Viscosupplementation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Viscosupplementation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Viscosupplementation market studied is anticipated to grow with a CAGR of nearly 5.8%, during the forecast period.

Key Highlights

• Certain factors that are driving the market growth include rising patient pool suffering from osteoarthritis, along with the introduction of advanced and combination products.
• Osteoarthritis refers to the inflammation of a joint. When joints are inflamed they can develop stiffness, warmth, swelling, redness, and pain. There are over 100 types of arthritis, namely osteoarthritis, rheumatoid arthritis, ankylosing spondylitis, psoriatic arthritis, lupus, gout, pseudogout. Rheumatoid arthritis is an autoimmune disorder that causes pain and inflammation in the joints of the body. Rheumatoid arthritis disease mostly affects the joints of the hand, wrists, elbows, knees, and ankles. Results of the Global Burden of Diseases, Injuries, and Risk Factors (GBD) 2017 study indicated that there were 19,965,115 globally prevalent cases of RA in 2017 (95% uncertainty interval [UI], 17,990,489-21,995,673 cases), with an age-standardized prevalence rate of 246.6 cases/100,000 population, which increased by 7.4% between 1990 and 2017. The rising prevalence of osteoarthritis is expected to fuel the market growth over the forecast period.

Key Market TrendsAmbulatory Surgical Centers show Lucrative Opportunity in the Global Viscosupplementation Market

• Ambulatory surgical center means a facility, located in or apart from a hospital, that provides, under the direction of a licensed physician, either diagnosis or treatment, or both, to ambulatory patients in need of medical, surgical, or mental care.
• Throughout the past few decades, the treatment of various chronic diseases has been increasingly prioritized by the global health community or governments even in low- and middle-income countries. As a result, the demand for proper treatment and cure has risen significantly, in order to address the global osteoarthritis burden, thus leading to a rise in the utilization and adoption of Viscosupplementation.
• Over the past few years, with the move to value-based care, hospitals and healthcare systems are facing extreme competition from outpatient service sites, particularly those which offer physician office-based procedures, and ambulatory surgery. Gaining in popularity across the globe, outpatient facilities provide both operational and economic efficiencies, enabling ease of patient access, very competitive pricing, and increased opportunities for physician engagement. Hence, owing to all the aforementioned factors, the studied market is expected to increase in the future.
• Additionally, the rising geriatric population around the world will also boost the growth of the studied segment over the forecast period as geriatric population is prone to many musculoskeletal diseases including osteoarthritis. For instance, as per the research study titled The Prevalence of Symptomatic Knee Osteoarthritis in Relation to Age, Sex, Area, Region, and Body Mass Index in China: A Systematic Review and Meta-Analysis, published in July 2020, the prevalence rates of symptomatic knee osteoarthritis increased with age and presented an almost linear growth after 40 years of age.

Asia-Pacific is expected to Witness High Growth Rate in the Global Viscosupplementation Market

• The Asia-Pacific market is anticipated to witness high growth during the forecast period, due to increasing healthcare expenditure. Additionally, the low cost of manufacturing in China and India has resulted in the rise in the production facilities, attracting pharmaceutical and biotechnological giants to the Asia-Pacific region from across the world.
• The increase in the incidence of rheumatoid arthritis disease is also expected to propel the market growth in the region during the forecast period. For example, according to the Institute for Health Metrics and Evaluation, the number of cases of rheumatoid arthritis has increased from 183,272 in 2007 to 263,365 in 2017 only in India. Therefore, analyzing the number of cases in other major countries of the Asia Pacific region, the healthcare activities in relation to the treatment of rheumatoid arthritis will propel the growth of the market.

Competitive Landscape

The global Viscosupplementation market is competitive and consists of a few major players. Companies like Anika Therapeutics, Inc., Bioventus LLC, Chugai Pharmaceuticals Co., Ltd., Ferring Pharmaceuticals, Fidia Farmaceutici s.p.a., Mylan N.V., OrthogenRx Inc., Sanofi SA, Seikagaku Corporation., among others, hold the substantial market share in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Anika Therapeutics, Inc.
Bioventus LLC
Chugai Pharmaceuticals Co., Ltd. (Roche)
Ferring Pharmaceuticals
Fidia Farmaceutici s.p.a.
Mylan N.V.
OrthogenRx Inc.
Sanofi SA
Seikagaku Corporation

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.