Viscosupplementation Market Expected to Reach $10.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Viscosupplementation Market," The viscosupplementation market size was valued at $4.4 billion in 2021, and is estimated to reach $10.9 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031. Viscosupplementation is a minimally invasive treatment option for osteoarthritis patients. In a treatment called viscosupplementation, hyaluronic acid is injected into the patient's knee joint. The fluids of the joints and eyes contain large concentrations of hyaluronic acid, a naturally occurring lubricant. This fluid is crucial in lowering inflammation and pain in arthritic joints like the knee.

Factors that drive growth of the viscosupplementation market size include rise in number of product launch for viscosupplementation, increase in geriatric population and rise in prevalence of osteoarthritis. In addition, rise in adoption of minimally invasive surgeries and increase on adoption of key strategies such as acquisition, collaboration, partnership and agreement by viscosupplementation industry anticipated to fuel viscosupplementation market analysis. For instance, in Feb 2020, Anika Therapeutics. Inc. a global, integrated joint preservation and regenerative therapies company with products leveraging its proprietary hyaluronic Acid (HA) technology platform, announced the complete acquisition of Arthrosurface, a leading, privately-held provider of joint surface and preservation solutions for active patients. This acquisition significantly enhances Anika’s commercial capabilities in the U.S. and accelerates its product platform strategy by further expanding portfolio and pipeline across the joint preservation and restoration continuum. Moreover, technological advancement to treat osteoarthritis and increase in number of product launch anticipated to drive the growth of market. For instance, in March 2019, Seikagaku Corporation, a pharmaceutical company announced the launch of HyLink, an Intra-Articular Single-Injection viscosupplement for the Treatment of Knee Osteoarthritis in Italy.

In addition, geriatric population is more susceptible to orthopedic diseases like osteoarthritis. Rise in the prevalence of osteoarthritis cause increase in the demand of viscosupplementation, and surge the viscosupplementation market trends. Thus, this factor is anticipated to fuel the growth of viscosupplementation market. For instance, in 2020, according to the Journal of eClinicalMedicine around 654⋅1 million individuals (40 years and older) were diagnosed with knee osteoarthritis, across the globe. Furthermore, in September 2021, the American Academy of Orthopedic Surgeons (AAOS) released updates, clinical practice guideline indicating the high molecular weight cross linked hyaluronic treatments for knee osteoarthritis.

On the basis of type, the market is segmented into single injection viscosupplementation, three injection viscosupplementation and five injection viscosupplementation. The single injection viscosupplementation segment dominated the market in 2021, and is expected to continue this trend during the viscosupplementation market forecast period, owing to rise in the number of product launch for single injection viscosupplementation and reduction of injection volume makes administration of single injection viscosupplementation easier for healthcare professionals and more comfortable for patients.

On the basis of application, the market is bifurcated into knee osteoarthritis, hip osteoarthritis, hand osteoarthritis and others. The knee osteoarthritis segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in the prevalence of knee osteoarthritis and rising geriatric population who is more susceptible to knee osteoarthritis.

On the basis of distribution channel, the market is classified into hospital pharmacies, retail pharmacies and online pharmacies. The hospital pharmacies segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in number of hospitals and rise in expenditure by government to develop healthcare infrastructure.

North America accounted for a majority of the global viscosupplementation market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to rise in product launch and product approval of viscosupplementation and high presence of viscosupplementation industry who manufactures viscosupplementation product. Asia-Pacific is anticipated to witness lucrative growth, owing to rise in expenditure by government organization to develop healthcare sector, increase in geriatric population.        

The COVID-19 outbreak is anticipated to have a negative impact on growth of the global viscosupplementation market. The COVID-19 pandemic has stressed healthcare systems of the world. A huge number of clinics, hospitals across the globe, were restructured to increase the hospital capacity for the patient diagnosed with COVID-19. Most of the non-emergency and minor procedures got cancel or postpone during pandemic.  The demand for viscosupplementation decreased, owing to flight cancellations; travel bans & quarantines; restriction of all indoor/outdoor events; emergency declaration; and massive slowing of supply chain of raw material. Thus, the outbreak of COVID-19 has negatively impacted the viscosupplementation market.

Key Findings of The Study

• By type, the single injection viscosupplementation segment was the highest contributor to the market in 2021.
• By application, the knee osteoarthritis segment was the highest contributor to the market in 2021.
• By distribution channel, the hospital pharmacies segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.