The Asia-Pacific geriatric medicine market is projected to witness a CAGR of 6.8% during the forecast period. The major factors contributing to the growth of the market include the increasing geriatric population and rising prevalence of chronic diseases, such as cardiovascular diseases (CVDs) and cancer. Moreover, the rising industrial sector in these Asia-Pacific economies is further increasing the pollution level and the prevalence of respiratory and other disorders in the geriatric population. These factors combinedly offering growth to the geriatric medicine market in the region.
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The geriatric medicine market is classified on the basis of therapeutics and conditions. Based on therapeutics, the market is segmented into analgesic, anticoagulant, antihypertensive, antidiabetic, and others. Based on the condition, the market is segregated into CVDs, diabetes, neurological, cancer, respiratory, and others. Among these conditions, the CVDs segment contributes significantly to the market. The significant contribution of the segment is backed by the significant patient pool of CVDs in the region. With the rise in age, the development of CVDs increases subsequently. Therefore, a huge market is covered by CVDs medicines in the geriatric medicine market.
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Geographically, Asia-Pacific geriatric medicine market is analyzed for China, Japan, India, and the Rest of Asia-Pacific. China contributed the major share in Asia-Pacific geriatric medicine market in 2019 and is expected to retain its position during the forecast period. The dominance of China in the Asia-Pacific market is mainly due to the presence of a substantial health workforce in the country. India is projected to exhibit a considerable CAGR in Asia-Pacific geriatric medicine market during the forecast period, owing to the rising geriatric population and expansion of global market players in the country.
The Asia-Pacific geriatric medicine market is influenced by product development and advancements conducted by the market players. Some of the global and key players of the geriatric medicine market include Aurobindo Pharma, Ltd. Mankind Pharma, Cipla Ltd., Sun Pharmaceuticals Industries Ltd., Pfizer Inc., Astellas Pharma Inc., Teva Pharmaceuticals Industries Ltd., and others. These players are playing a significant role in the growth of the geriatric medicine market by providing various products and adopting several strategies such as merger and acquisition, partnerships and collaboration, technological development, and others.
Market Segmentation
Asia-Pacific Geriatric Medicine Market by Therapeutic
• Analgesic
• Anticoagulant
• Antihypertensive
• Antidiabetic
• Others (Statins and Antipsychotic)
Asia-Pacific Geriatric Medicine Market by Condition
• Cardiovascular Diseases (CVDs)
• Diabetes
• Neurological
• Cancer
• Respiratory
• Others (Arthritis and Osteoporosis)
Regional Analysis
• China
• Japan
• India
• Rest of Asia-Pacific
Company Profiles
Abbott Laboratories Inc.
• Overview
• Abbott Laboratories in Asia-Pacific
• Abbott Laboratories in Geriatric Medicine Landscape
• Recent Developments
• Amgen Inc.
• Astellas Pharma Inc.
• AstraZeneca PLC
• Aurobindo Pharma Ltd.
• Boehringer Ingelheim GmbH
• Bristol-Myers Squibb Co.
• Cipla Ltd.
• Eli Lilly and Co.
• GlaxoSmithKline PLC
• Johnson & Johnson Services Inc.
• Mankind Pharma
• Merck & Co., Inc.
• Novartis AG
• Pfizer Inc.
• Sanofi SA
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.
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