Viscosupplementation Market

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Viscosupplementation Market - Key Research Findings

1. Global viscosupplementation market size in 2018 – Nearly US$ 2,300 Mn

2. The viscosupplementation market is expected to grow at an approximate CAGR of 5.0% over 2019-2029.

3. North America and Europe are expected to remain the largest regional markets for viscosupplementation products.

• North America and Europe are the leading regions in the viscosupplementation market owing to the increasing adoption of viscosupplementation products for osteoarthritis and increasing number of clinical trials for the development of viscosupplementation products for different joints. Gains will be driven by viscosupplementation’s viability as an effective mode of treatment that can delay knee replacement surgery.

4. The three injection segment is expected to remain the most preferred product type segment of the viscosupplementation market

• The growth of this segment can be primarily attributed to the global growth of the osteoarthritis treatment market. Some of the factors, such as cost-effectiveness and rising patient awareness about the benefits of viscosupplementation procedures, are expected to propel the growth of the viscosupplementation market.

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Top 3 Factors Shaping the Viscosupplementation Market

• Launch of New Products and Increase in the Number of Distribution Agreements are Among the Major Trends in the Viscosupplementation Market

Key market players, such as Anika therapeutics, Bioventus LLC, Seikagaku Corporation, and Zimmer Biomet, are focusing on the expansion of viscosupplementation product portfolio through distribution agreements and the launch of the new products. For example-

• In March 2019, Seikagaku launched HyLink, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis in Italy

• In February 2018, Bioventus LLC entered into an extension of its agreement with Seikagaku Corporation to continue the distribution and marketing of SUPARTZ FX in the U.S.

• Rising Patient Pool Suffering from Osteoarthritis is expected to Create Strong Demand for Viscosupplementation Products

According to the Centers for Disease Control and Prevention, osteoarthritis affected more than 30 million U.S. adults during 2018, and it has also been estimated that 70 million people are likely to suffer from osteoarthritis by 2040. Increase in the population suffering from osteoarthritis is creating high demand for osteoarthritis treatment and pain management products, which is expected to result in the robust growth of the viscosupplementation market.

• Introduction of Combination Products is Propelling the Growth of the Viscosupplementation Market Over the Forecast Period

Manufacturers are constantly improving their pipeline capabilities and enhancing their well-established presence in the intra-articular hyaluronic acid injection market with the introduction of new combination hyaluronic acid products. Due to the excellent physiochemical properties of hyaluronic acid, it can be easily combined with other pharmaceuticals such as corticosteroids.

In 2016, Anika Therapeutics launched the ‘Cingal’ combination of hyaluronic acid products in Canada. Anika Therapeutics is recently focusing on receiving approval for Cingal in the U.S. market.

Viscosupplementation Market Structure Analysis

• The global viscosupplementation market is a fragmented market owing to the presence of a number of big market players and regional players

• Most of the key players maintain a strategic focus on the development of distribution partnerships and agreement for global market expansion

• Manufacturers are focusing to receiving FDA approval for a combination hyaluronic acid injection and viscosupplementation for other joints except for knee joints in the U.S. market, as no viscosupplementation products are approved for other joints osteoarthritis treatment except knees in the U.S.

• Some of the top manufacturers that contribute a high revenue share in the viscosupplementation market are Sanofi SA, Fidia Farmaceutici S.p.A., Seikagaku Corporation, Ferring B.V., and Sanofi SA.

• Distribution and marketing synergies between companies expected to exploit the growth prospects of the viscosupplementation market.

• Major players in the viscosupplementation market, such as Anika Therapeutics, Zimmer Biomet, Bioventus LLC, Depuy Synthesis, etc., are employing synergistic methods for the co-marketing and co-promotion of their products with other companies. These synergies between partners are presenting an instant growth impact as compared to acquisitions and mergers.

• In November 2016, Zimmer Biomet signed an exclusive distribution agreement with Seikagaku Corporation for the sales of VISCO-3 in the U.S. market. Zimmer Biomet also distributes Seikagaku Corporation’s Gel-One Cross-linked Hyaluronate product.