The Asia Pacific Musculoskeletal Disorders Drugs Market would witness market growth of 5.1% CAGR during the forecast period (2023-2029).
Rising healthcare costs and demand for amyotrophic lateral sclerosis pharmaceuticals are providing growth opportunities for the market. The healthcare industry in emergent economies is expanding at a rapid rate due to the growing demand for enhanced healthcare services and the government's substantial investments to improve healthcare infrastructure. In addition, E-commerce (electronic commerce) has become a crucial instrument for small and large businesses around the region due to the increasing preference of consumers for online shopping over conventional purchasing methods, which is increasing the sales of these products and further supports market expansion.
Musculoskeletal conditions can be treated with a variety of approaches, such as taking painkillers, engaging in physical therapy, or even undergoing surgical procedures, but the most popular among them is the use of medications. On the other hand, there is a demand for novel and improved treatments that are more efficient and cause fewer adverse effects. This is where the industry for medicines to treat musculoskeletal diseases comes into play.
The average life expectancy in Japan has been rising, making it one of the top countries in the world for long life expectancy. The average life expectancy was 87.32 years for women and 81.25 years for males as of 2018. By 2065, it is anticipated that men's life expectancy will be 84.95 years and women's will be 91.35 years. The proportion of adults 65 and older has also been increasing and is now the highest in the world. In 2019, it was 28.4; by 2036, it should be 33.35; by 2065, it should be 38.4. Since musculoskeletal disorders are typically more common in older persons, the growing geriatric population and the government's approach to ensuring the welfare of old age population, will increase the demand and purchasing power of the population in the region, which will drive the market growth in APAC.
The China market dominated the Asia Pacific Musculoskeletal Disorders Drugs Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $8,837.1 Million by 2029. The Japan market is registering a CAGR of 4.5% during (2023 - 2029). Additionally, The India market would showcase a CAGR of 5.8% during (2023 - 2029).
Based on Distribution Channel, the market is segmented into Drug Stores & Retail Pharmacies, Hospital Pharmacies and Online Providers. Based on Route of Administration, the market is segmented into Parenteral and Oral. Based on Drug Type, the market is segmented into Analgesics, DMARDs, Corticosteroids and Others. 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 Musculoskeletal Disorders Drugs Market is Projected to reach USD 109.4 Billion by 2029, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AbbVie, Inc., Amgen, Inc., Eli Lilly And Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., and UCB S.A.
By Distribution Channel
By Route of Administration
By Drug Type
By Country
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