A recent report published by Infinium Global Research on viscosupplementation market provides in-depth analysis of segments and sub-segments in the global as well as regional viscosupplementation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional viscosupplementation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global viscosupplementation market. The global Viscosupplementation Market was valued at 3.7 USD billion in 2021 and is expected to reach USD 5.5 billion in 2027, with a CAGR of 6.76% during the forecast period.
Viscosupplementation is a procedure in which a thick fluid called hyaluronate is injected into the knee joint. There are no cures as such for osteoarthritis, so viscosupplementation will not cure osteoarthritis of the knee. Furthermore, it is thought that hyaluronate will improve the lubricating properties of the synovial fluid, reduce the pain from osteoarthritis of the knee, improve mobility, and provide a higher and more comfortable level of activity. Viscosupplementation is usually reserved until the other treatment options are been tried and have not relieved the pain. Three to five injections, each 1 week apart, are required. The most commonly reported side effects associated with the injections are temporary injection-site pain, swelling, heat, redness, rash, itching, bruising around the joint, and fluid accumulation in the injected knee. The outbreak of the coronavirus (COVID-19) pandemic created an unpredicted global health emergency throughout the globe. The majority of the developed, as well as developing nations, had imposed a complete lockdown in order to limit the negative impact of COVID-19 spread. Furthermore, the lockdown has led to a disruption in business and operational processes such as manufacturing and logistics as people were been restricted to move out of their houses which in turn led to a shortage of labor in manufacturing units. Many players during the pandemic started focusing on developing new products and promoting them through different platforms in order to grow in the market. The pandemic had disrupted various sectors in unpredictable ways. The Viscosupplementation Market was working at a higher pace before the pandemic occurred
The growing spending on the research and innovations of viscosupplementation may also be anticipated to drive the growth of the global viscosupplementation market during the forecast period. To strengthen their presence in the global market, many emerging and well-established companies operating in the viscosupplementation market are adopting multiple business strategies such as strategic collaborations and product development. The lack of product penetration in underdeveloped nations is also expected to hinder the growth of the global viscosupplementation market. The increasing importance of the use of viscosupplementation treatment over sports injuries is expected to provide lucrative opportunities for the global market throughout the forecasting period. Leading market players operating in viscosupplementation markets are concentrating highly on strategic steps such as product development, scientific advances, and capacity expansion of organizations to acquire a massive share in the global market
The Asia-Pacific market is anticipated to grow at a higher rate during the forecast period, due to increasing healthcare expenditure. Moreover, the low cost of manufacturing in China and India has resulted in the rise in the production facilities, attracting pharmaceutical and biotechnological giants to the Asia-Pacific region. The increase in the frequency of rheumatoid arthritis disease is also expected to drive the market growth in the region during the forecast period. Furthermore, North America is expected to grow at a faster rate due to the rise in the old age population leading to an increase in osteoarthritis patients due to the increasing demand for joint injectable products
The report on global viscosupplementation market covers segments such as product, and application. On the basis of product, the sub-markets include single injection, three injections, and five injections. On the basis of application, the sub-markets include knee osteoarthritis, hip osteoarthritis, and hand osteoarthritis.
The report provides profiles of the companies in the market such as Sanofi, Anika Therapeutics, Inc, Seikagaku Corporation, Zimmer Biomet, Smith & Nephew Plc, LG Life Sciences Ltd, Lifecore Biomedical, LLC, Ferring B.V.,, Chugai Pharmaceutical Co., Ltd, and Bioventus.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of viscosupplementation market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.