Report Ocean has published a new report on the Viscosupplementation Market in diverse regions to produce a report with more than 250+ pages.
The global viscosupplementation market held a market value of USD 4,041 million in 2021 and is projected to reach USD 8,958.9 million by the year 2030. The market is projected to list a CAGR of 9.2% during the forecast period. Some of the reasons anticipated to propel the market include the rising need for non-surgical treatments for osteoarthritis, the prevalence of illnesses brought on by a sedentary lifestyle, and improvements in the creation of hyaluronic acid-based therapies.
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The market-available viscosupplements have been clinically demonstrated to be the most efficient treatment for knee osteoarthritis. Osteoarthritis is the most common chronic cause of disability and is a painful degenerative joint condition. The condition typically begins after the age of 30, and after 10 years of diagnosis, it may grow to become a disability.
Surging geriatric populations and prevalence of Osteoarthritis will drive the growth of the market
The rising geriatric population is driving the market growth. According to projections made by the WHO, the number of people 65 and older in the world is expected to climb from 7% in 2000 to 16% in 2050, which will subsequently cause an increase in the prevalence of obesity and osteoarthritis. Thus, it is anticipated that over the projection period, the demand for the product would develop significantly due to the global expansion in the target population and the growing preference for alternate treatment alternatives for corticosteroids for the management of joint pain.
Combination Therapy of Gel Injection and Knee Bracing Benefit Moderate-grade Knee Arthritis Patients
Hyaluronic acid is the active component in knee arthritis gel injections. Our bodies naturally manufacture hyaluronic acid. It is an essential part of the synovial fluid that lubricates many of our joints. Over time, the quality of hyaluronic acid in knees with osteoarthritis declines. Synovial fluid’s consistency is affected by low-quality hyaluronic acid, which lessens the fluid’s capacity for lubrication and shock absorption. Greater lubrication is the main advantage of hyaluronic acid injections into joints. There are, however, a number of additional ways in which it might enhance joint performance. An antioxidant, hyaluronic acid, has the ability to prevent the buildup of dangerous compounds in the knee joint. The capacity of the knee joint to repair cartilage may be enhanced by hyaluronic acid. Hyaluronic acid may lessen joint inflammation, easing arthritis-related stiffness and pain.
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Healthcare Infrastructure growth Installed base and rise in demand for the treatment procedures.
In the U.K. and France, osteoporosis affects more than 2.5 million women annually. Following a decision by the Haute Autorit de Sant (HAS), the Caisse Primaire d’Assurance Maladie will pay 70% of the cost of the scan (CPAM). Additionally, the Caisse Primaire d’Assurance Maladie has been advised to reimburse BONVIVA, a medication used to strengthen bones and given in the U.K., at a rate of 65%, according to Haute Autorit de Sant (HAS), the health authority (CPAM). The market is being driven by increasing consumer preference for quick turnaround times even if they are expensive and rising rates of target diseases like osteoarthritis.
The global viscosupplementation market is segmented into product type, application, material type, packaging type, and end user.
By Product Type,
The three injection segment held the highest market share of more than 40% in 2020.
By End User,
The hospitals segment held the largest market share of 79.8% during forecast period. On the contrary, the ASC segment is estimated tog row steadily. ACL surgery, hip, knee, and shoulder replacements, among other procedures, can be completed in an ASC on the same day. These operations are simpler and almost never necessitate hospitalisation. Additionally, the musculoskeletal system is the focus of orthopaedic clinics. This covers both surgical and nonsurgical issues with the spine, joints, bones, muscles, ligaments, and nerves. One of the main reasons anticipated to support the growth of this segment is the rising prevalence of osteoarthritis among the geriatric population.
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The global viscosupplementation market is expected to grow expansively during the forecast period due to the rising strategic expansions by the companies functioning in the industry. The market based on region, is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. The Asia Pacific market for viscosupplementation held the largest market share of more than 50% in 2020, with a revenue of USD 1,440.9 million. The regional market is also projected to hold the fastest CAGR of more than 4.8% during the anticipated period.
The prominent players operating in the global viscosupplementation market include Sanofi, Anika Therapeutics, Inc., Seikagaku Corporation, Zimmer Biomet, SMITH & NEPHEW PLC, LG Chem, Lifecore, Ferring B.V., Fidia Farmaceutici S.p.A.,and others. The major nine players in the market hold approximately 50% of the total market share. These market players are investing in joint ventures, product launches, mergers, expansions. For instance, Hyalofast, a hyaluronic acid-based scaffold for cartilage repair, was introduced by Anika Therapeutics, Inc. in June 2019 at the International Cartilage Regeneration and Joint Preservation Society (ICRS).
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
The global viscosupplementation market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global viscosupplementation market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
Pricing Analysis: Pricing analysis of various components used in the manufacturing of viscosupplementation
Manufacturing Cost Analysis: Cost-share of various components in medical supply products, cost analysis, unit cost analysis
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The global viscosupplementation market report answers questions such as:
What is the market size and forecast of the global viscosupplementation market
What are the inhibiting factors and impact of covid-19 on the global viscosupplementation market during the assessment period
Which are the types/segments/applications/areas to invest in over the assessment period in the global viscosupplementation market
What is the competitive strategic window for opportunities in the global viscosupplementation market
What are the technology trends and regulatory frameworks in the global viscosupplementation market
What is the market share of the leading players in the global viscosupplementation market
What modes and strategic moves are considered favorable for entering the global viscosupplementation market
Key Metrics Explored in Report Ocean Research Service:
Market Size: Quantifying the total value or volume of the market to provide a comprehensive understanding of its scale and potential.
Market Growth Rate: Measuring the rate at which the market is growing over specific periods to assess attractiveness and potential for investment.
Market Share: Analyzing the portion or percentage of the market captured by specific companies or products, providing insights into competitive positions.
Customer Satisfaction: Assessing levels of satisfaction or dissatisfaction among customers with a focus on products, services, or brands. This aids in gauging customer loyalty and identifying areas for improvement.
Pricing Analysis: Examining pricing strategies, including average prices, price differentials, and price elasticity, to understand market dynamics.
Market Segmentation: Dividing the market into distinct segments based on demographics, geography, behavior, or psychographics to understand varying needs and preferences.
Customer Acquisition Cost (CAC): Calculating the cost of acquiring a new customer to evaluate the efficiency of marketing and sales efforts.
Customer Lifetime Value (CLV): Measuring the total value a customer generates over their entire relationship with a company to assess long-term profitability.
Return on Investment (ROI): Evaluating the profitability and effectiveness of investments or marketing campaigns by measuring returns relative to costs.
Competitive Analysis: Assessing the performance and strategies of competitors, including market share, revenue growth, product portfolio, and customer satisfaction.
Key Performance Indicators (KPIs): Utilizing specific metrics to measure business or organizational performance, such as sales growth, market penetration, customer retention rate, and profitability.
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