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Viscosupplementation Market to Surge at a Robust Pace In Terms Of Revenue Over 2032

Market Overview:

The Viscosupplementation market revenues were estimated at US$ 4.4 Bn in 2021 and is anticipated to grow at a CAGR of 10.8% from 2022-2032, according to a recently published Persistence Market Research report. By the end of 2032, the market is expected to reach US$ 13.6 Bn. Viscosupplementation market revenue through single injection is expected to grow at a CAGR of 11.2% during the forecast period.

The rise in the value of lifestyle-related diseases, the advances in the production of hyaluronic acid-based treatments, and the increase in non-surgical treatments for knee osteoarthritis are some of the factors that drive the growth of this market. Viscosupplements have been found to be the most effective therapy for knee osteoarthritis in clinical trials.

Osteoarthritis is a painful degenerative joint disease that is the major cause of chronic disability. After the age of 30, the ailment frequently occurs, and after ten years, it can grow to a disorder. During the projection period, product demand is predicted to be greatly boosted by the global expansion in the target population, as well as the growing preference for alternate corticosteroid treatment alternatives for joint pain management.

The increasing number of accredited FDA recommendations for three-injection viscosupplemental drugs is likely to drive the market forward. OrthoGenRx, for example, introduced TriVisc in the United States in January 2018. The need for single-injection brands is predicted to rise during the forecast period because of a shorter regimen, fewer hospital visits, and fewer side effects and related discomfort.

According to WHO forecasts, the global population of people aged 65 and more will increase from 7% in 2000 to 16% in 2050, resulting in an increase in obesity and osteoarthritis. As a result, the growing preference for alternate corticosteroid treatment alternatives for joint pain management, together with the global expansion in the target population is predicted to significantly boost the market during the projection period.

Growth Factors:

Viscosupplementation is a medical procedure that involves the injection of a gel-like substance into a joint to supplement the viscous properties of the synovial fluid. This treatment is primarily used for managing symptoms associated with osteoarthritis, providing lubrication, cushioning, and shock absorption within the affected joint, thereby reducing pain and improving joint function. The viscosupplementation market has experienced growth due to several factors, including:

  1. Rising Prevalence of Osteoarthritis: The increasing prevalence of osteoarthritis, particularly among the aging population, has led to a growing demand for effective treatments to manage joint pain and improve mobility, driving the adoption of viscosupplementation procedures.
  2. Advancements in Viscosupplements: Ongoing advancements in medical technology have led to the development of improved viscosupplements with enhanced properties, longer-lasting effects, and better safety profiles, contributing to the expansion of the viscosupplementation market.
  3. Increasing Awareness and Acceptance: The growing awareness among healthcare professionals and patients about the benefits of viscosupplementation as a non-surgical treatment option for osteoarthritis has led to increased acceptance and utilization of these procedures, fostering market growth.
  4. Preference for Minimally Invasive Treatments: The preference for minimally invasive procedures among patients and healthcare providers, coupled with the potential benefits of viscosupplementation in delaying the need for more invasive surgical interventions, has driven the demand for these treatments.
  5. Growing Geriatric Population: The global increase in the aging population has contributed to the rising incidence of osteoarthritis and age-related joint disorders, leading to an expanded patient pool for viscosupplementation procedures, thereby stimulating market growth.

Market Challenges:

The viscosupplementation market faces several challenges that can impact its growth and development. These challenges include:

Regulatory and Reimbursement Hurdles: Viscosupplementation products are subject to regulatory approval, and the requirements can vary from one region to another. Navigating the regulatory landscape and obtaining approvals can be a time-consuming and costly process. Additionally, reimbursement policies for viscosupplementation treatments may not be consistent across all healthcare systems, which can affect the accessibility of these treatments.

Limited Efficacy for Some Patients: Viscosupplementation is not a one-size-fits-all solution, and its efficacy can vary from patient to patient. Some individuals may not experience significant pain relief or improved joint function, making it necessary to explore alternative treatments, including surgical options.

Competition from Alternative Therapies: There are alternative treatments available for osteoarthritis, such as physical therapy, pain medications, corticosteroid injections, and surgical interventions. The competition from these treatment options can pose a challenge to the growth of viscosupplementation.

Cost Concerns: The cost of viscosupplementation can be a barrier for some patients, particularly if they need repeated injections. Healthcare systems and insurance providers may not always cover the full cost of the procedure, leading to out-of-pocket expenses for patients.

Limited Duration of Effect: Viscosupplementation injections typically provide pain relief and improved joint function for a limited duration. Patients may need repeat injections, which can be inconvenient and costly, particularly for those who do not experience long-lasting benefits.

Patient Selection and Education: Identifying the right candidates for viscosupplementation and educating both healthcare providers and patients about the procedures benefits, limitations, and potential risks can be a challenge. In some cases, patients may have unrealistic expectations about the outcomes of the treatment.

Safety Concerns: While viscosupplementation is generally considered safe, there can be rare cases of adverse events, such as joint infections or allergic reactions. Ensuring the safety and proper administration of these injections is crucial.

For critical insights on this market, request for customization here @ https://www.persistencemarketresearch.com/request-customization/33245

Competitive Landscape

Some of the key players in the viscosupplementation market include Sanofi, Anika Therapeutics, Inc., Seikagaku Corp., Zimmer Biomet, Smith & Nephew PLC, Ferring Pharmaceuticals B.V., Lifecore Biomedical, LG Life Sciences Ltd., Fidia Farmaceutici S.p.A., and F.Hoffmann-La Roche Ltd.

Some of the recent developments in the market are as follows:

In April 2018, Bone Therapeutics S.A. finished clinical studies for its JTA-004 intra-articular injection for knee OA.
Recently, Anika Therapeutics, Inc. debuted Hyalofast, a hyaluronic acid-based scaffold for cartilage repair, at the International Cartilage Regeneration and Joint Preservation Society (ICRS).
Recently, DUROLANE, a single-injection HA product from Bioventus, has been approved by the FDA to treat the pain associated with knee osteoarthritis.

Competitive Analysis

Some of the key players in the viscosupplementation market include Sanofi, Anika Therapeutics, Inc., Seikagaku Corp., Zimmer Biomet, Smith & Nephew PLC, Ferring Pharmaceuticals B.V., Lifecore Biomedical, LG Life Sciences Ltd., Fidia Farmaceutici S.p.A., and F.Hoffmann-La Roche Ltd.

Some of the recent developments in the market are as follows:

In April 2018, Bone Therapeutics S.A. finished clinical studies for its JTA-004 intra-articular injection for knee OA.
Recently, Anika Therapeutics, Inc. debuted Hyalofast, a hyaluronic acid-based scaffold for cartilage repair, at the International Cartilage Regeneration and Joint Preservation Society (ICRS).
Recently, DUROLANE, a single-injection HA product from Bioventus, has been approved by the FDA to treat the pain associated with knee osteoarthritis.
Similarly, recent developments related to companies offering Viscosupplementation have been tracked by the team at Persistence Market Research, which is available in the full report.

Market Segments Covered in Viscosupplementation Market Industry Analysis

By Product Type

Single Injection
Three Injection
Five Injection
By End User

Hospitals
Orthopaedic Clinics/Ambulatory Surgical Centres (ASCs)

About Us:

Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.

Contact us:

Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
Sales – [email protected]
Website – https://www.persistencemarketresearch.com

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