– Market valuation to reach about USD 4.8 billion by 2027 from about USD 2.6 billion in 2018
– Rapidly ageing population and introduction of new drugs is driving the market forward
– North America and Europe will hold a massive share of the global viscosupplementation market over the forecast period
ALBANY, N.Y., Sept. 2, 2020 /PRNewswire/ — Over the forecast period of 2019 to 2027, the global viscosupplementation market will grow at a rate of about 7%, pulling up the market worth from about USD 2.6 billion in the year 2018 to about USD 4.8 billion by the end of the stated period.
Transparency Market Research notes, “Interplay of several growth factors is witnessed, keeping the market buoyant. Some of the notable trends and drivers include increasing prevalence of osteoarthritis, introduction of new drugs, rapidly ageing population, and growing preference for minimally invasive surgeries.”
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Key Findings of Global Viscosupplementation Market Study:
Retail pharmacies segment under the distribution channel category is set to account for a notable share of the market over the forecast period
Animal segment under the source category of the report is anticipated to dominate the market and the non-animal segment is expected to chart high growth
Under the category of type, knee osteoarthritis segment is set to be a promising segment, contributing notably to growth in the market
Three injections segment will dominate growth in the product category over the forecast period
For a detailed analysis of global viscosupplementation market by product type, application, source, distribution channel and region, visit TOC https://www.transparencymarketresearch.com/report-toc/10232
Key Drivers of Growth in Global Viscosupplementation Market:
There is a notable growth in number of knee osteoarthritis cases, creating a pressing need for development of novel and more effective drugs for management of pain
Growing geriatric population is a prominent contributing factors in the growth of global viscosupplementation market over the forecast period
There is a notable surge in demand for minimally invasive surgeries world over and this is fuelling growth in the market
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Regional Analysis of Global Viscosupplementation Market:
In 2018, North America held a prominent market share and the trend is anticipated to continue into the forecast period
Surge in demand for minimally invasive surgery, introduction of new drugs in the market, and growing incidence of osteoarthritis is leading to growth in the region
High CAGR is set to be recorded by the Asia Pacific (APAC) region from 2019 to 2027 owing to high prevalence of osteoarthritis
Analyze global viscosupplementation market growth in 30 countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample.php
Competitive Landscape of Global Viscosupplementation Market:
Transparency Market Research has covered top companies in its report on global viscosupplementation market. These companies include Sanofi, Anika Therapeutics, Inc., Seikagaku Corporation, Zimmer Biomet, Ferring B.V., LG Chem, Chugai Pharmaceutical Co. Ltd, and Bioventus, Inc. The report also carries information on product portfolio, recent developments, financials, business strategies, and business segments.
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It is quite pertinent to note here that in the vendor landscape of global viscosupplementation market, players that hold a majority share are Zimmer Biomet, Sanofi, Chugai Pharmaceutical Co. Ltd, and Anika Therapeutics Inc. These players are active and aggressive in terms of growth and use a host of measures to achieve the goal. These include increasing research and development activities, entering partnerships and collaborations, merging with or acquiring other companies. These do not come as a surprise as most players are focusing upon new product development and expanding reach to carve off a higher market share.
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Global Viscosupplementation Market: Segmentation
Viscosupplementation Market, by Product Type
Viscosupplementation Market, by Application
Viscosupplementation Market, by Source
Viscosupplementation Market, by Distribution Channel
Viscosupplementation Market, by Region
Explore Transparency Market Research’s award-winning coverage of the global Healthcare Industry:
Osteoarthritis Drugs Market: Rise in R&D expenditure, increased prevalence of osteoarthritis across the globe, increased geriatric population, rise in awareness regarding degenerative bone diseases in developing countries, and rich pipeline of innovative treatment options are some factors that are expected to boost the global osteoarthritis drugs market during the forecast period.
Hip Replacement Implants Market: The global hip replacement implants market is estimated to be driven by rise in geriatric population and augmented demand for hip arthroplasty/replacement surgical procedures. In addition, high incidences of lower extremity conditions like various hip ailments, osteoporosis, and Osteoarthritis (OA) are further likely to bolster the growth of the global hip replacement implants market.
Orthopedic Biomaterials Market: The global orthopedic biomaterials market is expected to grow at a healthy CAGR of ~7% during the forecast period. The market growth can be largely attributed to the ascending demand for orthopedic implants, surge in the number of sports-related injuries, noteworthy advancements in technology, and growth in the number of research and development activities.
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