Market Trends of Global Viscosupplementation Industry
This section covers the major market trends shaping the Viscosupplementation Market according to our research experts:
Single Injection Segment Expects to Register a High CAGR in the Forecast Period
The single injection segment is expected to witness significant growth over the period, owing to the factors such as providing greater physician and patient convenience, high demand for outpatient surgeries that focus on offering same-day surgical care, including preventive (surgical) and diagnostic procedures, and increasing focus of companies to develop single injection for the treatment of osteoarthritis and rising product launches.
The increasing company focuses on developing single injection products and offering treatment to patients with osteoarthritis. For instance, in October 2021, Seikagaku Corporation launched HyLink, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis in Taiwan. In addition, in September 2020, Bioventus reached milestones with 2 million treatments worldwide with DUROLANE, its single-injection, hyaluronic acid (HA) product used in the treatment of pain associated with osteoarthritis (OA). Similarly, in August 2021, Flexion Therapeutics, Inc. announced the positive results from the randomized, open-label, Phase 2 pharmacokinetic (PK) trial of ZILRETTA (triamcinolone acetonide extended-release single injectable suspension) for the treatments of patients with shoulder osteoarthritis (OA) and adhesive capsulitis (AC) trial.
Thus, the aforementioned factors are likely to increase the demand for single injection, thereby increasing viscosupplementation market growth over the forecast period.
North America is Expected to Have the Significant Market Share
North America is expected to dominate the global viscosupplementation market over the forecast period, owing to factors such as the rising prevalence of osteoarthritis and related disorders, the rising geriatric population, well-developed healthcare infrastructure, and the increasing demand for non-surgical procedures.
The rising burden of arthritis, osteoarthritis, and knee pain is the key factor driving the demand for the viscosupplementation market in the region. For instance, according to Statistics Canada 2021, approximately 5.9 million adult Canadians had arthritis in 2020. The prevalence of arthritis increases with age and is higher among females. In addition, according to the Centers for Disease Control and Prevention (CDC) updated in October 2021, about 1 in 4 United States adults (23.7%) or about 58.5 million people have doctor-diagnosed arthritis. Similarly, according to the Government of Canada in September 2020, approximately 374,000 (1.2%) Canadians aged 16 years and older live with diagnosed rheumatoid arthritis. Thus, the demand for viscosupplementation increases with the increasing cases of arthritis and knee pain in patients, which is expected to increase the market growth over the forecast period.
In addition, with an increase in the geriatric population, there is a rise in the number of people suffering from various arthritis problems which increases the demand for non-surgical procedures thereby increasing the market growth. For instance, according to the data published by America's Health Ranking in 2021 Senior Report, in the United States, there are more than 54 million adults aged 65 and older which accounts for 16.5% of the total population and the total number of adults ages 65 and older is projected to rise to an estimated 85.7 million, accounting approximately 20% of the total population, by 2050.
Furthermore, the rising company's focus on developing viscosupplements for treating osteoarthritis and joint pain in patients is also contributing to the overall growth of the market in the region. For instance, in January 2021, Nuvo Pharmaceuticals Inc. d/b/a Miravo Healthcare launched NeoVisc+ 2 mL and NeoVisc ONE 4 mL, for the treatment of pain and improvement of joint functionality in patients affected by degenerative (age-related changes) or mechanical arthropathy (related to overuse) of the knee, in Canada.
Thus, the rising burden of arthritis and related disorders, the growing geriatric population, and increasing product launches are expected to increase the market growth in this region over the forecast period.
