The global knee hyaluronic acid injections market is set to witness significant growth over the next decade, according to recent industry projections. In 2023, the market is expected to secure a valuation of USD 2.09 billion, and by 2033, it is anticipated to surge to USD 3.40 billion, marking a steady 5% compound annual growth rate (CAGR) during the forecast period.
Rising Demand for Non-surgical Alternatives Drive the Global Market
Various driving factors influence the market. A few of these factors are as follows:
- Increasing Prevalence of Osteoarthritis: The growing aging population and the prevalence of osteoarthritis affecting new joints fuel the global market. The adoption of knee hyaluronic acid injections reduces obesity, relieves pain, and provides minimally invasive treatment options.
- Non-surgical Alternative: The adoption of knee hyaluronic acid injections is growing among individuals that face knee osteoarthritis to delay joint replacement surgery. These injections reduce unbearable pain and improve joint movement advancing the global market.
- Growing Awareness: Patients and healthcare professionals are growing awareness about the essential benefits related to knee hyaluronic acid injections. Various research studies found the safety and efficacy of these injections in treating knee osteoarthritis.
- Advanced Technologies: The growing advanced technologies improve the durability and effectiveness of knee hyaluronic acid injections. New formulations are designed to improve joint lubrication and reduce long-lasting pain to satisfy patience.
- Favorable Reimbursement Policies: Reimbursement policies by healthcare providers play a crucial role in driving the global market. Insurance plans cover these injections and are flourishing in demand.
- Patients’ Conservative Treatments: Various patients prefer conservative treatment before surgical interventions. These knee hyaluronic acid injections lower the risk of surgery and are less invasive.
- Advantages Over Other Therapies: The demand for knee hyaluronic acid injections offers better treatment than other modalities, including oral pain medications. These injections relieve joint pain, lower side effects, and slow down the progression of osteoarthritis.
Key Takeaways:
- The knee hyaluronic acid injections market is estimated to secure a valuation of US$ 3.40 billion with a CAGR of 5% by 2033.
- In the historical period, the market captured a valuation of US$ 1.99 billion in 2022.
- The United States is leading the global market by securing a maximum share during the forecast period.
- Ambulatory Surgical Centers is dominating the end-use sector in the global market by 2033.
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How Key Players are Upsurging the Global Market?
The number of key players worldwide highly fragments the market. These players are developing unique and innovative products to attract more consumers to satisfy their requirements. The key players invest huge amounts in research and development activities to analyze the market and generate new ideas to collect huge revenue.
Key players are adopting various marketing methodologies to drive the global market mergers, acquisitions, collaborations, agreements, and partnerships. These players are improving their product gaps by taking feedback from their relevant customers.
Recent Developments in the Global Market are:
- Sanofi announced its newly launched products Synvisc and Synvisc-One. These products are significantly used for knee osteoarthritis.
- Anika Therapeutics develops orthopedic products for its patients to relieve joint pain. The company offers CINGAL and MONOVISC to improve joint movement.
Other Essential Players in the Global Market are:
- Sanofi
- Anika Therapeutics Inc. (DePuy Synthes Inc.)
- Seikagaku Corporation
- Zimmer Biomet
- Institut Biochimique SA (Bioventus LLC)
- Fidia Farmaceutici S.p.A
- Meiji Seika Pharma Co. Ltd. (OrthogenRx)
- Ferring B.V.
- Viatrus Inc.
- Hanmi Pharm Co. Ltd. (Teva Pharmaceuticals Industries Ltd.)
- Chugai Pharmaceuticals Co. Ltd.
- Haohai Biological Technology
- Hunan Jingfeng Pharmaceutical Co. Ltd.
- SciViscion Biotech Inc. (MACO PHARMA S.A.S)
- BioPolymer GmbH & Co. KG
- TRB Chemedica International SA
- MDT Int’l S. A.
Knee Hyaluronic Acid Injections Market by Category:
By Product:
- Single Injection Knee Hyaluronic Acid Injections
- Three Injection Knee Hyaluronic Acid Injections
- Five Injection Knee Hyaluronic Acid Injections
- Next Generation (Steroid Combination)
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopaedics Clinics
- Retail Pharmacies
- Online Sales
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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