Global osteoarthritis treatment market set for growth

The global market for treatment of osteoarthritis (OA) is set to undergo significant growth.

This is according to a new report from Research and Markets, which forecasts the market will expand at an annual rate of 8.55 percent between 2014 and 2019. 

It came to this conclusion by assessing the revenue generated from the sales of drugs used in the symptomatic treatment and therapeutics of OA.

"The presence of several large and small pharmaceutical companies has resulted in intense competition," the organisation stated.

Research and Markets also theorised that certain cellular processes that occur during ageing may contribute to the development of OA in some individuals.

It said that as a person gets older, the water content of cartilage increases while protein makeup declines, leading to the onset of the condition. 

With populations ageing in many developed nations, such as the UK, this means more people are likely to develop OA.