Global Viscosupplementation Market - 2022-2029

Market Overview

The global viscosupplementation market size was valued at US$ 4,538.67 million in 2022 and is estimated to reach US$ 8,058.34 million by 2029, growing at a CAGR of 8.96% during the forecast period (2022-2029).

Viscosupplementation is a minimally invasive procedure that involves the injection of gel-like substances into a joint to assist the viscous properties of synovial fluid in reducing the joint pain and improves the functional condition of osteoarthritis joints by using a thick fluid called hyaluronate is injected into the knee joint. Hyaluronate helps improve the lubricating properties of the synovial fluid, reduces the pain from osteoarthritis of the knee, and improves mobility.

Market Dynamics

The rising incidence of osteoarthritis and rheumatoid arthritis, increasing research and development, and rising demand for viscosupplementation for relieving pain are the major factors driving the global viscosupplementation market.

The rising prevalence & incidence of osteoarthritis and increasing technological advancements are expected to drive the market's growth.

The viscosupplementation market is driven by rising technological advancements, increasing research & development, and high demand for viscosupplementation in osteoarthritis, which is also expected to drive the viscosupplementation market. The market's growth can also be attributed to the rising expenditure on healthcare and clinical trials. Moreover, the availability of technologically advanced products by key players is also expected to play a vital role in the market's growth.

Rising government funding and increasing awareness of treating osteoarthritis will boost market growth. Another driving factor for the viscosupplementation market is the high adoption rate of viscosupplementation for osteoarthritis pain management. Various novel product launches and research studies contribute to the market's growth.

For instance, in Aug 2021, Seikagaku Corporation launched its Hylink, an intra-articular viscosupplement single injection for knee osteoarthritis treatment in Taiwan, by TCM Biotech International Corporation. This HyLink is used for knee osteoarthritis treatment as its main ingredient, cross-linked hyaluronate hydrogel, is made by crosslinking technology of Seikagaku. It is expected to show improvement in symptoms as highly viscoelastic hyaluronate hydrogel will remain in the joint cavity of the knee for a longer duration.

Side effects associated with viscosupplementation are expected to hamper market growth.

However, the side effects of using viscosupplementation, like swelling, itching, bruising around the joint, and fluid accumulation in the injected knee, hamper the global viscosupplementation market growth.

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The Viscosupplementation market has experienced huge losses due to COVID, as various research and clinical trials got postponed due to the increasing cases of COVID. Various initiatives, collaborations and mergers are happening worldwide, boosting the market's growth. For instance, in Dec 2021, Avanos Medical, Inc. announced about its agreement to acquisition with OrthogenRx Inc., a viscosupplementation therapies provider for knee osteoarthritis pain, for around $160 million.

Segment Analysis

The knee osteoarthritis segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Knee osteoarthritis is a joint disorder that is slowly progressive that can be characterized by cartilage degeneration, joint pain, and inflammation; that affects around 350 million people globally. Knee osteoarthritis has various treatment options, from conservative management to knee arthroplasty. The most used non-operative therapies are intra-articular therapies like hyaluronic acid and corticosteroids. This intra-articular hyaluronic acid is the widely used therapy for treating knee pain and inflammation in people with knee osteoarthritis.

The knee osteoarthritis segment dominates the market due to rising global incidences of knee osteoarthritis and the increasing geriatric population. The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drive the market's growth. For instance, in Sep 2021, Bioventus Inc., an active healing innovation company, announced that the American Academy of Orthopaedic Surgeons released their updated clinical practice guidelines that show that Bioventus's DUROLANE treatment and all the high molecular weight cross-linked hyaluronic treatments have shown improvement in patients with knee osteoarthritis.

Geographical Analysis

North America holds the largest market share in the global viscosupplementation market.

North America dominates the global viscosupplementation market, primarily attributed to the rising number of people suffering from osteoarthritis. According to the Centre for Disease Control and Prevention, in 2020, over 32.5 million adults were dealing with osteoarthritis in the United States. Around 14 million people are suffering from rheumatoid arthritis globally. Increasing expenditure on healthcare and raising awareness among people are also contributing to the market's growth in this region. Advancement of technology in these viscosupplementations, increase in pharmaceutical establishment across the region and government approvals, and the presence of key players in the region are contributing to the growth of the viscosupplementation market.

Moreover, the growing number of product launches is responsible for the market's growth. Many key developments, technological advancements, collaborations, and agreements are taking place in this region. For instance, in Jul 2022, Bioventus Inc., an active healing innovative company, announced its completion of the acquisition of CartiHeal. This acquisition adds CartHeal's active healing solutions portfolio to Bioventus.

Competitive Landscape

The viscosupplementation market is moderately competitive with local and global companies' presence. Anika Therapeutics, Inc., Seikagaku Corporation, Bioventus Inc., Johnson and Johnson, Zimmer Biomet, Sanofi S.A., Miravo Healthcare, Aptissen, L.G. Chem and Lifesciences Ltd, F. Hoffmann La Roche and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market's growth. For instance, in Oct 2021, Bioventus Inc., an active healing innovator company, announced the completion of the acquisition of Misonix Inc., regenerative medicine and minimally invasive therapeutic ultrasonic technologies provider developed for better clinical outcomes.

Anika Therapeutics Inc.

Overview: Anika Therapeutics is a company of joint preservation that provides a variety of advancements in orthopedic care early intervention. They provide solutions for soft tissue repair, osteoarthritis pain management, bone-preserving joint technologies, and regenerative therapeutics.

Product Portfolio:

Cingal: This is the first combination viscosupplement approved that provides both cross-linked hyaluronic acid as well as fast-acting steroid advantages for the treatment of osteoarthritis-associated symptoms. It combines Anika's Monovisc HA formulation with triamcinolone hexacetonide, an FDA-approved steroid for treating inflammation and relieving pain.

Key Development: In Jan 2020, Anika Therapeutics Inc., an integrated company of regenerative therapies and joint preservation with products supporting its hyaluronic acid technology platform, announced its acquisition agreement with Parcus Medical, a company of sports medicine and Arthrosurface, a solution provider for joint surface and preservation.

The global viscosupplementation market report would provide access to approx. 45+ market data table, 40+ figures and 200 (approximate) pages.