Viscosupplementation Market

Viscosupplementation Market Size (2023 To 2028)

During the forecast period, the global viscosupplementation market size is forecasted to grow at a CAGR of 9.45%. The market size is estimated to value USD 7.75 billion by 2028 and USD 4.93 billion in 2023.

Viscosupplementation is a medical procedure to treat people suffering from osteoarthritis in the hip, knee, ankle, and spine arthritis. Generally, at first, injecting numbing medicine into the space around the knee joint removes excess fluid, causing the joint to swell and later hyaluronic acid into the space inside the joint. The synovial fluid in the joints loses its capability to lubricate the joint. The liquid is a thick gel-like substance softening the joints and provides lubrication to reduce friction. People suffering from osteoarthritis have less hyaluronic acid in their joints. They have symptoms like pain, swelling, and stiffness. As soon as hyaluronic acid is injected into the joints, the pain doesn't reduce right away. Once done with the full course of treatment, they may notice some pain relief.

MARKET TRENDS:

The growing adoption of viscosupplementation treatment by patients is majorly accelerating the global viscosupplementation market growth.

Advancements in the development of hyaluronic acid-based therapy and the rising popularity of lifestyle-induced disorders are further adding a significant boost to the market growth. In addition, an increase in product launches and regulatory approvals are also increasing the demand levels for viscosupplementation.

The growing incidence of osteoarthritis is another significant factor accelerating the market growth.

Osteoarthritis (OA) is seen mainly in people aged 60 years and above. The geriatric population is much more likely to be prone to osteoarthritis and noticed in 10% of men and 13% of women in a survey. According to the Population Reference Bureau, the American population is aged 65 years and older and is projected to rise two times from 46 million in 2016 to 98 million by 2060. Patients prescribed osteoarthritis take hyaluronic acid injections to get more relief than simple analgesics or drug treatment.

Additionally, growth in the prevalence of knee osteoarthritis and hip osteoarthritis is further driving demand for viscosupplementation products. For example, 10% of men and 13% of women suffer from knee osteoarthritis, aged around 60. Thus, globally, there are lucrative opportunities for the viscosupplementation market by ambulatory surgical centers. Ambulatory surgical centers provide treatment under a licensed physician's direction to medical care for needy patients.

MARKET RESTRAINTS:

However, fluctuations in the availability of the products are slowly impeding the growth rate of the market. In addition, long-term use of these products results in side effects, which is also a factor degrading the market demand.  Lack of safety and efficiency associated with viscosupplementation products and complex regulatory processes are other significant issues that the global viscosupplementation market is currently facing.

COVID-19 Impact on the global viscosupplementation market:

COVID-19 has disrupted all sectors in unprecedented ways. World Health Organization declared the spread of COVID-19 as a pandemic. The viscosupplementation market shares were at a high pace before the start of COVID-19. Since the beginning of COVID-19, the market shares were going down, which are expected to hike by 2021. All government authorities have imposed a lockdown and a ban on flights during the first half of 2020. During this time, all the manufacturing units and the supply chain were paused, which declined the market's growth rate. In the meanwhile, some key players in the viscosupplementation market, such as Fidia Framaceutici S.P.A introduced the TRILUON product, which is used to treat osteoarthritis pain of the knee. Many key players focus on developing new products and promoting them through different platforms to grow the market. 

REPORT COVERAGE:

This research report on the global viscosupplementation market has been segmented and sub-segmented based on the product, end-user, and region.

Viscosupplementation Market – By Product:

• Single Injection
• Three Injection
• Five Injection

Based on the product, the three injections segment is expected to account for the maximum share during the forecast period due to the high adoption and commercialized products. On the other hand, the single-injection segment is predicted to register a healthy CAGR between 2021 to 2026 due to the benefits of shorter regimens, no need to visit the hospital regularly, and less pain. 

