viscosupplementation market is experiencing significant growth, driven by the rising prevalence of osteoarthritis

VANCOUVER, BRITISH COLUMBIA, CANADA, July 8, 2024 /EINPresswire.com/ -- The global viscosupplementation market is experiencing significant growth, driven by the rising prevalence of osteoarthritis, a growing geriatric population, and increasing demand for minimally invasive treatment options. According to a report by Emergen Research, the market size was valued at $4.41 billion in 2022 and is estimated to reach $10.51 billion by 2032, reflecting a compound annual growth rate (CAGR) of 9.1% from 2022 to 2032.

Market Overview

Viscosupplementation is a non-surgical procedure that involves injecting hyaluronic acid (HA) into a patient's arthritic joint, most commonly the knee. HA is a naturally occurring lubricant found in synovial fluid, which cushions and protects joints. Injections aim to replenish depleted HA, improving lubrication, reducing pain, and enhancing joint function.

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Key Trends and Drivers

Rising Prevalence of Osteoarthritis: Osteoarthritis, a degenerative joint disease, is the leading cause of joint pain and disability globally. The increasing geriatric population is a major factor contributing to the rise in osteoarthritis cases. According to the Centers for Disease Control and Prevention (CDC), nearly half (49.6%) of adults aged 65 and older are diagnosed with arthritis.
Growing Demand for Minimally Invasive Treatments: Patients are increasingly opting for minimally invasive procedures like viscosupplementation due to quicker recovery times and fewer side effects compared to traditional joint replacement surgeries.
Technological Advancements: Advances in HA-based products with improved viscoelastic properties and sustained release mechanisms are propelling market growth.

Restraints and Challenges

High Treatment Costs: The cost of viscosupplementation can be a barrier for some patients, especially without adequate insurance coverage.
Reimbursement Policies: Reimbursement policies for viscosupplementation procedures vary across regions, impacting patient access.
Limited Clinical Evidence: While research supports the effectiveness of viscosupplementation, some healthcare providers may require stronger long-term clinical data.

Growth Opportunities

Emerging Economies: Rising disposable income and increasing healthcare awareness in emerging economies present significant growth opportunities for the viscosupplementation market.

Increased Product Launches: Leading players are actively developing and launching new viscosupplementation products with longer-lasting effects and improved delivery methods.

Strategic Collaborations and Acquisitions: Collaboration among key players in the healthcare industry for research, development, and distribution can further accelerate market expansion.

SWOT Analysis

Strengths:

Minimally invasive procedure with a proven safety profile
Effective treatment for pain management and improving joint function
Growing demand for non-surgical treatment options
Weaknesses:

High cost of treatment
Limited long-term clinical data compared to some traditional treatments
Reimbursement challenges
Opportunities:

Rising prevalence of osteoarthritis in a growing geriatric population
Untapped market potential in emerging economies
Technological advancements in HA-based products
Threats:

Stringent regulatory requirements for new product approvals
Increasing competition from alternative therapies
Potential for misuse or overuse of viscosupplementation procedures

Latest Strategic Developments and M&A Activity

On 17 September 2023, KiOmed Pharma and Arsylab, a French biotechnology company specializing in the design and marketing of innovative products to improve patients’ quality of life, announced the strategic collaboration to enter the French market for promotion and distribution of KioMedineone, a new class of knee osteoarthritis treatment.

On 19 September 2022, Alkem Laboratories announced the regulatory approval of federal agency the Drug Controller General of India (DCGI) for the launch of StemOne, designated for treatment of Knee Osteoarthritis (OA) in collaboration with Stempeutics in India.
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Viscosupplementation Top Companies and Competitive Landscape

The global viscosupplementation market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective viscosupplementation solutions in the market.

Some major players included in the global viscosupplementation market report are:
Sanofi
Hoffmann-La Roche Ltd.
Anika Therapeutics, Inc.
Zimmer Biomet.
Bioventus
Fidia Farmaceutici S.p.A.
SEIKAGAKU CORPORATION
Chugai Pharmaceutical Co., Ltd.
OrthogenRx, Inc.
Miravo Healthcare
APTISSEN
LG Chem
AVNS
Smith+Nephew
Lifecore Biomedical, Inc.
Medical Device Business Services, Inc.
Wellchem Pharmaceuticals Pte Ltd.
Teva Pharmaceutical Industries Ltd.
Labrha International
Ferring B.V.

Viscosupplementation Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global viscosupplementation market on the basis of dosage type, application, source, end-use, and region:

Dosage Type Outlook (Revenue, USD Billion; 2019-2032)
Single Injection
Three Injection
Five Injection

Application Outlook (Revenue, USD Billion; 2019-2032)
Knee Osteoarthritis
Hip Osteoarthritis
Hand/ Wrist Osteoarthritis
Ankle/ Foot Osteoarthritis
Shoulder Osteoarthritis
Others

Source Outlook (Revenue, USD Billion; 2019-2032)
Animal
Non-animal

End-use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Orthopedic Clinics
Ambulatory Surgical Centers (ASCs)
Others

Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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