Asia Pacific Osteoarthritis Therapeutics Market: Industry Analysis and Forecast (2024-2030)

Asia Pacific Osteoarthritis Therapeutics Market Definition:

Osteoarthritis is one of the major causes of chronic disability in older persons. Along with other risk factors, aging encourages the growth of osteoarthritis. An imbalance between anabolic and catabolic activity in the joint characterizes the disorder, which is most likely caused by aging. As a result, one of the key causes of the rising osteoarthritis cases in the region is an aging population base, which is driving the market growth.

 

Further, the Asia Pacific Osteoarthritis Therapeutics market is segmented by Drug type, distribution channel,  Route of Administration, Purchasing pattern, anatomy and geography. On the basis of drug type, the Asia Pacific Osteoarthritis Therapeutics market is segmented under NSAIDs, corticosteroids, Analgesic and Viscosupplementation agents . Based on the distribution channel, the market is segmented under the channels of Hospital pharmacies, online pharmacies and Retail pharmacies. Based on Anatomy, the market is segmrented under hip,knee, hand, and small joint. Based on purchasing pattern, the market is segment under Prescribing pattern and OTC . Based on Route Of Administration , the market is segment under parenteral, oral, topical.   By geography, the market covers the major countries in Asia Pacific i.e., India, China, Japan, Australia and Rest of Asia Pacific For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

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Asia Pacific Osteoarthritis Therapeutics COVID 19 Insights:

The COVID-19 outbreak is expected to have a minor impact on the market for osteoarthritis therapeutics. The use of corticosteroids has decreased among drug types.

 

Asia Pacific Osteoarthritis Therapeutics Market Dynamics:

Osteoarthritis (OA) is a heterogeneous disorder characterized by progressive cartilage degeneration in the knees, hips, hands, feet, spine, shoulders, and neck joints. Stiffness, swelling, tenderness, persistent pain, loss of flexibility, grating feelings, bone spurs, and sleep disturbances are all common symptoms of OA. Physical examination, X-ray, arthroscopy, joint fluid analysis, blood testing, and an MRI scan can all be used to diagnose it.

 

Various drugs and surgical procedures are suggested based on the various results in order to alleviate the disease's indications and symptoms. To reduce pain and improve joint function, alternative medicines, physical therapies, and supportive devices are currently available on the market.

 

Osteoarthritis pain is commonly treated with opioids, oral pain relievers, and parenteral pain relievers. Alternatives such as orthopedic braces are used as part of a noninvasive approach to pain management, but pain drugs are widely used due to their ease of administration and affordability. Oral analgesics (acetaminophen and nonsteroidal anti-inflammatory drugs (NSAIDs) like ibuprofen, naproxen, tramadol, opiates, and duloxetine), topical agents (such as capsaicin and topical NSAIDs), intra-articular agents (such as corticosteroids and hyaluronic acid), and nutraceuticals (glucosamine and chondroitin) are all. these medications can reduce pain by 35 %.

 

Doctors may be hesitant to prescribe NSAIDs because of the risk, while patients taking over-the-counter NSAIDs may seek alternatives. Significant progress has been achieved in the diagnosis, treatment, and monitoring of disease activity in patients with osteoarthritis, including the development of personalized OA drugs. Biomarkers of clinical relevance for a personalized approach to RA therapy will have properties such as ease of measurement, acceptable levels of sensitivity and specificity, and test method.

 

 The use of biomarkers to identify patients who are likely to respond to specific medical therapies may improve treatment response rates and reduce the risk of patients being exposed to medications that are ineffective or have substantial adverse effects.

 

Individuals' risk of developing OA is increasing as a result of sedentary lifestyles, unhealthy dietary choices, and the rising prevalence of obesity and blood sugar. This, combined with the growing senior population, which is more susceptible to such disorders, is one of the major drivers of the osteoarthritis therapeutics market. Aside from that, having easy access to MRI images is a major growth-inducing factor. The market is also benefitting from the development of imaging biomarkers based on radiographic features, and the introduction of analgesic drugs.

