An Incisive, In-depth Analysis on the Viscosupplementation Market
This study offers a comprehensive, 360 degree analysis on the Viscosupplementation market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Viscosupplementation market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Viscosupplementation Market Outlook & Key Findings
- Viscosupplementation market likely to grow at nearly 4.6% in 2020,
- Short period of lubrication and pain relief by viscosupplementation remains a challenge
- Development of cross-linked hyaluronic acid to encourage greater investments
- Relaxation in regulatory norms to drive the market in Asia Pacific in the forecast period
Viscosupplementation Market Analysis: A Snapshot
The NCBI mentions that close to 9.6% of men and 18% of women aged 60 and above develop osteoarthritis. 80% of these have restricted movements and 25% find it difficult to perform daily chores.
As per University of Surrey, over 8.75 Mn people in the UK seek medical advice regarding osteoarthritis every year. This rising incidence, demand for non-surgical methods to treat the ailment followed by clinical efficacy of hyaluronic acid-based therapies is expected to drive the viscosupplementation market during the forecast period.
Proprietary Technology Integration to Bolster the Viscosupplementation Market
The leading players are emphasizing on developing cross-linked hyaluronic acid to facilitate immediate pain relief. Extensive investments are being made by them to have a competitive edge over each other.
For instance – Sanofi S.A.’s “Synvisc-one” viscosupplement comes across as an exclusive composition of 2 formulations of cross-linked polymers containing hyaluronic acid. This composition lets Synvisc-one act as a fluid as well as gel. The high molecular weight is reported to render therapeutic efficacy in the long run.
On the similar lines, Anika Therapeutics, in June 2019, did showcase “Hyalofast”, a scaffold based on hyaluronic acid meant for repairing cartilages at ICRS (International cartilage Regeneration and Joint Preservation Society). Also, Bone Therapeutics S.A., in Apr 2018, announced completion of clinical trials for “JTA-004 intra-articular injection” for knee osteoarthritis.
Covid-19 Crisis Impact - Significant Delays and Rescheduling of Treatment Hindering the Market
The Covid-19 pandemic has resulted in an unprecedented economic and operational unpredictability. The uncertainty regarding developing and commercializing effective options for treatment can’t be ruled out as well. These glitches are expected to re-schedule and delay diagnosis and treatment related to viscosupplementation in the upcoming 2 to 3 quarters.
Besides, the governments across the globe are engaging healthcare workers to cope up with Covid-19 crisis. The market growth could slow down due to this aspect as well.
The viscosupplementation market could pick up pace in the year 2021’s first quarter with somewhat recovery of emerging and developed economies from Covid-19 pandemic. So, linear progression could be expected from 2021 onwards.
Knee Oseteoarthritis Treatment a Key Growth Driver
Viscosupplementation market players are on the development and approval spree of novel products that can address elbow, hip, and knee osteoarthritis.
Viscosupplementation for knee osteoarthritis is expected to be a key growth driver followed by hip osteoarthritis. The primary reason being – viscosupplementation does away with knee replacement.
Viscosupplementation is available with anti-inflammatory drugs these days. Plus, in countries like France, 65% of expenses incurred for 12 out of 13 drugs available to treat knee osteoarthritis are reimbursed.
In the US, Medicare reimburses 80% of patient-allowable cost. These factors are likely to contribute to the growth of in the forecast period.
Viscosupplementation Market Product Synopsis
The viscosupplementation market has been scaling high on five and three injection hyaluronic acid viscosupplements so far. Single injection hyaluronic acid supplements are comparatively new but are expected to hold the largest market share in the forecast period due to reduced visits to hospitals, shorter regimen, and minimal adverse effects.
The very first single injection hyaluronic acid that too from vegan sources was “MONOVISC” developed by “Anika Therapeutics”. It had received US FDA’s approval in the first half of 2014. Increase in demand for single injection hyaluronic acid supplements is expected to catalyze the viscosupplementation market in the forecast period.
Ambulatory Surgical Centres (ASCs) Gaining Traction
The emergence of ASCs (Ambulatory Surgical Centres) is expected to give an impetus to viscosupplementation market in the forecast period. ASCs have the advantages like shorter stay and cost-effectiveness.
The US alone has 5000+ ASCs that make way for viscosupplementation to treat osteoarthritis at affordable costs. Emerging countries in Asia Pacific, Latin America, and Africa are also investing in ASCs to facilitate viscosupplementation.
Viscosuppplementation Market: Region-wise Analysis
The U.S. viscosupplementation market has consistently shown significant annual growth rates, and the market is set to grow at over 3.9% in 2020. Plus, as per the Population Reference Bureau, the number of Americans aged 65 and above are slated to increase two-fold between 2016 and 2060 (46 Mn to 98 Mn).
Europe’s viscosupplementation market, which accounts for nearly 20% of the overall revenues generated, is also set to witness a staggering growth in the future mainly because product innovation is being witnessed by the market.
For instance - France-based Labrha introduced HAppyMini, HAppyVisc, and HAppyCross recently with HAppyOne (single intra-articular injection) and HAppySoft (generic product) are in process.
Asia Pacific is expected to grow at the fastest rate in the forecast period. This could be attributed to enhancement in healthcare infrastructure and facilities in countries like India, Japan, South Korea, and China.
Relaxation in regulatory norms is also another driver to the market in these regions. South Korea recognizes viscosupplements as a specialized medication. These factors are likely to boost opportunities for viscosuppplementation market in Asia Pacific between 2020 and 2030.
