Viscosupplementation Market Size Worth USD 5,243.19 Million by 2023, at 8.96% CAGR | New Single-injection Formulations to Fuel Viscosupplementation Industry

Osteoarthritis of the knee (OAK) is a disease becoming highly prevalent among young adults and elder ones as well. Viscosupplementation products combined with hyaluronic acid which can be an effective treatment for providing lubrication and restoring mobility.

Launches of novel products are predicted to bode well for the market growth in the forthcoming years. In February 2017, the U.S. Food and Drug Administration (FDA) gave approval to Zimmer-Biomet for extending its efficacy claim of its product, Gel-One Cross-linked Hyaluronate for OAK. The new claim asserts a reduction in patient visits which can propel the sales of the product and boost growth in the viscosupplementation market.

Industry News

Development of new formulations for ensuring the lubrication in joints is expected to augur well for the viscosupplementation market. Studies have revealed that sub-micron particles with surface coatings possesses the potential to lubricate degenerate joints. To this regard, Anika Therapeutics has launched MONOVISC, a single-injection supplement, which provides pain relief for close to 6 months. The organic formulation has been recommended by European and U.S. federal regulatory agencies as a replacement for synovial fluid. Success of these drugs have led to its development for treatment of OA in hip, wrist, and shoulder.

Medical reimbursement policies which cover patients with OAK can benefit the market. For instance, Bluecross Blue Shield has rolled out a new policy effective from 2019 which reimburses patients with OAK and those who failed to respond to physical therapy and other medications.

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Competition Analysis

Well-known names in the viscosupplementation market include Sanofi, Hoffmann-La Roche, Smith & Nephew Plc, Anika Therapeutics Inc., Ferring B.V., Regen Lab SA, Allergan, Zimmer Biomet, Fidia Farmaceutici S.P.A., and Bioventus. Players are competing on the basis of differentiation, price, and availability.

Segmentation Analysis

The global viscosupplementation market is segmented by hyaluronic acid type, procedure type, application, and end-user.

By hyaluronic acid type, the stabilized hyaluronic acid segment accounted for a large market share in 2017 thanks to high product quality and negligible impurities.

By procedure type, the three-injection procedure is expected to lead the market over the forecast period due to its advantages over its counterparts. Its low pricing compared to single-injection and short duration of treatment with five-injection procedure is likely to bolster its demand significantly. It can touch a value of USD 2,602.58 million by 2023. On the other hand, the single-injection procedure segment can accrue significant revenue for the Viscosupplementation Market owing to its increased use in treating knee osteoarthritis.

By application, the knee arthritis segment held the largest market share in 2017, followed by hip osteoarthritis. The hip arthritis segment can generate significant revenue for the market in the forthcoming years after successful clinical trials guaranteeing its efficacy.

By end-user, hospitals & clinics held the lion’s share in the viscosupplementation market due to prevalence of osteoarthritis and the huge geriatric populace. This can be credited to the large patient pool catered by these institutions. In addition, the partnership with insurance companies for providing sufficient coverage for patients is likely to culminate in the segment generating maximum revenues for the market.

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Regional Analysis

Region-wise, the market is segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA).

The Americas held the numero uno position in the viscosupplementation market primarily driven by patient preference for minimally invasive procedures from major surgical procedures. Massive demand in viscosupplementation products, presence of various medical players, and enhanced healthcare infrastructure in regions of Canada and the U.S. are factors which can drive regional market demand.

The APAC region is touted to generate close to USD 447.24 million by 2023, expanding at 10.48% CAGR over the forecast period. Patient awareness of single-injection treatment and inclination towards minimally invasive surgeries in Australia, China, and India are factors which can spur the regional market demand. Lax regulations in South Korea make it a viable choice for future investments for leading players.

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