Selbyville, Delaware, June 22, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on viscosupplementation market which estimates the global market valuation for viscosupplementation will cross US$ 5.3 billion by 2026. Growing burden of osteoarthritis among greying population will positively influence the market growth in the future. Osteoarthritis usually affects the joints in knees, hips, hands and spine and further generate high healthcare costs for patients.
Moreover, viscosupplementation is a minimally invasive technique that avoids the need for knee replacement surgery. Hence, high demand for minimally invasive procedures will boost the viscosupplementation market growth over the forecast period.
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The patients suffering from degenerative joint diseases are inclining towards the single injection viscosupplementation treatment as it provides better pain relief for approximately six months. Thus, increasing preference of single injection viscosupplementation treatment will positively impact the market growth. Moreover, market players focusing on the introduction of new products for the treatment of osteoarthritis will boost the viscosupplementation market growth in the upcoming years.
For instance, in January 2019, OrthogenRx launched TriVisc, a sodium hyaluronate for the treatment of knee osteoarthritis in a 3-injection regimen in the U.S. Such new product launches by the major players will enhance the viscosupplementation market growth over the analysis period.
The 3 injections product segment was valued at around USD 1.3 billion in 2019. Owing to the high adoption of products and availability of large number of commercialized products for the treatment of osteoarthritis, the segment will witness substantial growth over the analysis timeframe. The 3 injections treatment is provided at weekly intervals and has an ability to reduce the pain of an individual within few weeks.
The avian origin segment was valued at around USD 640 million in 2019 and is estimated to expand at a significant rate over the forecast period. The viscosupplements with avian origin play a vital role in improving lubrication thereby, reducing the mechanical overload on the joint. The hyaluronic acid produced from avian origin includes poultry materials such as cock crest. Moreover, viscosupplementation treatment with avian origin offers allergenic potential due to avian antigens.
Browse key industry insights spread across 150 pages with 182 market data tables & 14 figures & charts from the report, “Viscosupplementation Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/viscosupplementation-market
The hospitals segment held a market share of around 59% in 2019. The large share of this segment is attributed to the increasing number of hospitals and availability of appropriate viscosupplementation treatment for the patients suffering from osteoarthritis. For instance, as per the recent news article, in 2019, there were around 2,000 hospitals in Germany. Such hospitals will provide viscosupplementation treatment for the people with osteoarthritis and will ultimately generate the market growth in the projected years.
Spain viscosupplementation market was valued at USD 40.7 million in 2019 and is projected to expand at a significant CAGR over 2020-2026. Owing to the factors such as growing geriatric population and increasing prevalence of osteoarthritis among elderly population, the country will witness substantial growth in the upcoming years. For instance, according to a recently published data, in Spain, an estimated 7 million people have osteoarthritis. These patients will require viscosupplementation treatment to minimize the pain associated with the joints. Moreover, market players focusing on geographic expansions in the European countries will have a positive impact on Spain viscosupplementation market growth.
Some major findings of the viscosupplementation market report includes:
- Growing geriatric population and increasing prevalence of osteoarthritis will boost the market growth over the forecast timeframe.
- Increasing preference for single injection viscosupplementation treatment and introduction of new products by the industry players will propel the market growth.
- Competitors focus on new product launches, strategic acquisitions, mergers and partnerships in a bid to capture market share and strengthen revenue generation.
Some of the prominent players in the viscosupplementation industry are Anika Therapeutics, Inc., Aptissen, Bioventus, Chugai Pharmaceutical Co., Ltd, Johnson & Johnson Services, Inc., Mylan Inc., Zimmer Biomet, Wellchem Pharmaceuticals Pte Ltd. and Genzyme Corporation among others. These players are majorly focusing on various strategies such as mergers, acquisitions, partnerships, product approvals, new product launches and collaborations.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/viscosupplementation-market
Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Viscosupplementation industry 360⁰ synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Source of origin trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Viscosupplementation Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Growing geriatric population prone to osteoarthritis
3.3.1.2. Rising demand for minimally invasive treatments
3.3.1.3. New product launches
3.3.1.4. Increasing preference for single injection treatment
3.3.2. Industry pitfalls & challenges
3.3.2.1. High cost of hyaluronic acid treatment
3.3.2.2. Presence of alternatives for knee osteoarthritis treatment
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By source of origin
3.4.3. By end-use
3.5. COVID-19 impact analysis
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.7. Porter’s analysis
3.8. Competitive landscape, 2019
3.8.1. Company matrix analysis, 2019
3.9. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.