Seattle, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global viscosupplementation market is estimated to be valued at US$ 3,146.7 million in 2022 and is expected to exhibit a CAGR of 8.2% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Viscosupplementation Market:
Increasing adoption of inorganic growth strategies by key players in market such as acquisitions is expected to drive market growth over the forecast period. In addition, the increasing demand for non-surgical treatments for osteoarthritis, the prevalence of lifestyle-induced disorders, and advancements in the development of hyaluronic acid-based therapies are some of the factors expected to drive the market. Moreover, increase in the research and development activities by key market players to develop novel treatment for osteoarthritis (OA) is expected to drive the global viscosupplementation market for the forecast period. For instance, in August 2021, Flexion Therapeutics, Inc., an American biopharmaceutical company, announced the positive results from the randomized, open-label, Phase 2 pharmacokinetic (PK) trial of ZILRETTA (triamcinolone acetonide extended-release single injectable suspension), for the treatments of patients with shoulder osteoarthritis (OA) and adhesive capsulitis (AC) trial.
For instance, in January 2021, Miravo Healthcare, a Canadian healthcare company, launched NeoVisc+ 2 mL and NeoVisc ONE 4 mL (replaces the natural lubricating and shock absorbing properties of the joint fluid.), for the treatment of pain and improvement of joint functionality in patients affected by degenerative (age-related changes) or mechanical arthropathy (related to overuse) of the knee, in Canada.
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Key Market Takeaways:
The global viscosupplementation market is expected to exhibit a CAGR of 8.2% during the forecast period due to increasing number of FDA approvals for three-injection viscosupplements is expected to positively impact the segment growth. For instance, on January 22, 2019, OrthogenRx, a medical device company focused on the development and commercialization of treatments for knee pain caused by osteoarthritis (OA), announced launch of TriVisc (sodium hyaluronate), for the treatment of patients with osteoarthritic (OA) knee pain who have failed to get adequate relief from simple painkillers or from exercise and physical therapy. TriVisc is a solution of highly purified hyaluronic acid (sodium hyaluronate; HA) and helps supplement the viscous properties of the fluid in the knee joint.
Among treatment type, the single injection treatment cycle segment is expected to witness significant growth over the period, owing to the factors such as providing greater physician and patient convenience, high demand for outpatient surgeries that focus on offering same-day surgical care, including preventive (surgical) and diagnostic procedures, and increasing focus of companies to develop single injection for the treatment of osteoarthritis and rising product launches.
Among region, North America is expected to dominate the global viscosupplementation market over the forecast period, owing to factors such as the rising prevalence of osteoarthritis and related disorders, the rising geriatric population, well-developed healthcare infrastructure, and the increasing demand for non-surgical procedures. The rising burden of arthritis, osteoarthritis, and knee pain is the key factor driving the demand for the viscosupplementation market in the region. For instance, according to Statistics Canada 2021, approximately 5.9 million adult Canadians had arthritis in 2020.
Competitive Landscape:
Key players operating in the global viscosupplementation market include Anika Therapeutics Inc., Seikagaku Corporation, Ferring Pharmaceuticals, Bioventus, Fidia Farmaceutici S.P.A., Mylan N.V., Sanofi S.A., OrthogenRx, Teva Pharmaceutical Industries Ltd, and Johnson & Johnson.
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Market Segmentation:
- Global Viscosupplementation Market, By Treatment:
- Single Injection Treatment Cycle
- Three Injection Treatment Cycle
- Five Injection Treatment Cycle
- Global Viscosupplementation Market, By Application:
- Knee Osteoarthritis
- Hip Osteoarthritis
- Others
- Global Viscosupplementation Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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