Viscosupplementation Market Trends

Growth Drivers

• Increasing Geriatric Population with Severe Arthritis–According to the World Health Organization (WHO), the global population of people over 60 is projected to increase by 1.4 billion by 2030 globally.
• Growing age brings lots of health issues in elderly people. One of the most common issues they face is
• bone and joint-related issues i.e., osteoarthritis, osteoporosis, and others that result in difficulty moving walking problems, and so on. A large number of elderly people become completely dependent on personal mobility devices owing to the difficulty of small transportation which further increases the expense of these devices. It is a well-known fact that joint movement becomes less flexible and stiffer as the person ages. The amount of lubricating fluid decreases over time in joints. Therefore, the growing prevalence of the geriatric population is leading to the demand for viscosupplementation treatment.
• Increasing Prevalence of Obesity - Obesity is anticipated to affect nearly 1 billion people worldwide by 2030. Obesity causes severe joint issues since joint pain is remarkably associated with body weight and being overweight increases the pressure on joints, especially on knees, which can break down the cartilage.
• Spike in Autoimmune Diseases to Boost the Market Growth – For instance, by the end of 2021, autoimmune diseases affected approximately 24 million individuals in the United States.
• Growing Healthcare Investment Across the Globe – 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. Growth in the per capita income increases the spending capacity of the population, especially on health issues, where people are becoming more aware of receiving proper treatment in time.

Challenges

• High Cost of Viscosupplementation Treatment – Viscosupplementation treatment requires a lot of high-definition equipment and technology. Additionally, the cost of HA injection is also very high and this may affect the trend and awareness of viscosupplementation in common people negatively. As a result, the cost of this treatment is expected to hamper the growth of viscosupplementation market over the forecast period. 
• Associated side effects Such as Site Pain and Swelling
• Lack of Technical Proficiency and Awareness