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Viscosupplementation Market- Evolving Industry Trends and Insights 2016 - 2023
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Factors driving the growth of viscosupplementation market are increasing geriatric population, increasing demand for minimally invasive surgical procedures, high patient awareness about new drugs and devices for the treatment of osteoarthritis and rising obese population globally. However, lack of safety and inefficiency of the products might hamper the market growth. The product innovation and process development is an opportunity window for market players as safety and efficacy are the major concerns of viscosupplementation products. Thus, introduction of products that helps to overcome these concerns have an opportunity to enter and establish in the global viscosupplementation market.
The FDA approved hyaluronates currently available in the viscosupplementation market are Hyalgan (Sanofi), Euflexxa (Ferring Pharmaceuticals, Inc.), Orthovisc (Anika Therapeutics), Supartz and Gel-One (Seikagaku Corporation), and Synvisc, Synvisc One (Genzyme) and Durolane (Q MED AB).
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North America is the largest viscosupplementation market globally accounting for high product demand, high awareness in the region and acceptance of high priced products. Europe experienced an economic downturn that created problem in the hyaluronic acid products market as reimbursement policies turned out to be difficult but still the premium priced products were accepted in some of the countries. Although European market is expected to review and provide essential opportunity for viscosupplementation products as the economical conditions are reviving. Asia-Pacific and RoW observed to be the emerging markets for viscosupplementation and Asia-Pacific viscosupplementation market is especially driven by economic development, healthcare facility enhancements and high demand for minimally invasive surgeries.
Some of the key players of viscosupplementation market are Alcon, Inc., F. Hoffmann-La Roche Ltd., Allergan, Inc., Fidia Farmaceutici SpA, Anika Therapeutics, Inc., Ferring Pharmaceuticals, Inc., GALDERMA S.A., LifeCore Biomedical LLC, Hyaltech Ltd. and others.
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