Global Viscosupplementation Market Size By Product Type (Single Injection Viscosupplementation, Three Injection Viscosupplementation), By Application (Knee Osteoarthritis, Hip Osteoarthritis), By End-User (Hospitals, Orthopedic Clinics/ Ambulatory Surgical Centers), By Geographic Scope And Forecast
Published on: 2024-08-06 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Viscosupplementation Market Size By Product Type (Single Injection Viscosupplementation, Three Injection Viscosupplementation), By Application (Knee Osteoarthritis, Hip Osteoarthritis), By End-User (Hospitals, Orthopedic Clinics/ Ambulatory Surgical Centers), By Geographic Scope And Forecast
Viscosupplementation Market Size And Forecast
Viscosupplementation Market size was valued at USD 6.5 Billion in 2023 and is projected to reach USD 12.38 Billion by 2031, growing at a CAGR of 9.24% from 2024 to 2031.
- Viscosupplementation, a therapeutic technique predominantly used in the treatment of osteoarthritis is a notable achievement in orthopedic medicine. This novel method includes injecting a viscoelastic material often hyaluronic acid (HA) into the afflicted joint to relieve pain, increase joint mobility, and possibly halt disease progression. Viscosupplementation as a minimally invasive process appears to be a viable option for patients seeking relief from osteoarthritis symptoms particularly those that have not responded to standard treatments.
- Viscosupplementation has evolved as a versatile treatment technique with a wide range of medical uses and disorders. From managing osteoarthritis and sports injuries to aiding post-operative recovery and promoting joint health in animals, viscosupplementation is a promising alternative for decreasing joint discomfort, increasing mobility, and improving patients’ quality of life. As research continues to investigate its mechanisms of action and efficacy in various clinical scenarios, viscosupplementation is expected to remain a valuable tool in the arsenal of healthcare providers and veterinarians providing hope and relief to both humans and animals facing joint-related challenges.
- Viscosupplementation has a bright future, thanks to advances in treatment efficacy, therapeutic uses, biotechnologies, and healthcare delivery paradigms. Viscosupplementation has the potential to revolutionize the management of musculoskeletal disorders particularly osteoarthritis by adopting personalized medicine principles, expanding therapeutic indications, integrating advanced drug delivery systems, and addressing economic and healthcare system challenges.
Global Viscosupplementation Market Dynamics
The key market dynamics that are shaping the Viscosupplementation Market include
Key Market Drivers
- Aging Population and Rising Prevalence of OsteoarthritisThe aging population and rising prevalence of osteoarthritis are key factors driving the viscosupplementation industry. As the world’s population ages, the prevalence of osteoarthritis, a degenerative joint condition marked by cartilage breakdown and inflammation is increasing. This demographic trend is most noticeable in industrialized countries where life expectancy is rising and the old population makes up a sizable proportion of the total population.
- Technological Advancement and Product Innovation Technological advances and ongoing innovation in viscosupplementation products are propelling market expansion and broadening the range of therapeutic options available to patients. Manufacturers are investing in R&D to improve the efficacy, safety, and durability of viscosupplements resulting in the release of next-generation formulations and delivery technologies. Newer viscosupplementation products have increased rheological qualities which allows for better joint lubrication and cushioning.
- Patients Prefer Non-Surgical OptionsPatients increased desire for non-surgical treatment choices is driving up demand for viscosupplementation as an alternative to invasive operations like joint replacement surgery. Many osteoarthritis patients prefer conservative measures to manage their symptoms especially in the early stages of the illness when surgical intervention may not be required or recommended.
Key Challenges
- Limited Clinical Evidence and Inconsistent EfficacyOne of the key obstacles for viscosupplementation is a lack of clinical evidence confirming its usefulness especially when compared to other osteoarthritis therapy options. Numerous research have looked into the effectiveness of viscosupplements in lowering pain and improving joint function but the results have been mixed. Some studies found significant improvements while others showed little to no reduction in symptoms.
- Cost and Reimbursement Issues Another major impediment to the widespread use of viscosupplementation is the high cost. Viscosupplements are usually more expensive than standard therapies like oral analgesics and physical therapy. Furthermore, the necessity for several injections over a period of weeks raises the entire cost of treatment making it financially difficult for certain patients especially those without adequate insurance coverage.
