Viscosupplementation Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

The viscosupplementation Devices Market By Product Type (Single Injection, Three Injections, and Five Injections), End-User (Hospitals, Orthopedic Clinics, and Others), and Geography is projected to grow at a static CAGR forecast till 2030 due to the growing prevalence of osteoarthritis across the globe and rising demand for non-surgical treatment options for osteoarthritis.

The global viscosupplementation devices market was valued at USD 4.08 billion in 2023, growing at a CAGR of 7.94% during the forecast period from 2024 to 2030, to reach USD 6.43 billion by 2030. The rise in demand for Viscosupplementation Devices is primarily attributed to the rising prevalence of osteoarthritis coupled with the growing old age population, growing demand for non-surgical treatment, increasing advancements in the development of hyaluronic acid-based therapies, and well-defined reimbursement policy for viscosupplements, among others.

Viscosupplementation Devices Market Dynamics:

According to the World Health Organization 2022, worldwide around 528 million people were suffering from osteoarthritis in 2019. As per the same source osteoarthritis contributed to 19 million years lived with disability (YLDs). Osteoarthritis also known as "wear and tear" disease is associated with symptoms such as extreme pain, swelling, and others caused by the wearing down of cartilage within the joints.

Moreover, according to the Australian Institute of Health and Welfare 2020 report, between the years 2017 to 2018, one in eleven Australians have osteoarthritis which makes approximately 2.2 million people in the nation.

Therefore, rising osteoarthritis among the population is likely to surge the global viscosupplementation devices market as these devices help reduce pain and swelling in the arthritic/osteoarthritic joint (most commonly, the knee).

The increasing geriatric population is another factor accelerating the market for viscosupplementation devices market. For instance, according to WHO 2022, it has been expected that, globally by 2030, out of 6 at least 1 person will have his/her age 60 years or above. As per the same source, by 2050, the number of people aged 60 years or above will reach around 2.1 billion. The fact mentioned by the American College of Rheumatology 2021, says that osteoarthritis commonly occurs in the old age population and people aged 40 or above are most likely to suffer from it.

In April 2019, the US Food & Drug Administration (FDA) granted Fidia Pharma premarket approval for TRILURON(TM), a single-use syringe, prefilled with sodium hyaluronate to provide relief to the pain associated with osteoarthritis for up to six months. Thus, growing product approvals is also projected to boost the global market for the viscosupplementation market.

However, certain factors such as the high cost associated with hyaluronic acid therapy and the lack of efficiency of the viscosupplementation devices are expected to pose a challenge to the viscosupplementation devices market growth.

Viscosupplementation Devices Market Segment Analysis:

Viscosupplementation Devices Market By Product Type (Single Injection, Three Injections, and Five Injections), End-User (Hospitals, Orthopaedic Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the viscosupplementation devices product segment, the single injection is expected to emerge as a foremost segment during the forecasted period.

This is because single injection viscosupplementation products are relatively newer and are also cost-effective in comparison to already existing 3-5 injection viscosupplementation products. For instance, as per research studies, a statistically significant improvement was observed for patients treated with a single stabilized hyaluronic acid injection versus those who received standard hyaluronic acid in five injections.

Also, the studies support the use of single injection products in the treatment of knee OA and found a slight improvement in the economic impact on the healthcare system.

Furthermore, rising investments by key players for improving the product portfolio to develop advanced products and to maintain market position is also a driving factor for the segmental growth of the viscosupplementation devices market. For instance, in March 2019, Seikagaku launched HyLink®, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis in Italy.

Thus, the above-mentioned factors are likely to propel the demand for single injection viscosupplementation, thereby contributing to the growth of the viscosupplementation devices market during the forecast period from 2024-2030.

North America is expected to dominate the overall Viscosupplementation Devices Market:

Among all the regions, North America is estimated to account for the largest share of the viscosupplementation devices market in the year 2023. Owing to the significance of key growth factors such as the rising prevalence of osteoarthritis, the growing burden of the old age population, sophisticated healthcare infrastructure, the presence of key players in the market, and fast regulatory approval for new products, in the region, the market for viscosupplementation devices is expected to grow during the forecast period 2024-2030.

