The United States of America viscosupplementation market involves hyaluronic acid-based injections that help manage pain associated with osteoarthritis, a degenerative joint disease. Viscosupplementation plays an important role in treating knee osteoarthritis pain by supplementing synovial fluid in knee joints. The rising prevalence of osteoarthritis attributed to obesity, aging population and other factors has significantly driven the demand for viscosupplementation in recent years. The Global United States of America Viscosupplementation Market is estimated to be valued at US$ 1.54 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the United States of America viscosupplementation market are Anika Therapeutics Inc., Ferring Pharmaceuticals, Bioventus, Fidia Farmaceutici S.P.A., Mylan N.V., Sanofi S.A., Teva Pharmaceutical Industries Ltd, Johnson & Johnson., F. Hoffmann-La Roche AG, and Zimmer Biomet. Growing geriatric population suffering from osteoarthritis and cost-effectiveness of hyaluronic acid injections compared to joint replacement surgeries are expected to boost the market demand. Advancements like single-injection therapies and customized hyaluronic acid formulations as per severity of osteoarthritis further support the market growth.
Market Trends
Rising adoption of regenerative medicine: Advancements in regenerative medicine allow restoring damaged cartilage using mesenchymal stem cells and tissue engineering techniques thereby decreasing reliance on viscosupplementation over long-term.
Shift towards personalized treatment: Growing understanding about difference in hyaluronic acid molecular weights and weights and their effect on different type of osteoarthritis cases will drive proliferation of customized visosupplementation therapies.
Market Opportunities
Increasing Acceptance Of Ambulatory Surgical Centers: Higher preference of patients to undergo viscosupplementation in outpatient settings rather than hospitals will propel investements in ambulatory surgical centers aiding the market.
Growing Acceptance Of Biologics: Approval of first osteoarthritis biologic therpy in 2023 will open new growth avenues although biologics will be an adjunct or alternative to viscosupplementation rather than replacement.
Impact of COVID-19 on United States of America Viscosupplementation Market Growth
The COVID-19 pandemic has greatly impacted the growth of the United States of America viscosupplementation market. During the peak of the pandemic in 2020-2021, elective surgeries and non-emergency medical procedures were put on hold to avoid overburdening the already strained healthcare systems. This led to a decline in demand for viscosupplementation procedures which are generally conducted for knee osteoarthritis pain management. With fewer patients visiting hospitals and clinics, sales of viscosupplementation products registered a drop.
However, as the pandemic situation stabilizes and restrictions are gradually being lifted, the market is recovering. While telehealth became popular for non-urgent cases during the pandemic, in-person visits for viscosupplementation are picking up again as people delay no longer. The market is projected to gain momentum post-2022 as backlogged patients resume treatment. Also, the aging population profile of the US means osteoarthritis cases will keep rising in the long-run, supporting market growth. Though short-term fluctuations may occur due to future waves, overall the market is forecast to continue expanding till 2031 backed by ongoing research into advanced products.
Geographical Concentration Of United States Of America Viscosupplementation Market
The United States of America viscosupplementation market in terms of value is highly concentrated in regions with larger elderly populations such as the Midwest and South. States like Florida, Texas, California and Illinois have sizeable numbers of older adults suffering from osteoarthritis. This translates to higher sales of viscosupplementation injections administered by orthopaedic surgeons, pain management specialists, and interventional radiologists in these states. Regions with advanced healthcare infrastructure and greater access to knee osteoarthritis treatment options also see more viscosupplementation procedures. For instance, significant market shares are witnessed in developed states including New York, Pennsylvania and Ohio.
Fastest Growing Region In United States Of America Viscosupplementation Market
The Western region of the United States is poised to be the fastest growing market for viscosupplementation during the forecast period. States in the West like Washington, Colorado and Arizona have witnessed rapid growth in their aging populace segments in recent times. As lifestyle-related joint issues increase accordingly, the need for viscosupplementation arises. Moreover, the Western states have attracted significant migration in the last decade, swelling urban populations where availability of orthopaedic care is improving. This translational rise in demand combined with economic development expanding access to new treatment technologies will power above-average expansion for the viscosupplementation market in the Western United States until 2031.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163 )
What Are The Key Data Covered In This United States of America Viscosupplementation Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the United States of America Viscosupplementation 's growth between 2024 and 2031.
:- Accurate calculation of the size of the United States of America Viscosupplementation and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- United States of America Viscosupplementation Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of United States of America Viscosupplementation vendors
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