Asia-pacific Cartilage Degeneration Market Forecast 2021-2028
The Asia-Pacific cartilage degeneration market is projected to record a CAGR of 4.87% during the estimated period of 2021 to 2028. Factors like the significant surge in the geriatric population, the growing acceptance of sports across the younger generation, and the increasing expenditure on public health care systems are anticipated to play a pivotal role in fueling the regional market’s growth.
The Asia-Pacific cartilage degeneration market growth assessment comprises a detailed analysis of Singapore, South Korea, India, China, Australia & New Zealand, Thailand, Japan, Indonesia, and the rest of the Asia-Pacific. India holds a substantial position across the global cartilage degeneration market on account of the increased focus on cartilage science in the country. For instance, the foundation of the Indian Cartilage Society aims to raise awareness regarding cartilage science. In addition, it also strives to augment the economic infrastructure for autologous chondrocyte implantation since India has an ideal number of resources and intellectuals.
On the other hand, South Korea’s medical technology sector is the fourth largest across the Asia-Pacific, providing the market with lucrative growth opportunities. The nation also has the presence of numerous countries operating worldwide, in addition to establishing an international brand. South Korea possesses some of the best healthcare facilities, thereby delivering world-class healthcare to medical tourists as well as its citizens. Therefore, these factors are set to propel the Asia-Pacific cartilage degeneration market growth over the forecasting years.
Some of the top firms operating in the market are Stryker Corporation, B. Braun Melsungen AG, Johnson & Johnson, Smith & Nephew, etc.
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