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Global Viscosupplementation Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

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    Report

  • 120 Pages
  • January 2023
  • Region: Global
  • Renub Research
  • ID: 5715848

Global Viscosupplementation market was US$ 3.71 Billion in 2022

Global Viscosupplementation Market is expected to reach US$ 6.27 Billion by 2028 according to the publisher. Patients with osteoarthritis have a minimally invasive therapeutic option called viscosupplementation. During viscosupplementation, hyaluronic acid is pushed into the joints. The synovial fluid that covers joints contains hyaluronic acid, a substance that occurs naturally. It lubricates joints to allow bones to move freely and lessen discomfort. Hyaluronic acid levels in the joints are lower in those with osteoarthritis, which causes pain. According to our research findings, Worldwide Viscosupplementation market was US$ 3.71 Billion in 2022.

Global Viscosupplementation Market will grow with 9.14% CAGR during the forecast period:

The increase in the incidence of osteoarthritis, the rise in the geriatric population, and the hike in the number of product launches and product approvals are the main factors driving the growth of the global viscosupplementation market size. One of the most prevalent types of arthritis is osteoarthritis. In 2019, the Centers for Disease Control and Prevention estimated that 32.5 million Americans (1 in 7 adults) had osteoarthritis. Due to an increase in chronic diseases like obesity, diabetes, and heart disease, the prevalence of osteoarthritis has reached alarming levels. Additionally, a lack of physical activity, such as exercise, increases the requirement for osteoarthritis treatment for the knee and hip and propels market expansion.

Single Injection Viscosupplementation holds the lion's share

By procedure, the Viscosupplementation market is divided into three segments, i.e., Single Injection Viscosupplementation, Three Injection Viscosupplementation, and Five Injections Viscosupplementation. Among all, Single Injection dominates the current viscosupplementation market. The demand for outpatient surgeries that offer same-day surgical care, including preventive (surgical) and diagnostic procedures, is driving the Single Injections Segment. Furthermore, an increase in product launches and focus on developing single injections for the treatment of osteoarthritis are expected to contribute to the significant growth of the single-injection market over the forecast period.

By Application: The Knee Osteoarthritis Segment dominates the Market Share

Due to the increased prevalence of knee osteoarthritis and the growing geriatric population, who are more vulnerable to knee osteoarthritis, the knee osteoarthritis segment dominated the Viscosupplementation market and is anticipated to maintain this trend over the projected period. In addition, the ageing effect, which reduces the amount of water in cartilage and further reduces its capacity to absorb shock and cushion, makes the elderly population more susceptible to developing knee osteoarthritis.

Orthopedic clinics/Ambulatory Surgical Centers Segment is growing at a Significant Growth Rate

By End users, the Viscosupplementation market is segmented into Hospitals and Orthopedic clinics/Ambulatory Surgical Centers. Outpatient service sites, particularly those that provide ambulatory surgery and physician office-based treatments, have grown into fierce competitors for hospitals due to the recent adoption of value-based care. Orthopedic clinics/Ambulatory Surgical Centers offer both practical and financial benefits, such as quicker patient access, more affordable prices, more opportunities for physician involvement, and outpatient facilities. Hence they acquire a dominant market share in the Viscosupplementation market.

By Region: North America and Asia Pacific holds a Significant Market Share

North America occupies a dominant position in the global viscosupplementation market. The factors contributing to the growth of viscosupplementation in the North American region are the increased prevalence of osteoarthritis and related ailments, the ageing population, the well-established healthcare system, and the rising desire for non-surgical procedures. Furthermore, Asia Pacific is expected to grow with a notable growth rate during the forecast period due to the increase in the geriatric population and rising healthcare expenditures.

Key Players Analysis

Anika Therapeutics Inc., Sanofi, Zimmer Biomet, Smith & Nephew PLC, Lifecore Biomedical, LG Life Sciences Ltd., F.Hoffmann-La Roche Ltd., and Chugai Pharmaceutical Co. are the leading companies in global viscosupplementation market. These companies are using a variety of business approaches, including collaboration, product launches, approvals, and collaborations, to maintain their market position.

Covid-19 Impact on Global Viscosupplementation Market

Viscosupplementation is a non-emergency procedure, hence during the COVID-19 epidemic, most procedures were canceled or delayed. As a result, it inhibited market expansion and lowered demand for viscosupplementation. Additionally, the industry suffered because older citizens - a demographic that was predominantly urged to stay at home to reduce the risk of infection consume the majority of viscosupplementation products. However, with the lessening of covid-19 restrictions, procedures were resumed, and patients started visiting hospitals, due to which the global viscosupplementation market gained its potential again.

