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Fastest growing segment fueling the growth of Viscosupplementation Market

Viscosupplementation Market 

The global Viscosupplementation Market is estimated to be valued at US$ 3404.73 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Viscosupplementation refers to treatment of knee osteoarthritis through injections of hyaluronic acid into the knee joint space. Hyaluronic acid acts as a lubricant and shock absorber, thereby reducing pain and improving mobility.

Market key trends:

One of the key trends in the viscosupplementation market is the increasing focus of players on the development of single-injection viscosupplementation products. Single-injection viscosupplementation offers various advantages over traditional multi-dose injections such as reduced pain, infection risk and improved patient compliance. Players such as Seikagaku Corporation have developed "SAIZEN", a single-injection viscosupplementation product for knee osteoarthritis. Similar single-dose product developments are expected to drive the growth of viscosupplementation market over the forecast period.

Segment Analysis:

The global viscosupplementation market is segmented based on products, applications, and end-users. Based on products, the hyaluronic acid segment holds the largest market share owing to the wide usage of hyaluronic acid injections for knee osteoarthritis treatment. Hyaluronic acid injections are the standard viscosupplement therapy for viscosupplementation.

Key Takeaways:

The Global Viscosupplementation Market Size is expected to reach US$ 5,114.26 Mn by 2030, expanding at a CAGR of 8.2% over the forecast period. The growing prevalence of osteoarthritis cases across the world is primarily driving the market.

Regional Analysis:

North America dominates the global market and accounts for a significant revenue share. Availability of advanced medical facilities, rising geriatric population, and growing awareness among people regarding new treatment options for osteoarthritis are driving the North America market. Asia Pacific market is expected to witness the highest growth over the forecast period owing to rapidly improving healthcare facilities, presence of low-cost treatments, and increasing healthcare spending in countries like China and India.

Key Players:

Key players operating in the viscosupplementation market are Anika Therapeutics Inc., Seikagaku Corporation, Ferring Pharmaceuticals, Bioventus, Fidia Farmaceutici S.P.A., Mylan N.V., Sanofi S.A., OrthogenRx, Teva Pharmaceutical Industries Ltd, and Johnson & Johnson. The market players are launching innovative viscosupplementation agents to expand their product portfolio and increase market share. For instance, in 2021, Anika Therapeutics Inc. launched CINGAL, a three-injection viscosupplementation treatment for osteoarthritis of the knee.

 

Read More  - https://www.trendingwebwire.com/viscosupplementation-market-size-and-trends-analysis/ 

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