The latest industry analysis has unveiled a significant upward trajectory in the global viscosupplementation market, highlighting a substantial growth projection. The market, valued at US$ 1.98 Billion in 2022 for viscosupplementation equipment sales worldwide, is anticipated to burgeon at a robust Compound Annual Growth Rate (CAGR) of 4.8%. These insights forecast a remarkable market valuation reaching US$ 2.89 Billion by 2030.
The comprehensive analysis dives deep into the dynamics fueling this expansion, attributing the market’s growth to a confluence of factors. Factors such as the rising prevalence of osteoarthritis, an aging population, and advancements in medical technology driving the adoption of viscosupplementation procedures are identified as pivotal drivers in this progression.
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Viscosupplementation, a minimally invasive procedure involving injections of hyaluronic acid into joints to alleviate pain and improve joint mobility, has garnered increased attention owing to its effectiveness and minimal side effects compared to conventional treatments.
“The projected growth of the viscosupplementation market signifies a paradigm shift in the approach toward managing joint-related ailments globally,” states Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.), a renowned industry analyst. “With an aging population and a surging incidence of osteoarthritis cases, there’s a burgeoning demand for innovative and minimally invasive solutions, thus propelling the growth of the viscosupplementation equipment market.”
The study emphasizes regional dynamics, highlighting North America’s dominance in the viscosupplementation market due to high healthcare expenditure and an increasing geriatric population. Additionally, the analysis sheds light on emerging markets in Asia-Pacific, showcasing potential growth opportunities propelled by improving healthcare infrastructure and rising awareness about advanced treatment options.
In conclusion, the forecasted surge in the global viscosupplementation equipment sales underscores a promising landscape for stakeholders, including manufacturers, healthcare providers, and investors. The market’s upward trajectory reflects not only a demand for effective solutions but also a shift towards patient-centric care and innovative medical interventions.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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