At 8.3% CAGR, Asia Pacific Osteoarthritis Therapy Market is Projected to be Worth US$ 7,037.00 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific osteoarthritis therapy market was valued at US$ 3,707.81 million in 2022 and is expected to reach US$ 7,037.00 million by 2030, registering a CAGR of 8.3% from 2022 to 2030. Availability of regenerative medicine and innovative therapy options reducing dependency on medications are among the critical factors attributed to drive the Asia Pacific osteoarthritis therapy market growth.

Regenerative medicine is a new and potentially transformative alternative to traditional therapy options to treat OA. Regenerative medicine utilizes biomedical engineering, biomaterials, and cell therapies that target the body's immune system to treat OA. Also, clinical researchers have developed methods to fix the articular cartilage of patients using patients' (autologous) cells. Further, regenerative therapy options use "Matrix-Induced Autologous Chondrocyte Implantation (MACI)." MACI can repair small areas of cartilage, ultimately preventing or postponing OA. Also, several manufacturers are developing products focused on regenerative therapy. In September 2022, Alkem Laboratories announced receiving regulatory approval from the Drug Controller General of India (DCGI) for "StemOne" in India. "StemOne" is the first allogenic cell therapy product for commercial use for knee osteoarthritis in India. Rising inclination toward non-surgical approaches such as PRP therapy, stem cell therapy, hyaluronic acid injections, and prolotherapy would propel the adoption of regenerative medicine. Patients suffering from OA can be treated using non-pharmacological therapies. Regenerative therapy options can improve joint functions by ultimately reducing pain and enhancing the overall quality of life for individuals suffering from OA. Therefore, increasing adoption of regenerative medicine is expected to open new business opportunities in the osteoarthritis therapy market during the forecast period.

On the contrary, the product recall hampers the growth of Asia Pacific osteoarthritis therapy market.

Based on therapy type, the Asia Pacific osteoarthritis therapy market is segmented into transcutaneous electrical nerve stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma (PRP) therapy & stromal vascular fraction, prolotherapy, and others. The physical therapy segment held 43.2% market share in 2022, amassing US$ 1,602.14 million. It is projected to garner US$ 3,124.22 million by 2030 to register 8.7% CAGR during 2022-2030.

In terms of disease indications, the Asia Pacific osteoarthritis therapy market is segmented into knee osteoarthritis, spine osteoarthritis, foot and ankle osteoarthritis, shoulder osteoarthritis, hand osteoarthritis, and others. The knee osteoarthritis segment held 54.1% share of Asia Pacific osteoarthritis therapy market in 2022, amassing US$ 2,007.09 million. It is anticipated to garner US$ 3,900.31 million by 2030 to expand at 8.7% CAGR during 2022-2030.

Based on end user, the Asia Pacific osteoarthritis therapy market is categorized into hospitals and clinics, specialty clinics, ambulatory surgical center, homecare, and others. The homecare segment held 34.2% share of Asia Pacific osteoarthritis therapy market in 2022, amassing US$ 1,269.15 million. It is predicted to garner US$ 2,326.36 million by 2030 to expand at 7.9% CAGR between 2022 and 2030.

Based on country, the Asia Pacific osteoarthritis therapy market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 33.7% share of Asia Pacific osteoarthritis therapy market in 2022. It was assessed at US$ 1,248.79 million in 2022 and is likely to hit US$ 2,432.84 million by 2030, registering a CAGR of 8.7% during 2022-2030.

Key players operating in the Asia Pacific osteoarthritis therapy market are Zimmer Biomet Holdings Inc, DePuy Synthes Inc, Bioventus Inc, Omron Healthcare Inc, Exactech Inc, Medi GmbH & Co KG, and Zealmax Innovations Pvt Ltd, among others.

• In March-2022, VQ OrthoCare introduced the OActive Align Osteoarthritis Knee Brace. The OActive Align offers clinicians an easy solution for custom-fitting and aligning the brace to produce exceptional patient outcomes. The brace employs a unique combination of features that precisely fit the anatomy, align the brace hinge axis, and secure it in its most effective position for corrective pain relief.
  
  

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com