Viscosupplementation Market – Increasing Geriatric Populations are Primarily Fueling the Market Growth with Stunning CAGR of 8.98% During 2021-2028
Viscosupplements, also known as viscoelastic supplements are a new class of drugs that are comprised entirely of viscoelastic glycosaminoglycan, which are the building blocks of joint tissue. Many degenerative joint diseases are caused by the deterioration of cartilage and synovial fluid, which contribute to the symptoms of arthritis, and are often handled by Viscosupplements. Knee osteoarthritis, a very common disease seen in older people is being handled by Viscosupplements and many other products.
The rising cases of osteoarthritis coupled with the increasing geriatric populations are primarily fueling the market growth of the viscosupplements. According to the World Health Organization, around 9.6% of men and 18.0% of women over the age of 60 years have symptomatic osteoarthritis. Moreover, advancement in the hyaluronic acid-based therapies is again expected to foster the market growth of the viscosupplements. For instance, in March 2019, Seikagaku Corporation announced the launch of HyLink®, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis in Italy. Moreover, the growing prevalence of osteoarthritis in middle-aged populations due to an unhealthy lifestyle is further expected to propel the market growth of viscosupplements.
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From the geographical perspective, the Asia Pacific is expected to gain significant growth over the forecast period and this is attributed to the increasing geriatric population which is increasing the prevalence of osteoarthritis. According to the United Nations, by 2050, one in four people in Asia and the Pacific will be over 60 years old and will reach close to 1.3 billion people.
Major Players Covered in Viscosupplementation Market Report are;
- Anika Therapeutics
- Zimmer Biomet
- Fidia Pharmaceutical
- In October 2018, Bone Therapeutics the bone cell therapy company addressing high unmet medical needs in orthopedics and bone diseases announced the results of the first efficacy study of the Company’s enhanced viscosupplement, JTA-004, in patients with moderate symptomatic knee osteoarthritis. This will support the future clinical development of the product.
- In November 2019, Anika Therapeutics, Inc. integrated joint preservation and regenerative therapies showcased its innovative portfolio of osteoarthritis pain management and joint preservation and restoration therapies in two international conferences – the MEDICA 2019 International Trade Fair.
- In August 2019, Bioventus, a global provider of orthobiologic solutions, has launched DUROLANE SJ (1mL) and has received expanded indications for DUROLANE (3mL), its single-injection joint-fluid osteoarthritis (OA) treatment, in Australia and New Zealand.
COVID-19 Impact Analysis:
The COVID-19 has affected 215 countries and the Viscosupplementation market share as well. To combat the negative effects, countries lead lockdowns that have significantly impacted the Viscosupplementation market. The pandemic leads to several challenges to the sector; it is affected all over the world. COVID-19 has impacted production, supply chain, distribution, workforce, and R&D.
Viscosupplementation Market Segmentation:
By Product Type, the market is primarily segmented into:
- Single Injection
- Three Injection
- Five Injection
By Applications, the market is segmented into:
- Ambulatory Surgical Centres
- Orthopaedic Clinics
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The report covers the following Regions:
- North America
- United States
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- GCC Countries
- South Africa
Objective of the Viscosupplementation Market Report:
- To assess the size of the market by value and volume
- Analyze the Viscosupplementation Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Viscosupplementation Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state–of–the–art tools and the current primary and secondary research approaches
- Discuss major factors that impact the growth of the Viscosupplementation Market
Reasons to Purchase this Report:
- The trendy developments, market shares, and strategies that are employed by means of the essential market players
- The segment that is anticipated to dominate the market as properly as the segment which holds the highest CAGR in the forecast period
- Current and future of global Viscosupplementation market outlook in the developed and rising markets
- Regions/countries that are anticipated to witness the quickest growth rates at some stage in the forecast period
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