New York, Feb. 14, 2024 (GLOBE NEWSWIRE) -- According to Market.us, the Global Viscosupplementation Market size is predicted to exceed USD 7,763.7 Million by 2033, accompanied by a projected CAGR of 8.1% from 2024 to 2033.
One of the most common form of muscoskeletal disorder is Osteoarthritis. In 2019, osteoarthritis was diagnosed in approximately 32.5 million Americans. Osteoarthritis is one of the most common suffering in growing geriatic population. Thus, this drives the viscosupplementation market on a higher level. In addition to this, a significant increase in product approvals and key strategic agreements also makes the market highly demanding.
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Key Takeaway
- During the forecast period 2024-2033, the viscosupplementation market is projected to register the highest CAGR of 8.1%.
- By dosage analysis, single injection segment accounted to hold a hefty market share in 2023.
- Based on applications, knee osteoarthritis segment leads the viscosupplementation market.
- By end user analysis, a largest market share is accommodated by ambulatory surgical centres.
- Major driver of the market expansion is the rise in cases of orteoporosis and osteoarthritis.
- North America is accounted to hold a remarkable market share of 41.8% in 2023.
Factors Affecting the Growth of the Global Viscosupplementation Industry?
There are number of factors leading to the expansion of viscosupplementation market. These are as follows:
- Growing Geriatic Population: With age, the problems such as osteoarthritis and osteoporosis also up scales, thus fostering the market share.
- Technological Advancements: Recent product launches and advancements in technology within the viscosupplementation market are expected to create lucrative growth opportunities, fueling the market size.
- Government Medical Reimbursement Policies: Revenue in the viscosupplemntation market is projected to experience significant growth, primarily due to favorable medical reimbursement policies that governments are planning to implement.
- Local Joint pain and swelling: The treated area can be left with pain and swelling, thus can hamper the market growth.
Top Trends in Viscosupplementation Market
The increased research and development activities by major market players for the development of new treatments for oeteoarthritis is the major adoption ruling the viscosupplementation market. Along with this, the growing demand for non-surgical osteoarthritis treatments, lifestyle induced disorder and advances in hyaluronic based therapies further fosters the market growth. For example, a US biopharmaceutical company, Flexion Therapeutic, Inc., reported five positive results in phase 2 pharmacokinetics trial ZilRETTA, for the patients dealing with shoulder arthritis.
Market Growth
The rising pervasiveness of osteoarthritis has reached an alarming proportion due to increasing cases of chronic diseases such as heart disease, obesity and diabetes. This can be associated with the lack of physical activities such as exercise, rising the demand fir knee and hip osteoarthritis. Osteoarthritis is most commonly found in geriatric population, hence the rising aged population demands for more non invasive treatment options. Thus rise in geriatric population, increasing osteoarthritis cases and new product launches are linked to the expansion of viscosupplementation market dimensions.
Regional Analysis
The rising geriatric population in North America leads to an increase number osteoarthritis conditions, thus increasing the need for joint injections. This leads the region to hold a sizeable portion of the viscosupplementation market in 2023. North America is accounted to hold a considerable market share of 41.8%, dominating the other regions.
Furthermore, owing to rising demand for non surgical treatments and a growing awareness of viscosupplementation effectiveness, Asia-Pacific region is anticipated to have an expanding market during the foreseeable days.
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Scope of the Report
| Report Attributes | Details |
| Market Value (2023) | USD 3,562.9 Million |
| Forecast Revenue 2033 | USD 7,763.7 Million |
| CAGR (2024 to 2033) | 8.1% |
| North America Share | 41.8% |
| Base Year | 2023 |
| Historic Period | 2018 to 2022 |
| Forecast Year | 2024 to 2033 |
Market Drivers
Report Segmentation of the Global Viscosupplementation Market
By Dosage Analysis
Based on dosage, the market if bifurcated into single injection, three injections and five injections. Amongst these, single injection segment is accounted to hold a valuable market portion of 47.2%, dominating the market. In addition to this, three injection segment also holds a large portion of the market owing to the increasing number of FDA approvals for three injection viscosupplements, aidind the market growth.
By Application Analysis
With respect to applications, the viscosupplementation market is fragmented into knee, hip and hand osteoarthritis segments. The knee osteoarthritis segment holds a dominating position in the marketplace holding a significant market share of 50.6%. This prominence is due to the increasing cases of osteoarthritis in older people. With age, there is a decline in water content in cartilage, reducing the ability to absorb shock. According to Journal of PlumX Metrics, the global prevalence of osteoarthritis in knees was 16.6% and 22.9% in people above 45 years of age.
By End User Analysis
Based on the use of viscosupplementation injections, the market is fragmented into hospitals, orthopedic cinics and ambulatory surgical centres. A large market share of 72.9% will be held by ambulatory surgical centres in 2023. These out-patient surgery centres specialize in same day care performing hip, knee and shoulder replacement. In comparison to ambulatory surgical centres, hospitals also provides a wealthy hand in offering wide range of viscosupplementation treatments, thus propelling the market significantly in the near future.
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Recent Development of the Viscosupplementation Market
- In June 2022: Johnson and Johnson released new data from phase 3 studies which revealed the fact that patients receiving active psoriatic arthritis medications got long term and efficient outcomes over two years in all domains. This data allowed the company to progess substantially.
- In January 2022: An R&D focused pharmaceutical business, Seikagaku Corporation launced Hylink, which is an intra-articular single injection viscosupplement to treat knee osteoarthritis.
Market Segmentation
By on Dosage
- Single Injection
- Three Injection
- Five Injection
By On Application
- Knee Osteoarthritis
- Hip Osteoarthritis
- Hand Osteoarthritis
By End-Users
- Hospitals
- Orthopedics Clinics
- Ambulatory Surgical Centers
By Geography
North America
- US
- Canada
Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
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Competitive Landscape
In order to expand their operation in foreign market, the emerging market players are concentrating on the development strategies. The businesses are involed in new product launches to expand their market share.
Some of the key market players include:
- Sanofi S.A.
- Anika Therapeutics, Inc.
- Seikagaku Corp.
- Zimmer Biomet
- Smith & Nephew PLC
- Ferring Pharmaceuticals B.V.
- Lifecore Biomedical
- LG Life Sciences Ltd.
- Fidia Farmaceutici S.p.A
- Hoffmann-La Roche Ltd.
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