Knee Hyaluronic Acid Injections Market

Key Points Covered in Knee hyaluronic acid injections Market Study

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Knee Hyaluronic Acid Injections Market and How to Navigate
• Recommendation on Key Winning Strategies

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2016-2020 Knee Hyaluronic Acid Injections Demand Outlook Compared to 2021-2031 Forecast

According to Future Market Insights (FMI), the sales of knee hyaluronic acid injections have grown at a CAGR of 4.2% between 2016 and 2020. Knee hyaluronic acid injections market has seen an incremental growth and is expected to continue exhibiting a positive trajectory owing to increasing preference for self-care and at home healthcare practices for aged population.

Availability of alternatives for high cost knee osteoarthritis surgery with a low cost yet affordable options is driving current sales figures. Expansion and product launches in emerging markets are other key factors promoting market growth.

Commercialization of highly superior and efficacious knee hyaluronic acid injections for knee osteoarthritis and the shifting trend of preferring single-injection based knee hyaluronic acid injections over repeated injection regime has shown a positive pattern.

Active engagement of companies in strategizing business opportunities through acquisitions and partnerships in order to strengthen their portfolio is likely to boost the market in coming years.

Future Market Insights projects the global market to grow at a CAGR of 5% over the next 10 years. The growth is attributed to majors companies that are actively participating in acquisitions, new product developments, and exclusive marketing agreements to expand their market presence.

How is the Adoption of Knee Hyaluronic Acid Injections Aiding Market Growth?

Rising health related issues associated with obesity and ageing such as joint injury and knee osteoarthritis has been of major concern. Being a degenerative musculoskeletal disorder, knee osteoarthritis can bring immense pain to patients as they grow old and can result in causing further disability, if left untreated. Thus, the need for increased medical care and improved healthcare services have also grown.

According to a study by NCBI, obesity is a major risk factor for osteoarthritis. It also revealed a prevalence of 22.9% of osteoarthritis in obesity surgery patients. Around 39.5 million U.S. adults were affected by osteoarthritis in 2019, as per Centers for Disease Control and Prevention (CDC) statistics.

As an alternative to knee arthroplasty surgery, which is both expensive and have certain post operation complications, knee hyaluronic acid injections market are playing a huge role. The rapid development and commercialization of knee hyaluronic acid injections owing to the factors like superior efficacy, lesser side effects and minimum patient discomfort gives a great opportunity for this market, as the increasing number of osteoarthritic affected patients will be seeking for a safe procedure which is affordable yet effective.

What are the Key Opportunities for Market Players?

As the number of osteoarthritic patients is increasing, so is the demand for solutions that can relieve the patients of the pain caused by the disease. Knee hyaluronic acid injection, also called as viscosupplementation, is proving to be a successful procedure that helps in improving the lubrication in synovial fluid. Thereby relieving pain and providing comfortable level of activity due to improved mobility.

FDA approvals for Knee hyaluronic acid injections and ongoing trials for new novel products in this segment is expected to provide great opportunities for the market players in the near future.

Will There be a Challenge to Knee Hyaluronic Acid Injections Market?

Although viscosupplementations provide benefits such as greater efficacy and faster recovery timing, there are certain side effects associated with the usage of these injections. These effects are usually mild and do not last for long durations and include temporary pain on injection site, itching, redness, swelling, bruising around the joint and accumulation of fluid in the injected knee.

Stringent reimbursement policies in developed and emerging regions to consider Sodium Hyaluronic acid injections as a better treatment option, limitation of treatment cycle frequency and funding provisions by organizations for the same can act as another challenge. 

Despite claims and reasonable clinical evidence from manufacturers of efficacy and specific product advantages, many end-users remain doubtful that Knee Hyaluronic Acid Injections is truly an effective treatment for osteoarthritis of the knee. Therefore confidence of physician and consultant doctors must be increased by way of providing them with clinical studies and data in detail which are especially designed to address these concerns.

What is the Impact of the COVID-19 Crisis on the Market?

The COVID-19 pandemic had a somewhat negative impact on the growth of knee hyaluronic acid injections market owing to reduced physician’s office and healthcare visits. On the other hand, government and business owners have started looking for alternatives, benefitting lower economies to source material.  

The outbreak has changed distribution channel operations and pushed traffic to e-commerce options. Supply chains were hampered during second quarter of 2020, due to trade blocks which occurred globally to stop the surge of virus. These factors are likely to subside through 2021 and beyond.

Country-wise Insights

Will the U.S. Remain a Key Knee Hyaluronic Acid Injections Market?

FMI Analysis reveals that North America dominated the global knee hyaluronic acid injections market in terms of revenue, while the United States (US) market is expected to account for over 90% of the market share in 2021. It is further anticipated to grow at a CAGR of over 4% through 2031.

The dominance is driven by higher health awareness amongst public and focus on enhancing healthcare services by healthcare providers. Due to the rise in outpatient healthcare services model with minimum cost of treatment and nature of Knee Hyaluronic Acid Injections treatment pattern for the Knee Osteoarthritis, Ambulatory surgical centers turns out to be the most lucrative segment in this region.

Why is Germany Considered a More Lucrative Market within Europe?

Germany is expected to account for over 19% of the Europe market in 2021, followed by United Kingdom with over 16% of the market share.

According to the journal of Health Monitoring- 2017, among those aged 65 and over, individuals accounted for osteoarthritis includes nearly half of all women and one third of men. The prevalence of osteoarthritis is expected to increase further owing to the population ageing in Germany.

