Global Viscosupplementation Market Grows Steadily at a CAGR of 8.96%

Introduction

Patients suffering from osteoarthritis of the hip, knee, ankle, or spine may benefit from viscosupplementation. The procedure is also effective for treating other forms of joint pain. In most instances, the initial treatment involves administering a local anesthetic injection around the knee joint. This procedure will remove any excess fluid, preventing joint edema. After some time, hyaluronic acid will be injected into the region within the joint.

Consequently, the synovial fluid that normally lubricates the joint progressively loses effectiveness. The fluid softens the joints and reduces friction in the system by acting as a lubricant. It has the consistency of a viscous substance. The dense, gel-like consistency of the liquid causes this effect. Patients with osteoarthritis have significantly reduced levels of hyaluronic acid in their joints compared to healthy individuals. Their stiffness, edema, and discomfort all contribute to their anguish. Even after injecting hyaluronic acid into a joint, the patient may experience discomfort. After completing the prescribed course of medication, patients may experience less pain.

Market Dynamics

New Product Development Drives the Global Market

An increase in the number of new product launches is anticipated to be one of the primary factors driving market growth over the forecast period. This essential component is anticipated to be one of the primary market growth drivers. One of the key indicators of the soaring demand for viscosupplements is the increasing number of companies investing in the research and development of new products. This is one of the primary indicators of the explosive development of the viscosupplement market.

The rising prevalence of osteoarthritis among older adults is one of the factors that is expected to increase demand for these products. Several factors will contribute to the increased acceptability of the items. A second factor to consider is the accumulating corpus of knowledge about these objects. An additional factor contributing to the increase in market investments is the expansion of commercial alliances between major industry participants. This factor contributes to the growth of market investments.

Safety and Efficacy of Hyaluronic Acid Injected into Joints Creates Tremendous Opportunities

Injections of hyaluronic acid, also called viscosupplementation, can be utilized in various methods to treat knee osteoarthritis. They are extracted from bacteria, poultry, or rooster feathers and injected directly into the joint. Chicken combs are the most prevalent source. The Food and Drug Administration has authorized intra-articular hyaluronic acid to treat knee osteoarthritis (O.A.). Intra-articular injection of hyaluronic acid (IAHA) provides symptomatic relief without the risk of systemic adverse effects associated with intra-articular corticosteroid injections. Numerous RCTs and meta-analyses have been conducted to assess the effectiveness and safety of IAHA.

Nevertheless, the results and conclusions have been inconsistent. It has been established that IAHA benefits pain perception and joint function. Evidence suggests that multiple courses of IAHA can influence long-term outcomes, such as reducing the use of concomitant analgesics and delaying the need for total knee replacement surgery.

Regional Analysis

Asia-Pacific is the most significant global Viscosupplementation Market shareholder and is estimated to exhibit a CAGR of 9.48% over the forecast period. The rapid economic expansion that has been observed in developing nations like China, Japan, and South Korea, as well as India, has resulted in the upgrading of medical facilities in these countries, which has resulted in the Asia-Pacific area being anticipated as the market with the most potential to be profitable. In contrast to its cousin, the multiple-injection therapy cycle has shown better demand in Asia. This can be explained by the fact that it has more than one injection every treatment cycle. This is because people in this region have a larger need for goods that are available at lower prices.

Europe is anticipated to exhibit a CAGR of 10.39% over the forecast period. The region's market development slowed slightly due to ongoing economic turmoil and intensifying market competition. With the introduction of single-injection remedies, the market is anticipated to recover. The European market for viscosupplements is anticipated to experience a significant transition from multiple-injection cycle products to single-injection treatments due to the latter's greater convenience. Due to the greater relative cost-benefit offered by single-injection treatments over the forecast period, the three-injection treatment segment is also anticipated to lose a portion of its market share to single-injection treatments.

Additionally, numerous regional organizations are working to reduce the prevalence of osteoarthritis and osteoporosis. The European Society for Clinical and Economic Aspects of Osteoporosis and Osteoarthritis (ESCEO) provides efficient practitioners with the most recent economic and clinical information and serves as a forum for interaction among clinical scientists concerned with bone and muscle disorders, the pharmaceutical industry developing newer compounds in this field, responsible regulators for the registration of such drugs, health policymakers, and others.

Key Highlights

• The global viscosupplementation market was valued at USD 4,538.67 million in 2022. It is estimated to reach USD 9,824.99 million by 2031, growing at a CAGR of 8.96% during the forecast period (2023–2031).
• Based on the product, the global viscosupplementation market is bifurcated into single, three, and five injections. The three-injectionsegment dominates the global market and is projected to exhibit a CAGR of 8.55% over the forecast period.
• Based on end-users, the global viscosupplementation market is divided into hospitals, orthopedic clinics/and ambulatory surgical centers (ASCs). The orthopedic clinics/ambulatory surgical centers (ASCs)segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 9.95% over the forecast period.
• Asia-Pacific is the most significant global viscosupplementation Market shareholder and is estimated to exhibit a CAGR of 9.48% over the forecast period.

Competitive Players

Competitive Players

The key players in the global viscosupplementation market are Anika Therapeutics, Inc., Bioventus LLC, Ferring Pharmaceuticals, Fidia Farmaceutici s.p.a., Sanofi SA, Johnson & Johnson Services, Inc., Zimmer Biomet, Wellchem Pharmaceuticals Pte Ltd., and OrthogenRx Inc.

Recent Developments

Market News

• In April 2022, Juniper Biologics signed a licensing deal with Kolon Life Sciences to develop and commercialize TissueGene-C low dose (TG-C LD), non-surgical investigational therapy administered as a single intra-articular injection, to treat knee osteoarthritis. Under the licensing deal, Juniper will develop and market gene therapy to medical professionals and hospitals in Asia-Pacific, the Middle East, and Africa.
• In April 2022, Juniper Biologics signed a licensing deal with Kolon Life Sciences to develop and commercialize TissueGene-C low dose (TG-C LD), non-surgical investigational therapy administered as a single intra-articular injection, to treat knee osteoarthritis. Under the licensing deal, Juniper will develop and market gene therapy to medical professionals and hospitals in Asia-Pacific, the Middle East, and Africa.

Segmentation

Global Viscosupplementation Market: Segmentation

By Product

• Single Injection
• Three Injection
• Five Injection

By End-User

• Hospitals
• Orthopaedic Clinics/Ambulatory Surgical Centers (ASCs)

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa