Global Orthopedic Hyaluronic Acid Viscosupplementation Market is expected to grow at a CAGR of 8.14% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Orthopedic Hyaluronic Acid Viscosupplementation Market by Type (Single Injection, Three Injection, Five Injection), Application (Hospitals, Ambulatory Surgical Centres, Orthopaedic Clinics), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The Global Orthopedic Hyaluronic Acid Viscosupplementation Market is expected to grow from USD 3.93 Billion in 2019 to USD 7.35 Billion by 2027, at a CAGR of 8.14% during the forecast period 2020-2027.
Viscosupplementation is a slightly invasive procedure that includes injection of gel-like substances into a joint to support the viscous properties of synovial fluid. As present hyaluronate injections are only permitted viscosupplementation treatment of osteoarthritis of the knee. Hyaluronic acid (HA) or hyaluronate is a non-sulfated glycosaminoglycan which is dispersed throughout the body in epithelial, connective tissues, and neural tissues. Hyaluronic acid is seen to be an integral constituent of the extracellular matrix as it contributes considerably to migration and cell proliferation.
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Mounting ageing population are extremely affected by wide range of chronic diseases such as osteoarthritis, kidney, cancer and many more diseases. Thus surging ageing population is the key driver of the global visco supplementation market growth. Also, one of the main drivers of the global viscosupplementation market is the economical cost of the Viscosupplementation process as matched to the knee replacement surgeries. Growing obesity across the globe is also a key reason for the development of viscosupplementation market as obese patients are also likely to undergo joint problems due to overweight. The major restraining factors of the global viscosupplementation market are the lack of care and efficacy associated with viscosupplementation procedure products. Also, the lack of eagerness of the surgeons connected to viscosupplementation process and the reimbursement challenges also hinder the growth of the global viscosupplementation market.
The market has been segmented on the basic of product type, application and region. Type segment Single Injection, Three Injection and Five Injection. The three injection segment held largest market share of 48.18% and valued at USD 1.89 Billion in 2019. Growing ageing population are highly affected by wide range of chronic diseases such as osteoarthritis, cancer, kidney and many more diseases. Thus increasing ageing population is the key driver of the global visco supplementation market growth. Application segment includes Hospitals, Ambulatory Surgical Centres and Orthopaedic Clinics. Hospitals held the largest market share of 43.50% and valued at USD 1.71 Billion in 2019 due to increasing use of electronic appliances. Aggressive marketing technique adopted by the suppliers, the growing trend and booming demand for the non-surgical treatment. Also, one of the strong drivers of the global viscosupplementation market is the cost effectiveness of the Viscosupplementation process as compared to the knee replacement surgeries. The market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America held the largest market share of 38.49% and valued at USD 1.51 Billion in 2019.
The market for global orthopedic hyaluronic acid viscosupplementation market is segmented into key players. Major Player includes Fidia Pharmaceutical, Anika Therapeutics, Sanofi, Zimmer Biomet, Bioventus and Ferring, and among others. Fidia Pharmaceutici held the largest market share of 21.13% in 2019.
About the report:
The global Orthopedic Hyaluronic Acid Viscosupplementation market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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