Future Outlook of the Viscosupplementation Market: Analyzing Size, Segmentation, and Competitive Landscape By Report Ocean
Introduction
The “ Viscosupplementation “ market’s future trajectory is a topic of paramount importance, necessitating a comprehensive analysis encompassing market size, segmentation, competitive landscape, present conditions, and anticipated trends. Moreover, the ongoing challenges posed by the COVID-19 pandemic also warrant strategic insights for businesses to navigate these circumstances successfully.
Market Size and Segmentation
The Viscosupplementation market’s evolution hinges on understanding its size and segmentation dynamics. This entails delving into aspects like product types, applications, and geographical distribution. By dissecting these facets, a clearer perspective on future growth prospects can be gained.
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The global viscosupplementation market held a market value of USD 4,041 million in 2021 and is projected to reach USD 8,958.9 million by the year 2030. The market is projected to list a CAGR of 9.2% during the forecast period.
Some of the reasons anticipated to propel the market include the rising need for non-surgical treatments for osteoarthritis, the prevalence of illnesses brought on by a sedentary lifestyle, and improvements in the creation of hyaluronic acid-based therapies. The market-available viscosupplements have been clinically demonstrated to be the most efficient treatment for knee osteoarthritis. Osteoarthritis is the most common chronic cause of disability and is a painful degenerative joint condition. The condition typically begins after the age of 30, and after 10 years of diagnosis, it may grow to become a disability.
Growth Influencers:
Surging geriatric populations and prevalence of Osteoarthritis will drive the growth of the market
The rising geriatric population is driving the market growth. According to projections made by the WHO, the number of people 65 and older in the world is expected to climb from 7% in 2000 to 16% in 2050, which will subsequently cause an increase in the prevalence of obesity and osteoarthritis. Thus, it is anticipated that over the projection period, the demand for the product would develop significantly due to the global expansion in the target population and the growing preference for alternate treatment alternatives for corticosteroids for the management of joint pain.
Combination Therapy of Gel Injection and Knee Bracing Benefit Moderate-grade Knee Arthritis Patients
Hyaluronic acid is the active component in knee arthritis gel injections. Our bodies naturally manufacture hyaluronic acid. It is an essential part of the synovial fluid that lubricates many of our joints. Over time, the quality of hyaluronic acid in knees with osteoarthritis declines.
Synovial fluid’s consistency is affected by low-quality hyaluronic acid, which lessens the fluid’s capacity for lubrication and shock absorption. Greater lubrication is the main advantage of hyaluronic acid injections into joints. There are, however, a number of additional ways in which it might enhance joint performance. An antioxidant, hyaluronic acid, has the ability to prevent the buildup of dangerous compounds in the knee joint. The capacity of the knee joint to repair cartilage may be enhanced by hyaluronic acid. Hyaluronic acid may lessen joint inflammation, easing arthritis-related stiffness and pain.
Healthcare Infrastructure growth Installed base and rise in demand for the treatment procedures.
In the U.K. and France, osteoporosis affects more than 2.5 million women annually. Following a decision by the Haute Autorit? de Sant? (HAS), the Caisse Primaire d’Assurance Maladie will pay 70% of the cost of the scan (CPAM). Additionally, the Caisse Primaire d’Assurance Maladie has been advised to reimburse BONVIVA, a medication used to strengthen bones and given in the U.K., at a rate of 65%, according to Haute Autorit? de Sant? (HAS), the health authority (CPAM). The market is being driven by increasing consumer preference for quick turnaround times even if they are expensive and rising rates of target diseases like osteoarthritis.
Segments Overview:
The global viscosupplementation market is segmented into product type, application, material type, packaging type, and end user.
By Product Type,
? Single Injection
? Three Injection
? Five Injection
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The three injection segment held the highest market share of more than 40% in 2020.
By End User,
? Hospitals
? Orthopedic Clinics/ASCs
The hospitals segment held the largest market share of 79.8% during forecast period. On the contrary, the ASC segment is estimated tog row steadily. ACL surgery, hip, knee, and shoulder replacements, among other procedures, can be completed in an ASC on the same day. These operations are simpler and almost never necessitate hospitalisation. Additionally, the musculoskeletal system is the focus of orthopaedic clinics. This covers both surgical and nonsurgical issues with the spine, joints, bones, muscles, ligaments, and nerves. One of the main reasons anticipated to support the growth of this segment is the rising prevalence of osteoarthritis among the geriatric population.
Regional Overview
The global viscosupplementation market is expected to grow expansively during the forecast period due to the rising strategic expansions by the companies functioning in the industry. The market based on region, is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. The Asia Pacific market for viscosupplementation held the largest market share of more than 50% in 2020, with a revenue of USD 1,440.9 million. The regional market is also projected to hold the fastest CAGR of more than 4.8% during the anticipated period.
Competitive Landscape
The prominent players operating in the global viscosupplementation market include Sanofi, Anika Therapeutics, Inc., Seikagaku Corporation, Zimmer Biomet, SMITH & NEPHEW PLC, LG Chem, Lifecore, Ferring B.V., Fidia Farmaceutici S.p.A.,and others. The major nine players in the market hold approximately 50% of the total market share. These market players are investing in joint ventures, product launches, mergers, expansions. For instance, Hyalofast, a hyaluronic acid-based scaffold for cartilage repair, was introduced by Anika Therapeutics, Inc. in June 2019 at the International Cartilage Regeneration and Joint Preservation Society (ICRS).
The global viscosupplementation market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global viscosupplementation market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing of viscosupplementation
? Manufacturing Cost Analysis: Cost-share of various components in medical supply products, cost analysis, unit cost analysis
The global viscosupplementation market report answers questions such as:
? What is the market size and forecast of the global viscosupplementation market?
? What are the inhibiting factors and impact of covid-19 on the global viscosupplementation market during the assessment period?
? Which are the types/segments/applications/areas to invest in over the assessment period in the global viscosupplementation market?
? What is the competitive strategic window for opportunities in the global viscosupplementation market?
? What are the technology trends and regulatory frameworks in the global viscosupplementation market?
? What is the market share of the leading players in the global viscosupplementation market?
? What modes and strategic moves are considered favorable for entering the global viscosupplementation market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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