IMARC Group, a leading market research company, has recently released a report titled “Viscosupplementation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. The study provides a detailed analysis of the industry, including the viscosupplementation market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Viscosupplementation Market?
The global viscosupplementation market size reached US$ 4.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028.
What is Viscosupplementation?
Viscosupplementation is a minimally invasive medical procedure that involves the injection of a gel-like fluid derived from exogenous hyaluronic acid (HA) directly into the knee joints, which acts as a lubricant, facilitating smooth movement between bones, reducing inflammation, and serving as a shock absorber for joint loads of the patients. It minimizes friction during the movements, helps the synovial fluids create more cushion, alleviates severe pain, and enhances the motions or movements in the joint. Moreover, it restores the rheological properties of the synovial fluids, resulting in mechanical, analgesic, anti-inflammatory, and chondroprotective effects. Moreover, it is available in high molecular weights, including intermediate, low, and high, to treat osteoarthritis in the knee, hip, and hand, catering to different patient needs and preferences. Nowadays, viscosupplementation is widely adopted in hospitals and orthopedic clinics across the globe.
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What are the growth prospects and trends in the viscosupplementation industry?
The market is primarily driven by the growing occurrences of osteoporosis and osteoarthritis (OA) due to reduced bone strength and less bone mineral density, and bone mass owing to some variation in bone structure quality. Additionally, the growing geriatric population, increasing prevalence of obesity, the rising demand for non-surgical treatment options for osteoarthritis, and the widespread adoption of viscosupplementation for joint pain management and as an alternative to corticosteroids are contributing to the market growth. In line with this, the numerous benefits of non-surgical treatments, such as minimized expenses, lower complications, minimal invasiveness, and improved clinical outcomes and recovery rates, are influencing the market growth. Moreover, numerous favorable government initiatives and investments by pharmaceutical companies in introducing novel drugs and different administration routes represent another major growth-inducing factor. Besides this, the development of hyaluronic acid-based therapies and the presence of ambulatory surgical centers (ACS) that provide comprehensive treatment for surgical and non-surgical issues in numerous body parts, including ligaments, muscles, joints, nerves, and spines, are accelerating the product adoption rate. Apart from this, the viscosupplementation market is growing at different rates in numerous regions, with North America being the largest market due to the growing geriatric population prone to disorders, such as osteoarthritis, and the availability of affordable health insurance reimbursement policies across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in May 2021, Ono Pharmaceutical Co., Ltd. and Seikagaku Corporation introduced JOYCLU 30mg intra-articular injection, a joint function improvement agent for which Seikagaku received the production and marketing approval in March 2021 in Japan. Furthermore, favorable health insurance reimbursement policies, collaborations and partnerships among key players, and continuous research and development (RD) activities in the medical field are creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Single Injection
- Three Injection
- Five Injection
Age Group Insights:
- Adults
- Geriatrics
Distribution Channel Insights:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Application Insights:
- Knee Osteoarthritis
- Hip Osteoarthritis
- Hand Osteoarthritis
- Others
End Use Insights:
- Hospitals
- Orthopedic Clinics
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Anika Therapeutics Inc.
- Aptissen S.A.
- Bioventus LLC
- Ferring Pharmaceuticals
- Fidia Farmaceutici S.p.A.
- Johnson Johnson
- LG Chem Ltd.
- OrthogenRx Inc. (Avanos Medical Inc.)
- Sanofi S.A.
- Seikagaku Corporation
- Virchow Biotech Private Limited
- Zimmer Biomet
- Zuventus HealthCare Ltd. (Emcure Pharmaceuticals Limited)
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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