The knee hyaluronic acid injections market is on an upward trajectory, with revenue reaching USD 2.09 billion in 2023. According to the latest insights from a Future Market Insights survey, the market is expected to grow at a compound annual growth rate (CAGR) of 5%, reaching an impressive USD 3.40 billion by 2033.
Knee hyaluronic acid injections have gained significant popularity as an effective non-surgical treatment for osteoarthritis and joint pain relief. The growing prevalence of knee osteoarthritis, coupled with increasing awareness and demand for minimally invasive treatments, is driving the market’s growth.
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The rise in accessible yet affordable substitutes for high-quality knee osteoarthritis surgery is driving the current sales figures. New product launches and market expansion are significant additional elements propelling the industry’s growth. Positive trends include the rapid commercialization of superior and incredibly effective knee hyaluronic acid injections for osteoarthritis, as well as the move toward single injection preference over repeated injection regimens.
Key Takeaways
- Surging health-related issues associated with aging and obesity including joint injury and knee osteoarthritis have been vital concerns. Being a degenerative musculoskeletal disorder, knee osteoarthritis can bring immense pain to patients as they grow old and can result in causing further disability if left untreated. Thus, the need for increased medical care and improved healthcare services has also grown.
- According to the study conducted by NCBI, obesity is considered one of the major risk factors for osteoarthritis. It also revealed a prevalence of 22.9% of osteoarthritis in obesity surgery patients. Around 39.5 million U.S. adults were affected by osteoarthritis in 2019, as per Centers for Disease Control and Prevention (CDC) statistics.
- An alternative to knee arthroplasty surgery, the prevalence of knee hyaluronic acid injections market is playing a huge role because the surgery is both expensive and has certain post-operation complications. The rapid development and commercialization of knee hyaluronic acid injections owing to the factors like superior efficacy, lesser side effects, and minimum patient discomfort give a great opportunity for this market, as the increasing number of osteoarthritic-affected patients will be seeking a safe procedure that is affordable yet effective.
- Since there is a significant surge in the number of osteoarthritic patients globally, so is the demand for solutions that can relieve the patients of the pain caused by the disease. Knee hyaluronic acid injection, also called Viscosupplementation, is proving to be a successful procedure that helps in improving the lubrication in synovial fluid. Thereby relieving pain and providing a comfortable level of activity due to improved mobility.
- FDA approvals for Knee hyaluronic acid injections and ongoing trials for new novel products in this segment are anticipated to offer great opportunities for the market players in the near future. In addition to that, the key players in the market are actively participating in acquisitions, new product developments, and exclusive marketing agreements to expand their market presence.
Knee Hyaluronic Acid Injections Market: Historical Sales (2018 to 2022) and Future Outlook (2023 to 2033)
According to data from Future Market Insights (FMI), the global knee hyaluronic acid injections market exhibited steady growth at a compound annual growth rate (CAGR) of 5% between 2018 and 2022. The market witnessed incremental progress during this period, with a valuation of US$ 1.64 billion in 2018, rising to US$ 1.99 billion in 2022.
The positive trajectory of the knee hyaluronic acid injection market is expected to persist, driven by several factors. There is a growing preference for self-care and at-home healthcare practices, particularly among the aging population, which contributes to increased demand for these injections.
Furthermore, the availability of cost-effective alternatives to knee osteoarthritis surgery is fueling current sales figures. Market growth is further propelled by expansions and product launches in emerging markets, expanding access to these treatments.
A notable trend is the commercialization of highly effective knee hyaluronic acid injections tailored for knee osteoarthritis treatment. Additionally, there is a shift towards single-injection-based treatments over repeated injection regimes, reflecting a positive consumer preference pattern.
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Competitive Landscape
Prominent manufacturers of the knee hyaluronic acid injections market are primarily aiming to carry out strategic expansions through mergers and acquisitions along with an exclusive distribution to consolidate growth in a competitive market.
Key Companies Profiled:
- 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.
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Knee Hyaluronic Acid Injections Market by Category
Product:
- Single Injection Knee Hyaluronic Acid Injections
- Three Injection Knee Hyaluronic Acid Injections
- Five Injection Knee Hyaluronic Acid Injections
- Next Generation (Steroid Combination)
End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopaedics Clinics
- Retail Pharmacies
- Online Sales
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.
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