Global Viscosupplementation Market by Product Type (Single Injection, Three Injection, Five Injection)
Industry: Healthcare
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP33245
Newly-released Viscosupplementation Market industry analysis report by Persistence Market Research shows that global sales of the Viscosupplementation Market in 2021 were held at US$ 4.4 Bn. With 10.8%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Single Injection are expected to be the highest revenue-generating type, accounting for an absolute dollar opportunity of nearly US$ 8.8 Bn during 2022 – 2032.
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Attribute |
Details |
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Global Viscosupplementation Market (2022) |
US$ 4.9 Bn |
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Global Viscosupplementation Market (2032) |
US$ 13.6 Bn |
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Global Viscosupplementation Market CAGR (2022 - 2032) |
10.8% |
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U.S. Viscosupplementation Market CAGR (2022 – 2032) |
11.3% |
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Key Companies Profiled |
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As per the Viscosupplementation Market industry research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Viscosupplementation Market industry increased at around 10.6% CAGR, wherein, countries such as the U.S., UK, China, South Korea, and Japan held a significant share in the global market. The market is projected to grow at a CAGR of 10.8% over the coming 10 years.
Some of the factors expected to drive the market include rising demand for non-surgical treatments for osteoarthritis, the predominance of lifestyle-related disorders, and advancements in the development of hyaluronic acid-based therapies.
Viscosupplements have demonstrated clinical efficacy and have been shown to be the most effective therapy for knee osteoarthritis. Osteoarthritis is the leading cause of chronic disability and is a prolonged painful degenerative joint disease. The condition usually appears after the age of 30, and it can progress to become a disorder after 10 years of diagnosis.
According to WHO forecasts, the global population of people aged 65 and more will increase from 7% in 2000 to 16% in 2050, resulting in an increase in obesity and osteoarthritis. As a result, the growing preference for alternate corticosteroid treatment alternatives for joint pain management, together with the global expansion in the target population is predicted to significantly boost the market during the projection period.
Orthovisc, Supartz Hyalgan, and Synvisc have been approved by the FDA as Class III medical devices for the treatment of OA knee pain in the United States, and are covered by Medicaid, Medicare, and other state-funded healthcare programs. France likewise has a well-defined reimbursement strategy for viscosupplements. In France, Social Security reimburses up to 65% of 12 of the 13 product lines offered for the treatment of knee osteoarthritis. As a result, favorable reimbursement rules for the elderly are projected to offer possibilities for the key players to expand.
In April 2018, Bone Therapeutics S.A. concluded clinical studies for its JTA-004 intra-articular injection for knee OA. Furthermore, new products with better effects are being introduced to the market. In June 2019, Anika Therapeutics, Inc. introduced Hyalofast, a hyaluronic acid-based cartilage repair scaffold, at the International Cartilage Regeneration and Joint Preservation Society (ICRS).
Which Region is projected to Offer the Largest Opportunity for Viscosupplementation Market?
The market in Asia Pacific is expected to register the highest CAGR during the forecast period due to increased demand for Viscosupplementation in developing countries, especially India and China. Due to the surge in the aging population, which is more susceptible to disorders such as osteoarthritis, Asia Pacific generated the highest revenue share of more than 45% in 2020.
U.S. Viscosupplementation Market Analysis
The market in the U.S. is projected to reach a valuation of US$ 4.3 Bn by 2032. An increasing desire for brief treatment regimens, despite their high cost, and a growth in the prevalence of diseases such as osteoarthritis are driving the market in the United States. The market in the country is projected to register an absolute dollar opportunity of US$ 2.8 Bn during 2022 – 2032 at a CAGR of 11.3%.
U.K. Viscosupplementation Market Analysis
The market in the U.K. is expected to reach US$ 317 Mn by 2032, at a CAGR of 12.3% during 2022 – 2032. The market during the forecast period is expected to gross an absolute dollar opportunity of US$ 217 Mn.
Japan Viscosupplementation Market Analysis
In Japan, the market is projected to reach US$ 1.3 Bn by 2032. With a CAGR of 14.1% during 2022 – 2032, the market is likely to witness an absolute dollar opportunity of US$ 914 Mn.
South Korea Viscosupplementation Market Analysis
The market in South Korea is expected to witness a market size of US$ 471 Mn by 2032, growing at a CAGR of 9.8% during 2022 – 2032. The market is expected to gross an absolute dollar opportunity of US$ 288 Mn during the forecast period.