The publisher's latest report “Global Viscosupplementation Market Forecast by Product (Single Injection Viscosupplementation, Three Injections Viscosupplementation and Five Injections Viscosupplementation), By Application (Knee Osteoarthritis, Hip Osteoarthritis, Hand/Wrist Osteoarthritis, Ankle/Foot Osteoarthritis and Others), by End User (Hospitals, Orthopedic Clinics/Ambulatory Surgical Centres), By Region (North America, Europe, Asia Pacific, ROW), Key Players Analysis (Anika Therapeutics Inc., Sanofi, Zimmer Biomet, Smith & Nephew PLC, Lifecore Biomedical, LG Life Sciences Ltd., F.Hoffmann-La Roche Ltd. and Chugai Pharmaceutical Co.)” provides a detailed analysis of Global Viscosupplementation Industry.

Product

1. Single Injection Viscosupplementation
2. Three Injections Viscosupplementation
3. Five Injections Viscosupplementation

Application

1. Knee Osteoarthritis
2. Hip Osteoarthritis
3. Hand/Wrist Osteoarthritis
4. Ankle/Foot Osteoarthritis
5. Others

End User

1. Hospitals
2. Orthopedic clinics/Ambulatory Surgical Centers

Region

1. North America
2. Europe
3. Asia Pacific
4. Rest of World

Key Players

1. Anika Therapeutics Inc.
2. Sanofi
3. Zimmer Biomet
4. Smith & Nephew PLC
5. Lifecore Biomedical
6. LG Life Sciences Ltd.
7. F.Hoffmann-La Roche Ltd.
8. Chugai Pharmaceutical Co.
Frequently Asked Questions about the Global Viscosupplementation Market

What is the estimated value of the Global Viscosupplementation Market?

The Global Viscosupplementation Market was estimated to be valued at $3.71 Billion in 2022.

What is the growth rate of the Global Viscosupplementation Market?

The growth rate of the Global Viscosupplementation Market is 9.1%, with an estimated value of $6.27 Billion by 2028.

What is the forecasted size of the Global Viscosupplementation Market?

The Global Viscosupplementation Market is estimated to be worth $6.27 Billion by 2028.

Who are the key companies in the Global Viscosupplementation Market?

Key companies in the Global Viscosupplementation Market include Anika Therapeutics Inc., Sanofi, Zimmer Biomet, Smith & Nephew PLC, Lifecore Biomedical, LG Life Sciences Ltd., F.Hoffmann and Chugai Pharmaceutical Co..

Table of Contents

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges

5. Global Viscosupplementation Market

6. Market Share - Global Viscosupplementation Analysis
6.1 By Product
6.2 Application
6.3 By End User
6.4 By Region

7. Product - Global Viscosupplementation Market
7.1 Single Injection Viscosupplementation
7.2 Three Injection Viscosupplementation
7.3 Five Injection Viscosupplementation

8. Application - Global Viscosupplementation Market
8.1 Knee Osteoarthritis
8.2 Hip Osteoarthritis
8.3 Hand/Wrist Osteoarthritis
8.4 Ankle/Foot Osteoarthritis
8.5 Others

9. End User - Global Viscosupplementation Market
9.1 Hospitals
9.2 Orthopedic Clinics/ Ambulatory Surgical Centers

10. Region - Global Viscosupplementation Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 Rest of World

11. Company Analysis
11.1 Anika Therapeutics Inc.
11.1.1 Company overview
11.1.2 Sales Analysis
11.1.3 Recent Development
11.2 Sanofi
11.2.1 Company overview
11.2.2 Sales Analysis
11.2.3 Recent Development
11.3 Zimmer Biomet
11.3.1 Company overview
11.3.2 Sales Analysis
11.3.3 Recent Development
11.4 Smith & Nephew PLC
11.4.1 Company overview
11.4.2 Sales Analysis
11.4.3 Recent Development
11.5 Lifecore Biomedical
11.5.1 Company overview
11.5.2 Sales Analysis
11.5.3 Recent Development
11.6 LG Life Sciences Ltd.
11.6.1 Company overview
11.6.2 Sales Analysis
11.6.3 Recent Development
11.7 F.Hoffmann-La Roche Ltd.
11.7.1 Company overview
11.7.2 Sales Analysis
11.7.3 Recent Development
11.8 Chugai Pharmaceutical Co.
11.8.1 Company overview
11.8.2 Sales Analysis
11.8.3 Recent Development

