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HEALTHCARE & PHARMACEUTICAL

Viscosupplementation Market Analysis by Product (Single Injection, Three Injection, and Five Injection); by Application (Knee Osteoarthritis, Shoulder Osteoarthritis, Hip Osteoarthritis, and Others); by Source (Animal, and Non-Animal); and by End-User (Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Retail Pharmacies, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Chugai Pharmaceutical Co., Ltd. has obtained regulatory approval from the Ministry of Health, Labor and Welfare (MHLW) for its osteoporosis treatment Edirol Tablets 0.5 g/0.75 g (generic name: eldecalcitol, hereafter, Edirol Tablet), a vitamin D3 derivative developed by Chugai based on long-standing research into vitamin D.
  • Seikagaku Corporation launched HyLink, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis in Taiwan, through TCM Biotech International Corp. The main ingredient of HyLink is a cross-linked hyaluronate hydrogel derived from Seikagaku's crosslinking technology.

Global Viscosupplementation Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~9%

Base Year Market Size (2022)

 ~ USD 2 Billion

The global viscosupplementation market is estimated to garner a significant revenue by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 2 Billion in the year 2022. The growth of the market is primarily attributed to the escalating prevalence of osteoarthritis across the globe. For instance, in 2019, there were approximately 526.90 million osteoarthritis (OA) occurrences worldwide.

Viscosupplementation-Market-Size

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Viscosupplementation is a non-surgical treatment for knee arthritis that is considered safe. It is more efficient in the treatment of people with early arthritis. A gel-like substance (hyaluronic acid) is infused into the knee joint during viscosupplementation. Hyaluronic acid is a naturally occurring chemical that is found in the synovial fluid that surrounds joints. It lubricates joints, allowing bones to move flexibly and reducing discomfort. Osteoarthritis patients have lower levels of hyaluronic acid in their joints, which causes pain. Therefore, a proper infusion of hyaluronic acid delivers optimum results in elasticity of knee cartilage. It was observed in a clinical research that, hyaluronic acid (HA) is a widely known high molecular weight natural glycosaminoglycan consisting of repeating units of D-glucuronic acid and N-acetylglucosamine disaccharide linked by biopolymer B-(1-4) and B-(1-3) glycosides. HA promotes cartilage matrix synthesis and improve cartilage elasticity and humidity. It also prevents chondrocyte apoptosis and increase proteoglycan synthesis. As a result, HA is essential for avoiding cartilage erosion and reducing synovial inflammation. In OA patients, the rate of depolymerization and clearance of endogenous HA in joints is higher than normal, which lessens not only the density and molecular weight of HA but also the elastic viscosity of synovial fluid.

Global Viscosupplementation Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Geriatric Population – Growing age brings lots of health issues in elderly people. One of the most common issue they face is bone and joints related issues i.e., osteoarthritis, osteoporosis, and others that results in difficulty to move, walking problems and so on. Therefore, growing prevalence of geriatric population is leading the demand for viscosupplementation treatment. According to the World Health Organization (WHO), the global population of people over 60 is projected to increase 1.4 billion by 2030.
  • Increasing Prevalence of Obesity - Obesity is anticipated to affect nearly 1 billion people worldwide by 2030.
  • Spike in Autoimmune Diseases – For instance, by the end of 2021, autoimmune diseases were affected approximately 24 million individuals in the United States.
  • Growing Healthcare Investment and upsurge in Acquisitions – As per the World Economic Forum, worldwide, USD 44 billion was raised in health innovation in 2021 on its own – twice as often as in 2020 – and merger and acquisition of health and health tech companies improved by 50%.
  • Growing Per Capita Income – According to the World Bank, in 2021, global annual per capita income increased by 4.8%, compared to 1.5% in 2019.

Challenges

  • High Cost of Viscosupplementation Treatment
  • Associated side effects Such as Site Pain, Swelling
  • Lack of Technical Proficiency

The global viscosupplementation market is segmented and analyzed for demand and supply by application into knee osteoarthritis, shoulder osteoarthritis, hip osteoarthritis, and others. Out of these, knee osteoarthritis segment is projected to significantly grow over the forecast period on the back of notably growing prevalence of knee osteoarthritis in people across the globe. It was observed that, in 2019, knee osteoarthritis accounted for approximately 60.6% over all prevalent cases.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Viscosupplementation Market Regional Synopsis

Regionally, the global viscosupplementation market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the rapidly increasing geriatric population, escalating preference for short treatment schedules, and growing occurrence of osteoarthritis in the region. According to the data released by the Centers for disease Control and Prevention, by 2020, more than 32.5 million adults in the United States had osteoarthritis.

Viscosupplementation-Market

The global viscosupplementation market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global viscosupplementation market includes the following segments:

By Product

  • Single Injection
  • Three Injection
  • Five Injection

By Application

  • Knee Osteoarthritis
  • Shoulder Osteoarthritis
  • Hip Osteoarthritis
  • Others

By Source

  • Animal
  • Non-Animal

By End-User

  • Hospitals
  • Ambulatory Surgical Centers
  • Orthopedic Clinics
  • Retail Pharmacies
  • Others

Top Featured Companies Dominating the Global Viscosupplementation Market

  • Sanofi-aventis Groupe
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Anika Therapeutics, Inc.
  • Seikagaku Corporation
  • Smith & Nephew plc
  • Lifecore Biomedical LLC
  • LG Chem Life Sciences Innovation Center, Inc.
  • Fidia Farmaceutici S.p.A.
  • F. Hoffmann-La Roche Ltd
  • Chugai Pharmaceutical Co., Ltd.
  • OrthogenRx, Inc.

 

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