The global viscosupplementation market is on a robust growth trajectory, projected to achieve a market size of USD 2,167.3 million by 2024. The market is anticipated to continue its upward trend with a strong compound annual growth rate (CAGR) of 5.7%, reaching an impressive USD 3,777.4 million by 2034.
Viscosupplementation, a non-surgical therapy that uses hyaluronic acid-based formulations, is becoming increasingly popular among individuals seeking relief from osteoarthritis (OA) and lifestyle-related ailments. This growth is primarily driven by the rising prevalence of OA and the increasing need for effective treatment options.
Key Drivers of Market Growth:
- Rising Osteoarthritis Prevalence: With an aging global population, the incidence of osteoarthritis is climbing, fueling the demand for viscosupplementation treatments.
- Preference for Non-Surgical Treatments: Viscosupplementation offers a non-invasive alternative to surgery, aligning with the growing patient preference for less invasive therapies.
- Clinical Benefits of Viscosupplements: Existing viscosupplements have demonstrated significant clinical benefits, particularly for knee osteoarthritis, enhancing their appeal.
Challenges and Constraints:
Despite its growth prospects, the viscosupplementation market faces several challenges:
- High Costs: Viscosupplementation treatments can be relatively expensive, impacting adoption rates, especially in regions with constrained healthcare budgets.
- Regulatory Hurdles: Strict regulatory standards and approval procedures can delay product launches and increase development costs.
Regional Insights:
- Asia Pacific: Dominates the global viscosupplementation market due to its large aging population and preference for non-surgical treatments. The region’s market is driven by cultural norms and a high incidence of osteoarthritis.
- North America: Expected to experience significant growth driven by the rising prevalence of osteoarthritis, well-developed healthcare infrastructure, and increasing demand for non-surgical procedures.
- China: The market in China is forecasted to grow at the highest CAGR of 9.0%, reflecting a substantial increase in demand for viscosupplementation.
- Europe and Japan: Both regions are poised for steady growth, with notable CAGRs of 4.0% and 8.5%, respectively.
Key Market Segments:
- Product Type: Three Injection Viscosupplementation is projected to capture 48.4% of the market share from 2024 to 2034.
- End User: Ambulatory Surgical Centers are expected to hold a significant market share of 31.9% during the same period.
Noteworthy Developments:
- In April 2022, Juniper Biologics and Kolon Life Sciences entered an agreement to license TissueGene-C low dose (TG-C LD), a single intra-articular injection treatment for knee osteoarthritis.
- May 2021 saw the launch of JOYCLU 30 mg intra-articular injection by Ono Pharmaceutical Co., Ltd. and Seikagaku Corporation.
- Anika Therapeutics, Inc. introduced Hyalofast, a hyaluronic acid-based scaffold for cartilage regeneration, at an event hosted by the International Cartilage Regeneration and Joint Preservation Society (ICRS).
Gain Full Insight: Access the Complete Viscosupplementation Market Report
Competitive Landscape:
Major players in the viscosupplementation market, including Sanofi S.A., Zimmer Biomet Holdings Inc., and Bioventus LLC, are focusing on developing advanced cross-linked hyaluronic acid products and expanding into new regions to gain a competitive edge.
Prominent Viscosupplementation Manufacturers:
- Anika Therapeutics Inc.
- Fidia Farmaceutici S.p.A.
- Ferring B.V.
- Seikagaku Corporation
- Chugai Pharmaceutical Co., Ltd.
- OrthogenRx Inc.
- Mylan N.V.
Key Segments:
By Product:
- Single Injection
- Three Injection
- Five Injection
By Application:
- Knee Osteoarthritis
- Hip Osteoarthritis
- Shoulder Osteoarthritis
- Others
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
- Retail Pharmacies
- Online Sales
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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