Asia Pacific Joint Pain Injection Market

Market Introduction

The Asia Pacific joint pain injection market is

a

highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Hyaluronic acid injections offered by companies are usually administered for treating sports injuries, as they aid in pain relief, reduce inflammation, and improve joint function. Corticosteroids are also used to treat sports-related injuries. The growing pharmaceutical and biopharmaceutical production and rising research and development in the country have leveraged the joint pain injection market's growth. The other indirect leading factors, such as increasing incidences of chronic diseases and growing geriatric population, contribute to the market's growth. The growing partnerships with various international companies have also resulted in increasing innovations that are offering growth opportunities for the market. Also, penetration of international companies in Japan is likely to favor the growth of the market. For instance, an American biotechnology company, Genzyme Corp’s Synvisc, used to treat osteoarthritis of the knee, has been approved in Japan.

Several Asia Pacific countries witnessed an unprecedented rise in the number of COVID-19 cases, which led to the discontinuation of several business operations and manufacturing activities of various healthcare products, including joint pain injections, which negatively impacted the joint pain injection market during the early months of 2020. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Also, there has been a significant drop in in-patient and out-patient for private hospital chains. In an effort to relieve healthcare systems, many clinics have been postponing non-critical surgeries. To avoid overburdening hospitals, already struggling to deal with the rising pandemic pressure, doctors are delaying surgeries till the Covid-19 peak is past. Moreover, medical device companies are starting to forecast large sales declines in their Chinese markets because people are staying at home. Many big medical device companies such as Stryker, CartiHeal Inc., and Smith & Nephew have predicated the decline in sales in china. Hospitals across China, Hong Kong and Taiwan have been deferring orthopedic surgeries, to prevent the spread of the virus in the region. Almost no elective surgeries were performed in China in February. Such drop in number of elective surgeries is estimated to deter the Asia Pacific joint pain injection market by 2028.

Asia Pacific Joint Pain Injection Strategic Insights

Strategic insights for the Asia Pacific Joint Pain Injection provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Joint Pain Injection Report Scope

Asia Pacific Joint Pain Injection Regional Insights

The geographic scope of the Asia Pacific Joint Pain Injection refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Market Overview and Dynamics

The joint pain injection market in Asia Pacific is expected to grow from US$ 401.96 million in 2021 to US$ 675.90 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028. The healthcare industry in the region has been witnessing rapid transformation during the years. Also, various factors promoting the growth of healthcare industry include, rising prevalence of orthopedic diseases, ageing population, increasing income and affordability, leading to higher demand and utilization of healthcare services. Asia Pacific has various growth opportunities due to rising medical tourism that demand technologically advanced medical technologies, consistently growing demand for orthopedic therapies. Furthermore, various international market players are shifting their manufacturing plants to India, which is expected to drive market growth significantly during the forecast period.

Key Market Segments

Based on drugs, the hyaluronic acid segment accounted for the largest share of the Asia Pacific joint pain injection market in 2020. Based on joint type, the knee segment accounted for the largest share of the Asia Pacific joint pain injection market in 2020. Based on distribution channel, the hospital pharmacies segment accounted for the largest share of the Asia Pacific joint pain injection market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Asia Pacific joint pain injection market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Chugai Pharmaceutical Co., Ltd.; Bioventus Inc.; Fidia Pharma USA Inc.; Seikagaku Corporation; Ferring B.V.; Sanofi; Anika Therapeutics, Inc. and Teva Pharmaceutical Industries Ltd..

Reasons to buy report

• To understand the Asia Pacific joint pain injection market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific joint pain injection market
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific joint pain injection market
• Obtain market revenue forecast for market by various segments from 2020-2028 in Asia Pacific region.

Asia Pacific Joint Pain Injection Market Segmentation

Asia Pacific Joint Pain Injection Market -B

y Drugs

• Hyaluronic Acid
• Corticosteroid
• Others

Asia Pacific Joint Pain Injection Market -By Joint Type

• Knee
• Foot and Ankle
• Shoulder and Elbow
• Hip
• Others

Asia Pacific Joint Pain Injection Market -By Distribution Channel

• Retail Pharmacies
• Hospitals Pharmacies
• Others

Asia Pacific Joint Pain Injection Market – By Country

• US
• Canada
• Mexico

Asia Pacific Joint Pain Injection Market – Company Profiles

• Chugai Pharmaceutical Co., Ltd.
• Bioventus Inc.
• Fidia Pharma USA Inc.
• Seikagaku Corporation
• Ferring B.V.
• Sanofi
• Anika Therapeutics, Inc.
• Teva Pharmaceutical Industries Ltd.