Viscosupplementation Market By Type (Single Injection Viscosupplementation, Three Injection Viscosupplementation, Five Injection Viscosupplementation), By Application (Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, Others), By Distribution channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global viscosupplementation market was valued at $4,426.4 million in 2021, and is projected to reach $10,914.4 million by 2031, registering a CAGR of 9.5% from 2022 to 2031. Viscosupplementation, is a safe, non-surgical treatment for osteoarthritis. It is Food and Drug Administration (FDA)-approved and more successful for the treatment of patients with early-stage arthritis. During viscosupplementation, a gel-like material (hyaluronic acid) is pushed into the kneecap. The naturally occurring chemical hyaluronic acid is found in the synovial fluid that surrounds joints. It lubricates joints to allow bones to move freely and lessen discomfort. Hyaluronic acid levels in the joints are lower in those with osteoarthritis, which causes pain. The injected gel, which is produced in biological research facilities, functions as a cushion and lubricates the joints. Hyaluronic acid forms protein-protein bonds with a variety of proteins, making ligaments more resilient under strain.
The viscosupplementation market is driven by rise in the prevalence of osteoarthritis, increasing geriatric population and rise in adoption of minimally invasive surgeries. Geriatric population is more susceptible to osteoarthritis, therefore rise in the geriatric population anticipated to fuel the demand of viscosupplementation. Thus, this factor is attributes to drive the growth of viscosupplementation market. For instance, according to the World Health Organization (WHO) in October 2021, by 2030, 1 in 6 population in the world will be aged 60 years or over. In addition, rise in the prevalence of osteoarthritis anticipated to fuel the demand of viscosupplementation, henceforth anticipated to boost the growth of viscosupplementation market. For instance, according to Centers for Disease Control, (CDC), it was reported that, by 2040, an estimated 78 million (26%) US adults aged 18 years or older are projected to have doctor-diagnosed arthritis. In addition, rise in the demand for minimally invasive viscosupplementation procedures for treatment of osteoarthritis will enhance the industry growth. The minimally invasive treatment replaces synovial fluid by intra-articular injection of hyaluronic acid. As the cost of minimally invasive procedures is significantly less than the conventional procedures, the market will witness considerable growth during the forecast period.
In addition, governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, the U.S. health care spending grew by 9.7% from 2019 to 2020 reaching $4.1 trillion ($12,530 per person). Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it has been estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure, especially medical equipment, medicine and material used at public health centers, such as hospitals. Hence, rise in healthcare expenditure across the globe is expected to fuel the demand for viscosupplementation application in osteoarthritis treatment, thereby boosting the market growth.
On the other hand, high cost of hyaluronic acid and presence of alternative for knee osteoarthritis treatment are some factors that are anticipated to restrain the growth of the viscosupplementation market.
The viscosupplementation market is segmented on the basis of product, application, distribution channel, and region. On the basis of product, the market is segmented into single injection viscosupplementation, three injection viscosupplementation and five injection viscosupplementation. On the basis of application, the market is bifurcated into knee osteoarthritis, hip osteoarthritis, hand osteoarthritis and others. On the basis of knee osteoarthritis market is divided into gender. On the basis of distribution channel, the market is classified into hospital pharmacies, retail pharmacies and online pharmacies. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global viscosupplementation market include Seikagaku Corporation, Anika Therapeutics, Inc. APTISSEN, Avanos Medical, Inc., Bioventus, Chugai Pharmaceutical Corp., Fidia Farmaceutici S.P.A, Laboratoires VIVACY, LG Life Sciences Ltd., Miravo Healthcare, Neopharmed Gentili S.p.A., Sanofi, SingHealth Group., Smith & Nephew PLC, Viatris, Zimmer Biomet.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the viscosupplementation market analysis from 2021 to 2031 to identify the prevailing viscosupplementation market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the viscosupplementation market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global viscosupplementation market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Single Injection Viscosupplementation
Three Injection Viscosupplementation
Five Injection Viscosupplementation
By Application
Others
Knee Osteoarthritis
Gender
Male
Female
Hip Osteoarthritis
Hand Osteoarthritis
By Distribution channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest Of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
Seikagaku Corporation
Anika Therapeutics, Inc.
aptissen
Avanos Medical, Inc.
Bioventus
Chugai Pharmaceutical Corp.
Fidia Farmaceutici S.P.A
LG Life Sciences Ltd.
Sanofi
Miravo Healthcare
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook