Report Ocean has recently published a revised figures report on the worldwide Viscosupplementation market. Growth prospects and difficulties are noted in the paper. A tool for evaluating the potential for new goods and services is the constraints and opportunity analysis. This aids businesses in locating and forecasting market opportunities.
The global viscosupplementation market is estimated to reach USD 6.6 billion by 2026 growing at a CAGR of 8.2% during the forecast period, according to a new study published by Report Ocean. The report ‘Viscosupplementation Market By Product Type (Single injection, Three injection, Five injection), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
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It offers details on crucial market processes, such as leading participants. Changes in consumer behavioral patterns have temporarily hindered the market’s growth because the size of the Viscosupplementation market is still insufficient to predict precise dollar estimates. As a result, it will be essential to conduct a more thorough analysis of the market by considering other factors.
The study also contains a compilation of qualitative and quantitative evaluations made by subject-matter experts in their fields as well as representatives from various industries found all along the supply chain.
Over the forecast period, the size of the worldwide Viscosupplementation market will increase at a compound annual growth rate (2023-2032). The paper discusses further findings that researchers made based on the comprehensive data and also offers information on the state of the market. The paper discusses kinds and applications based on various nations and important locations. The market’s most active companies are described in detail with regard to attributes like corporate portfolio, business strategy, financial overview, recent developments, and industry share.
Due to growing geriatric population globally and due to increasing occurrences of osteo arthritis, injuries, gingivitis, & abscess, this market is anticipated to gain traction. According to assessment done by WHO, the population of people who are of the age of 65 g and above globally would increase significantly from 7% in the year 2000 and is estimated to grow to 16% by 2050. This significant growth in the elderly population would result in the increased problems of obesity and osteo arthritis, which would indirectly help this market to gain traction during the forecast period. Together with expanding choice for minimally intrusive surgical procedures, worldwide rise in the target populace is anticipated to substantially push the need for viscosupplements throughout the forecast duration.
Geographically, North America is estimated to be the largest viscosupplementation market in 2017. According to Centers for Condition Control as well as Avoidance (CDC) in 2015, over 30 million individuals in the United States experienced osteo arthritis and also around 10% individuals over 55 years endured knee discomfort. These growing numbers are pushing the market growth in this region. Asia Pacific on the other hand is anticipated to be the fastest growing market in 2017 and is estimated to preserve its placement throughout the projection period. This growth rate can be made up by the visibility of a considerable growing base of senior citizens, which is vulnerable to problems such as osteo arthritis as well as rheumatoid joint inflammation. Increasing demand for minimally intrusive treatments is a considerable element adding to the growth rate of Asia Pacific. The Latin American market is anticipated to expand at a rewarding pace in the coming years because of the visibility of high unmet clinical requirements, increasing disposable income and growing awareness among the patients in economies such Brazil and Mexico.
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Among the viscosupplementation products, three injection products are estimated to be the largest segment of the viscosupplementation market. Affordability and shorter therapy duration are some the major factors which are pushing the growth of this product segment. This is closely followed by the single injection.
Major companies operating in the market are focusing on incorporating modern technologies to make innovative viscosupplements. For instance, Anika Therapeutics introduced HYAFF, which aids in production of very efficient biocompatible viscosupplements. The FDA authorized hyaluronates presently offered in the viscosupplementation market are Hyalgan (Sanofi), Euflexxa (Ferring Pharmaceuticals, Inc.), Orthovisc (Anika Rehabs), Supartz, Gel-One (Seikagaku Company), Synvisc, Synvisc One (Genzyme) and also Durolane (Q MEDICATION ABDOMINAL). Some of the major players in this market include Seikagaku Corporation, Lifecore Biomedical, LLC, Zimmer Holdings Inc, Bioventus, Ferring B.V., Sanofi, Anika Therapeutics, Inc., and LG Life Sciences Ltd.
We continuously monitor the direct effects of COVID-19 (Update #Omicron mutations analysis) and the Russia-Ukraine War on the market, in addition to the indirect influence of related industries. The report will contain the observations.
The Russia-Ukraine War, which broke out in February 2022, had an effect on industries all across the world. Strict travel restrictions over Ukrainian airspace have been widely announced. The Russia-Ukraine War in 2022 has hurt the market. The war between Russia and Ukraine increases defense spending and strengthens the armed forces of NATO members. The majority of European countries have increased their defense spending as a result of Russia’s invasion. German defense spending will rise above 2% of GDP thanks to an allocation of USD 109 billion, which is more than the entire cost of the armed forces in 2021.
Report Ocean has segmented the global viscosupplementation market report on the basis of product type and region:
Viscosupplementation by Product Type Outlook
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Viscosupplementation by Regions Outlook
Middle East & Africa
Frequently Asked Questions (FAQs)
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