The global viscosupplementation market is expected to reach USD 6.52 billion by 2025, based on a new report by Grand View Research, Inc. The market is expected to observer an exponential growth over the next 9 years due to the increasing incidence of osteoarthritis, wounds, gingivitis, & ulcers and growing base of the geriatric population are some high-impact rendering drivers of the viscosupplements market.
Estimates published by the 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. An associated consequence of this increase in the geriatric population will be an increase in the incidence of obesity and osteoarthritis. Along with growing preference for minimally invasive surgeries, global increase in the target population is expected to significantly propel demand for viscosupplementations throughout the forecast period.
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Further Key Findings from the Study Suggest:
Three injection dominated the market in 2016, closely followed by single injection. It can be owing to the prolonged presence and holding a significant share of this market.
Single injection is anticipated to be one of the fastest growing segment owing to the increase in convenience, reduced hospital visits, and reduced adverse effects & associated pain
Geographically, Asia Pacific held the largest market share in 2016 and is expected to maintain its position during the forecast period. This large share can be accounted for by the presence of a sizeable base of geriatric population, which is more susceptible to disorders such as osteoarthritis and rheumatoid arthritis. Moreover, growing demand for minimally invasive procedures is a significant factor contributing to the large share of Asia Pacific.
Due to the presence of high unmet medical needs in emerging economies, such Brazil, growing awareness about applications of minimally invasive techniques, and increasing disposable income, the Latin American market is expected to grow at a lucrative rate in the coming 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
Grand View Research has segmented the viscosupplementation market by product and region:
Viscosupplementation Product Outlook (Market Revenue in USD Million, 2014 - 2025)
Viscosupplementation Regional Outlook (Market Revenue in USD Million, 2014 - 2025)
Middle East and Africa
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