Overview and Scope
Viscosupplementation refers to a process where hyaluronic acid, a fluid that resembles gel, is injected straight into the joint. Synovial fluid around joints naturally contains hyaluronic acid, which helps lessen friction while moving.
Sizing and Forecast
The viscosupplementation market size has grown rapidly in recent years. It will grow from $3.74 billion in 2023 to $4.15 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to aging population, rising obesity rates, enhanced insurance coverage, growing awareness, patient preference, increased osteoarthritis cases..
The viscosupplementation market size is expected to see rapid growth in the next few years. It will grow to $6.19 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to regulatory support, alternative payment models, increased healthcare expenditure, research and development, expansion of indications.. Major trends in the forecast period include outcome-based payment models, patient education initiatives, biomarker development, gene therapy research, value-based care models..
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Segmentation & Regional Insights
The viscosupplementation market covered in this report is segmented –
1) By Type: Single Injection Viscosupplementation, Three Injection Viscosupplementation, Five Injection Viscosupplementation
2) By Source: Avian Origin, Non-Avian Origin
3) By Hyaluronic Acids: Standard Hyaluronic Acid, Stabilized Hyaluronic Acid
4) By Application: Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis
5) By End-User: Hospitals, Ambulatory Surgical Centers, Other End-Users
North America was the largest region in the viscosupplementation market in 2023. The regions covered in the viscosupplementation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in the prevalence of osteoarthritis is expected to propel the growth of the viscosupplementation market going forward. Osteoarthritis refers to a degenerative joint disease, also known as a common form of arthritis, in which the joints start to break down, mostly in the hips, knees, and hands. Viscosupplementation treatment helps to reduce pain and facilitate smooth bone movement by injecting hyaluronic acid straight into the bone joints which enables a reduction in pain and improves the bone’s functionality. For instance, according to the Centers for Disease Control and Prevention (CDC), a US-based public health service organization, in the USA, 78.4 million adults aged 18 years and older are projected to have arthritis by 2040. Therefore, the rise in the prevalence of osteoarthritis is driving the growth of the viscosupplementation market going forward.
Key Industry Players
Major companies operating in the viscosupplementation market are developing innovative supplements to gain a competitive edge in the market. For instance, in January 2021, Nuvo Pharmaceuticals Inc., a Canada-based pharmaceutical company launched NeoVisc+ 2 mL and NeoVisc ONE 4 mL in Canada. These products are hyaluronic acid (HA) viscosupplements indicated for the treatment of pain relief and improvement of joint functionality in patients affected by degenerative or mechanical arthropathy of the knee, which are conditions often associated with osteoarthritis. NeoVisc+ 2 mL and NeoVisc ONE 4 mL demonstrate the commitment to providing innovative treatment options for knee pain and osteoarthritis, and they contribute to the expansion of the viscosupplementation market in Canada.
The viscosupplementation market report table of contents includes:
1. Executive Summary
2. Viscosupplementation Market Characteristics
3. Viscosupplementation Market Trends And Strategies
4. Viscosupplementation Market – Macro Economic Scenario
5. Global Viscosupplementation Market Size and Growth
….
31. Global Viscosupplementation Market Competitive Benchmarking
32. Global Viscosupplementation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Viscosupplementation Market
34. Viscosupplementation Market Future Outlook and Potential Analysis
35. Appendix
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