The Asia Pacific Viscosupplementation Market would witness market growth of 8.8% CAGR during the forecast period (2023-2030).
Osteoarthritis pain is frequently treated with topical, oral, and parenteral analgesics. The use of pain drugs for the illness is widespread due to their simplicity of administration and accessibility, even though alternatives like orthopedic braces are employed as part of a noninvasive approach to pain management.
Many different types of painkillers are used, including oral analgesics like acetaminophen and non-steroidal anti-inflammatory drugs (NSAIDs), including ibuprofen, naproxen, tramadol, opiates, and duloxetine; topical agents such as capsaicin and NSAIDs; intra-articular agents such as corticosteroids and hyaluronic acid, and nutraceuticals including glucosamine and chondroitin.
Increased prevalence of osteoarthritis, improvements in drug development R&D, increased funding from private and public organizations for the development of the healthcare sector and research centres, and increased demand for cell-based research activities are the main factors driving the growth of the osteoarthritis sector.
According to International Trade Administration, one in four Singaporeans will be older than 65 by 2030. To prepare for population aging, Singapore is pursuing a national strategy. The Action Plan for Successful Aging from the Ministerial Committee on Ageing includes a wide range of programs, including Seniors' Health Programs, Dementia Friendly Communities, Intergenerational Harmony, and Active Aging. The goal is to make it possible for its citizens to age well, live longer and in better health, take advantage of opportunities for lifelong learning, and actively participate in and engage with their community. Therefore, the region presents lucrative growth prospects for the market throughout the forecast period.
The China market dominated the Asia Pacific Viscosupplementation Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $830.5 million by 2030. The Japan market is registering a CAGR of 8.1% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 9.4% during (2023 - 2030).
Based on Application, the market is segmented into Knee Osteoarthritis, Hand Osteoarthritis, Hip Osteoarthritis, and Others. Based on Product, the market is segmented into Three Injection, Single Injection, and Five Injection. Based on End-use, the market is segmented into Hospitals, and Orthopedic Clinics/ASCs. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Viscosupplementation Market is Projected to reach USD 8.2 Billion by 2030, at a CAGR of 8.6%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include DePuy Synthes (Johnson & Johnson), Sanofi S.A., Zimmer Biomet Holdings, Inc., Ferring Holdings SA, F. Hoffmann-La Roche Ltd., LG Chem Ltd. (LG Corporation), Anika Therapeutics, Inc., Fidia Farmaceutici S.p.A. (P&R Farmaceutici S.p.A), Smith & Nephew PLC and Seikagaku Corp.
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