The Viscosupplementation by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Viscosupplementation, 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.
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.
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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
Technological advancements are the key trends gaining popularity in the viscosupplementation market. Companies operating in the viscosupplementation market are adopting new technologies to sustain their position in the market. In August 2021, Seikagaku Corporation, a Japanese pharmaceutical company, introduced HyLink®, a novel viscosupplement administered via intra-articular single injection, aimed at addressing knee osteoarthritis. HyLink® is being integrated with cross-linking technology. This cross-linking technology is used to make the cross-linked hyaluronate hydrogel that remains for a long time in the joint cavity and is the main ingredient in HyLink®, which makes it a long-lasting treatment.
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
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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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