New York, USA, Dec. 21, 2020 (GLOBE NEWSWIRE) -- According to a report by Research Dive, the global viscosupplementation market is estimated to garner $5,866.2 million at a CAGR of 10.6% during the forecast period. The all-inclusive report provides a brief summary on the current scenario of the market including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during and post the pandemic era. The report also offers the market figures which makes it easier and more beneficial for the new participants to understand the real-time market.
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Factor Impacting the CAGR Figures Pre and during COVID-19
The report discloses the real-time CAGR recorded by the market during the pandemic. According to the report, the viscosupplementation market has earned a CAGR of 10.6% during the last few months of crisis, while the pre-COVID-19 estimation was only 10.2%. The reason behind this growth is the rising prevalence of osteoarthritis among the old and the obese population.
Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
The comprehensive report states that the real-time market size has surpassed the pre-Covid-19 approximations. The real-time market size has garnered a revenue of $2,903.3 million, while it was estimated to reach to $2,845.3 million as per the previous analysis. The main attributors behind this growth is the growing investments in the research and developments of the viscosupplementation market.
Post Pandemic Insights
The global viscosupplementation industry is going to withstand its demand and growth after the pandemic ends. The demand of the non-surgical treatment is expected to remain at the same high in the upcoming years too, as it is widely convenient and cost-effective for the arthritis patients.
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Recent Developments in the Market
According to the report, the key players of the global market of viscosupplementation include -
- OrthogenRx
- Anika Therapeutics, Inc.
- Aptissen
- Zimmer Biomet
- Stellar Pharmaceuticals Inc.
- Bioventus
- Ecnofarma S.A.
- Fidia Farmaceutici S.p.A.,
- TRB Chemedica International SA
- Dr. Reddy’s Laboratories Ltd.
These players of the market are currently focusing on R&D, mergers and acquisitions, product launches, partnerships, collaborations, and other strategies. For instance, in December 2019, Fidia, a global leader in research and production of hyaluronic acid-based products introduced the 3-injection regimen TRILURON. It is an intra-articular viscosupplement invented for the treatment of osteoarthritis pain of the knee.
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