Global Viscosupplementation Market is expected to grow at a CAGR of 8.34% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Viscosupplementation Market by Product Type (Single Injection, Three Injections and Five Injections), Source (Avian and Non-Avian), Applications, End-users, Region and Global Forecast 2020-2027.
The global viscosupplementation market is expected to grow from USD 3.72 billion in 2019 to USD 7.06 billion by 2027, at a CAGR of 8.34% during the forecast period 2020-2027. North America is the dominant market. The region has huge geriatric population which suffers from osteoarthritis. Additionally, the growing lifestyle stress has increased the occurrence of osteoarthritis in the young population which is increasing the market demand. Also, the presence of advance healthcare infrastructure is leading the market growth. However, Asia-Pacific is expected to register highest growth rate during the forecast period. The growing demand for minimally invasive treatment is responsible for the growth of the market in the region. Moreover, the increasing awareness among consumers for single injection treatment is accelerating the demand for viscosupplementation.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the viscosupplementation market are Sanofi, Anika Therapeutics Inc., LG Life Sciences Limited, Lifecore Biomedical LLC, F. Hoffmann-La Roche AG, Zimmer Holdings Inc., Salix Pharmaceuticals Inc., Fidia Farmaceutici S.p.A, Teijin Pharma Limited, ALLERGAN, Bioventus, Ferring B.V., NORDIC DRUGS, Laboratoires Expanscience, SEIKAGAKU CORPORATION, Bausch Health, Galderma Laboratories, Merz Pharma, Alcon Vision LLC, Mylan N.V, Freda Biotechnology Co. Ltd., and others.
The product type segment includes single injection, three injections and five injections. The three injections accounts for major market shares owing to the wide usage as compared to the other alternatives. It is cheaper than the single injection and provides shorter treatment regimen than the five injections. The source segment includes avian and non-avian. Among the two, avian origin holds majority of the market shares of the base year. The avian origin provides relief from the discomforts due to the allergenic potential. It helps to reduce the joint pain and improves the lubrication. The applications segment includes hip osteoarthritis, knee osteoarthritis, shoulder osteoarthritis, hand osteoarthritis and others. Viscosupplementation is mostly used for the treatment of knee osteoarthritis. Knee osteoarthritis majorly seen in the geriatric population. However, in the recent years, due to the increasing lifestyle changes, knee osteoarthritis is also found in the working population. Moreover, it is commonly seen in the patient suffering from diabetes, obesity, hypertension, cardiovascular diseases and gastrointestinal bleeding. Thus, the viscosupplementation therapy is found to be the most effective in knee osteoarthritis which provides pain relief and enables mobility. The end-user segment includes hospitals and clinics and ambulatory surgical centres. The ambulatory surgical centres is the dominant segment in terms of market shares. The growing presence of the ambulatory surgical centres due to its wide reachability is driving the growth of the segment. It is more affordable as compared to the hospital services.
Viscosupplementation is a process done for treating the symptoms of hip osteoarthritis, knee osteoarthritis, shoulder osteoarthritis, etc. It injects hyaluronate acid in the joints for better mobility and pain reduction. The hyaluronate acid is distributed through the neural tissues and connecting tissues. The patients those are suffering from mild symptoms are mostly benefitted from viscosupplementation treatment. Viscosupplementation helps to reduce the pain, stiffness and swelling of the joints. The patients prefer to undergo a viscosupplementation therapy as it is minimally invasive and does not require intense surgical operations. Also, the viscosupplementation therapy is found to be the most effective technique for improvement of the osteoarthritis condition. The rising obese population is increasing the market demand. However, the stringent regulations laid by the government for approval of equipments and products are likely to restrict the market growth.
About the report:
The global 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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