Home > Pressrelease > Viscosupplementation Market worth over $5.3bn by 2026
Viscosupplementation Market worth over $5.3bn by 2026
- Published Date: June 16, 2020
Viscosupplementation Market size is set to surpass USD 5.3 billion by 2026, according to a new research report by Global Market Insights Inc.
Increasing preference for single injection treatment of osteoarthritis will positively impact the market growth during the forecast period owing to the factors such as growing elderly population susceptible to osteoarthritis and rising demand for minimally invasive treatments. Moreover, companies focusing on the introduction of new products for the treatment of arthritis will enhance the market expansion.
Presence of large patient pool suffering from osteoarthritis across the globe will bolster the market value
The economic burden of arthritis on the patients and society is high across the world. Rising incidences of osteoarthritis among geriatric population is one of the major factors driving the industry growth. According to a recently published data by the OAFI (International Osteoarthritis Foundation) Foundation, more than 300 million people across the world have osteoarthritis. Such large patient pool will require viscosupplementation treatment to reduce pain associated with the joints. Furthermore, increasing focus of industry players towards the launch of new products coupled with rising preference for single injection viscosupplementation treatment will boost the market revenue.
Increasing preference for single injection viscosupplements over other treatments will foster the segment growth
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The single injection segment accounted for around USD 1 billion in 2019 led by the rising inclination of the patients towards single injection viscosupplementation treatment. This shift of patients towards single injection treatment is stimulating the market leaders to manufacture viscosupplements with single injection.
Several advantages of viscosupplements with avian origin will impel the segment expansion
The avian origin segment captured around 24% of the market share in 2019. The exogenous hyaluronic acid produced from avian origin includes poultry material such as cock crest. The viscosupplementation treatment with avian origin presents allergenic potential due to avian antigens. Such viscosupplements improves lubrication and reduces the mechanical overload on the joint.
Browse key industry insights spread across 150 pages with 182 market data tables & 14 figures & charts from the report, “Viscosupplementation Market Size By Product (Single Injection, 3 Injections, 5 Injections), By Source of Origin (Avian Origin, Non-avian Origin), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rising demand for minimally invasive treatments coupled with growing number of ambulatory surgical centers will spur the segment revenue
The ambulatory surgical centers exceeded USD 740 million in 2019 on account of increasing number of ambulatory surgical centers across the globe and rising demand for minimally invasive treatments.
Strong presence of market players and high incidences of osteoarthritis across the country will drive the market value
Germany dominated Europe viscosupplementation market in 2019 and is projected to witness over 9.8% growth rate through 2026 owing to the increasing number of people suffering from osteoarthritis. According to a study published in the Journal of Health Monitoring, in 2016, in Germany, more than 17% adults over the age of 18 suffered from osteoarthritis. Thus, such large group of patients facing problems associated with joints will require the viscosupplementation treatment thereby, enhancing the industry expansion in Germany. In addition to that, growing geriatric population across the country will significantly contribute to the market growth during the forecast timeframe.
Japan viscosupplementation market size was more than USD 318 million in 2019 led by the presence of market players such as Chugai Pharmaceutical Co., Ltd and SEIKAGAKU CORPORATION. Moreover, high prevalence of knee osteoarthritis and lumbar spondylosis in the Japanese population will positively influence the market progression. Additionally, increasing awareness regarding the effectiveness of viscosupplementation treatments and alternatives to avoid knee replacement surgeries will spur the country growth in the coming years.
Companies focusing on strategic acquisitions and new product launches will positively augment the market expansion
Some of the prominent leaders in the viscosupplementation market are Anika Therapeutics, Inc., Aptissen, Bioventus, Fidia Farmaceutici S.p.A., Johnson & Johnson Services, Inc., Mylan Inc., Zimmer Biomet, Wellchem Pharmaceuticals Pte Ltd. and Genzyme Corporation among others. These industry participants are majorly focusing on various strategies such as partnerships, new product launches, mergers, acquisitions, and collaborations.