The global viscosupplementation market is on an impressive growth trajectory, with projections estimating a market size of USD 2,167.3 million by 2024. This upward trend is expected to continue, with the market anticipated to reach USD 3,777.4 million by 2034, reflecting a robust compound annual growth rate (CAGR) of 5.7%.
Viscosupplementation, a non-surgical therapy that utilizes hyaluronic acid-based formulations, is rapidly gaining popularity among individuals seeking effective relief from osteoarthritis (OA) and various lifestyle-related conditions. The rising prevalence of OA, combined with an increasing demand for effective and non-invasive treatment options, is driving significant market growth.
Key factors contributing to this upward trend include:
- Rising Osteoarthritis Prevalence: With an aging global population, the incidence of osteoarthritis is climbing, leading to heightened demand for viscosupplementation treatments.
- Preference for Non-Surgical Treatments: Viscosupplementation presents a non-invasive alternative to surgical interventions, aligning with the growing preference among patients for less invasive therapies that minimize recovery time and risk.
- Clinical Benefits of Viscosupplements: Current viscosupplement products have shown substantial clinical benefits, particularly in treating knee osteoarthritis, which enhances their attractiveness to both healthcare providers and patients.
As the market evolves, the focus on research and development of new formulations and delivery methods continues to drive innovation within the viscosupplementation space, ensuring that patients have access to the most effective treatment options available.
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.
Viscosupplementation Trends on the Rise: Uncover the Full Scope with Our In-Depth Report!
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).
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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube