A recent report published by
Infinium Global Research on the viscosupplementation market provides an 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 the long term. The
report is a comprehensive presentation of trends, forecast and dollar values of the global viscosupplementation market. According to the report, the global
viscosupplementation market is projected to grow at a CAGR of nearly 7% over the forecast
period of 2022-2028.
The revenue of the viscosupplementation market in 2022 was over USD 3 billion which is expected to reach about USD 5 billion by 2028 growing with a CAGR of nearly 7%. 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 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 its 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 outbreak of 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 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 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 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 the global
viscosupplementation market covers segments such as product, application, and
end-use. 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. On
the basis of end-use, the sub-markets include hospitals, orthopedic
clinics/ASCs, and others.
The report provides profiles of
the companies in the market such as Sanofi S.A., 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 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 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 the viscosupplementation market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. 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 insight into the market share of the leading players.