Viscosupplementation Market

Viscosupplementation is a method or medical procedure during which a lubricating fluid such as hyaluronic acid (HA) injection or hyaluronan injection is injected into a joint to treat symptoms of knee osteoarthritis, hip osteoarthritis, shoulder osteoarthritis, ankle, and spine arthritis. The growth of the viscosupplementation market is mainly driven by the rising prevalence of knee osteoarthritis, increasing popularity of minimally invasive procedures, and the growing geriatric population. On the contrary, stringent government regulations and the rise in insurance denials for viscosupplementation are anticipated to hinder the market growth during the forecast period.

The global viscosupplementation market is expected to reach USD 5,243.19 million by 2023 from USD 3,137.79 million in 2017 and is expected to register a CAGR of 8.96% during the forecast period from 2018 to 2023. In 2017, the market was led by the Americas with 43.46% share, followed by Asia-Pacific and Europe with shares of 43.07% and 10.48%, respectively. The market in the Americas held the largest market share 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 and sophisticated healthcare infrastructure, and sudden increase in demand for viscosupplementation products. On the other hand, growing geriatric population, raising awareness about single-injection treatment, and increasing preference for minimally invasive surgeries (MIS) in China, India, Japan, and Australia are likely to support the profitable market growth of the Asia-Pacific region throughout the forecast period from 2018 to 2023. Europe would follow the Asia-Pacific in terms of value in the global viscosupplementation market over the forecast period attributed to the flourishing medical technology industry, the rising prevalence of obesity, growing awareness about effective treatment therapies for knee osteoarthritis, and expanding distribution network by major market participants across the UK, Germany, France, and Italy.

The global viscosupplementation market has been segmented based on hyaluronic acid type, procedure type, application, end user, and region.

On the basis of hyaluronic acid type, the stabilized hyaluronic acid segment accounted for the largest market share of 74.01% in 2017, with a market value of USD 2,322.30 million, which is projected to register a CAGR of 9.29% during the forecast period from 2018 to 2023. This is attributed to these products being highly purified, produced without using any animal-sourced materials, and zero risks of impurities. The standard hyaluronic acid segment would exhibit considerable market growth over the forecast period as these products are cost-effective and are expected to gain momentum during the forecast period from 2018 to 2023.

Based on procedure type, the three-injection procedure segment dominated the market and accounted for a revenue share of 49.51% in 2017, with market revenue of USD 1,553.54 million 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. On the basis of application, the hip osteoarthritis segment is likely to register a comparatively higher CAGR of 9.94% during the forecast period due to the surging worldwide number of hip osteoarthritis cases as the hip is the third most susceptible site to develop osteoarthritis, after the hand and knee. By end user, in 2017, the hospitals & clinics segment held the largest position with 59.72% market share and market value of USD 1,873.84 million. Dominance is attributed to the surging number of specialty hospitals and clinics in developing countries.