 

Furthermore, the market is being driven by rising investments in research and development (R&D) activities to introduce new diagnostics and biomarkers, as well as rising expenditures on enhancing healthcare infrastructure. For example, disease-modifying medicines target proinflammatory cytokines are being developed to treat cartilage breakdown.

 

Asia Pacific Osteoarthritis Therapeutics Market Segment Analysis:

By Anatomy, The market is divided into knee, hip, hand, and small-joint osteoarthritis therapeutics based on anatomy. The largest and fastest-growing segment of this market is knee osteoarthritis therapeutics. This is primarily due to high incidence of osteoarthritis in the knee.

 

 

By Route of Administration, The osteoarthritis therapeutics market has been divided into three categories based on the route of administration: oral, topical, and parenteral. In 2023, the parenteral route held the biggest share of the market, and it is expected to increase at the fastest CAGR over the forecast period. This is due to the extensive use of the parenteral route for administering osteoarthritis treatments, which is easier to administer and also has better pharmacokinetics and pharmacodynamics, leading in higher patient compliance.

 

By Drug Type, The market is divided into viscosupplementation agents, nonsteroidal anti-inflammatory medicines (NSAIDs), analgesics, and corticosteroids based on drug type. Analgesics are divided into duloxetine and acetaminophen, whereas NSAIDs are divided into naproxen, aspirin, diclofenac, ibuprofen, and other NSAIDs. In 2021, the viscosupplementation agents category had the most market share in the osteoarthritis therapeutics market. The increased incidence of knee osteoarthritis is the main factor of this segment's growth. Viscosupplementation significantly relieves the pain of osteoarthritis by injecting synovial fluid into the joints, resulting in improved joint lubrication.

 

By Purchasing Pattern, The osteoarthritis therapeutics market is divided into OTC and prescription medications based on purchasing patterns. Because most osteoarthritis therapies (viscosupplementation agents and corticosteroids) are only available on prescription, prescription medications accounted for a higher share of the market in 2023.

 

By Distribution Channel, The osteoarthritis therapeutics market is divided into three categories based on distribution channels: hospital pharmacies, online pharmacies, and retail pharmacies. Because of the high frequency of patients visiting hospitals for osteoarthritis therapies and the wide range of osteoarthritis therapies offered in these pharmacies, hospital pharmacies accounted for the highest share of this market in 2023. Another significant benefit is the simplicity with which reimbursement can be claimed for items purchased at hospital pharmacies.

 

Asia Pacific Osteoarthritis Therapeutics Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Asia Pacific Osteoarthritis Therapeutics market to the stakeholders in the industry. The report provides trends that are most dominant in the Asia Pacific Osteoarthritis Therapeutics market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Osteoarthritis Therapeutics Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Osteoarthritis Therapeutics market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Osteoarthritis Therapeutics market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Osteoarthritis Therapeutics market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Osteoarthritis Therapeutics market. The report also analyses if the Asia Pacific Osteoarthritis Therapeutics market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Osteoarthritis Therapeutics market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Osteoarthritis Therapeutics market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Osteoarthritis Therapeutics market is aided by legal factors.

 

Asia Pacific Osteoarthritis Therapeutics Market Scope:

Asia Pacific Osteoarthritis Therapeutics Market Scope
Market Size in 2023	USD 6.55 Bn.
Market Size in 2030	USD 12.38 Bn.
CAGR (2024-2030)	9.5%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Anatomy Knee Hip Hand Small Joint
	By Route of Administration Parenteral Topical Oral
	By Drug Type Viscosupplementation Agents NSAIDs Analgesic Corticosteroid
	By Distribution Channel Hospital Pharmacies Retail Pharmacies Online Pharmaciex
	By Purchasing Pattern Prescription Drugs OTC Drugs
Country Scope	China India  Japan  South Korea Australia  ASEAN Rest of APAC

 

Asia Pacific Osteoarthritis Therapeutics Market Key Players: 

• Cipla (Mumbai)
• Dr.Reddy’s  Laborateries (Hyderabad)
• Pharmed Limited (India)
• Virchow Biotech (India)