Report Ocean published the latest research report on the Viscosupplementation Market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Viscosupplementation Market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, and growth rate.
Global Viscosupplementation Market Overview
The global viscosupplementation market recorded revenue of approximately US$ 4.8 billion in 2022, with estimations projecting growth to US$ 10.9 billion by 2031. The market is poised to witness a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period from 2023 to 2031.
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Viscosupplementation: Minimally Invasive Osteoarthritis Treatment
Viscosupplementation stands as a minimally invasive treatment for osteoarthritis patients, involving the injection of hyaluronic acid into the knee joint. This naturally occurring lubricant in joint and eye fluids aids in reducing inflammation and pain associated with arthritic joints, particularly the knee.
Factors Influencing Market Growth
- Product Launches and Geriatric Population: The growth of the viscosupplementation market is propelled by an increase in product launches, a growing geriatric population, and a rise in osteoarthritis prevalence.
- Adoption of Minimally Invasive Surgeries: Increased adoption of minimally invasive surgeries and strategic initiatives like collaboration, acquisition, partnership, and agreements by viscosupplementation industry players are expected to contribute to market growth.
- Prevalence of Osteoarthritis: The surge in osteoarthritis prevalence leads to an increased demand for viscosupplementation, fostering market growth.
Impact of COVID-19 on the Market
The COVID-19 pandemic had a negative influence on the global viscosupplementation market. Non-emergency procedures, including viscosupplementation, faced postponements or cancellations during the pandemic, leading to a decline in market demand.
Regional Dynamics
- North America Dominance: In 2022, North America emerged as the dominant region in the global viscosupplementation market, attributed to increased product launches, approvals, and the significant presence of the viscosupplementation industry.
- Asia-Pacific Growth: Asia-Pacific is anticipated to register the fastest growth rate during the forecast period. Factors contributing to this growth include increased government expenditure on healthcare sector development and the expanding geriatric population.
Key Market Players
Leading companies contributing to the global viscosupplementation market include:
- Seikagaku Corporation
- Anika Therapeutics, Inc.
- APTISSEN S.A
- Avanos Medical, Inc.
- Bioventus
- Chugai Pharmaceutical Corp.
- Fidia Farmaceutici S.P.A
- Laboratoires VIVACY
- LG Life Sciences Ltd.
- Miravo Healthcare
- Neopharmed Gentili S.p.A.
- Sanofi
- SingHealth Group
- Smith & Nephew PLC
- Viatris
- Zimmer Biomet
- Other prominent key players
Market Segmentation
Type
- Single Injection Viscosupplementation
- Three Injection Viscosupplementation
- Five Injection Viscosupplementation
Application
- Knee Osteoarthritis
- Male
- Female
- Hip Osteoarthritis
- Hand Osteoarthritis
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Singapore, Rest Of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
REASION TO BUY
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Key Questions Market Research and Analysis Report
- What is the current market size, both in terms of value and volume?
- What is the historical growth rate of the market, and what are the projected growth rates for the future?
- Who are the major players in the market, and what is their market share?
- What are the market trends and dynamics influencing the industry?
- What are the key drivers of market growth?
- What are the challenges and barriers faced by market participants?
- What are the emerging opportunities in the market?
- What is the competitive landscape of the market?
- What are the consumer preferences, behaviors, and buying patterns within the market?
- What is the market segmentation, and how are different market segments performing?
- What are the pricing trends and strategies in the market?
- What are the distribution channels and their effectiveness in reaching the target audience?
- What are the regulatory and legal factors impacting the market?
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