New York, USA, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global viscosupplementation market is predicted to generate a revenue of $5,866.2 million and grow at 10.6% CAGR during the 2020-2027 forecast period. The extensive report offers a concise layout of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the analysis timeframe. The report also provides detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Factors Impacting the Market Size Pre and Post Covid-19 Pandemic
According to the report, the real-time market size has increased remarkably compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $2,903.3 million in 2020, while its estimations were $2,845.3 million in the pre-pandemic scenario. Growing geriatric population across the globe and high prevalence of osteoarthritis among them is the major driving factor for the global viscosupplementation market during the analysis timeframe. Moreover, the viscosupplementation treatment is safe and cost-effective and is highly required in case of obese patients to help them move around easily which is also estimated to boost the market growth by 2027.
Access an Exclusive PDF Sample of Viscosupplementation Market (Including Tables, TOC, and Figures)
Factors Impacting the CAGR Figures Pre and Post Covid-19 Pandemic
As per the report, the global viscosupplementation market is anticipated to grow at 10.6% CAGR during the analysis timeframe, while it was expected to grow at 10.2% CAGR in the pre-pandemic scenario from 2020-2027. Increasing investments by governments and key market players for research and innovations in viscosupplementation and growing use of this treatment over sports injuries are some factors to augment the market development during the forecast period. For instance, in November 2019, Anika Therapeutics, a leading provider of hyaluronic acid (HA) products for tissue protection, announced the launch of CINGAL, the first commercially-available combination viscosupplement, at the 2019 Fortius International Sports Injury Conference (FISIC), which further propels the market development by 2027.
Post Pandemic Insights
As per the report, the global viscosupplementation market is predicted to prosper tremendously in the upcoming years mainly due to growing number of sports injuries, increasing geriatric population, and the prevalence of osteoarthritis among them. In addition, some leading market players are initiating strategic alliances like partnerships and product launches to strengthen their presence in the competitive market that further bolsters the market growth during the forecast years. For example, in December 2019, Fidia, a renowned leader in hyaluronic acid-based products and research, launched its 3-injection regimen called ‘TRILURON’ which is an intra-articular viscosupplement that can effectively treat osteoarthritis pain.
Specific Requirements on the post COVID-19 Impact on Viscosupplementation Market? Ask an Analyst
Significant Market Players
Some significant viscosupplementation market players include
- Bioventus
- Anika Therapeutics, Inc.
- OrthogenRx
- ecnofarma S.A.
- Fidia Farmaceutici S.p.A.
- Aptissen
- TRB Chemedica International SA
- Stellar Pharmaceuticals Inc
- Dr. Reddy’s Laboratories Ltd.
- Zimmer Biomet
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in May 2020, OrthogenRx Inc., a renowned medical device organization that focuses on the development and commercialization of treatments for knee pain, launched two patient programs- ‘TriVisc Patient Assistance Program’ and ‘TriVisc Direct Purchase Program’ for the commercialization of triVisc viscosupplement that is derived from a bacterial fermentation process.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Triangulate data of Viscosupplementation Market as per your Format and Definition & Avail 10%OFF
More about Viscosupplementation Market:
Viscosupplementation Therapy: An Ideal Choice for Osteoarthritis Patients
