Viscosupplementation is a medical procedure used for the treatment of osteoarthritis symptoms. It is a non-invasive procedure under which lubricating fluid is injected into joints, which is also referred to as hyaluronic acid injections. It is intended to reduce joint pain and improves the condition of osteoarthritis joints, including knee, hip, ankle, shoulder, spine, wrist, and elbow. A significant rise in the prevalence of osteoarthritis has witnessed over the last decade. For instance, according to the Arthritis Foundation, an estimated 30.8 million adults in the US had osteoarthritis in 2015. It represents that osteoarthritis is the most common cause of disability among adults. These factors significantly increase the demand for the efficient procedure to treat osteoarthritis condition. This, in turn, is driving the adoption of viscosupplementation as it is one of the effective procedures to reduce joint pain and treatment of the condition.
Other factors that are encouraging the market growth include growing sports-related injuries, adoption of non-invasive procedures and increasing demand for knee osteoarthritis. Additionally, improving healthcare infrastructure and growing awareness about viscosupplementation is expected to offer a remarkable opportunity for the growth of the global viscosupplementation market. However, there are certain factors restricting the market growth comprising stringent regulations and adverse effects associated with viscosupplementation.
Furthermore, the global viscosupplementation market is segmented into application and products. Based on application, the market is classified into the knee, hip, ankle, shoulder, and spine. The demand for viscosupplementation in knee osteoarthritis is growing significantly due to its effectiveness to provide relief to the patients. Viscosupplementation for knee procedure is particularly useful for people who have not relieved from physical therapy, weight loss, and corticosteroid injections. Therefore, it is considered to be the most efficient method for the treatment of knee osteoarthritis which in turn is boosting the market. Based on the product, the market is classified into single-injection, three-injection, and five-injection.
On the basis of geography, the global viscosupplementation market is segmented into four major regions, including North America, Europe, Asia-Pacific, and Rest of the World. North America is gaining significant share in the global viscosupplementation market due to rising incidences of osteoarthritis in the US and Canada. Europe is also the major contributor to the market growth due to the high focus on providing patient-centered quality care in the region.
Some key companies of the global viscosupplementation market include Dr. Reddy’s Laboratories Ltd., Anika Therapeutics, Inc., LG Life Sciences Ltd., Smith & Nephew Plc. and Zimmer Biomet Holdings, Inc. These companies adopt various strategies such as mergers & acquisition and product launches to be competitive in the market. in addition, the companies are receiving approval by the regulatory authorities for the launch of their product. For instance, In October 2017, Anika Therapeutics, Inc. has gained approval for MONOVISC in Australia. It is a single-injection viscosupplementation used for the treatment of osteoarthritis pain of all synovial joints which include knee and hip. This intends to further expand the availability of MONOVISC in the global markets.
The market study of the global viscosupplementation market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, a country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary Sources Include:
- Financial reports of companies involved in the market
- Authentic Public Databases such as Centers for Disease Control and Prevention, Arthritis Foundation and others.
- Whitepapers, research-papers, and news blogs
- Company websites and their product catalog
The report is intended for healthcare providers and government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Global Viscosupplementation Market is segmented on the basis of regional outlook and following segments:
- Global Viscosupplementation Market Research and Analysis, By Application
- Global Viscosupplementation Market Research and Analysis, By Product
- Global Viscosupplementation Market Research and Analysis, By Region
The Report Covers:
- Comprehensive research methodology of global viscosupplementation market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global viscosupplementation market.
- Insights about market determinants which are stimulating the global viscosupplementation market