The market for viscosupplementation equipment is expected to reach $1.98 billion by 2022. According to extensive market research, the global Viscosupplementation Market is expected to grow at a CAGR of 4.8% from current levels to reach a market value of US$ 2.89 billion by 2030.
According to the study, a number of broader and industry-specific factors will drive growth in this market, which has been relatively less impacted by COVID-19-induced sluggishness. According to the UN, by 2050, those aged 60 and up will account for more than 20% of the global population. In other words, the UN predicts that by 2050, approximately 130 million people will have osteoarthritis. These figures indicate that the viscosupplementation market will expand during the forecast period.
Joint lubrication therapy is a medical treatment that involves injecting a gel-like substance called hyaluronic acid into a joint affected by osteoarthritis. Hyaluronic acid is a natural component of synovial fluid, the lubricating fluid that cushions and protects the joints. In osteoarthritis, the amount and quality of hyaluronic acid in the synovial fluid are reduced, leading to pain, stiffness, and decreased mobility.
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Covid-19 Pandemic: Viscosupplementation Market Players Consolidating their Position The ongoing Covid-19 pandemic has compelled the market players to take a consistent path for the next two quarters. As it would take some time for the healthcare vertical to look through new product launches; the players are looking at ways to smoothen the supply chain as manpower has taken a hit.
Top Key Players Covered-
- Sanofi S.A.
- Zimmer Biomet Holdings Inc.
- Bioventus LLC
- Anika Therapeutics Inc.
- Fidia Farmaceutici S.p.A.
- Ferring B.V.
- Seikagaku Corporation
- Chugai Pharmaceutical Co., Ltd.
- OrthogenRx Inc.
- Mylan N.V.
Key Takeaways of Viscosupplementation Market Study
- Three injection viscosuppplementation is expected to contribute for more than 55% of revenue share
- Knee osteoarthritis is expected to gain around one-third of market share during the forecast period
- North America is the highest revenue generating market due to scientific advancements and high adoption of viscosuppplementation
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New Product Development to be the TorchbearerThe market players are into the innovation mode to strengthen their foothold in the viscosupplementation market. This competitive landscape is all set to create ripples all across the market. Some of the innovations are:
- Fidia Pharma USA Inc., in 2019, introduced a HA (Hyaluronic Acid) based intra-articular viscosupplement called “TRILURON” to treat knee osteoarthritis. The treatments cycle involves 3 injections at weekly intervals.
- Japan-based Seikagaku Corporation, in Mar 2019, launched an intra-articular single-injection viscosupplement called “HyLink” in Italy for treating knee osteoarthritis.
- Recently, Gel-One Hyaluronate was approved as one of the injectable gels to treat osteoarthritis of knee. The pre-market clinical study reported no pseudosepsis (severe acute inflammatory responses).
Key Segments of Viscosupplementation Industry Survey
Viscosupplementation Market by Product:
- Single Injection Viscosupplementation
- Three Injection Viscosupplementation
- Five Injection Viscosupplementation
Viscosupplementation Market by Application:
- Knee Osteoarthritis
- Hip Osteoarthritis
- Shoulder Osteoarthritis
- Others
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Viscosupplementation Market by End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
- Retail Pharmacies
- Online Sales
Explore Other Reports Links From Healthcare Market:
- https://janjaonline.mn.co/posts/retail-clinics-market-latest-trends-regional-insights-and-global-industry-dynamics-by-2028
- https://kansabook.com/read-blog/93600
- https://masterpaper.mn.co/posts/33541784
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