Global Viscosupplementation Market Report by Market Research Future (MRFR) Contains Useful Insights Deemed to Assist Market Players in their Strategies for the Period of 2019 and 2023 (forecast period).
Pune, India -- (SBWIRE) -- 12/11/2019 -- Market Outlook
Global viscosupplementation market size can balloon to USD 5,243.19 million by 2023 at a CAGR of 8.96% during the forecast period. High prevalence of knee osteoarthritis is one of the biggest drivers of the market. The rising numbers of the geriatric populace and their increasing vulnerability of the immune system can drive the market demand. Popularity of minimally invasive procedures which can alleviate concerns of pain can work in favor of the market. The intra-articular injection of HA to the knee which acts as a substitute for synovial fluid can attract geriatric patients.
Refusal of insurance coverage for viscosupplementation and other strict government guidelines are factors which can restrain the market growth. Viscosupplements are injections taken by patients suffering from arthritis. It can be used to lubricate the joints in the human body and assist them in mobility. The fluid normally used is a hyaluronic acid (HA) and hyaluronan which have been known to treat the various symptoms of spine arthritis, shoulder osteoarthritis, hip osteoarthritis, and knee osteoarthritis.
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Zimmer Biomet, Bioventus, Regen Lab SA, Hoffmann-La Roche, Allergan, Ferring B.V., Fidia Farmaceutici S.P.A., Sanofi, Anika Therapeutics Inc., and Smith & Nephew Plc are key players of the global viscosupplementation market.
Sodium hyaluronate injections manufactured by Fidia Farmaceutici S.p.A have been granted approval by the U.S. Food and Drug Administration (FDA) in December 2019. It is sold under the brand name, TRILURON. It contains 3 injections which are administered to patients at weekly intervals.
The global viscosupplementation market is segmented into hyaluronic acid type, procedure type, application, and end-user. On the basis of hyaluronic acid type, the global viscosupplementation market is further segmented into stabilized hyaluronic acid and standard hyaluronic acid. The stabilized hyaluronic acid segment accounted for the largest market share for due to the zero risks of impurities and higher quality of the product.
On the basis of procedure type, the market is segmented into single-injection procedure, three-injection procedure, and five-injection procedure. The three-injection procedure segment is leading the market owing to the lower cost of these products compared to single injection procedure products, and the shorter treatment regimen in comparison to five-injection procedure products. On the other hand, single-injection procedure holds the second largest market followed by five-injection procedure for the viscosupplements market owing to the advanced use in osteoarthritis and the use of single-injection procedure requires fewer hospital visits and treats knee osteoarthritis for six months. The three-injection procedure is the leading segment which is growing at the highest CAGR to reach USD 2602.58 million by the end of 2023.
By application, the market is segmented into knee arthritis and hip osteoarthritis. The knee arthritis segment accounted for the largest market share followed by hip osteoarthritis.
On the basis of end user, the market is segmented into hospitals & clinics and ambulatory surgical centers. The hospitals & clinics segment accounted for the larger market share owing to the increasing visit of osteoporosis patient in the hospitals & clinics.
In the market report, the segments mentioned above are covered into four global regions, namely, the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
The Americas had captured the lion's share of the global viscosupplementation market in 2017. This can be attributed to the shift from knee replacement surgeries to minimally invasive procedures. The region can exhibit a remarkable CAGR during the forecast period owing to the sophisticated infrastructure in hospitals and abundance of skilled surgeons and doctors.
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