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Viscosupplementation Market to register an appreciable growth rate through 2026

Author : Ronak Bora | Published Date : 2020-09-02 

Viscosupplementation Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Growing instances of osteoarthritis among geriatric population is anticipated to fuel new demand in global viscosupplementation market over the coming years. Osteoarthritis is known to affect patient’s joints, particularly the knees, hands, hips, and spine. Knee osteoarthritis has the highest prevalence and affects millions across the world.

According to a report published by the International Osteoarthritis Foundation, over 300 million people suffer from osteoarthritis worldwide. This consistently growing patient pool is anticipated to positively impel market size over the study period. Viscosupplementation is a minimally invasive medical process that prevents patients from undergoing knee replacement surgery. This is creating a massive demand for such procedure.

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The global viscosupplementation market is characterized into 3 injections, single injection, and 5 injections. Of these, the 3 injections segment is estimated to foresee immense growth through the forthcoming years owing to rising adoption and adequate availability of several products to treat osteoarthritis. In 2019, the segment individually held a record valuation of over $1.3 billion.

The 3 injection therapy is given in weekly intervals to patients and are proven to effectively decrease the amount of pain within weeks. Rising need for 3 injection therapy should impel segment size by 2026.

With respect to end-use, the hospitals segment represented an overall industry share of more than 59% in 2019. The immense segment share is attributed to the rising number of hospitals across the world. In addition, the increasing availability of effective viscosupplementation treatments for osteoarthritis patients in hospitals would further drive the segment size.

In fact, according to a recently published news article, in 2019, Germany had approximately 2000 hospitals. With growing focus on the development of the healthcare infrastructure, hospitals will effectively offer viscosupplementation treatments for osteoarthritis patients, thereby generating significant revenues.

On the regional front, the Spain viscosupplementation market is estimated to foresee significant revenue growth due to factors like increasing geriatric population and growing number of osteoarthritis cases in that demographic. In fact, as per recently published data, more than 7 million people are suffering from osteoarthritis in the country with many needing viscosupplementation treatments to alleviate the amount of pain in their joints.

In addition, several industry players are focusing on foraying across the European countries to capitalize on the region’s growing geriatric population needing the procedure, thereby providing a positive growth trajectory to the regional market.

Major market players are also increasingly adopting business growth strategies like acquisitions, partnerships, and new product launches bring in more revenues. Taking June 2019 for instance, Anika Therapeutics showcased Hyalofast, its new hyaluronic acid-based biodegradable scaffold that can help with cartilage repair in patients.

The competitive landscape of the global viscosupplementation market is inclusive of players such as Genzyme Corporation, Wellchem Pharmaceuticals, Zimmer Biomet, Mylan Inc., Johnson & Johnson Services, Chugai Pharmaceutical Co., Bioventus, Aptissen, and Anika Therapeutics among others. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/viscosupplementation-market

Partial Chapter of the Table of Content 

Chapter 4.    Viscosupplementation Market, By Product

4.1. Key segment trends

4.2. Single Injection

4.2.1.    Market size, by region, 2015 – 2026 (USD Million)

4.3. 3 Injections

4.3.1.    Market size, by region, 2015 – 2026 (USD Million)

4.4. 5 Injections

4.4.1.    Market size, by region, 2015 – 2026 (USD Million)

Chapter 5.    Viscosupplementation Market, By Source of Origin

5.1. Key segment trends

5.2. Avian Origin

5.2.1.    Market size, by region, 2015 – 2026 (USD Million)

5.3. Non-avian Origin

5.3.1.    Market size, by region, 2015 – 2026 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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