Joint Pain Injections Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Joint Pain Injections Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Joint Pain Injections Market is expected to register a growth at a CAGR of 6% over the forecast period.

The COVID-19 pandemic restrictions affected the diagnosis and treatment of chronic diseases worldwide impacting the studied market. For instance, according to a research article titled "COVID-19 and Rheumatoid Arthritis" published in May 2021, older patients with rheumatoid arthritis (RA) were susceptible to COVID-19. RA patients had been affected by changes in access to care, telemedicine, drug shortages, anxiety, and social isolation, which contribute to disease flares. During the pandemic, access to therapy was constrained. 42% of patients reported canceled/postponed appointments and switched to telemedicine visits. Hence, COVID-19 had an adverse impact on the joint pain infection market.

In addition, the growing prevalence of arthritis and increasing geriatric population worldwide, and the increasing demand for knee pain injections are actively affecting the growth of the studied market.

According to World Population Prospects 2022 report, the percentage of the population aged 65 years and over in Sub-Saharan Africa is 3.0 in 2022 and projected to be 3.3 in 2030, in Northern Africa and Western Asia it is estimated to be 5.5 in 2022 and projected to be 7.0 in 2030, in Central and Southern Asia it is estimated to be 6.4 in 2022 and projected to be 8.1 in 2030, and in Europe and Northern America, 18.7 in 2022 and projected to be 22.0 in 2030. Since arthritis is more common in the geriatric population, the growth of the market segment is likely to increase as this population increases.

Furthermore, as per the Centers for Disease Control and Prevention's October 2021 update, 43% of osteoarthritis patients were 65 years of age or older in 2020. It also stated that the annual incidence of knee osteoarthritis is highest between 55 and 64 years old. More than half of individuals with symptomatic knee osteoarthritis are younger than 65. The surge in the geriatric population is expected to increase the burden of osteoarthritis and other disorders which is likely to augment the growth of the studied market over the forecast period.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. however, the high costs of the injections and reimbursement issues are likely to impede the market growth.

Key Market TrendsHyaluronic Acid Injections Segment is Expected to Witness Growth Over The Forecast Period.

Injections of hyaluronic acid are used to relieve osteoarthritis (OA)-related knee pain in patients who have already tried unsuccessful therapies such as acetaminophen and other painkillers. Hyaluronic acid injections have gained popularity as a non-surgical therapeutic option, particularly in light of clinicians' general reluctance to provide intraarticular corticosteroid injections repeatedly.

The market players are extensively focusing on developing novel products with many advantages and launching products frequently. For instance, In August 2021, Seikagaku Corporation launched HyLink, an intra-articular single-injection Visco supplement for the treatment of knee osteoarthritis in Taiwan, through TCM Biotech International Corp. The main ingredient is a cross-linked hyaluronate hydrogel using cross-linking technology. The launches are anticipated to augment the segment growth over the forecast period.

North America is Expected to Dominate the Joint Pain Injections Market Over The Forecast Period

North America is expected to dominate the market due to the high prevalence of musculoskeletal disorders, growing geriatric population, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the region.

According to the Centers for Disease Control and Prevention (CDC), chronic pain caused by arthritis affects millions of people in the United States every year. About one in four adults with arthritis, 15 million people report experiencing severe joint pain related to arthritis. A high adoption rate of advanced technologies is also the factor driving the growth of the market in this region. Additionally, major market players are making considerable investments in research activities, which will eventually boost the market in North America.

According to Population Reference Bureau, 2021 estimates, it is predicted that there are likely to be 95 million Americans aged 65 and over by 2060, contributing 23% of the total population. Also, as per the Statistics Canada, 2021 census, in Canada, there was an estimated 7,021,430 people aged 65 years or above in 2021, out of which 3,224,680 were males and 3,796,750 were female. The surge in geriatric population is likely to boost the demand for joint pain injections and thus boosts the growth of the market in the region.

Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.

Competitive Landscape

The global joint pain injections market is fragmented in nature due to the presence of many companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. Some of the key market players are Anika Therapeutics, Inc., Zimmer Biomet, Bioventus LLC, Ferring B.V., sanofi-aventis LLC, Pfizer Inc., Eli Lilly and Company, Flexion Therapeutics, Inc., and Teva Pharmaceuticals among others.

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