A worth of US$ 4.49 billion was projected for the Europe viscosupplementation market in 2022. By the end of 2023, the market is expected to be valued US$ 4.91 billion. The European viscosupplementation market is anticipated to develop at a 9.37% compound annual growth rate (CAGR) and reach a worth of US$12.03 billion by 2033.
Over the projection period, rising osteoarthritis rates are anticipated to fuel market expansion for European viscosupplementation. For instance, a publication in the National Library of Medicine Journal in September 2022 said that the age-standardized point prevalence and annual incidences of rheumatoid arthritis were 446.6 and 24.9 in 2021, respectively, up 12.4% and 9.9% from 2001.
The number of elderly individuals admitted to hospitals due to deadly traumatic injuries rises directly to the aging population. The need for treatment and diagnosis is growing as knee osteoarthritis illnesses become more common. The need for care, services, and technology for both the avoidance and treatment of knee osteoarthritis disorders, including osteopenia, osteoporosis, and other consequences, proportionally increases with the growing need for adequate treatment.
The elderly are especially vulnerable to these diseases that cause brittle bones and joints. The method uses viscosupplementation to give such people quick and effective advantages related to their bodies.
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Key Takeaways:
- The market for viscosupplementation in Europe expanded at a CAGR of 3.3% from 2018 to 2022.
- The United Kingdom viscosupplementation market is anticipated to grow at a CAGR of 9.8% throughout the projected period.
- From 2023 to 2033, the France viscosupplementation market is anticipated to grow at a 9.1% CAGR.
- Germany’s share of the European viscosupplementation market is expected to grow by 8.2% between 2023 and 2033.
- During the anticipated period, the Spain viscosupplementation market is expected to grow at a 6.3% CAGR.
- The market for viscosupplementation in Italy is anticipated to grow at a CAGR of 5.7% over the projected period.
- A 7.9% CAGR is anticipated for the hospitals category over the course of the projection period.
- For single injection viscosupplementation, a CAGR of 8.2% is estimated for the anticipated time frame.
“Increasing joint injuries and awareness towards various wellness programs to boost the Europe viscosupplementation market growth,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI) analyst.
Competitive Landscape:
The use of cutting-edge technology by major manufacturers in the production of viscosupplementation is expected to raise the demand for cryotherapy technologies in Europe.
Key Developments:
- Anika Therapeutics, Inc. declared in 2022 that Health Canada has approved using CINGAL as a medical instrument for treating knee osteoarthritis (O.A.)-related pain.
- An exclusive global collaborative agreement to develop, produce, and sell IgM antibody agonists for three cancer targets and three immunology/inflammation targets was finalized in 2022, according to a press release from Sanofi S.A. and IGM Bioscience.
- With the debut of its revolutionary portfolio in Spain in 2022, Fidia Farmaceutici S.p.A. leveraged the restorative power of hyaluronic acid. At the 20th Aesthetic & Anti-aging Medicine World Congress 2022 (AMWC) in Monte Carlo, Fidia Farmaceutici S.p.A. showcased its Aesthetic Care portfolio together with a scientific symposium on its ground-breaking ACP (Auto-Crosslinked Polymer) technology.
Key Segments:
By Product:
- Single Injection
- Three Injection
- Five Injection
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
By Region:
- Western Europe
- Eastern Europe
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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