Leading Players in Viscosupplementation Market
The viscosupplementation market is witnessing the entry of innovative products and their expansion to the other geographies. For instance – “CINGAL’, a patented product from Anika Therapeutics, announced positive results for its Phase III trial and is planning to make it available in Hungary, Czech Republic, Italy, Poland, and Germany. The major players in viscosupplementation market are:
- Zimmer Biomet Holdings Inc.
- Bioventus LLC
- Anika Therapeutics Inc.
- OrthogenRx Inc.
- Mylan N.V.
- Sanofi S.A.
- Fidia Farmaceutici S.p.A.
- Ferring B.V.
- Seikagaku Corporation
- Chugai Pharmaceutical Co., Ltd.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Viscosupplementation Market: The Way Forward
The long-term outlook regarding viscosupplementation market remains stupendous, with FMI analysts estimating a CAGR of 4.6%. The ongoing pandemic has temporarily slowed down the growth, but the market is expected to bounce back in the first three months of 2021 as recovery management will be in full-swing.
Viscosupplementation market players will need to move beyond their classic strategies of viscosupplement development to target big markets. To increase sales in cost-sensitive, yet lucrative markets, cooperation with local government and healthcare authorities are needed for rapid entry of new products.
Viscosupplementation Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Viscosupplementation market includes global industry analysis for 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics and Covid-19 crisis impact analysis. After conducting a thorough research on the historical as well as current growth parameters of the market, the growth prospects of the market are obtained with utmost precision.
Viscosupplementation Market: Segmentation
The global viscosupplementation market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Chapter 01 – Executive Summary
The report initiates with the executive summary of the viscosupplementation market, which includes a snapshot of key findings and statistics. It also includes supply-side and demand-side trends pertaining to the market.
Chapter 02 – Market Overview
Readers can find the definition and a detailed segmentation of the viscosupplementation market in this chapter, which will help them understand the basics about the market. Along with this, comprehensive information pertaining to product type and their features are provided. It also highlights the inclusions and exclusions, which helps the reader understand the scope of the report.
Chapter 03 – Key Market Trends
Viscosupplementation market report provides the key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are provided in this section.
Chapter 04 – Key Success Factors
This section includes the key successful factors and strategies being adopted by key market participants.
Chapter 05 – Global Viscosupplementation Market Value Analysis 2015-2019 & Opportunity Assessment 2020-2030
This section explains the global market value analysis and forecast for the market during the forecast period. It includes a detailed analysis of the historical viscosupplementation market, along with an opportunity analysis for the future. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020–2030).
Chapter 06 – Market Dynamics
This chapter gives information about COVID-19 crisis impact analysis which comprises current COVID-19 statistics and probable future impact, impact on GDP of individual key countries, segment wise impact, quarter-wise forecast projected recovery quarter. In addition, it includes drivers and restraints pertaining to the viscosupplementation market. Plus, it throws light on macroeconomic factors and various opportunities of the market.
Chapter 07 – Global Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Product Type
Based on product type, the market is segmented into single injection viscosupplementation, three injection viscosupplementation, and five injection viscosupplementation. In this chapter, readers can find information about Y-o-Y growth and market attractiveness based on product type.
Chapter 08 – Global Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Application
Based on application, the market spans knee osteoarthritis, hip osteoarthritis, shoulder osteoarthritis, and others such as elbow and other joint osteoarthritis. In this chapter, readers can understand the Y-o-Y growth and market attractiveness based on application.
Chapter 09 – Global Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by End User
Based on end user, the market is comprises hospitals, ambulatory surgical centers, orthopedic clinics, retail pharmacies, and online sales. In this chapter, readers can understand the Y-o-Y growth and market attractiveness based on end user.
Chapter 10 – Global Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Region
This chapter explains how the market will grow across various regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa (MEA).
Chapter 11 – North America Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter gives a detailed analysis of growth of North America’s market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends and market growth based on the product type, application, end user, and countries in North America.
Chapter 12 – Latin America Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the market in Latin American countries such as Brazil, Mexico, Argentina, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Chapter 13 – Europe Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the market based on its end user in several countries such as the U.K., France, Germany, Spain, Italy, Russia and the Rest of Europe are included in this chapter.
Chapter 14 – South Asia Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the market based on its distribution channels in several countries such as India, Thailand, Indonesia, Malaysia, and the rest of South Asia are included in this chapter.
Chapter 15 – East Asia Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
In this chapter, China, Japan, and South Korea are the prominent countries in East Asia that are the prime subjects of assessment to obtain the growth prospects of the viscosupplementation market. Readers can find detailed information about the growth parameters of the market during the forecast period of 2020-2030.
Chapter 16 – Oceania Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This section highlights the growth prospects of the market for Australia and New Zealand during the forecast period (2020-2030).
Chapter 17 – Middle East & Africa (MEA) Viscosupplementation Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides information about how the market will grow in the major countries in the MEA region such as GCC Countries, South Africa, and the Rest of MEA during the forecast period (2020-2030).
Chapter 18 – Market Structure Analysis
This chapter highlights the tier structure analysis, market concentration analysis and company share analysis along with sales footprint analysis of key players operating in viscosupplementation market.
Chapter 19 – Competition Analysis
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured are Sanofi S.A. (France), Zimmer Biomet Holdings Inc. (U. S.), Bioventus LLC (U. S.), Anika Therapeutics Inc. (U. S.), Fidia Farmaceutici S.p.A. (Italy), Ferring B.V. (Switzerland), Seikagaku Corporation (Japan), Chugai Pharmaceutical Co., Ltd. (Japan), OrthogenRx Inc. (U. S.), and Mylan N.V. (U. S.), and others.
Chapter 20 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the market report.
Chapter 21 – Research Methodology
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the viscosupplementation market.
Sources and Primary Research Splits (%)