Why Single Injection Leads the Viscosupplementation Market?
Single-injection remedies account for around 55% of the viscosupplementation sales. Smaller hyaluronic acid viscosupplements with injections of three and five have been available for a long time, while single-injection applications can be more recent. Three injections have been discovered to be an effective treatment over the past several decades and have gained a substantial share of the medicines market. With osteoarthritis, medical practitioners generally recommend three injections to keep the pain from undergoing a total knee joint replacement.
Due to an increasing number of FDA approvals for three-injection viscosupplements, the segment is anticipated to grow. For example, OrthogenRx introduced TriVisc in January 2018 for use in the U.S. Due to a shorter schedule, fewer hospital visits, and fewer negative effects and associated pain, the need for single-injection brands is anticipated to increase during the forecast time period. MONOVISC, developed by Anika Therapeutics is the first single-injection hyaluronic acid derived from non-animal sources to be approved by the FDA in early 2014.
Why do Orthopedic Clinics/Ambulatory Surgical Centers (ASCs) dominate the Viscosupplementation Market?
The orthopedic clinics/ASCs category accounted for the largest revenue share of more than 60% in 2021 due to the high demand for outpatient procedures. Outpatient surgery centers, or ASCs, specialize in same-day surgery, including preventive and diagnostic procedures.
ACL surgery, hip, knee, and shoulder replacements, among other procedures, can be performed in an ASC on the same day. These procedures are simpler and require almost no hospitalization. In addition, orthopedic clinics are devoted to the care of the musculoskeletal system. This includes the surgical and non-surgical treatment of joint, bone, ligament, muscle, spine, and nerve problems. One of the key factors that is expected to contribute to the growth of this segment is the rising incidence of osteoarthritis among the geriatric population.
In hospitals, viscosupplementation is performed as an outpatient procedure, and the patient is relieved in a few hours of the process. Viscosupplementation procedures are typically performed in a hospital on the recommendation of a general practitioner or orthopaedist at the same facility. Patients prefer hospitals in developing nations where orthopedic clinics are scarce. Patients are asked to visit the hospital on a specific day in these countries, where an orthopedic physician is generally a visiting faculty member. Furthermore, because it requires no additional investment, the majority of multispecialty hospitals around the world offer viscosupplementation procedures.
How Viscosupplementation Market dealt with Covid-19?
The market was harmed because the majority of viscosupplementation product consumers are elderly people, a demographic that has been urged to stay at home to reduce the risk of contamination. In COVID-19 restrictions, surgery amounts are expected to return quickly. For example, by the end of June 2020, surgery volumes in the United States, China, Germany, and Australia had begun to recover.
The widespread cancellation of elective surgical procedures in hospitals reduced sales of viscosupplementation products, resulting in significant losses for manufacturers. For example, Anika Therapeutics' overall revenue fell by 13% in the second quarter of 2020. As the number of osteoarthritis surgeries increases, so will the demand for viscosupplementation.
Some of the key players in the viscosupplementation market include Sanofi, Anika Therapeutics, Inc., Seikagaku Corp., Zimmer Biomet, Smith & Nephew PLC, Ferring Pharmaceuticals B.V., Lifecore Biomedical, LG Life Sciences Ltd., Fidia Farmaceutici S.p.A., and F.Hoffmann-La Roche Ltd.
Some of the recent developments in the market are as follows:
Similarly, recent developments related to companies offering Viscosupplementation have been tracked by the team at Persistence Market Research, which is available in the full report.
By Product Type
By End User
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The global market is worth more than US$ 4.4 Bn at present.
The market value of Viscosupplementation is projected to increase at a CAGR of around 10.8% during 2022 – 2032.
The market value of Viscosupplementation increased at a CAGR of around 10.6% during 2017 – 2021.
Top five players in the market include Sanofi, Anika Therapeutics Inc., Seikagaku Corporation, Zimmer Biomet, and Smith & Nephew Plc.
The top 5 countries driving demand for Viscosupplementation are U.S., U.K., China, Japan, and South Korea.
North America accounted for over 30% of global Viscosupplementation Market demand in 2021.
The European market for Viscosupplementation is projected to expand at a CAGR of around 11% during 2022 – 2032.
