Technavio Announces the Publication of its Research Report Global Viscosupplementation Market 2016-2020
Technavio recognizes the following companies as the key players in the global Viscosupplementation market: Sanofi, Anika Therapeutics, Seikagaku, Fidia Farmaceutici, and Ferring Pharmaceuticals.
Other Prominent Vendors in the market are: Allergan, Contipro Biotech, DePuy Synthes, F. Hoffmann-La Roche, Galderma, HTL Biotechnology, Hyaltech, Expanscience Laboratoires, Lifecore Biomedical, Lipo Chemicals, Merz Aesthetics, Mylan, Nordic Drugs, Shandong Freda Biochem, Shanghai Jingfeng Pharmaceutical, Smith & Nephew, TEIJIN PHARMA, and TRB Chemedica International.
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Commenting on the report, an analyst from Technavios team said: The shift in consumer preference from cheaper five-injection cycle products to premium priced single-injection cycle products is a major positive trend being witnessed in the market in recent years. Despite its exorbitant cost, consumers are increasingly going for single-injection cycle viscosupplements because of shorter treatment time.
According to the report, fast-growing geriatric population is the major driver driving growth in the market. A rising concern worldwide is the fast-growing elderly population, especially in the major countries such as Japan, South Korea, China, Germany, and the US. The geriatric people in these countries are affected by a wide range of chronic diseases such as cancer, liver, osteoarthritis, and kidney diseases.
Further, the report states that the increase in the number of substitutes for viscosupplementation is the major challenge being faced by the manufacturers in the market. NSAIDs, knee replacement devices, cyclooxygenase inhibitors, and joint arthroplasty devices are the substitutes for viscosupplements used in the treatment of knee osteoarthritis.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Viscosupplementation is a minimally invasive treatment for knee osteoarthritis. It involves the injection of hyaluronic acid into a knee joint to assist the viscous properties of synovial fluid. The procedure increases the joints functioning and reduces pain. Intra-articular viscosupplementation with hyaluronic acid is gaining acceptance as it is a non-invasive procedure compared to knee replacement. It is categorized into three product segments single-injection cycle, three-injection cycle, and five-injection cycle.
Technavios analysts forecast the global Viscosupplementation market to grow at a CAGR of 6.23% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global Viscosupplementation market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of products in different regions.
The market is divided into the following segments based on geography:
Technavio’s report, Global Viscosupplementation Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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