Russia Viscosupplementation Market to Represent a Value of US$ 34 Million by 2026
VALLEY COTTAGE, N.Y. – Russia’s healthcare infrastructure will continue witnessing significant rise in number of orthopaedic patients as several bone & joint-related disorders are likely to be caused by people’s eating & drink habits, their proactive lifestyles and the country’s harsh weather conditions. Rising occurrence of joint-related ailments such as knee osteoarthritis in Russia are a result of people performing physical labour in severely cold weather conditions. This has necessitated the adoption of viscosupplementation as an ideal medical procedure for injecting lubricating fluid in bone joints during surgeries. An in-depth analysis of Russia’s viscosupplementation market, conducted by Future Market Insights, projects that demand for three-injection viscosupplementation will gain traction over the next decade.
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According to Future Market Insights’ recent report, titled “Viscosupplementation Market: Russia Industry Analysis and Opportunity Assessment, 2016-2026,” nearly 70% of viscosupplementation revenues amassed across Russia in 2016 were accounted by three-injection viscosupplementation. The report estimates that the Russian viscosupplementation market incurred revenues worth over RUB 1.13 billion (US$ 19 million) in 2016. Registering a steady increment at 5.8% CAGR, Russia’s viscosupplementation revenues are expected to reach RUB 2.02 billion (US$ 34 million) by the end of 2026. With higher demand for three-injection viscosupplementation, Russia’s healthcare industry leaders will continue to extend production of three-injection viscosupplementation products as opposed to single injection and five-injection viscosupplementation products.
The report also establishes projections regarding the end-use of viscosupplementation in Russia. Hospitals across the country will account for just above RUB 1.24 billion (US$ 21 million) revenues by the end of projection period. Within this, the demand for viscosupplementation will remain considerably higher in hospitals with capacity of more than 500 beds. End-use of viscosupplementation in Russia’s ambulatory surgical centres (ASCs) will remain nascent, while revenues accounted by orthopaedic clinics are expected to surpass RUB 595 million (US$ 10 million) through 2026.
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Top Players in Russia’s Viscosupplementation Market
Top three established players in Russia’s Viscosupplementation market include Hyaltech, Croma-Pharma GmbH and TRB Chemedica. The market is fragmented with small players holding substantial market share. While Hyaltech, Croma-Pharma GmbH and TRB Chemedica collectively dominate with more than half of the country’s viscosupplementation revenues. International players such as Sanofi, Ferring Pharmaceuticals and Fidia Farmaceutici spa have low share as compared to the other players, Anika Therapeutics has recently launched their viscosupplementation product in Russia’s viscosupplementation market.
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