In 2022, the Europe viscosupplementation market was worth US$ 4.49 billion. The market will probably be valued at US$ 4.91 billion by the end of 2023. By 2033, the demand for viscosupplementation in Europe is projected to grow at a CAGR of 9.37% and reach a value of US$ 12.03 billion.
Over the projection period, rising osteoarthritis rates are anticipated to fuel market expansion for viscosupplementation in Europe. For instance, a publication in the National Library of Medicine Journal in September 2022 said that the age-standardized point prevalence as well as annual incidences of rheumatoid arthritis were 446.6 and 24.9 in 2021, respectively, up 12.4% and 9.9% from 2001.
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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.
Key Takeaways from the Market Study:
- 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% over the course of 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 kinds of wellness programs to boost the Europe viscosupplementation market growth,” remarks an FMI analyst.
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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 companies profiled:
- Anika Therapeutics Inc.
- Sanofi S.A.
- Zimmer Biomet Holdings
- Meda AB
- Ferring B.V
- Fidia Pharmaceutici S.p.A
- Bioventus LLC
- Teva Pharmaceutical Industries Ltd.
- VIRCHOW BIOTECH
- Lifecore Biomedical
Segmentation Analysis of the Europe Viscosupplementation Market:
By Product:
- Single Injection
- Three Injection
- Five Injection
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
By Region:
- Western Europe
- Eastern Europe
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