The global viscosupplementation market is estimated to reach USD 6.9 billion by 2026 growing at a
CAGR of 8.9% during the forecast period, according to a new study published by
Polaris Market Research. The report ‘Viscosupplementation Market
Share, Size, Trends & Industry Analysis Report By Product Type (Single
injection, Three injection, Five injection); By Application (Knee
Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis); By Regions, Segment
Forecast, 2020 – 2026’ provides an extensive analysis
of present market dynamics and predicted future trends.
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.
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Geographically, North America is
estimated to be the largest viscosupplementation market in 2019.
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.
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.
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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.
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