According to the report, the
global viscosupplementation
market was valued at ~US$ 2.6 Bn in 2018 and
is projected to expand at a CAGR of ~7% from 2019 to 2027. Viscosupplementation
can be performed using three primary injection types: single injection, three
injections, and five injections. Applications of viscosupplementation injection
include knee osteoarthritis, hip osteoarthritis, and hand osteoarthritis.
Growth of the global viscosupplementation market can be attributed to rise in
prevalence of osteoarthritis among the geriatric population across the globe.
North America dominated the global viscosupplementation market in 2018 and
the trend is anticipated to continue during the forecast period. Increase in
awareness about new drugs for treatment and presence of major companies in the
region are expected to drive the market in North America. Asia Pacific is
likely to be a highly lucrative market for viscosupplementation during the
forecast period.
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Rise in Prevalence
of Osteoarthritis among Geriatric Population and Surge in Demand for Minimally
Invasive Surgery to Drive Market
Rise in prevalence of osteoarthritis
across the world is a major factor boosting the growth of the global
viscosupplementation market. Increase in geriatric population and high
prevalence of obesity are projected to contribute to the rise in prevalence of
OA, placing a major burden on individuals, health systems, and social care
systems across the world. According to the Arthritis Foundation, 130
million individuals across the globe are likely to be affected by
osteoarthritis by 2050. Minimally invasive surgeries minimize blood
loss, reduce hospital stay, offer quicker rehabilitation, and smaller incision.
Viscosupplement therapy exhibits nearly 86% success rate in
alleviating pain associated with osteoarthritis.
Three Injections to
Dominate Market
Based on product type, the global
viscosupplementation market has been divided into single injection, three
injections, and five injections. The three injections segment dominated the
global viscosupplementation market in 2018 and the trend is
likely to continue during the forecast period, owing to demand for three injections
for better pain relief.
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Knee Osteoarthritis
to be Promising Segment
In terms of type, the global
viscosupplementation market has been classified into knee osteoarthritis, hip
osteoarthritis, hand osteoarthritis. The knee osteoarthritis segment dominated
the global viscosupplementation market in 2018. The growth of
the knee osteoarthritis segment can be attributed to rise in the number of knee
OA cases and increase in development of new drugs for pain management.
Non-animal Segment
to Grow at Rapid CAGR
In terms of source, the global
viscosupplementation market has been bifurcated into animal and non-animal. The
animal segment dominated the global viscosupplementation market in 2018.
However, the non-animal segment is expected to expand at the fastest CAGR
during the forecast period.
Retail Pharmacies
to be Major Distribution Channel
Based on distribution channel, the
global viscosupplementation market has been categorized into retail pharmacies,
hospital pharmacies, and online pharmacies. The retail pharmacies segment
dominated the global viscosupplementation market in terms of revenue in 2018 and
the trend is projected to continue during the forecast period. Increase in
number of viscosupplement injections being dispensed through retail pharmacies
and rise in number of retail pharmacies in developing countries make these
pharmacies a major channel of distribution.
North America to
Dominate Global Market
The global viscosupplementation
market has been segmented into five major regions: North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa. North America dominated
the global viscosupplementation market in 2018, followed by Europe.
North America accounted for a major share of the global viscosupplementation
market in 2018, owing to the introduction of new drugs, surge in
demand for minimally invasive surgery, and high prevalence of osteoarthritis in
countries such as the U.S. The viscosupplementation market in Asia Pacific is
anticipated to expand at a higher CAGR from 2019 to 2027.
The growth of the viscosupplementation market in the region can be attributed
to high prevalence of osteoarthritis and increase in demand for its therapeutics.
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Competition
Landscape
Sanofi, Anika
Therapeutics, Inc., Zimmer Biomet, and Chugai Pharmaceutical Co., Ltd. are the leading
players in the global viscosupplementation market and hold majority market
share. The global viscosupplementation market is fragmented in terms of number
of players. Key players in the global market include Sanofi, Anika
Therapeutics, Inc., Seikagaku Corporation, Zimmer Biomet, Ferring B.V., LG
Chem, Chugai Pharmaceutical Co., Ltd., and Bioventus, Inc.New product
development through robust R&D activities and merger & acquisitions are
the key strategies adopted by these players to operate their business in the
global viscosupplementation market.
Global
Viscosupplementation Market: Segmentation
·
Viscosupplementation Market, by Product Type
o Single Injection
o Three Injections
o Five Injections
·
Viscosupplementation Market, by
Application
o Knee Osteoarthritis
o Hip Osteoarthritis
o Hand Osteoarthritis
·
Viscosupplementation Market, by Source
o Animal
o Non-animal
·
Viscosupplementation Market, by Distribution
Channel
o Retail Pharmacies
o Hospital Pharmacies
o Online Pharmacies
·
Viscosupplementation Market, by Region
o North America
§ U.S.
§ Canada
o Europe
§ Germany
§ U.K.
§ France
§ Italy
§ Spain
§ Rest of Europe
o Asia Pacific
§ China
§ India
§ Japan
§ Australia & New
Zealand
§ Rest of Asia
Pacific
o Latin America
§ Brazil
§ Mexico
§ Rest of Latin
America
o Middle East &
Africa
§ GCC Countries
§ South Africa
§ Israel
§ Rest of Middle East
& Africa
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