Viscosupplementation Market – By End-Use:

• Hospitals
• Orthopedic Clinic/ Ambulatory Surgical Centers (ASCs)

Based on end-user, the segment orthopedic clinics/Ambulatory Surgical Centers (ASCs) accounted for the highest number of shares in 2022 and is predicted to continue the domination throughout the forecast period. Orthopedic clinics and ambulatory surgical centers worldwide provide various medical services to create awareness and promote treatment at an affordable cost.

Viscosupplementation Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American viscosupplementation market held with the largest share of the global market in 2022 and is expected to continue the same in the coming years. A rise in the geriatric population leads to an increase in osteoarthritis incidence, which boosts demand for joint-injectable products. The population of Americans aged 65 or older is much higher than in any other region; this will help grow the viscosupplementation market in North America. This regional market was the most lucrative application for hyaluronic acids in 2019 to manage Viscosupplements. A rise in the geriatric population leads to an increase in osteoarthritis incidence, which boosts demand for joint-injectable products.

The Asia Pacific viscosupplementation market is estimated to be the fastest-growing region globally during the forecast period. Increasing awareness of viscosupplementation effectiveness and rising demand for non-surgical treatments are significant reasons for market growth. Due to emerging countries such as China, India, South Korea, and Japan, increasing healthcare facilities and infrastructure growth helped the market grow. Moreover, in countries like South Korea, low governing limitations contributed to the rise of the Asia-Pacific viscosupplementation market. North Korea had named viscosupplementation as a specialized medication. Eventually, in countries like India and China, the low manufacturing cost grabbed the pharmaceutical and biotechnological giants in the Asia-Pacific region. Only in India, approximately more than 260 thousand people were affected due to rheumatoid arthritis, fueling the Asia-Pacific viscosupplementation market. Thus, the Asia-pacific region is expected to be a cost-effective market. An increase in awareness about the effectiveness of viscosupplementation and improvement of healthcare infrastructure in emerging countries such as Japan, South Korea, India, and China are driving significant growth in this regional market. The low regulatory barrier in South Korea and other countries developing a foreseen for attractive opportunities to be set afoot by key players in those countries. 

The European viscosupplementation market is predicted to grow at a promising rate during the forecast period. The increase in patient awareness about the effective treatment for knee osteoarthritis fuel the market growth. The rising obesity rates had helped the viscosupplementation market growth. The cost-effectiveness of the treatment and the growing medical technology industry had raised the viscosupplementation market in Europe. Moreover, the rapidly increasing aging population with osteoarthritis indications helped the market's growth. Since the viscosupplementation had a strong safety profile and the best physicochemical properties of hyaluronic acid-based viscosupplementation injections helped the market. Consumers of the European region view pricing and reimbursement as decisive factors for choosing hyaluronic acid treatment. In other parts of the world, the rating will be based on the safety of the world. To avoid knee surgeries as possible is the main motto of doctors, which boosts demand for pain management by viscosupplements.

VISCOSUPPLEMENTATION MARKET SHARE INSIGHTS:

The global viscosupplementation market is competitive, and several new players have entered this market in the recent past. To neutralize the competition and strengthen their position, the leading companies invest in R&D and focus on new product launches.

Manufacturers such as Sanofi S.A., Zimmer Biomet Holdings Inc., Bioventus LLC, Anika Therapeutics Inc., Fidia Farmaceutici S.p.A., Ferring B.V., Seikagaku Corporation, Chungai Pharmaceutical Co., Ltd., OrthogenRx Inc., and Mylan N.V are playing the leading role in the global viscosupplementation market.

KEY HAPPENINGS IN THIS MARKET:

• In April 2018, for product JTA-004 intra-articular injection for knee O.A., clinical trials were completed by Bone Therapeutics S.A. It is a protein solution enhancement that is supplemented with hyaluronic acid and clonidine.
• In June 2019, Hyalofast, a new product showcased by Anika Therapeutics, Inc., repaired the cartilages at ICRS (International cartilage regeneration and joint preservation society).