Burlingame, July 16, 2024 (GLOBE NEWSWIRE) -- The global Joint Pain Injections Market size is estimated to be USD 5.29 billion in 2024 and is projected to reach USD 9.46 billion in 2031 at a CAGR of 8.7% during the forecast period, as per the recent study by Coherent Market Insights. Increasing availability of novel and advanced injectable drugs for joint pain. Continuous research and development by leading pharmaceutical companies has led to the launch of injectable drugs with improved efficacy, longer duration of action and milder side effects.
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Market Dynamics:
The joint pain injections market is primarily driven by the rising geriatric population worldwide. As per WHO, the number of people aged 65 years and older is expected to reach 1.5 billion by 2050 from 703 million in 2019. Older adults are more prone to suffer from joint pain due to arthritis and other joint-related conditions. This is fueling the demand for joint injections for pain management. Additionally, advancements in joint injection products with prolonged efficacy and minimally invasive procedures for pain relief are also contributing to the market growth.
Market Trends:
Increasing preference for hyaluronic acid injections: Hyaluronic acid injections are widely used joint pain injections with benefits such as long-lasting pain relief for 6-12 months and lubrication of joints. This makes them a preferred choice over other injections and is driving significant market demand.
Joint Pain Injections Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2023 | $5.29 billion |
| Estimated Value by 2031 | $9.46 billion |
| Growth Rate | Poised to grow at a CAGR of 8.7% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Injection Type, By Joint Type, By Distribution Channel |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Rise in the Obesity Rates • Increasing Product Approvals by Regulatory Authorities |
| Restraints & Challenges | • Presence of Alternative Treatment Options • Risk of Side Effects |
Rising popularity of stem cell therapy: Emerging stem cell therapies that utilize mesenchymal stem cells extracted from bone marrow, adipose tissue or other tissues exhibit potential in treating degenerative joint diseases by repairing cartilage and limiting inflammation. Continuous research to enhance their efficacy is expected to unlock new opportunities in the market.
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Market Opportunities:
Steroid joint injections involve injecting corticosteroids directly into the joint cavity. Corticosteroids help reduce pain and inflammation by blocking the production of prostaglandins. They are very effective for providing short-term relief from pain associated with osteoarthritis or other joint disorders. Steroid injections are commonly used to treat pain in the knee, shoulder, hip, elbow, and wrist joints. As they provide quick relief, steroid joint injections remain one of the most popular minimally invasive treatment options for joint pain.
Hyaluronic acid injections involve administering hyaluronic acid directly into the affected joint. Hyaluronic acid is a natural lubricant that helps reduce friction in the joints. It also promotes healing of injured joint tissues. Hyaluronic acid injections are well-suited for treating pain caused by osteoarthritis as they supplement the lubricating fluid within the joints. They have fewer side effects than corticosteroids and can provide pain relief for a longer duration of up to 6 months. As such, hyaluronic acid injections are gaining traction as an effective alternative to steroid injections.
Key Market Takeaways:
The global joint pain injections market is anticipated to witness a CAGR of 8.7% during the forecast period 2024-2031, owing to the rising geriatric population and increasing prevalence of osteoarthritis and rheumatoid arthritis.
On the basis of injection type, the steroid joint injections segment is expected to hold a dominant position, accounting for over 30% market share owing to their quick pain relieving effects. Within this segment, the knee and shoulder injections are most commonly administered.
By application, the knee & ankle segment is expected to dominate the market due to the high incidence of knee osteoarthritis. Knee joints bear the maximum weight of the body and are prone to wear and tear as people age.
Regionally, North America is expected to dominate the joint pain injections market through 2031, owing to the rising obesity rates and growing geriatric population in the US and Canada which is increasing the burden of joint disorders.
Some of the leading players operating in the joint pain injections market include Zimmer Biomet, Anika Therapeutics, Inc., Bioventus LLC, Ferring B.V., Seikagaku Corporation, Chugai Pharmaceutical Co., Ltd., among others. These players are focusing on new product launches and geographic expansion to strengthen their market position.
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Recent Developments:
In March 2022, Green Roads, a subsidiary of the Valens Company, made a USD 120,000 donation to the Arthritis Foundation in support of the organization's pain management initiative to advance the improved quality of life for those who live with chronic pain. This donation made Green Roads an official supporting sponsor of the Arthritis Foundation.
In January 2022, AbbVie received the United States Food and Drug Administration (FDA) approval for SKYRIZI (risankizumab-rzaa) for the treatment of adults with active psoriatic arthritis (PsA), which can be administered with a single injection four times a year.
Detailed Segmentation:
By Injection Type:
- Corticosteroid Injection
- Hyaluronic Acid Injection
- Platelet Rich Plasma Injection
- Others
By Joint Type:
- Knee and Ankle
- Hip Joint
- Hand and Wrist
- Other
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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