PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490050
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490050
The global joint pain injections market is estimated to be valued at USD 5.29 Bn in 2024 and is expected to reach USD 9.46 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 5.29 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 8.70% | 2031 Value Projection: | US$ 9.46 Bn |
The global joint pain injections market has been witnessing steady growth in the past few years. Joint pain arises due to various conditions like arthritis, injuries, and age-related wear and tear that lead to inflammation and damage of cartilage and bones. Joint injections help in reducing pain and restoring mobility by delivering medications directly into the joint. Some common joint injections include corticosteroid injections, hyaluronic acid injections, and platelet-rich plasma injections. The rising geriatric population prone to joint disorders as well as the growing prevalence of obesity are fueling the demand for joint pain injections globally. Additionally, the advent of innovative therapies and favorable reimbursement policies are creating new opportunities for players in this market.
The global joint pain injections market is driven by the growing geriatric population, increasing obesity rates, and rising prevalence of arthritis. According to estimates, over 10% of the world's population suffers from some form of arthritis currently and the condition is more common in women and elderly. Moreover, obesity is a major risk factor for knee osteoarthritis and as obesity rates surge significantly, it will further propel the need for joint pain injections. However, the market growth can be hindered by the high cost of therapies especially innovative biologic products. On the positive side, infusion of advanced biologic therapies offers new opportunities. Market players are also investing more in R&D to develop long-lasting and cost-effective therapies which can address the unmet needs and expand the customer pool.
Detailed Segmentation-