New York, United States , June 14, 2024 (GLOBE NEWSWIRE) -- The Global Viscosupplementation Market Size is to Grow from USD 4.20 Billion in 2023 to USD 9.15 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.10% during the projected period.
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Viscosupplementation is a medical treatment in which a gel-like substance called hyaluronic acid is injected into a joint, typically the knee, to help primarily alleviate joint pain, most commonly associated with osteoarthritis. Viscosupplementation is a treatment for osteoarthritis that involves injecting hyaluronic acid into the joint to improve the viscosity of synovial fluid. This treatment aims to reduce friction, inflammation, and pain while improving mobility and the overall health of the joint. It provides mechanical, analgesic, anti-inflammatory, and chondroprotective benefits, and is commonly used for knee, hip, and hand osteoarthritis. Solutions of hyaluronic acid used in viscosupplementation vary in molecular weight, and the treatment helps restore the natural lubrication of the joint fluid, thereby alleviating symptoms of osteoarthritis. The global viscosupplementation market is growing due to an aging population, increased incidence of osteoarthritis from obesity and sedentary lifestyles, and greater awareness of this minimally invasive treatment. Technological advancements, such as single-injection hyaluronic acid treatments, and improved healthcare spending in developing regions also boost market growth. However, the viscosupplementation market faces barriers like high production costs, regulatory challenges, low consumer awareness, and distribution issues. Factors like varying standards, limited scientific evidence, and higher costs in developing countries contribute to slower uptake. Additionally, patient reluctance towards repeated injections impacts market growth.
Browse key industry insights spread across 249 pages with 110 Market data tables and figures & charts from the report on the 'Global Viscosupplementation Market Size, Share, and COVID-19 Impact Analysis, By Dosage (Single Injection, Three Injection, and Five Injection), By Arthritis Type (Osteoarthritis and Rheumatoid Arthritis), By End User (Hospitals, Specialty Clinics, Home Healthcare, Ambulatory Surgical Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The three-injection segment is anticipated to hold the greatest share of the global viscosupplementation market during the projected timeframe.
Based on the dosage, the global viscosupplementation market is categorized into single-injection, three-injection, and five-injection. Among these, the three-injection segment is anticipated to hold the greatest share of the global viscosupplementation market during the projected timeframe. The three-injection treatment is the most often used method for treating osteoarthritis due to its effectiveness. In situations of osteoarthritis, physicians frequently recommend three injections to avoid total knee replacement surgery. Furthermore, the presence of multiple three-injection divisions in the market contributes to increased market share.
The osteoarthritis segment is estimated to hold the largest market share of the global viscosupplementation market through the forecast period.
On the basis of arthritis type, the global viscosupplementation market is divided into osteoarthritis and rheumatoid arthritis. Among these, the osteoarthritis segment is estimated to hold the largest market share of the global viscosupplementation market through the forecast period. The vast number of eligible patients makes it the market's leading category. Furthermore, the degenerative nature of osteoarthritis frequently restricts the effectiveness of other treatments, such as drug management alone.
The hospital segment is predicted to hold the highest market share during the projected time period.
Based on the end-users, the global viscosupplementation market is classified into hospitals, specialty clinics, home healthcare, ambulatory surgical centers, and others. Among these, the hospital segment is predicted to hold the highest market share during the projected time period. This is attributable to increasing patient numbers, superior medical infrastructure, specialized healthcare workers, better insurance coverage, and complete care accessible in hospitals.
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North America is expected to hold the largest share of the global viscosupplementation market over the forecast period.
North America is expected to hold the largest share of the global viscosupplementation market over the forecast period. North America is expected to hold the highest market share due to several factors, including a high prevalence of osteoarthritis, advanced healthcare infrastructure, high awareness and acceptance of treatments, favorable reimbursement policies, strong R&D activities, a supportive regulatory environment, and higher disposable incomes.
Asia Pacific is predicted to grow at the fastest pace in the global viscosupplementation market during the projected timeframe. Countries such as China, India, Japan, and South Korea are seeing a large increase in knee osteoarthritis cases due to an aging population and the increased prevalence of lifestyle disorders. Several significant driving aspects of this growth include the increasing prevalence of osteoarthritis, expanding awareness and acceptance of viscosupplementation, advancements in healthcare infrastructure, rising disposable incomes, supportive government initiatives, and increasing healthcare spending.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Viscosupplementation Market are Sanofi, Hoffmann-La Roche, Bioventus, Zimmer Biomet, Anika Therapeutics Inc., Seikagaku Corporation, Mylan N.V., Aptissen, Ferring Pharmaceuticals, OrthogenRx, Johnson and Johnson, Ono Pharmaceuticals, Lifecore Biomedical, F.Hoffmann, and Other Key Vendors.
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Recent Developments
- In November 2022, Anika Therapeutics, Inc., a leading joint preservation firm, successfully met the primary endpoint of the Phase III Study for Cingal. This drug is designed to provide long-term pain relief for people with knee osteoarthritis (OA). Cingal's FDA clearance and introduction into the United States are the company's top priorities. Successful trials of this sort enable companies to improve their research.
- In August 2021, Seikagaku Corporation launched HyLink, an intra-articular single injection viscosupplement for treating knee osteoarthritis in Taiwan. HyLink, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis, was launched in Taiwan.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global viscosupplementation market based on the below-mentioned segments:
Global Viscosupplementation Market, By Dosage
- Single-Injection
- Three-Injection
- Five-Injection
Global Viscosupplementation Market, By Arthritis Type
- Osteoarthritis
- Rheumatoid Arthritis
Global Viscosupplementation Market, By End User
- Hospitals
- Specialty Clinics
- Home Healthcare
- Ambulatory Surgical Centers
- Others
Global Viscosupplementation Market, Regional Analysis
North America
-
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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