Viscosupplementation Market will Reach a Valuation of over US$ 4 Billion towards 2030-end: FMI

Global viscosuppplementation revenues are likely to reach USD 4 billion by the end of 2030, according to a new research by ESOMAR-certified firm Future Market Insights.

According to the study, a number of broader, and industry-specific factors will drive growth in this market, which has been relatively less impacted by the sluggishness induced by COVID-19.

As per the UN, by 2050, those aged 60 and above will account for over 20% of the global population. In other words, the UN says that by 2050 around 130 Mn people will contract osteoarthritis. These numbers point towards growth in the viscosupplementation market in the forecast period.

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Covid-19 Pandemic: Viscosuppplementation Market Players Consolidating their Position

The ongoing Covid-19 pandemic has compelled the market players to take a consistent path for the next two quarters. As it would take some time for the healthcare vertical to look through new product launches; the players are looking at ways to smoothen the supply chain as manpower has taken a hit.

Continuous innovations are expected to propel the growth of viscosupplementation market” says the FMI analyst

Key Takeaways of Viscosupplementation Market Study   

Three injection viscosuppplementation is expected to contribute for more than 55% of revenue share
Knee osteoarthritis is expected to gain around one-third of market share during the forecast period
North America is the highest revenue generating market due to scientific advancements and high adoption of viscosuppplementation

New Product Development to be the Torchbearer

The market players are into the innovation mode to strengthen their foothold in the viscosupplementation market. This competitive landscape is all set to create ripples all across the market. Some of the innovations are:

Fidia Pharma USA Inc., in 2019, introduced a HA (Hyaluronic Acid) based intra-articular viscosupplement called “TRILURON” to treat knee osteoarthritis. The treatments cycle involves 3 injections at weekly intervals.
Japan-based Seikagaku Corporation, in Mar 2019, launched an intra-articular single-injection viscosupplement called “HyLink” in Italy for treating knee osteoarthritis.
Recently, Gel-One Hyaluronate was approved as one of the injectable gels to treat osteoarthritis of knee. The pre-market clinical study reported no pseudosepsis (severe acute inflammatory responses).

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Leading Players in Viscosupplementation Market

The viscosupplementation market is witnessing the entry of innovative products and their expansion to the other geographies. For instance – “CINGAL’, a patented product from Anika Therapeutics, announced positive results for its Phase III trial and is planning to make it available in Hungary, Czech Republic, Italy, Poland, and Germany. The major players in viscosupplementation market are:

Americas

Zimmer Biomet Holdings Inc.
Bioventus LLC
Anika Therapeutics Inc.
OrthogenRx Inc.
Mylan N.V.

Europe

Sanofi S.A.
Fidia Farmaceutici S.p.A.
Ferring B.V.

Asia Pacific

Seikagaku Corporation
Chugai Pharmaceutical Co., Ltd.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

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Want more insights?

Viscosupplementation market, a new study from Future Market Insights, opines on the viscosupplementation from 2015 – 2019 and presents demand projections from 2020 – 2030 on the basis of; product types (single injection viscosupplementation, three injection viscosupplementation, and five injection viscosupplementation), application (knee osteoarthritis, hip osteoarthritis, shoulder osteoarthritis, and others such as elbow and ankle joint osteoarthritis), and end user (hospitals, ambulatory surgical centers, orthopedic clinics, retail pharmacies, and online sales) across seven prominent regions.

Viscosupplementation Market: Segmentation

The global viscosupplementation market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Product Type

Single Injection Viscosupplementation
Three Injection Viscosupplementation
Five Injection Viscosupplementation

Application

Knee Oseteoarthritis
Hip  Oseteoarthritis
Shoulder Oseteoarthritis
Others

End User

Hospitals
Ambulatory Surgical Centers
Orthopedic Clinics
Retail Pharmacies
Online Sales

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Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa (MEA)

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About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.