The global viscosupplementation market size is expected to reach USD 7.8 billion by 2027, based on a new report published by Grand View Research, Inc. It is anticipated to exhibit a CAGR of 9.2% during the forecast period. Improving regulatory and reimbursement scenarios regarding the use of viscosupplements for the treatment of Osteoarthritis (OA) is expected to aid the growth. For instance, in U.S., unique reimbursement codes are allocated for different products available in the country.
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Viscosupplementation procedure is an effective alternative for patients nonresponsive to other treatment options for osteoarthritis. These products have been clinically proven to be effective in providing long-term relief to OA patients with very few side-effects. Factors, such as the growing awareness regarding effective non-surgical procedures for the management of OA and global increase in the target population due to the increasing prevalence of obesity and other lifestyle-induced disorders, are expected to propel the market growth during the forecast period.
Viscosupplementation Market Report Highlights
• Three injections segment dominated the market in 2019 owing to the availability of multiple products and significant market presence
• Single injection segment is anticipated to witness the fastest growth during the forecast period owing to the increase in demand for a shorter regimen of procedures and faster recovery time
• The utilization of viscosupplementation is maximum in Ambulatory Surgical Centers (ASCs), and orthopedic clinics. The higher usage of the viscosupplements is observed to be in outpatient settings owing to better reimbursement options
• General physicians, rheumatologists, and orthopedists are the main influencer in the viscosupplementation market. The role of an influencer in the procurement of the product in the hospitals and clinics varies from region to region
• Asia Pacific held the largest market share in 2019 and is expected to maintain its position during the forecast period due to the presence of key players and high incidence of osteoarthritis in the countries such as Japan and China.
• Europe is expected to witness a lucrative CAGR in the forthcoming years, due to growing awareness about applications of non-surgical techniques and increasing disposable income
• Key players are investing in improving their product portfolio to develop advanced products to maintain their market position. For instance, in March 2019, Seikagaku Corporation introduced a new intra-articular viscosupplement named HyLink (single injection) in Italy for the treatment of knee OA
• Companies are also undertaking strategic initiatives, such as marketing licensing and distribution partnerships to increase geographic presence
• Some key industry contributors are Anika Therapeutics, Inc.; Sanofi; Ferring B.V.; Seikagaku Corporation; Bioventus; Zimmer Holdings Inc; LG Life Sciences Ltd; and Lifecore Biomedical, LLC
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Viscosupplementation Market Segmentation
Grand View Research has segmented the global viscosupplementation market based on product, end use, and region:
Viscosupplementation Product Outlook (Revenue, USD Million, 2016 - 2027)
• Single Injection
• Three Injection
• Five Injection
Viscosupplementation End-Use Outlook (Revenue, USD Million, 2016 - 2027)
• Hospitals
• Orthopedic Clinics/Ambulatory Surgical Centers (ASCs)
Viscosupplementation Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o Japan
o China
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
o Colombia
• Middle East & Africa
o South Africa
o Saudi Arabia
o United Arab Emirates
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.