The global viscosupplementation market size is expected to reach USD 7.1 billion by 2026
NEW YORK, June 17, 2019 /PRNewswire/ -- Viscosupplementation Market Size, Share & Trends Analysis Report By Product (Single Injection, Three Injection, Five Injection), By Region, And Segment Forecasts, 2019 - 2026
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The global viscosupplementation market size is expected to reach USD 7.1 billion by 2026. It is projected to expand at a CAGR of 9.11% during the forecast period. The market is expected to observe an exponential growth attributed to the increasing incidence of osteoarthritis, wounds, gingivitis, and ulcers coupled with growing geriatric population.
Estimates published by the World Health Organization (WHO) suggest that the global population of the age group 65 years and above is anticipated to rise from 7% in 2000 to 16% in 2050.A consequence of this growth in geriatric population will be the rise in prevalence of obesity and osteoarthritis.
Along with the growing preference for minimally invasive surgeries, a global increase in the target population is expected to significantly propel demand for viscosupplementations throughout the forecast period.
Further key findings from the study suggest:
• Three injections segment led the market in 2018, closely followed by the single injection segment. This growth can be accredited to the prolonged presence and holding a significant market share
• Single injection segment is anticipated to be one of the fastest growing segments owing to the benefits of the product such as increased convenience and reduced hospital visits and adverse effects such as pain
• Geographically, Asia Pacific held the largest market share in 2018 and is expected to maintain its position during the forecast period, owing to the presence of a sizeable geriatric population, which is more susceptible to disorders such as osteoarthritis and rheumatoid arthritis. Moreover, the growing demand for minimally invasive procedures is a significant factor contributing to the regional growth
• Due to the presence of high unmet medical needs, growing awareness about applications of minimally invasive techniques, and increasing disposable income; Europe viscosupplementation market is expected to grow at a lucrative CAGR in the forthcoming years
• Some key industry contributors are Sanofi; Anika Therapeutics, Inc.; Seikagaku Corporation; Zimmer Holdings Inc.; Bioventus; Ferring B.V.; Lifecore Biomedical, LLC; and LG Life Sciences Ltd
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