As per comprehensive market analysis and research, the viscosupplementation industry size is expected to witness substantial growth, reaching a value of US$ 2.89 billion by 2030. This prediction marks a significant increase from its estimated worth of US$ 1.98 billion in 2022.
The global viscosupplementation market is forecasted to expand at a Compound Annual Growth Rate (CAGR) of 4.8% from its current standing, highlighting a continuous upward trajectory in demand and market reach. This anticipated growth is attributed to various factors, including increasing awareness about advanced treatment options, rising incidences of osteoarthritis, and ongoing advancements in medical technology and product development.
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There are millions of people suffering from joint discomfort in the world. It can drastically reduce movement and worsen quality of life while also creating discomfort. However, Viscosupplementation Market, a cutting-edge therapy alternative, is now accessible because to developments in medical technology. This novel strategy has received a lot of attention recently and is revolutionising how we treat joint pain.
To reduce pain and enhance joint function, viscosupplementation involves injecting hyaluronic acid (HA) into the troubled joint. Synovial fluid, which lubricates and cushions joints, contains hyaluronic acid, a naturally occurring molecule. The concentration of HA falls in people with osteoarthritis, which exacerbates joint damage and pain.
This market, which has been relatively less affected by COVID-19-induced sluggishness, will increase as a result of a combination of general and industry-specific causes, the report claims. The UN predicts that by 2050, people 60 and older will make up more than 20% of the world’s population. In other words, the UN estimates that 130 million people will have osteoarthritis by 2050. These numbers suggest that during the projection period, the viscosupplementation market will grow.
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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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).
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.
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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
Viscosupplementation Market by End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
- Retail Pharmacies
- Online Sales
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