Viscosuppplementation Market on Course to Reach USD 4 Billion by 2030: New Study
Global viscosuppplementation revenues are likely to reach USD 4 billion by the end of 2030, according to a new research by ESOMAR-certified firm Future Market Insights.
A recent market study published by Future Market Insights on the Viscosupplementation mark...
According to the study, a number of broader, and industry-specific factors will drive growth in this market, which has been relatively less impacted by the sluggishness induced by COVID-19.
As per the UN, by 2050, those aged 60 and above will account for over 20% of the global population. In other words, the UN says that by 2050 around 130 Mn people will contract osteoarthritis. These numbers point towards growth in the viscosupplementation market in the forecast period.
Covid-19 Pandemic: Viscosuppplementation Market Players Consolidating their Position
The ongoing Covid-19 pandemic has compelled the market players to take a consistent path for the next two quarters. As it would take some time for the healthcare vertical to look through new product launches; the players are looking at ways to smoothen the supply chain as manpower has taken a hit.
Continuous innovations are expected to propel the growth of viscosupplementation market” says the FMI analyst
Key Takeaways of Viscosupplementation Market Study
- Three injection viscosuppplementation is expected to contribute for more than 55% of revenue share
- Knee osteoarthritis is expected to gain around one-third of market share during the forecast period
- North America is the highest revenue generating market due to scientific advancements and high adoption of viscosuppplementation
New Product Development to be the Torchbearer
The market players are into the innovation mode to strengthen their foothold in the viscosupplementation market. This competitive landscape is all set to create ripples all across the market. Some of the innovations are:
- Fidia Pharma USA Inc., in 2019, introduced a HA (Hyaluronic Acid) based intra-articular viscosupplement called “TRILURON” to treat knee osteoarthritis. The treatments cycle involves 3 injections at weekly intervals.
- Japan-based Seikagaku Corporation, in Mar 2019, launched an intra-articular single-injection viscosupplement called “HyLink” in Italy for treating knee osteoarthritis.
- Recently, Gel-One Hyaluronate was approved as one of the injectable gels to treat osteoarthritis of knee. The pre-market clinical study reported no pseudosepsis (severe acute inflammatory responses).
Want more insights?
Viscosupplementation market, a new study from Future Market Insights, opines on the viscosupplementation from 2015 – 2019 and presents demand projections from 2020 – 2030 on the basis of; product types (single injection viscosupplementation, three injection viscosupplementation, and five injection viscosupplementation), application (knee osteoarthritis, hip osteoarthritis, shoulder osteoarthritis, and others such as elbow and ankle joint osteoarthritis), and end user (hospitals, ambulatory surgical centers, orthopedic clinics, retail pharmacies, and online sales) across seven prominent regions.
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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