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.
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.
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.
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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.
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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.
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.
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