Viscosupplementation Market Size, Global Forecast 2023-2028
Renub Research has recently released a report named "Global Viscosupplementation Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" providing a detailed industry analysis that includes market share insights. In addition, the report covers research on competitors and regions and current advancements in the Viscosupplementation Market. The Viscosupplementation Industry shall expand at a CAGR of nearly 9.14% from 2022 to 2028. Viscosupplementation is a medical treatment that involves injecting hyaluronic acid, a substance habitually found in the synovial fluid that lubricates joints, into a joint affected by osteoarthritis to restore the joint's cushioning and lubricating properties, reducing pain and improving mobility. While viscosupplementation is commonly used for knee osteoarthritis, it applies to other joints, such as the hip or shoulder.
The Centres for Disease Control and Prevention (CDC) estimates that more than 32.5 million adults in the United States have osteoarthritis. Additionally, a report from EClinical Medicine indicates that over 22% of adults worldwide over 40 have knee osteoarthritis. According to the Osteoarthritis Action Alliance, women make up 62% of people with osteoarthritis.
Viscosupplementation has several advantages including reducing pain associated with osteoarthritis by restoring the joint's lubricating properties, which can decrease discomfort and irritation. It can also improve joint mobility and function, making daily activities easier. It is also a non-invasive treatment involving a simple injection, making it less invasive than surgical alternatives. In addition, viscosupplementation is generally well-tolerated, and the risk of severe side effects is relatively low, with common side effects including minor pain or swelling at the injection site. Lastly, the results of viscosupplementation can last for several months and may persist for up to a year or more in some patients.
Single injection holds the highest share in Global Viscosupplementation Market
Single-injection viscosupplementation is dominant due to several factors, including convenience and ease of use, as healthcare professionals can complete the procedure in less time than multiple injections, which is beneficial for both the patient and the healthcare provider. Single-injection viscosupplementation also has a lower risk of adverse events compared to various injections, and some formulations have longer-lasting effects, reducing the need for repeat injections. Additionally, it can be more cost-effective since fewer office visits and injections are required.
The most prevalent form of arthritis is knee osteoarthritis, which explains its domination in the global viscosupplementation market
Knee osteoarthritis is the most frequent type of osteoarthritis, and it affects a large number of people worldwide. As a result, it is the primary target of viscosupplementation treatment. Additionally, the knee joint is relatively easy to access, making it a more convenient site for injection. Moreover, the knee joint bears a significant amount of weight and is subject to repeated stresses and strains, which can exacerbate the damage to the cartilage and lead to osteoarthritis. Therefore, the knee joint is prone to degenerative changes that cause pain and stiffness, making it an ideal target for viscosupplementation treatment.
Orthopedic clinics/ambulatory surgical centers shall witness a significant rise in the global viscosupplementation market
Orthopedic clinics/ambulatory surgical centers are seeing growth in the global viscosupplementation market as these facilities specialize in treating musculoskeletal conditions, including osteoarthritis, and are well-equipped to offer viscosupplementation. Additionally, many have advanced imaging technologies, which can improve accuracy and effectiveness. Furthermore, with the increasing prevalence of osteoarthritis, there is a growing demand for viscosupplementation. Finally, the simple injection procedure can be performed in an outpatient setting, making it convenient for patients and healthcare providers.
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Asia-Pacific region shall observe high growth in the viscosupplementation market in the coming years
The rise of the viscosupplementation market in the Asia-Pacific region can be due to the increasing prevalence of musculoskeletal disorders, particularly osteoarthritis, among the aging population, leading to a rise in demand for non-surgical treatment options such as viscosupplementation. In addition, an upsurge in disposable income and increased spending on healthcare services in the region has contributed to the growth of the viscosupplementation market. Furthermore, increased skilled healthcare professionals and clinics offering viscosupplementation services have made the treatment more accessible, increasing adoption rates. Finally, the presence of key regional players has led to increased product availability and innovation, further driving the growth of viscosupplementation.
Competitive Landscape
The top companies in the viscosupplementation market include Anika Therapeutics Inc., Sanofi, Zimmer Biomet, Smith & Nephew PLC, Lifecore Biomedical, LG Life Sciences Ltd., F.Hoffmann-La Roche Ltd., and Chugai Pharmaceutical Co.
Market Summary
- Product - The Report covers Global Viscosupplementation Market, by product in 3 viewpoints (Single Injection Viscosupplementation, Three Injections Viscosupplementation and Five Injections Viscosupplementation).
- Application - By Application, the Global Viscosupplementation Market, breakup in 4 viewpoints (Knee Osteoarthritis, Hip Osteoarthritis, Hand/Wrist Osteoarthritis, Ankle/Foot Osteoarthritis and Others).
- End-User - Based on end-user Global Viscosupplementation Market breakup in 2 viewpoints (Hospitals, Orthopedic Clinics/Ambulatory Surgical Centres).
- Region - Renub Research report covers the Global Viscosupplementation market by region in 4 viewpoints (North America, Europe, Asia Pacific, and ROW).
- Key Players - All the major players in the Global Viscosupplementation Market have been covered from 4 Viewpoints (Overview, Strategy, and Financial Insight) Anika Therapeutics Inc., Sanofi, Zimmer Biomet, Smith & Nephew PLC, Lifecore Biomedical, LG Life Sciences Ltd., F.Hoffmann-La Roche Ltd., and Chugai Pharmaceutical Co.
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