The global viscosupplementation market is anticipated to grow at a CAGR of around 8.6%.
The rising global prevalence of knee osteoarthritis, the demand for minimally invasive procedures, and the growing geriatric population are some key factors that are projected to boost the viscosupplementation market during the forecast period. Furthermore, improved healthcare infrastructure and increased awareness about viscosupplementation are expected to provide significant growth to the global viscosupplementation market.
On the other hand, the global viscosupplementation market is projected to hinder by stringent government regulations and increasing insurance denials for viscosupplementation products.
However, due to the treatment effectiveness in providing relief to patients, the market for viscosupplementation in knee osteoarthritis is rapidly increasing. Patients who didn't recover from physical exercise, weight loss, or corticosteroid injections will benefit from viscosupplementation for knee procedures. As a result, this will be creating an opportunity for the growth of the market.
The global viscosupplementation market is segmented based on product and application. Based on product the market is segmented into single-injection, three-injection, and five-injection. Further on the basis of application, the market is classified into Knee, Hip, Ankle, and others.
Among product segments, the three-injection segment is projected to have significant growth in the global viscosupplementation market due to the availability of a large number of commercialized goods and a high rate of product adoption.
This injection supports treating osteoarthritis, a Knee arthritis is a common form of arthritis that affects many people. It is caused when the cartilage, the smooth lining that covers the bones in the joints, breaks down. This injection is suitable for people who did not get relief from nonsteroidal anti-inflammatory drugs or people who can't take drugs due to their side effects.
The global viscosupplementation market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to have a significant share in the global viscosupplementation market due to rising incidences of osteoarthritis in the US and Canada.
The growing demand for minimally invasive viscosupplementation procedures for the treatment of knee osteoarthritis is also responsible for the market growth in the region. Furthermore, the existence of advanced healthcare infrastructure, the presence of major key players, and the demand for viscosupplementation products are likely to propel the regional market.
Asia-Pacific is projected to have significant growth in the market during the forecast period. The growth is attributed to the upgrade of healthcare facilities and infrastructure in emerging economies such as China, South Korea, and India.
Furthermore, factors such as increased awareness of the effectiveness of viscosupplementation and demand for non-surgical procedures are projected to propel market growth. Furthermore, the relatively low regulatory barriers in South Korea and other emerging countries are expected to draw industry players looking to establish a presence in these emerging markets.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3. Competitive Landscape
3.1. Key Company Analysis
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on key players
4. Market Determinants
5. Market Segmentation
5.1. Global Viscosupplementation Market by Product
5.2. Global Viscosupplementation Market by Application
5.2.4. Others(Shoulder, Spine)
6. Regional Analysis
6.1. North America
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Anika Therapeutics, Inc.
7.2. Ferring B.V.
7.3. Fidia Farmaceutici S.p.A
7.4. Johnson & Johnson Services, Inc.
7.5. KalVista Pharmaceuticals, Inc.
7.6. LG Chem (Life Sciences)
7.7. Lifecore Biomedical, LLC
7.8. Maxigen Biotech, Inc.
7.9. Pharmascience Inc.(PendoPharm)
7.10. Regen Lab SA
7.11. Sanofi S.A.
7.12. Seikagaku Corp.
7.13. Shanghai Haohai Biological Technology Co., Ltd.
7.14. Smith & Nephew PLC
7.15. Stellar Pharmaceuticals, Inc.
7.16. Stryker Corp.
7.17. Swiss Biomed Orthopaedics AG
7.18. Virchow Biotech Pvt. Ltd.
7.19. Zimmer Biomet Holdings, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/r715ix
View source version on businesswire.com: https://www.businesswire.com/news/home/20210923005725/en/
Laura Wood, Senior Press Manager
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