The rising worldwide prevalence of knee osteoarthritis, increasing popularity of minimally invasive procedures, and the growing geriatric population would facilitate market growth over the forecast period.
According to Market Research Future (MRFR), the global Viscosupplementation market valuation is projected to reach USD 5,243.19 MN by 2023, at 12% CAGR during the review period (2017 to 2023). The market is witnessing increasing investments in R&D activities, which favors the growth of the market.
On the other hand, stringent government regulations and a rise in insurance denials for viscosupplementation products act as major headwind restricting the market growth. Also, factors such as low awareness among people about the availability of treatment and high manufacturing cost of viscosupplementation products are likely to impede the market growth.
Global Viscosupplementation Market – Geographical Analysis
North America dominates the global viscosupplementation market. The largest share of the market attributes to the rising preferences for minimally invasive viscosupplementation procedures in the treatment of knee osteoarthritis, instead of knee replacement surgeries.
There has been a sudden increase in the demand for viscosupplementation products in the US due to which the US viscosupplementation market is estimated to grow double-fold.
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The Asia Pacific region is an emerging market for viscosupplementation. Growing markets in India and China, backed by the growing prevalence of knee and hip osteoarthritis, provide impetus to the market growth. Additionally, increasing awareness among patients about the availability of non-invasive HA-enhanced bone repair therapy drives a large share of the regional market.
Furthermore, the huge patient population suffering from knee & joints pain alongside the burgeoning medical treatment market in the region influences the regional market growth.
Players leading the global viscosupplementation market include Allergan, Sanofi, Hoffmann-La Roche, Smith & Nephew Plc, Zimmer Biomet, Anika Therapeutics Inc., Ferring B V, Fidia Farmaceutici SpA., Regen Lab SA, and Bioventus, among others.
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Global Viscosupplementation Market – Segmentations
The report is segmented into five main dynamics to widen the scope of understanding,
By Hyaluronic Acid Type: Stabilized Hyaluronic Acid and Standard Hyaluronic Acid.
By Procedure Type: Single-Injection Procedure, Three-Injection Procedure, and Five-Injection Procedure.
By Application: Knee Arthritis and Hip Osteoarthritis.
By End-user: Hospitals & Clinics, Ambulatory Surgical Centers, and others.
By Regions: Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World
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