The Global Market for Viscosupplementation is all Set to Score a CAGR of 8.96% to Surpass a Valuation of USD 5243.19 Million Between 2018 and 2023. This Span of Time can be Deemed as the Forecast Period. Market Research Future (MRFR) Reports that the Global Market for Viscosupplementation Market can Depend on Better Integration of the Process to Ensure High Growth for the Market.
Viscosupplementation Market Overview:
Factors like the increasing case of knee osteoarthritis can impact the growth of the global market. Various minimally invasive procedures are also gaining traction to provide better scope for expansion. There are other factors as well that can provide thrust to the market. For instance, rise in geriatric population, better technological integration to inspire market growth, and others can trigger significant market growth. A substantial change in the lifestyle, with hike in cigarette and alcohol consumption, can also trigger global market growth.
On the flip side, the market for viscosupplementation can face some hindrances in the guise of stringent government regulations and rejections by insurance companies. But the process has the potential to impact the global market significantly.
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Global players involved in the market for viscosupplementation have been considered for the market report on the same by MRFR. The report involves companies like Allergan, Sanofi, Zimmer Biomet, Hoffmann-La Roche, Anika Therapeutics Inc., Smith & Nephew Plc, Ferring B.V., Fidia Farmaceutici S.P.A., Regen Lab SA, Bioventus, and others to understand how the market is progressing and what trends are getting deployed for the betterment of the market.
In October 2019, BioTime, Inc., declared that they are planning to transform the global viscosupplementation market by launching a new treatment called ReGlyde that is in its preclinical stage and can be considered as a combination product that can be used to deliver drugs in osteoarthritis.
The global market report for viscosupplementation provides a better chance for understanding the market trends by getting it segmented on the basis of hyaluronic acid type, application, procedure type, and end-user.
By hyaluronic acid type, the global market for viscosupplementation includes stabilized hyaluronic acid and standard hyaluronic acid. The stabilized hyaluronic acid segment has better market coverage as it comes with zero risks of impurities and the product is of higher quality.
By procedure type, the market for viscosupplementation includes three-injection procedure, single-injection procedure, and five-injection procedure. The three-injection procedure segment has better market coverage as the cost is significantly lower compared to others and requires a shorter span of time for the treatment than the five-injection procedure products. The three-injection procedure is expected to register an impressive CAGR with the possibility of achieving a valuation of USD 2602.58 million by the end of 2023.
By application, the market for viscosupplementation can be segmented into knee arthritis and hip osteoarthritis. The knee arthritis segment has the maximum market share and the hip osteoarthritis segment follows the lead closely.
By end user, the market for viscosupplementation includes hospitals & clinics and ambulatory surgical centers. The hospitals & clinics segment has the maximum market coverage.
The Americas, as per the reports of 2017, is leading the global market and can achieve the highest CAGR during the forecast period. The hike in the adoption of such a procedure is a marker of the increasing demand for minimally invasive viscosupplementation procedures instead of knee replacement surgeries. Sophisticated healthcare structure and better investment capacity are factors that can impact the global market as well.
The Asia-Pacific region is recording its data as the second largest market with a projected valuation of USD 447.24 million by 2023 that can be achieved with a CAGR of 10.48%. rising awareness regarding the procedure, a better acceptance of this minimally invasive surgery is expected to contribute significantly to the regional market. China, Japan, India, and Australia are regions that would inspire the regional market to record a substantial growth speed.
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