Viscosupplementation Market is predicted to reach US$ 2.89 Billion by 2030 | FMI Analyst

 The Viscosupplementation Market is expected to reach US$ 1.98 Billion in 2022. According to thorough market research, the worldwide viscosupplementation market is expected to grow at a CAGR of 4.8% from current levels to reach a market value of US$ 2.89 Billion by 2030.

To learn more about this report @ https://www.futuremarketinsights.com/reports/viscosupplementation-market

Rising incidence of osteoarthritis is pinpointed as the primary determinant for the expansion of the viscosupplementation market. According to the National Center for Biotechnology Information, osteoarthritis affects nearly 30% of the total population in the United States alone, while 10 to 15% of the global population suffers from the disease. Eight out of ten people experience severe restrictions in mobility due to the extreme pain they experience while a quarter of them find it difficult to perform daily chores.

In the light of such alarming increase in the number of cases, the demand for non-surgical methods to treat the ailment is providing traction to viscosupplementation procedures. The market growth is also being driven by enhancements in clinical efficacies of hyaluronic acid-based therapies, as majority of the patients suffer from knee osteoarthritis. These injections provide considerable relief from the pain by reducing joint inflammation.

Market players are increasingly advancing their R&D development capabilities to develop an additional pipeline of anti-osteoarthritis drugs imbued with hyaluronic acid for expanding their foothold. However, the coronavirus outbreak has impeded short-term growth prospects as patients are delaying treatments in favor of providing more room for the eradication of the pandemic.

"Prominent players in the viscosupplementation market are emphasizing on developing cross-linked hyaluronic acid to provide immediate pain relief. Exhaustive investments are being undertaken by vendors to ensure that they acquire a competitive edge over their rivals," infers an FMI analyst.

Key Takeaways from FMI's Viscosupplementation Market Report

  • The viscosupplementation market is scheduled to expand at a CAGR of ~5% by the end of 2020
  • By product type, the 3-injection viscosupplementation segment is anticipated to tower over other segments, accounting for more than 50% of the revenue share
  • Knee osteoarthritis shall remain the principal application area for viscosupplementation treatment procedures, gaining ~33% revenue share between 2020 and 2030
  • Ambulatory Surgical Centers shall provide the maximum viscosupplementation treatments due to shorter lengths of stay and cost effectiveness
  • North America shall be the viscosupplementation market hegemon across the forecast period

Viscosupplementation Market- Key Trends

  • While knee osteoarthritis shall continue generating the largest revenue share, efforts are underway to develop novel products addressing hip and elbow joint problems as well
  • Vegan-based viscosupplementation injections are gaining fast traction, such as the MONOVISC series developed by Ankia Therapeutics. It received FDA approval during the first-half of 2014
  • Development of single injection hyaluronic acid supplements will further stimulate the viscosupplementation market

Key Companies Profiled:

  • Sanofi S.A.
  • Zimmer Biomet Holdings Inc.
  • Bioventus LLC
  • Anika Therapeutics Inc.
  • Fidia Farmaceutici S.p.A.
  • Ferring B.V.
  • Seikagaku Corporation
  • Chugai Pharmaceutical Co., Ltd.
  • OrthogenRx Inc.
  • Mylan N.V.

Key Segments of Viscosupplementation Industry Survey

Viscosupplementation Market by Product:

  • Single Injection Viscosupplementation
  • Three Injection Viscosupplementation
  • Five Injection Viscosupplementation

Viscosupplementation Market by Application:

  • Knee Osteoarthritis
  • Hip Osteoarthritis
  • Shoulder Osteoarthritis
  • Others

Viscosupplementation Market by End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Orthopedic Clinics
  • Retail Pharmacies
  • Online Sales

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