Selbyville, Delaware, United States, November 4 2020 (Wiredrelease) Global Market Insights, Inc –:Viscosupplementation Market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
The global viscosupplementation market is anticipated to observe substantial growth due to the increasing instances of osteoarthritis throughout the global geriatric population. Osteoarthritis typically affects the joints in hands, knees, spine, and hips, and is responsible for generating high healthcare costs among its patients. Among these, knee osteoarthritis is the most common type of arthritis, affecting millions of people globally.
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As per the International Osteoarthritis Foundation reports, more than 300 million people suffer from osteoarthritis. This vast and constantly growing patient pool is projected to positively impact market growth over the coming years. Viscosupplementation is a minimally invasive medical procedure that does not need the patients to undergo knee replacement surgery, which is creating a higher demand for the procedure and augmenting industry outlook.
While being minimally invasive, viscosupplementation treatment also offers a number of benefits such as making it easier for patients to walk, sit and recline, reduce swelling and discomfort in the affected joints, and effectively improving the daily lifestyle of patients, which is why many arthritis patients are opting for the procedure, increasing its overall implementation.
According to a research report by GMI Inc, the global viscosupplementation market is likely to surpass a valuation of $5.3 billion by 2026.
In terms of the product, the overall viscosupplementation market is classified into 5 injections, 3 injections, and single injection. Among these, the 3 injections segment is projected to record tremendous growth over the coming years due to the increasing adoption as well as availability of numerous commercialized products for osteoarthritis treatment. In fact, the segment held a valuation of more than $1.3 billion in 2019.
The 3 injections treatment is administered through weekly intervals and can effectively reduce the amount of pain experienced by the patient within weeks. As a result of the aforementioned factors, the increasing demand for 3 injections is likely to impel the segment share, thereby fostering overall market size.
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.
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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.
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)
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