Global Hyaluronic Acid Viscosupplementation Market:
The global hyaluronic acid viscosupplementation market is expected to be valued at US$ 3,800.3 million in market and growing at a CAGR of 6.1% over the forecast period by 2026. The key drivers are considered to be increase in number of people with osteoarthritis, obese population due to the change in lifestyle and geriatric population contributing towards the growth of global hyaluronic acid viscosupplementation market. The key challenges include lack of safety and efficacy and complex regulatory process because reimbursement policies of different countries are independent of each other there are a considerable number of pipeline drugs waiting for approval. Demand for non-surgical method and high lifestyle related diseases open up a huge market for global market.
Increasing Number of Osteoarthritis Patients
It is noticed that the global hyaluronic acid viscosupplementation market is influenced mainly by the number of osteoarthritis patients which is the key factor causing the hyaluronic acid viscosupplementation market to grow. According to WHO (World Health Organization) 18% women and 9.6% men over the age of 60 years suffer from Osteoarthritis among this 25% cannot participate in the daily activities and 80% have very contracted resisted movements. Key factors contributing this is unhealthy lifestyle due to the overweight the joint get weakened and effect the movements other one is old age group the bones and join get weakened which hinder the mobility hence contributing the high growth in global hyaluronic acid viscosupplementation market.
North America Dominates the Market Share in the Hyaluronic Acid Viscosupplementation Market
North America contributed major revenue followed by Europe and Asia Pacific. In 2019, North America region accounted huge growth rate and is anticipated to grow with a forecast year. For instance, to population reference bureau the population of America aged 65 or more who’s suffering from hyaluronic acid viscosupplementation related disease are increased from 46 million to 98 million. 80% of the treatment cost is provided by government hence they are considered as leading players in global market. Europe have a stable market value because of budget constraint better example for this is five injection market in Germany which overall contribute to global hyaluronic acid viscosupplementation market.
Key player’s profiles in the global market include:
- Anika Therapeutics, Inc.
- Ferring B.V.
- Zimmer Biomet
- Fidia Pharma USA Inc,
- LG Chem
- SEIKAGAKU CORPORATION
- Lifecore Biomedical
- Hoffmann-La Roche Ltd,
- Bausch Health, Smith & Nephew, Alcon Vision LLC
- Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In May 2016, Anika Therapeutics introduced CINGAL in Canada. This product helps in the treatment of pain in the knee associated with osteoarthritis.
- In March 2019, SEIKAGAKU CORPORATION announced today the launch of HyLink, in Italy. It is a single-injection viscosupplement for the treatment of knee osteoarthritis
Global Hyaluronic Acid Viscosupplementation Market Report Description:
Global hyaluronic acid viscosupplementation market report gives comprehensive outlook on hyaluronic acid viscosupplementation market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on hyaluronic acid viscosupplementation market gives historical, current, and future market sizes on the basis of product type, treatment, dosage form, end user, and region. This report studies global hyaluronic acid viscosupplementation market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global hyaluronic acid viscosupplementation market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global hyaluronic acid viscosupplementation market
Key Findings of the Report:
- Global hyaluronic acid viscosupplementation market expanding at significant CAGR over 2020 to 2026 owing due to increase in the rate of osteoarthritis patients
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Type
- Knee Osteoarthritis
- Hip Osteoarthritis
- Shoulder Osteoarthritis
- Ankle Osteoarthritis
By End Users
- Specialty Clinics
- Ambulatory Surgical Centers
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA