Dublin, April 26, 2023 (GLOBE NEWSWIRE) -- The "Hyaluronic Acid Viscosupplementation - Market Insights, Competitive Landscape, and Market Forecast - 2028" report has been added to ResearchAndMarkets.com's offering.
The global hyaluronic acid viscosupplementation market was valued at USD 3,872 million in 2022, growing at a CAGR of 7.29% during the forecast period from 2023 to 2028 to reach USD 5,900 million by 2028.
A growing market owing to the increasing prevalence of osteoarthritis, particularly among the geriatric population and increasing demand for non-surgical treatment options for osteoarthritis. The hyaluronic acid viscosupplementation market is observing optimistic market growth due to the rising prevalence of osteoarthritis across the globe.
Further, the rise in the geriatric population, increasing demand for minimally invasive treatment options for osteoarthritis, favorable reimbursement policies, and growing focus on improving the safety, efficacy, and affordability of hyaluronic acid viscosupplementation for patients are expected to result in the appreciable revenue growth in the hyaluronic acid viscosupplementation market during the forecast period.
Hyaluronic Acid Viscosupplementation Market Dynamics:
According to the World Health Organization 2022, worldwide around 528 million people were suffering from osteoarthritis in 2019. As per the same source osteoarthritis contributed to 19 million years lived with disability (YLDs).
Osteoarthritis also known as "wear and tear" disease is associated with symptoms such as extreme pain, swelling, and others caused by the wearing down of cartilage within the joints. Hyaluronic acid viscosupplementation injections are given to patients suffering from osteoarthritis to reduce their pain and swelling, thereby providing relief to the patients.
The increasing geriatric population is another factor accelerating the market for hyaluronic viscosupplementation market. For instance, according to WHO 2022, it has been expected that, globally by 2030, out of 6 at least 1 person will have his/her age 60 years or above. As per the same source, by 2050, the number of people aged 60 years or above will reach around 2.1 billion. The fact mentioned by the American College of Rheumatology 2021, says that osteoarthritis commonly occurs in the old age population and people aged 40 or above are most likely to suffer from it.
The growing preference for minimally invasive and non-surgical treatment options for osteoarthritis is further going to enhance the growth of the hyaluronic acid viscosupplementation market. As a non-surgical alternative, hyaluronic acid viscosupplementation injections are found to be more effective in relieving pain due to osteoarthritis and are crucial for delaying complicated orthopedic surgical procedures such as knee replacement and others.
However, the stringent regulatory approval process for hyaluronic acid viscosupplementation and the presence of other treatment options for osteoarthritis may act as a restraint in the growth of the hyaluronic acid viscosupplementation market.
The hyaluronic acid viscosupplementation market was negatively impacted during the period of the COVID-19 pandemic owing to lockdown impositions as a measure to prevent the spread of COVID-19 infection among hospital personnel and the general public. Due to shifted focus on first treating patients with COVID-19 infection, the orthopedic and other departments were closed down in hospitals and clinics, leading to a halt in the diagnosis and treatment of arthritic patients.
Also, the manufacturing, supply, distribution, import, export, and other related activities of the hyaluronic acid viscosupplementation market was severely hampered, thereby negatively impacting the growth of the hyaluronic acid viscosupplementation market.
Nevertheless, the hyaluronic acid viscosupplementation market is in a recovery phase owing to the resumption of activities across all the sectors including healthcare and pharmaceutical, thereby providing ample opportunities for the hyaluronic acid viscosupplementation market to grow at significant revenue during the forecast period.
A selection of companies mentioned in this report includes
- Teva Pharmaceutical Industries Ltd.
- Anika Therapeutics, Inc.
- APTISSEN
- Sanofi
- AVNS
- Bioventus
- Fidia Farmaceutici S.p.A.
- Miravo HealthcareT
- Zimmer Biomet
- Johnson & Johnson Services, Inc.
Key Topics Covered:
1. Hyaluronic Acid Viscosupplementation Market Report Introduction
2. Hyaluronic Acid Viscosupplementation Market Executive Summary
2.1. Scope of the Study
2.2. Market at Glance
2.3. Competitive Assessment
3. Regulatory Analysis
3.1. The United States
3.2. Europe
3.3. Japan
3.4. China
4. Hyaluronic Acid Viscosupplementation Market Key Factors Analysis
4.1. Hyaluronic Acid Viscosupplementation Market Drivers
4.1.1. Increasing prevalence of osteoarthritis across the world, particularly among the geriatric population
4.1.2. Rising demand for minimally invasive treatment options for osteoarthritis
4.1.3. Favorable reimbursement policies for viscosupplementation
4.2. Hyaluronic Acid Viscosupplementation Market Restraints and Challenges
4.2.1. The stringent regulatory approval process
4.2.2. Presence of other treatment options for osteoarthritis
4.3. Hyaluronic Acid Viscosupplementation Market Opportunities
4.3.1. Advancements in the development of hyaluronic acid-based therapies
5. Hyaluronic Acid Viscosupplementation Market Porter's Five Forces Analysis
5.1. Bargaining Power of Suppliers
5.2. Bargaining Power of Consumers
5.3. Threat of New Entrants
5.4. Threat of Substitutes
5.5. Competitive Rivalry
6. COVID-19 Impact Analysis on Hyaluronic Acid Viscosupplementation Market
7. Hyaluronic Acid Viscosupplementation Market Layout
7.1. By Treatment Type
7.1.1. Single Injection
7.1.2. Three Injections
7.1.3. Five Injections
7.2. By End-User
7.2.1. Hospitals
7.2.2. Specialty Clinics
7.2.3. Others
7.3. By Geography
8. Hyaluronic Acid Viscosupplementation Market Company and Product Profiles
8.1. Company Overview
8.2. Company Snapshot
8.3. Financial Overview
8.4. Product Listing
8.5. Entropy
9. KOL Views
10. Project Approach
For more information about this report visit https://www.researchandmarkets.com/r/y5rhdc
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