The increasing patient population suffering from osteoarthritis is the key factor accelerating the growth of the viscosupplementation devices market in the region. The data published by the Centers for Disease Control and Prevention (CDC) 2020 states that approximately 32.5 million US adults are suffering from osteoarthritis.

The growing burden of the geriatric population is further going to increase the demand for viscosupplementation devices in the region. According to the data provided by the World Bank 2022, about 17% of US citizens aged 65 and above in 2021. Also, according to CDC 2022, around 54.1 million US adults were aged 65 or older in 2019. As per the same source, it has been estimated that by 2060, this number will reach up to 94.7 million in the US. As per the Arthritis by the Numbers report published by the Arthritis Foundation 2019, the risk for knee osteoarthritis increases with age and the annual incidence of knee OA is highest between 55 and 64 years old.

Hence, the above-mentioned factors are going to increase the growth of the viscosupplementation devices market in the region.

Viscosupplementation Devices Market Key Players:

Some of the key market players operating in the viscosupplementation devices market include Anika Therapeutics, Inc., SEIKAGAKU CORPORATION, Sanofi, Zimmer Biomet, Smith & Nephew, Ferring B.V., Lifecore Biomedical, LLC, LG Chem, Fidia Farmaceutici S.p.A, OrthogenRx, Bioventus, DePuy Synthes (Johnson & Johnson), Vivacy, APTISSEN, KiOmed Pharma, BioPolymer GmbH & Co KG, ALBOMED® GmbH and others.

Recent Developmental Activities in the Viscosupplementation Devices Market:

In August 2022, Seikagaku announced the launch of HyLink®, an Intra-Articular Single Injection Viscosupplement for the treatment of knee osteoarthritis in Taiwan.

In January 2022, Nuvo Pharmaceuticals Inc. d/b/a Miravo Healthcare commercially launched NeoVisc+ 2 mL and NeoVisc ONE 4 mL in Canada for the treatment and improvement of joint functionality and pain in patients suffering from degenerative or mechanical arthropathy of the knees.

Key Takeaway from the Viscosupplementation Devices Market Report Study

Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the Global Viscosupplementation Devices Market.

Various opportunities available for the other competitor in the Viscosupplementation Devices Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Viscosupplementation Devices market growth in the coming future?

Target Audience who can be benefited from the Viscosupplementation Devices Market Report Study

Viscosupplementation Devices providers

Research organizations and consulting companies

Viscosupplementation Devices-related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in viscosupplementation devices

Various End-users who want to know more about the viscosupplementation devices market and the latest technological developments in the viscosupplementation devices market.

Frequently Asked Questions for Viscosupplementation Devices Market:

1. What are viscosupplementation devices?

Viscosupplementation devices are preparations that have hyaluronic acid filled in an injection, which is administered into the knee joint to relieve pain associated with osteoarthritis.

2. What is the market for global viscosupplementation devices?

The global viscosupplementation devices market was valued at USD 4.08 billion in 2023, growing at a CAGR of 7.94% during the forecast period from 2024 to 2030, to reach USD 6.43 billion by 2030.

3. What are the drivers for the global viscosupplementation devices market?

The major factors driving the demand for viscosupplementation devices are the rising worldwide prevalence of musculoskeletal disorders such as osteoarthritis, the increasing old age population, recent product approvals, and growing demand for non-surgical osteoarthritis treatment, among others.

4. Who are the key players operating in global viscosupplementation devices?

Some of the key market players operating in the viscosupplementation devices market include Anika Therapeutics, Inc., SEIKAGAKU CORPORATION, Sanofi, Zimmer Biomet, Smith & Nephew, Ferring B.V., Lifecore Biomedical, LLC, LG Chem, Fidia Farmaceutici S.p.A, OrthogenRx, Bioventus, DePuy Synthes (Johnson & Johnson), Vivacy, APTISSEN, KiOmed Pharma, BioPolymer GmbH & Co KG, ALBOMED® GmbH, and others.

5. Which region has the highest share in the viscosupplementation devices market?

North America is expected to dominate the overall viscosupplementation devices market. This domination is due to the favorable reimbursement scenario, advanced healthcare infrastructure, and developed research & development facilities in the region.