- Patient Selection and Treatment OptimizationOptimal patient selection and treatment optimization pose significant challenges in the implementation of viscosupplementation. Not all osteoarthritis patients are appropriate candidates for this therapy, and determining who will benefit the most remains a hard and delicate process. Disease severity, joint anatomy, comorbidities, and patient preferences must all be addressed when establishing eligibility for viscosupplementation.
Key Trends
- Advances in Formulation and Delivery SystemsOne of the most apparent trends in viscosupplementation is the continuous improvement of formulations and delivery methods. Traditionally, viscosupplements may only be given once or three times. However, recent advancements have resulted in the development of more durable and long-lasting formulations allowing patients to experience long-term relief. These next-generation viscosupplements employ novel cross-linking technologies and modifications to increase the viscosity and stability of HA molecules hence extending their stay in the joint region.
- Personalized Medicine and Biomarker ResearchPersonalized medicine is emerging as a prominent trend in viscosupplementation owing to advances in biomarker research and molecular diagnosis. Clinicians can personalize therapy regimens to individual patients by assessing particular biomarkers linked with joint health and disease progression. This optimizes therapeutic outcomes while minimizing side effects. Biomarkers such as inflammatory cytokines, cartilage degradation markers, and genetic predispositions are critical for predicting therapy response and identifying patients who will benefit the most from viscosupplementation.
- Focus on Outcomes Research and Health EconomicsWith the growing emphasis on evidence-based treatment and cost-effectiveness, outcomes research and health economics have become essential components of viscosupplementation studies. Clinicians and healthcare decision-makers are looking for rigorous clinical data and economic analysis to assess the real-world impact of viscosupplementation on patient outcomes, healthcare utilization, and overall healthcare expenditures. Randomized controlled trials, meta-analyses, and observational studies are being done to determine the efficacy, safety, and long-term advantages of viscosupplementation as compared to traditional therapies and surgical approaches.
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Global Viscosupplementation Market Regional Analysis
Here is a more detailed regional analysis of the Viscosupplementation Market
North America
- According to Market Research analyst, The North American Viscosupplementation Market is a strong force in the global landscape accounting for a considerable part of the industry, a trend that is anticipated to continue in the coming years. This dominance is supported by a number of causes with the growing senior population and rising prevalence of osteoarthritis emerging as main drivers of market expansion. As North America’s demographic composition changes with an increasing number of elderly people, the prevalence of osteoarthritis, a degenerative joint ailment that mostly affects older persons, rises.
- The North American Viscosupplementation Market is expected to grow significantly owing to demographic trends and disease prevalence. As the senior population grows, so does the pool of potential patients for viscosupplementation therapy paving the way for market expansion. Furthermore, advances in medical technology and the launch of new viscosupplements with higher efficacy and safety profiles are projected to boost market demand.
- The North American Viscosupplementation Market is expected to grow and expand in the next years owing to demographic shifts, illness prevalence, technical improvements, and regulatory changes. As the region’s senior population grows and the prevalence of osteoarthritis rises, the demand for viscosupplementation therapy is likely to increase. Market participants are ready to seize this opportunity by investing in innovation, forming strategic alliances, and managing the changing regulatory landscape.
Asia Pacific
- The Asia-Pacific region is poised to become the global leader in viscosupplementation, a treatment method used to alleviate osteoarthritis symptoms. This expected climb to the market’s zenith is supported by a number of critical elements fueling its growth trajectory. One of the most important of these causes is the growing knowledge among healthcare professionals and patients about the effectiveness of viscosupplementation as a non-surgical therapy option for osteoarthritis.
- The fast expansion of healthcare facilities and infrastructure in emerging Asia-Pacific nations is a critical factor driving market growth. As these countries invest heavily in healthcare infrastructure development, there is also an increase in access to innovative medical treatments and therapies such as viscosupplementation. The increased availability of healthcare services together with improved healthcare standards is encouraging the widespread acceptance of viscosupplementation as a primary therapy strategy for osteoarthritis.
- The Asia-Pacific Viscosupplementation Market is expected to grow at an unprecedented rate driven by factors such as increased awareness of its efficacy, rising demand for non-surgical therapies, expanding healthcare infrastructure, rising prevalence of osteoarthritis, an evolving regulatory landscape, collaborative efforts among stakeholders, and the burgeoning medical tourism industry.
