As per recent market analysis, the global viscosupplementation market is projected to soar to US$ 2,167.3 million by 2024, with a robust compound annual growth rate (CAGR) of 5.7% expected to persist until 2034. By 2034, sales are anticipated to reach a remarkable valuation of US$ 3,777.4 million.
This surge in demand is primarily attributed to the rising prevalence of osteoarthritis (OA) and the subsequent need for effective treatment options. Viscosupplementation, a non-surgical therapy utilizing hyaluronic acid-based formulations, has emerged as a preferred choice for individuals seeking relief from OA and lifestyle-related illnesses.
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The market is expected to develop since the existing viscosupplements are clinically beneficial and the most effective alternative for treating osteoarthritis in the knee. Another aspect influencing the viscosupplementation market growth is the aging population.
Compared to other therapy forms, viscosupplementation treatments are anticipated to be relatively expensive. Economics has a detrimental role in the widespread adoption of viscosupplementation, particularly in areas where healthcare budgets are tight.
Strict regulatory standards and approval procedures will likely hinder growth in the viscosupplementation treatment market. Delays in viscosupplementation product launches and higher development costs are the consequences of regulatory hurdles.
Regional Outlook:
The Asia Pacific region controls the viscosupplementation market with a significant revenue share. The older population in this area is one of the primary factors propelling the viscosupplementation industry. They are more susceptible to osteoarthritis. Due to cultural norms, apprehension about surgery, and a wish to prevent complications following surgery, a large number of people in the Asia Pacific region favor non-surgical treatment methods.
Due to factors including the growing senior population, the rising prevalence of osteoarthritis and related ailments, the well-developed healthcare infrastructure, and the ever-increasing desire for non-surgical procedures, the North America viscosupplementation treatment market is expected to grow. The main catalyst of the viscosupplementation demand is the growing prevalence of osteoarthritis, arthritis, and knee pain.
“The increasing incidence of osteoarthritis is fueling the potential growth of the global viscosupplementation treatment market. A larger number of people are getting older, which increases the need for less invasive therapies. Advances in healthcare and patient preference for non-surgical treatments are expected to propel viscosupplementation market expansion.” Opines Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways:
- The three-injection viscosupplementation segment in the product category to grab a share of 48.4% from 2024 to 2034.
- In the end user category, the ambulatory surgical center’s segment is to acquire a market share of 31.9% between 2024 and 2034.
- The United States sales of viscosupplementation are anticipated to surge at a CAGR of 3.9% from 2024 to 2034.
- Germany’s viscosupplementation market is to develop at a CAGR of 4.0% through 2024.
- China’s sales of viscosupplementation are expected to surge at a CAGR of 9.0% from 2024 to 2034.
- Brazil’s viscosupplementation industry is anticipated to boost at a CAGR of 6.2% between 2024 and 2034.
- Japan’s viscosupplementation market is likely to exhibit a CAGR of 8.5% from 2024 to 2034.
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Competitive Landscape:
Prominent viscosupplementation producers are concentrating on creating cross-linked hyaluronic acid to relieve immediate pain. The viscosupplementation manufacturers are investing heavily to get a competitive edge over one another. New products are introduced, and the industry is expanding into new regions in the viscosupplementation treatment market.
Noteworthy Developments:
- An agreement to license TissueGene-C low dose (TG-C LD), a non-surgical experimental treatment given as a single intra-articular injection to treat knee osteoarthritis, was made in April 2022 between Juniper Biologics and Kolon Life Sciences.
- The joint function enhancement agent JOYCLU 30 mg intra-articular injection was introduced in May 2021 by Ono Pharmaceutical Co., Ltd. and Seikagaku Corporation. Seikagaku was granted manufacturing and marketing approval for the product in Japan in March 2021.
- The International Cartilage Regeneration and Joint Preservation Society (ICRS) hosted the official launch of Hyalofast, a hyaluronic acid-based scaffold for cartilage regeneration, by Anika Therapeutics, Inc.
Prominent Viscosupplementation Manufacturers:
- Sanofi S.A.
- Zimmer Biomet Holdings Inc.
- Bioventus LLC
- Anika Therapeutics Inc.
- Fidia Farmaceutici S.p.A.
- Ferring B.V.
- Seikagaku Corporation
- Chugai Pharmaceutical Co., Ltd.
- OrthogenRx Inc.
- Mylan N.V.
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Key Segments:
By Product:
- Single Injection Viscosupplementation
- Three Injection Viscosupplementation
- Five Injection Viscosupplementation
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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