According to a new report published by Allied Market Research, titled, Anti-inflammatory Therapeutics Asia-Pacific Market Research Report, 2014-2020, the Asia-Pacific anti-inflammatory therapeutics market is expected to grow at a CAGR of 8.6% during the period of 2015-2020.
Portland, OR -- (SBWIRE) -- 06/23/2017 -- The arthritis segment would continue to lead the Asia Pacific anti-inflammatory therapeutics market through 2020. China anti-inflammatory therapeutics market is forecast to grow at the highest CAGR of 13.9% during the forecast period.
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Inflammation is a nonspecific immune defense mechanism of the body triggered due to injuries, bacterial or viral infections or any damage to the internal or external organs. When this inflammation persists for longer duration it can lead to chronic diseases such as atherosclerosis and rheumatoid arthritis, to name few. Currently, reduction of inflammation particularly in chronic diseases is the widely accepted therapeutic approach adopted by physicians.
Rising incidences of autoimmune and respiratory diseases, increasing R&D investments in China and India and large amount of biosimilar drugs in the development pipeline would drive the growth of the Asia-Pacific anti-inflammatory therapeutics market. Furthermore, factors such as existence of established markets for NSAIDs and corticosteroids, large adoption of OTC (over the counter) NSAIDs, such as ibuprofen and naproxen, in China and India and government initiatives in the Asia-Pacific region would further boost the market growth. However, the adverse effects associated with prolonged consumption of drugs such as NSAIDs and corticosteroids and issues of uncertain patent legislations, such as compulsory licensing in India, would limit the market growth. High price sensitivity in countries such as India and China would be the key challenge for drug innovators to launch their patented drugs in the market.
The anti-inflammatory biologics segment dominated the market in 2014 and is expected to display the highest growth rate over the forecast period. This is due to the unmatched benefits offered by biological drugs and rapid adoption in countries like Japan along with improving healthcare access and increasing healthcare expenditures. Popularity of corticosteroids has been decreasing due to the issues of withdrawal symptoms and toxicity.
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Key Findings of the Anti-inflammatory Therapeutics Asia-Pacific Market:
1. China is expected to take over Japan by 2018 in the Asia Pacific anti-inflammatory therapeutics market
2. India anti-inflammatory therapeutics market is projected to account for around 13% share in the Asia-Pacific market by 2020
3. China and India would govern around half of the Asia-Pacific NSAID market by 2020
4. Japan accounted for around 1/3rd share in the anti-inflammatory biologics market in 2014, highest among all
5. Arthritis indication was the major revenue-generating segment in the APAC anti-inflammatory indication market in 2014
6. Psoriasis indication is projected to grow at a CAGR of 10.7%, fastest among all indications
Japan is the leading market for patented as well as biologic drugs. However, government in Japan is now focusing on establishment of effective generic drugs. On the other hand, China is projected to emerge as the new market leader in the Asia-Pacific anti-inflammatory therapeutics market by 2020 due to rapidly developing economy, growing healthcare expenditure and huge patient base. In India, the launch of biosimilars and constantly improving per capita healthcare spending would be the key factors facilitating the growth of anti-inflammatory therapeutics market.
Companies have been adopting strategies such as collaborations, indication expansions and product launches as their key strategies to overcome the patent expiry issues of existing drugs and to gain additional market share. The key companies profiled in this report are Pfizer, Inc., AbbVie, Inc., Johnson & Johnson, GlaxoSmithKline plc, Merck & CO., Inc. Novartis AG, F. Hoffman La Roche AG, Eli Lily and Company, AstraZeneca PLC and Amgen, Inc.