Global Viscosupplementation MarketSegmentation Analysis
The Global Viscosupplementation Market is segmented on the basis of Type, Application, End-User, and Geography.
Viscosupplementation Market, By Type
- Single Injection Viscosupplementation
- Three Injection Viscosupplementation
- Five Injection Viscosupplementation
Based on Type, The market is segmented into Single Injection Viscosupplementation, Three Injection Viscosupplementation, and Five Injection Viscosupplementation. The rising acceptance and commercialization of pharmaceutical products are expected to propel the three-injection category to dominate the market share in the forecast period. However, the single-injection category is projected to lead due to its advantages including shorter treatment regimens, reduced need for frequent hospital visits, and decreased discomfort for patients. These benefits contribute to the growing preference for single-injection therapies indicating a shift in market dynamics towards more patient-friendly treatment options.
Viscosupplementation Market, By Application
- Knee Osteoarthritis
- Hip Osteoarthritis
- Shoulder Osteoarthritis
Based on Application, The market is segmented into Knee Osteoarthritis, Hip Osteoarthritis, and Shoulder Osteoarthritis. The largest market share in the medical sector is held by knee osteoarthritis primarily driven by the prevalence of disability among the geriatric population. The aging demographic contributes to a surge in knee osteoarthritis cases. Risk factors such as obesity, diabetes, hypertension, cardiovascular diseases, renal failure, gastrointestinal issues, trauma, and cardiovascular disorders further elevate the likelihood of developing knee osteoarthritis.
Viscosupplementation Market, By End-User
- Hospitals
- Orthopedic Clinics/ Ambulatory Surgical Centers
- Retail Pharmacies
Based on End-User, The market is segmented into Hospitals, Orthopedic Clinics/ Ambulatory Surgical Centers, and Retail Pharmacies. Orthopedic clinics and Ambulatory Surgical Centers (ASCs) currently hold the largest market shares and are poised to maintain their dominance in the projected period. ASCs specializing in same-day surgery cater to the escalating demand for outpatient procedures encompassing preventative and diagnostic treatments. The sector’s growth is further propelled by the mounting prevalence of osteoarthritis among the elderly population.
Viscosupplementation Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Geography, The Global Viscosupplementation Market is segmented into North America, Europe, Asia Pacific, and the Rest of the world. The North American Viscosupplementation Market commands a substantial portion of the global industry and is poised to maintain its dominance in the foreseeable future. With the senior population on the rise, there is a corresponding increase in the prevalence of osteoarthritis fueling the demand for joint-injectable solutions. As individuals seek effective relief from joint pain and improved mobility, viscosupplementation emerges as a preferred treatment option.
Key Players
The “Global Viscosupplementation Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Sanofi, Anika Therapeutics, Inc., Seikagaku Corp., Zimmer Biomet, Smith & Nephew PLC, Ferring Pharmaceuticals B.V., Lifecore Biomedical, LG Life Sciences Ltd., and Fidia Farmaceutici S.p.A, F.Hoffmann-La Roche Ltd.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Viscosupplementation Market Recent Developments
- In April 2022, Juniper Biologics and Kolon Life Sciences have signed a licensing agreement to develop and sell TissueGene-C low dose (TG-C LD), an experimental therapeutic designed for non-surgical treatment with a single intra-articular injection, specifically for knee osteoarthritis. According to the terms of the licensing deal, Juniper will lead the efforts to develop and promote this gene therapy, with a focus on medical professionals and hospitals in the Asia-Pacific, Middle East, and Africa regions.
- In November 2022, Anika Therapeutics, Inc., a well-known joint preservation firm, has successfully met the primary endpoint in the Phase III Study for Cingal. This drug is designed to provide long-term pain relief for people with knee osteoarthritis (OA). Cingal’s FDA clearance and introduction into the United States are the company’s top priorities. Successful trials of this sort enable organizations to improve their research and development efforts, giving them a competitive advantage in the market.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2020-2031 |
BASE YEAR | 2023 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2020-2022 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Sanofi, Anika Therapeutics, Inc., Seikagaku Corp., Zimmer Biomet, Smith & Nephew PLC, Ferring Pharmaceuticals B.V., Lifecore Biomedical. |
SEGMENTS COVERED | By Type, By Application, By End-User, And By Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new