Viscosupplementation Market Competitive Research and Precise Outlook 2017 To 2023

Viscosupplementation is a medical procedure used to alleviate pain and restore joint functions by replenishing depleted hyaluronic acid (HA) in the affected area. This procedure provides patients a natural, minimally invasive, FDA approved option to treat symptoms of knee osteoarthritis, hip osteoarthritis, shoulder osteoarthritis, ankle, and spine arthritis. Over recent years, the global viscosupplementation market is growing continually, mainly due to the rising prevalence of knee osteoarthritis. 

Moreover, the increasing popularity of minimally invasive procedures and the growing geriatric population facilitate market growth. According to Market Research Future (MRFR), the global Viscosupplementation market valuation is projected to reach USD 5,243.19 MN by 2023, at 12% CAGR during the review period (2017 to 2023). The market is witnessing increasing investments in the R&D activities, which favors the growth of the market.

Besides, factors such as growing population and urbanization worldwide are fostering market growth. Growth in the global economy provides a huge impetus to market growth, enabling access to improved healthcare. Additionally, seminal efforts and investments made in the development of Viscosupplementation products such as HA injection and etc. pay off well, driving the market growth. Also, Government initiatives play a major role in fostering market growth.

On the other hand, stringent government regulations and a rise in insurance denials for viscosupplementation products act as major headwind restricting the market growth. Also, factors such as low awareness among people about the availability of treatment and high manufacturing cost of viscosupplementation products are likely to impede the market growth. Nevertheless, the rising demand for effective non-invasive treatments for knee pain would support market growth throughout the forecast period.

Major Players: 

Players leading the global viscosupplementation market include Allergan, Sanofi, Hoffmann-La Roche, Smith & Nephew Plc, Zimmer Biomet, Anika Therapeutics Inc., Ferring B V, Fidia Farmaceutici SpA., Regen Lab SA, and Bioventus, among others. 

Industry/ Innovation /Related News: 

September 18, 2019 ---- Anika Therapeutics, Inc. (the US), a global, integrated orthopedic medicines company, announced the commercial soft launch in the US of its injectable HA-enhanced bone repair therapy – TACTOSET. The new hyaluronic acid (HA) technology is developed for the treatments of bone voids and other bone defects.

It is Anika’s first product launch under its US-based hybrid commercial model. Anika leverages its proprietary HA technology platform to provide therapies across the Joint Preservation and Restoration continuum of care. This capability gives Anika’s commercial team more precise commercial control, including greater visibility on product demand, end-user activity, and fulfilment.

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