The global viscosupplementation market is estimated to reach USD 6.6 billion by 2026 growing at a CAGR of 8.2% during the forecast period, according to a new study published by Report Ocean. The report ‘Viscosupplementation Market By Product Type (Single injection, Three injection, Five injection), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Due to growing geriatric population globally and due to increasing occurrences of osteo arthritis, injuries, gingivitis, & abscess, this market is anticipated to gain traction. According to assessment done by WHO, the population of people who are of the age of 65 g and above globally would increase significantly from 7% in the year 2000 and is estimated to grow to 16% by 2050. This significant growth in the elderly population would result in the increased problems of obesity and osteo arthritis, which would indirectly help this market to gain traction during the forecast period. Together with expanding choice for minimally intrusive surgical procedures, worldwide rise in the target populace is anticipated to substantially push the need for viscosupplements throughout the forecast duration.
Geographically, North America is estimated to be the largest viscosupplementation market in 2017. According to Centers for Condition Control as well as Avoidance (CDC) in 2015, over 30 million individuals in the United States experienced osteo arthritis and also around 10% individuals over 55 years endured knee discomfort. These growing numbers are pushing the market growth in this region. Asia Pacific on the other hand is anticipated to be the fastest growing market in 2017 and is estimated to preserve its placement throughout the projection period. This growth rate can be made up by the visibility of a considerable growing base of senior citizens, which is vulnerable to problems such as osteo arthritis as well as rheumatoid joint inflammation. Increasing demand for minimally intrusive treatments is a considerable element adding to the growth rate of Asia Pacific. The Latin American market is anticipated to expand at a rewarding pace in the coming years because of the visibility of high unmet clinical requirements, increasing disposable income and growing awareness among the patients in economies such Brazil and Mexico.
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Among the viscosupplementation products, three injection products are estimated to be the largest segment of the viscosupplementation market. Affordability and shorter therapy duration are some the major factors which are pushing the growth of this product segment. This is closely followed by the single injection.
Major companies operating in the market are focusing on incorporating modern technologies to make innovative viscosupplements. For instance, Anika Therapeutics introduced HYAFF, which aids in production of very efficient biocompatible viscosupplements. The FDA authorized hyaluronates presently offered in the viscosupplementation market are Hyalgan (Sanofi), Euflexxa (Ferring Pharmaceuticals, Inc.), Orthovisc (Anika Rehabs), Supartz, Gel-One (Seikagaku Company), Synvisc, Synvisc One (Genzyme) and also Durolane (Q MEDICATION ABDOMINAL). Some of the major players in this market include Seikagaku Corporation, Lifecore Biomedical, LLC, Zimmer Holdings Inc, Bioventus, Ferring B.V., Sanofi, Anika Therapeutics, Inc., and LG Life Sciences Ltd.
Report Ocean has segmented the global viscosupplementation market report on the basis of product type and region:
Viscosupplementation by Product Type Outlook
Single Injection
Three Injection
Five Injection
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Viscosupplementation by Regions Outlook
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Asia Pacific
China
India
Japan
Australia
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Aim of the Report
- This study aims to determine the market size of various segments and countries with forecast values for next ten years.
- Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
- It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
- The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
What is the goal of the report?
-The market report presents the estimated size of the Healthcare market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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