The Report Presents a Detailed Review of the Historical Growth Trajectory of the Global Viscosupplementation Market in Order to Provide Reliable Projections about the Probable Growth Trajectory of the Global Viscosupplementation Market over the Forecast Period
Viscosupplementation Market – Highlights
The global viscosupplementation market was estimated USD 3.2 billion in 2017 and expected to reach USD 5.34 billion by 2023 at a CAGR of 8.9 % during the forecast period. Viscosupplementation Is a treatment procedure used for the treatment of osteoporosis and arthritis During this procedure a jelly substance hyaluronic acid is injected into the knee joint to reduce the pain. Hyaluronic acid is a natural substance found in the synovia.
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Hyaluronic acid acts as a lubricant to support bones to move smoothly over each other and function properly. The people suffering from osteoarthritis have a low concentration of hyaluronic acid in their joints, due to the lower concentration of hyaluronic acid causes pain in the joins. Growing global incidence of osteoarthritis leads to high demand for osteoarthritis therapeutic products, which includes viscosupplementation procedures. However, the factor such as lack of awareness about this procedure hinders the market growth.
Some of the key players in the global viscosupplementation market are Sanofi (France), Anika Therapeutics, Inc. (US), Ferring B.V. (Switzerland), Ferring Pharmaceuticals (Switzerland), Fidia Farmaceutici (Italy), Lifecore Biomedical LLC (US), Seikagaku Corporation (Japan), Smith & Nephew Plc (UK), Zimmer Biomet (US), Allergan (Dubai), F. Hoffmann-La Roche (Switzerland), HTL Biotechnology (France), and Others.
Worldwide Segmentation Analysis
The global viscosupplementation market is segmented on the basis of hyaluronic acid type, procedure type, application and end users.
The viscosupplementation market, by hyaluronic acid type is segmented into stabilized hyaluronic acid and standard hyaluronic acid.
The viscosupplementation market, by procedure type is segmented into single injection procedure, three injection procedure and five injection procedure.
By application the market is segmented into knee arthritis, hip osteoarthritis, shoulder osteoarthritis and others.
On the basis of end user, the market is segmented into hospitals & clinics, ambulatory surgical centres and pharmacies.
The Americas is expected to lead the market owing to increase in arthritis and rising geriatric population with joint problems. According to the Centers for Disease Control and Prevention 2018 publication it was estimated that by 2040, 78 million of the US adults of 18 years or older are projected to have doctor-diagnosed arthritis. The increasing number prevalence of arthritis with in the population may influence the viscosupplementation market.
Europe is anticipated to be the second largest viscosupplementation market during the forecast period. The increasing prevalence of obesity, decreasing bone density among the Europe population. According to the National Center for Biotechnology Information 2016, article it was reported that people affected from septic arthritis (SA) ranges between 2 and 10 per 100,000 patients in the US and Western Europe. The rising geriatric population and increasing cases of arthritis supports the viscosupplementation market.
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Asia-Pacific was expected to be the fastest growing region for the global viscosupplementation market in 2017. The market is expected to witness high growth owing to the rising awareness about the stabilized hyaluronic acid and standard hyaluronic acid for the treatment of arthritis and also the growing According to the MoHFW, Government of India, 2017, it was reported that osteoarthritis is the most common rheumatologic disease which is affecting the Indian population with the prevalence of 22% to 39%. The rising prevalence of rheumatologic disease are increasing the demand for viscosupplementation procedures.
The Middle East and Africa holds the lowest share for viscosupplementation market due to the low per capita income and availability of various other treatment method. However, the rising demand for pain relieving products for deducing the joint pain may increase the market growth in Middle East and Africa.
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