The Global Viscosupplementation Market to Grow With the Increasing Prevalence of Knee and Hip Osteoarthritis; States MRFR

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 R&D activities, which favors the growth of the market.

Besides, factors such as growing population and urbanization worldwide are fostering the 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 the market growth.

Global Viscosupplementation Market   – Geographical Analysis

North America dominates the global viscosupplementation market. The largest share of the market attributes to the rising preferences for minimally invasive viscosupplementation procedures in the treatment of knee osteoarthritis, instead of knee replacement surgeries. Besides, the presence of viscosupplementation providers and doctors alongside, the sophisticated healthcare infrastructure impacts the market growth positively. There has been a sudden increase in the demand for viscosupplementation products in the US due to which the US viscosupplementation market is estimated to grow double-fold.

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With the continually rising incidents of knee arthritis, the European viscosupplementation market is expected to continue with its second-leading position. Besides, favorable government regulations help in the proliferation of the viscosupplementation market in the region. Moreover, the increased research & development activities in the field backed by government support and funds.

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. 

Global Viscosupplementation Market   – Competitive Landscape

The viscosupplementation market attracts many entrants, demonstrating high growth potential. Providers strive to develop innovative technologies and best practices. To gain a significantly larger share of the market, payers incorporate strategies such as mergers & acquisitions and collaboration. They make substantial investments in developing unique production techniques and acquiring promising companies to increase their global footprints.

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