Knee Hyaluronic acid injection treatment thus, has huge potential in this region. It will provide rewarding opportunity to the players serving in this market.

What is Scope for Sales of Knee Hyaluronic Acid Injections in East Asia?

The market for knee hyaluronic acid injections in East Asia will exhibit a 5.2% CAGR during the forecasted period, with Japan dominating in this region. Japan is expected to account for over  48% of the East Asia market share in term of revenue in 2021.

Reimbursement coverage policy for knee hyaluronic acid injections, provisions for uniform and affordable healthcare benefit packages and programs is expected to drive the market in the future.

Additionally, players are entering into new product launches and manufacturing and marketing collaborations as strategies to expand their service offerings, which is likely to augment market growth in Japan.

Category-wise Insights

What are the Sales Prospects of Three-Injection Knee Hyaluronic Acid Injections?

Three-injection knee hyaluronic acid injections is leading the market at global level and is estimated to gain nearly half of market revenue share in the forecasted period. Major contributing factors to this includes high affordability in comparison to the single-injection, while better efficacy and minimum side effects when compared to five-injection knee hyaluronic acid injections.

Which is the leading segment in Knee Hyaluronic Acid Injections Market by End User?

Ambulatory Surgical Centers is expected to be the most lucrative segment as compared to hospital segment in terms of market share and is expected to grow at a CAGR of over 5% through 2031. The push towards price transparency, enabling patients to shop for low-cost, high-quality care; new technological innovations are allowing a broader array of orthopedic procedures to be conducted in the outpatient setting. The improvement in healthcare infrastructure is thus expected to boost the knee hyaluronic acid injections market in developed and emerging markets.

Competitive Landscape

Manufacturers of knee hyaluronic acid injections are primarily aiming to carry out strategic expansions through merger and acquisitions, Product Out- Licensing and exclusive distribution to consolidate growth in a competitive market.

For instance, In May 2021, Ono and Seikagaku announced a manufacturing and marketing approval in Japan for JOYCLU® 30mg intra-articular injection, a joint function improvement agent, for the indication of osteoarthritis (Knee Joint and Hip Joint).

Seikagaku also entered into exclusive marketing and distribution agreements in all commercialized market with leading players such as Zimmer Biomet (U.S.), MDM S.p.A. (Italy), Kaken Pharmaceutical Co. (Japan), and Kunming Baker Norton Pharmaceutical Co. Ltd. (China).

Scope of the Report

Key Questions Answered in Report

• How much is the knee hyaluronic acid injections market worth?

  The knee hyaluronic acid injections market is worth at US$ 1.9 Bn in the year 2021 and is expected to reach US$ 3.0 Bn by 2031 owing to global leading players developing and commercializing highly superior and efficacious knee hyaluronic acid injections for knee osteoarthritis.

• What is the demand outlook for the knee hyaluronic acid injections market?

  Knee hyaluronic acid injections are projected to reflect high demand in the forecast period with a CAGR around 5%.

• At what rate did the knee hyaluronic acid injections market rise in the last 5 year?

  Historically, the market has grown at a CAGR of 4.3% by value from 2016 to 2020.

• What are the key trends of knee hyaluronic acid injections?

  Commercialization of Next Generation combination injections, shift of multi to Single-Injection treatment pattern, localized expansion through exclusive product licensing and distribution rights are some of the trends which drive the demand for Knee hyaluronic acid injections.

• What factors are driving demand for knee hyaluronic acid injections?

  Rising prevalence of knee osteoarthritis, better options for minimal surgical procedures and technological advancements are major driving factors.

• What is the market share of the top players in the knee hyaluronic acid injections market?

  The cumulative market share of the top 03 players including Sanofi, Anika Therapeutics Inc. (DePuy Synthes Inc.) and Seikagaku Corporations constitutes around 45% of the overall global market share.

• Who are the top 5 countries driving demand for knee hyaluronic acid injections?

  U.S., Japan, China, Brazil and Europe are the top 5 countries which are driving the demand for .

• At what rate is the sales of knee hyaluronic acid injections rising in Europe?

  Europe’s knee hyaluronic acid injections market is forecasted at to grow at a CAGR of 5% between 2021- 2031. Germany being dominant country in term of revenue for Europe Knee Hyaluronic Acid Injections market.

• At what rate is the demand for knee hyaluronic acid injections increasing in East Asia?

  The East Asia market is set to exhibit a CAGR of 5.2% during the forecast period owing to increase in hospitals and Ambulatory surgical centers

• Which companies are key producers of knee hyaluronic acid injections?

  Sanofi, Anika Therapeutics, Inc. (DePuy Synthes Inc.), Seikagaku Corporation, Zimmer Biomet, Institut Biochimique SA (Bioventus LLC) are key producers in this market.

• What are the key knee hyaluronic acid injections market statistics in Korea and Japan?

  Japan knee hyaluronic acid injections are expected to grow at a CAGR of 4.9% during the forecast period. The market in South Korea is expected to grow at a CAGR of 5.7%through 2031.

Knee Hyaluronic Acid Injections Market by Category

Product:

• Single Injection Knee Hyaluronic Acid Injections
• Three Injection Knee Hyaluronic Acid Injections
• Five Injection Knee Hyaluronic Acid Injections
• Next Generation (Steroid Combination)

End User:

• Hospitals
• Ambulatory Surgical Centers
• Orthopaedics Clinics
• Retail Pharmacies
• Online Sales

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)