List of Figures:
Figure 01: Global - Viscosupplementation Market (Billion US$), 2018 - 2022
Figure 02: Global - Forecast for Viscosupplementation Market (Billion US$), 2023 - 2028
Figure 03: Product - Single Injection Viscosupplementation Market (Million US$), 2018 - 2022
Figure 04: Product - Forecast for Single Injection Viscosupplementation Market (Million US$), 2023 - 2028
Figure 05: Product - Three Injection Viscosupplementation Market (Million US$), 2018 - 2022
Figure 06: Product - Forecast for Three Injection Viscosupplementation Market (Million US$), 2023 - 2028
Figure 07: Product - Five Injection Viscosupplementation Market (Million US$), 2018 - 2022
Figure 08: Product - Forecast for Five Injection Viscosupplementation Market (Million US$), 2023 - 2028
Figure 09: Application - Knee Osteoarthritis Market (Million US$), 2018 - 2022
Figure 10: Application - Forecast for Knee Osteoarthritis Market (Million US$), 2023 - 2028
Figure 11: Application - Hip Osteoarthritis Market (Million US$), 2018 - 2022
Figure 12: Application - Forecast for Hip Osteoarthritis Market (Million US$), 2023 - 2028
Figure 13: Application - Hand/Wrist Osteoarthritis Market (Million US$), 2018 - 2022
Figure 14: Application - Forecast for Hand/Wrist Osteoarthritis Market (Million US$), 2023 - 2028
Figure 15: Application - Ankle/Foot Osteoarthritis Market (Million US$), 2018 - 2022
Figure 16: Application - Forecast for Ankle/Foot Osteoarthritis Market (Million US$), 2023 - 2028
Figure 17: Application - Others Market (Million US$), 2018 - 2022
Figure 18: Application - Forecast for Others Market (Million US$), 2023 - 2028
Figure 19: End User - Hospitals Market (Million US$), 2018 - 2022
Figure 20: End User - Forecast for Hospitals Market (Million US$), 2023 - 2028
Figure 21: End User - Orthopedic Clinics/ Ambulatory Surgical Centers Market (Million US$), 2018 - 2022
Figure 22: End User - Forecast for Orthopedic Clinics/ Ambulatory Surgical Centers Market (Million US$), 2023 - 2028
Figure 23: North America - Market (Million US$), 2018 - 2022
Figure 24: North America - Forecast for Market (Million US$), 2023 - 2028
Figure 25: Europe - Market (Million US$), 2018 - 2022
Figure 26: Europe - Forecast for Market (Million US$), 2023 - 2028
Figure 27: Asia Pacific - Market (Million US$), 2018 - 2022
Figure 28: Asia Pacific - Forecast for Market (Million US$), 2023 - 2028
Figure 29: Rest of World - Market (Million US$), 2018 - 2022
Figure 30: Rest of World - Forecast for Market (Million US$), 2023 - 2028
Figure 31: Anika Therapeutics Inc. - Global Revenue (Million US$), 2018 - 2022
Figure 32: Anika Therapeutics Inc. - Forecast for Global Revenue (Million US$), 2023 - 2028
Figure 33: Sanofi - Global Revenue (Billion US$), 2018 - 2022
Figure 34: Sanofi - Forecast for Global Revenue (Billion US$), 2023 - 2028
Figure 35: Zimmer Biomet - Global Revenue (Billion US$), 2018 - 2022
Figure 36: Zimmer Biomet - Forecast for Global Revenue (Billion US$), 2023 - 2028
Figure 37: Smith & Nephew PLC - Global Revenue (Billion US$), 2018 - 2022
Figure 38: Smith & Nephew PLC - Forecast for Global Revenue (Billion US$), 2023 - 2028
Figure 39: Lifecore Biomedical - Global Revenue (Billion US$), 2018 - 2022
Figure 40: Lifecore Biomedical - Forecast for Global Revenue (Billion US$), 2023 - 2028
Figure 41: LG Life Sciences Ltd. - Global Revenue (Billion US$), 2018 - 2022
Figure 42: LG Life Sciences Ltd. - Forecast for Global Revenue (Billion US$), 2023 - 2028
Figure 43: F.Hoffmann-La Roche Ltd. - Global Revenue (Million US$), 2018 - 2022
Figure 44: F.Hoffmann-La Roche Ltd. - Forecast for Global Revenue (Million US$), 2023 - 2028
Figure 45: Chugai Pharmaceutical Co. - Global Revenue (Billion US$), 2018 - 2022
Figure 46: Chugai Pharmaceutical Co. - Forecast for Global Revenue (Billion US$), 2023 - 2028

List of Tables:
Table 01: Global - Viscosupplementation Market Share by Product (Percent), 2018 - 2022
Table 02: Global - Forecast for Viscosupplementation Market Share by Product (Percent), 2023 - 2028
Table 03: Global - Viscosupplementation Market Share by Application (Percent), 2018 - 2022
Table 04: Global - Forecast for Viscosupplementation Market Share by Application (Percent), 2023 - 2028
Table 05: Global - Viscosupplementation Market Share by End User (Percent), 2018 - 2022
Table 06: Global - Forecast for Viscosupplementation Market Share by End User (Percent), 2023 - 2028
Table 07: Global - Viscosupplementation Market Share by Region (Percent), 2018 - 2022
Table 08: Global - Forecast for Viscosupplementation Market Share by Regio (Percent), 2023 - 2028

Companies Mentioned

  • Anika Therapeutics Inc.
  • Sanofi
  • Zimmer Biomet
  • Smith & Nephew PLC
  • Lifecore Biomedical
  • LG Life Sciences Ltd.
  • F.Hoffmann-La Roche Ltd.
  • Chugai Pharmaceutical Co.

Methodology

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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