The outbreak of the COVID-19 pandemic has created a significant impact on the growth of the viscosupplementation market. The global viscosupplementation market growth is mainly driven by the increasing adoption of Viscosupplementation for the treatment of sportss injuries, increasing prevalence of osteoarthritis in older patients, and growing investment in R&D. However, the majority of the countries have strictly imposed a lockdown for the prevention of the communal spread of coronavirus, which has made a slight negative impact on the global viscosupplementation market.
On the other hand, the companies involved in viscosupplementation are adopting the numerous effective strategies like strategic partnerships, technological inventions, and discovering and launching of new products. For instance, in December 2020, Fidia Farmaceutici S.p.A., a leading player in the manufacturing of hyaluronic acid-derived products introduced the TRILURON product. The product is a viscosupplement which is manufactured for the treatment of osteoarthritis pain of the knee. To gain the loyalty and trust of customers, key manufacturers are preparing for the post-impact of COVID-emergency. These strategic product innovations may offer lucrative market opportunities for viscosupplementation treatment after the COVID-19 pandemic.
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As per the report published by Research Dive, the global viscosupplementation market is set to register a revenue of $5,866.3 million by 2027, at a 10.6% CAGR, during the forecast timeframe. The segmentation of the global viscosupplementation market has been on the basis of product, source of origin, and end-use. The report provides key insights on driving and restraining factors, lucrative opportunities, segments, and industry players of the global market.
Factors Affecting the Market Growth
As per our analyst estimates, the massive growth in orthopedic diseases such as Osteoarthritis (OA) in geriatric patients is anticipated to fuel the global viscosupplementation market growth. On the other hand, the Presence of substitute treatments for knee osteoarthritis such as total knee replacement is expected to hamper the global viscosupplementation market growth.
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The 3 Injections products shall have a Substantial Market Growth During the analysis timeframe
Based on the product, the global market for viscosupplementation is mainly segmented into 5 Injections, 3 Injections, and Single Injection. The market size for 3 Injections will be $3,027.0 million in 2027 and is projected to grow at 11.0% CAGR. Extensively Increasing demand for the treatment of knee osteoarthritis pain worldwide, is further anticipated to increase the growth of the segment, over the forecast period
Avian Origins are Projected to Boost the growth, during the Review Period.
Based on the source of origin, the global viscosupplementation market is majorly bifurcated into the non-avian origin, avian origin. The non-avian origin segment shall register a revenue of $3,508.0 million in 2027 and are projected to increase at a growth rate of 10.1%. On the other hand, the avian origin will be the fastest-growing segment and expected to surpass $2,358.2 million by 2027 at a healthy CAGR of 11.3%.
Hospitals will be the Most Lucrative
Depending on the end-use, the global viscosupplementation market is categorized into ambulatory, hospitals, and surgical centers. The hospital segment for the viscosupplementation market shall have the largest market share and is expected to generate a revenue of $3,414.1 million by 2027, rising at a CAGR of 10.9%. The enormously rising number of hospitals along with the availability of effective viscosupplementation procedures are expected to drive the segment, during the analysis period.
Geographical Analysis and Major Market Players
on the basis of region, the global market for the viscosupplementation is classified into North America, Europe, Asia Pacific, and LAMEA. The Europe viscosupplementation market valued at $1,583.9 million in 2027 and is expected to increase at a CAGR of 6.0%, during the projected timeframe. The presence of leading players in the region and their heavy investment on the R& D of viscosupplementation treatment is expected to augment the growth of Europe viscosupplementation market, during the forecast period.
The leading players of the global viscosupplementation market include Aptissen, Anika Therapeutics, Inc., Zimmer Biomet, OrthogenRx, Bioventus., Stellar Pharmaceuticals Inc., ecnofarma S.A., TRB Chemedica International SA, Fidia Farmaceutici S.p.A. and Dr. Reddy’s Laboratories Ltd.
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