Viscosupplementation Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The global viscosupplementation market is slated to observe tremendous revenue growth over the coming years due to the rapidly growing geriatric population across the world. Most of the elderly population suffers from arthritis, a condition where the patient develops swellings and tenderness in one or even more of their joints. Viscosupplementation is one of the treatment options which, while not a cure, can effectively enhance the lubricating properties of the fluid in the joints. The treatment thus helps the patients to ease their movements and relieve joint pain.
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The viscosupplementation also offers numerous benefits that are not just limited to relieving joint pain, they effectively make it more convenient and easier for patients to recline, sit, walk, and also reduce discomfort and swelling in the affected joints. This further improves the patient’s day-to-day lifestyle, which is the major factor why various arthritis patients are opting for this procedure, propelling the viscosupplementation market share.
With reference to the source of origin, the industry is bifurcated into the non-avian origin and avian origin segments. Of these, the non-avian origin segment accounted for a tremendous valuation of $2.1 billion back in 2019. The segment is further projected too foresee momentous growth trends by the end of the analysis period owing to the increasing consumer preference for non-avian origin viscosupplementation solutions. The patient exodus towards the non-avian segment over the avian origin segment is attributed to the fact that the avian solutions have been associated to several adverse effects in medical studies.
In terms of end-use, the market is bifurcated into ambulatory surgical centers, hospitals, and others. Of these, the ambulatory surgical centers segment held an overall valuation of $739.8 million back in 2019. The segment is likely to foresee a remunerative amount of growth over the coming years owing to the procedure’s non-invasive nature. These non-invasive surgical procedures can easily be performed by any trained professional without needing much assistance.
On the regional front, in 2019, the LATAM viscosupplementation industry was valued at $60.3 million. The regional market is estimated to witness growth at a rate of 10.8% across the forthcoming timespan. As per the United Nations, the population aging rate of Latin America has been among the fastest worldwide. This increasing number of the regional geriatric population would effectively fuel the regional arthritis cases and impel the regional market share.
Key industry players are increasingly implementing various business growth strategies such as new product launches, acquisitions & mergers, and partnerships to boost revenues. Citing an instance, in June 2019, Anika Therapeutics showcased its novel hyaluronic acid-based biodegradable scaffold, HYALOFAST. The new scaffold is a milestone that represents a remarkable advancement that supports cartilage regrowth through a convenient, minimally-invasive, one-step, procedure which can be tailored for each patient’s needs.
The competitive landscape of the global viscosupplementation market is inclusive of players such as SEIKAGAKU CORPORATION, Genzyme Corporation, OrthogenRX, Mylan Inc., Mediteck BeOnTop, LSP Bio Ltd, Johnson & Johnson Services, Inc., Fidia Farmaceutici S.p.A., Ferring B.V., Dr. Reddy’s Laboratories Ltd., Croma-Pharma GmbH, Chugai Pharmaceutical Co., Ltd, Bioventus, Aptissen, and Anika Therapeutics among others.
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Partial Chapter of the Table of Content
Chapter 4. Viscosupplementation Market, By Product
4.1. Key segment trends
4.2. Single Injection
4.2.1. Market size, by region, 2015 – 2026 (USD Million)
4.3. 3 Injections
4.3.1. Market size, by region, 2015 – 2026 (USD Million)
4.4. 5 Injections
4.4.1. Market size, by region, 2015 – 2026 (USD Million)
Chapter 5. Viscosupplementation Market, By Source of Origin
5.1. Key segment trends
5.2. Avian Origin
5.2.1. Market size, by region, 2015 – 2026 (USD Million)
5.3. Non-avian Origin
5.3.1. Market size, by region, 2015 – 2026 (USD Million)