Pune, India, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The joint pain injections market is expected to grow from USD 4.71 billion in 2021 to USD 7.95 billion in 2028 at a CAGR of 7.8% in the 2021-2028 period. Rising musculoskeletal and osteoarthritis disorders and increasing awareness regarding intra-articular injections benefits are expected to incite market development. Fortune Business Insights™ provides this information in its report titled “Joint Pain Injections Market, 2021-2028.”
Joint pain injections, also known as intra-articular injections, are used to treat joint pains and are extremely effective. Rising cases of musculoskeletal and osteoarthritis are expected to boost injections’ demand. Furthermore, rising awareness among patients regarding the benefits of the injection is expected to boost sales. Moreover, favorable government policies and increasing joint treatment are expected to boost the adoption of intra-articular injections. For example, As per Versus Arthritis’ data, approximately 8.8 million people in the U.K. had to undergo osteoarthritis treatment in 2019. These factors are likely to boost market growth during the upcoming years.
Industry Development
- November 2020: Bioventus Inc. included the Durolane, GELSYN-3, SUPARTZ FX in the CVS Caremark Formulary list. It is used to treat osteoarthritis pains, and the inclusion shall enable patients to gain information regarding drugs' coverage terms.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/joint-pain-injections-market-100871
Drivers and Restraints
Increasing Prevalence of Obesity Among the Population to Drive Market Development
The increasing prevalence of obesity among the population is expected to boost the adoption of these injections. Factors such as the growing geriatric population and sedentary population in developed and underdeveloped countries are expected to boost the adoption of intra-articular injections. Furthermore, rising osteoarthritis and musculoskeletal disorders are likely to boost market development. For example, As per the World Health Organization’s (WHO) estimations, nearly 1.71 billion of the global population suffered from musculoskeletal disorders in 2020. Also, as per Healio’s estimations, nearly 303.1 million people worldwide suffered from osteoarthritis in 2018. These factors are likely to fuel the joint pain injections market growth.
However, a lack of reimbursement policies and high costs of injections is expected to hinder the market’s progress.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/joint-pain-injections-market-100871
COVID-19 Impact
Increasing Investments from the Healthcare Sector and Rising Medical Expenditures to Boost Market Growth
This market is expected to be positively impacted during the pandemic because of rising investments from the healthcare sector and increasing medical expenditures. The sudden spike in COVID-19 patients led to stringent lockdown regulations. However, rising demand for effective treatment procedures and healthcare equipment is expected to boost the product’s demand. These factors are likely to foster the market growth for the product during the pandemic.
Segments
By product, the market is segmented into platelet-rich plasma injections, hyaluronic acid injections, corticosteroid injections, and others. As per joint type, it is classified into shoulder and elbow, hip, knee and ankle, and others.
Based on distributional channel, it is grouped into hospital pharmacies, retail pharmacies, and online pharmacies.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Quick Buy - Joint Pain Injections Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100871
Regional Insights
Favorable Government Reimbursement Policies to Boost Market Development in North America
North America is projected to dominate the joint pain injections market share because of favorable government reimbursement policies and the spike in the patient population suffering from joint pain. For example, As per the Osteoarthritis Research Society International (ORSI) data in 2018, the prevalence of osteoarthritis (OS) was nearly 4.15% among the general population. The market in North America stood at USD 1.76 billion in 2020 and is expected to grow positively during the upcoming years.
Europe is expected to hold the second-largest market share because of the rising prevalence of arthritis. Furthermore, the introduction of new joint pain injections is expected to propel the injections’ sales. These factors are likely to facilitate market progress.
Competitive Landscape
Prominent Companies Launch Novel Products to Improve Brand Image
The prominent companies operating in the joint pain injections sector launch novel products to satisfy consumers’ demands and improve their market position. For example, Teva Pharmaceutical Industries announced a novel 1% Sodium Hyaluronate in the U.S. after getting approved by the Center for Devices and Radiological Health of the U.S. FDA. The product is an effective medication used to treat knee pain because of osteoarthritis. This launch shall enable the company to satisfy consumers’ demands and improve its brand image. Furthermore, companies undertake acquisition, partnerships, research and development, and merger strategies to boost their market position.
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/joint-pain-injections-market-100871
List of Companies Profiled in This Market:
- Seikagaku Corporation (Tokyo, Japan)
- Flexion Therapeutics Inc. (Burlington, U.S.)
- Dr. Reddy’s Laboratories Ltd. (Hyderabad, India)
- Zimmer Biomet (Warsaw, U.S.)
- Wright Medical Group N.V.(Staines-upon-Thames, U.K.)
- Sanofi (Paris, France)
- Teva Pharmaceutical Industries Ltd.(Petah Tikva, Israel)
- Anika Therapeutics, Inc.(Bedford, U.S.)
- Bioventus Inc.(Durham, U.S.)
- Ferring B.V.(Saint-Prex, Switzerland)
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
-
- Overview of Advancements in Therapies for Treatment of Osteoarthritis
- Epidemiology Analysis of Osteoarthritis
- Prevalence of Rheumatoid Arthritis, in Key Countries, 2020
- Impact of COVID-19 on the Joint Pain Injections Market
- Key Industry Developments - Mergers, Acquisition, Etc.
- Global Joint Pain Injections Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Corticosteroid Injections
- Hyaluronic Acid Injections
- Platelet Rich Plasma Injections
- Others
- Market Analysis, Insights and Forecast – By Joint Type
- Knee and Ankle
- Hip
- Shoulder and Elbow
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Joint Pain Injections Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Corticosteroid Injections
- Hyaluronic Acid Injections
- Platelet Rich Plasma Injections
- Others
- Market Analysis, Insights and Forecast – By Joint Type
- Knee and Ankle
- Hip
- Shoulder and Elbow
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Joint Pain Injections Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Corticosteroid Injections
- Hyaluronic Acid Injections
- Platelet Rich Plasma Injections
- Others
- Market Analysis, Insights and Forecast – By Joint Type
- Knee and Ankle
- Hip
- Shoulder and Elbow
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- Germany
- UK
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
Continued...
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/joint-pain-injections-market-100871
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
