Increasing Product Approvals by Regulatory Authorities
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Increasing product approvals by regulatory authorities is expected to drive the market growth over the forecast period. For instance, in March 2021, Ono Pharmaceutical Co., Ltd., a pharmaceutical company, and SEIKAGAKU CORPORATION, a biopharmaceutical company, announced that the Ministry of Health, Labour and Welfare (MHLW) approved JOYCLU 30mg Intra-articular Injection in Japan indicated for the treatment of osteoarthritis (knee joint and hip joint).
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