Viscosupplementation Market See a Major Financial Boost in the Forecast

The viscosupplementation market is estimated to be valued at USD 5,243.19 million by 2023 and expected to register at a CAGR of 8.96% during the forecast period.

Application of viscosupplementation in the healthcare industry accounted for the largest market share. It has been projected to grow at the highest CAGR on account of increasing demand for the treatment of knee osteoarthritis, hip osteoarthritis, shoulder osteoarthritis, ankle, and spine arthritis.

The rising worldwide prevalence of knee osteoarthritis, increasing popularity of minimally invasive procedures, and the growing geriatric population would facilitate market growth over the forecast period.

Segment analysis

The global viscosupplementation market is segmented into hyaluronic acid type, procedure type, application, and end-user. On the basis of hyaluronic acid type, the global viscosupplementation market is further segmented into stabilized hyaluronic acid and standard hyaluronic acid. The stabilized hyaluronic acid segment accounted for the largest market share for due to the zero risks of impurities and higher quality of the product.

On the basis of procedure type, the market is segmented into the single-injection procedure, three-injection procedure, and five-injection procedure. The three-injection procedure segment is leading the market owing to the lower cost of these products compared to single-injection procedure products, and the shorter treatment regimen in comparison to five-injection procedure products. 

Regional Analysis

The global viscosupplementation market has been segmented based on region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas accounted for the largest market share in 2017 and is projected to grow at the highest CAGR during the forecast period owing to change in the patient shift from knee replacement surgeries to minimally invasive viscosupplementation procedures for the treatment of knee osteoarthritis, the presence of major market participants, sophisticated healthcare infrastructure, and sudden increase in the demand for viscosupplementation products.

Asia Pacific region is followed by Europe, which accounted for the second largest market share and it is estimated to reach USD 447.24 million by 2023 at a CAGR of 10.48%. The UK accounted for the highest market share in Europe and expected to remain dominant throughout the forecast period owing to the increasing geriatric population in this region.

On the other hand, raising awareness about single-injection treatment, and increasing preference for minimally invasive surgeries in China, India, Japan, and Australia are expected to support the fastest market growth of the Asia-Pacific region throughout the forecast period from 2018 to 2023.

 

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