Canada Viscosupplementation Market will grow at highest pace owing to rising geriatric population
Viscosupplementation products are used for knee osteoarthritis treatment. It involves direct injection of hyaluronic acid into the knee joint space to supplement the viscosity of the synovial fluid improving joint lubrication and cushioning. The products are administered through a series of injections, usually three to five injections over a period of months. Some of the major viscosupplementation products available in the market are Durolane, Gel-One, Hyalgan, Orthovisc, Supartz, Synvisc, and Synvisc-One. The growing geriatric population suffering from knee osteoarthritis is the primary driver of viscosupplementation products demand in Canada. As per statistics, over 70% of individuals aged 65 years or above suffer from osteoarthritis of the knee joint. Moreover, rising obesity levels are further fueling the prevalence of arthritis in the country.
The Canada Viscosupplementation Market is estimated to be valued at USD 150.8 Mn in 2024 and is expected to reach USD 255.7 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.60% from 2024 to 2031.
Key Takeaways
Key players operating in the Canada viscosupplementation are Sanofi, Anika Therapeutics, Ferring B.V, Bioventus, Fidia Pharma USA Inc. The rising geriatric population prone to osteoarthritis of the knee joint is driving the demand for viscosupplementation therapies in Canada. Advanced viscosupplementation products with extended efficacy and reduced need for repeat injections are gaining traction.
Canada viscosupplementation market has over 5.9 million people aged 65 years or older as of 2022 accounting for 16.5% of its total population. This geriatric demographic prone to mobility issues like osteoarthritis is driving the demand for viscosupplementation therapies.
Key players are engaged in developing advanced hyaluronic acid formulations for longer lasting therapeutic action. Mono-injection therapies requiring only single injection are gaining popularity over traditional multi-injection therapies for knee osteoarthritis pain relief.
Market Trends
Increased accessibility: Players are focused on investments to widen the insurance coverage for viscosupplementation therapies. This is improving the affordability and accessibility of these therapies.
Personalized therapies: There is a trend of developments aimed at customized viscosupplementation therapies based on individual patient factors like type and severity of arthritis, age, weight etc. This is expected to improve clinical outcomes.
Market Opportunities
Early intervention applications: Opportunities exist for expanded application of viscosupplementation in early-stage knee osteoarthritis patients for preventive care to delay joint replacement surgeries.
Combination product innovations: Combining hyaluronic acid with other bioactive molecules, drugs or cell-based elements can further augment the clinical efficacies. This is an area of ongoing research.
Impact of COVID-19 on Canada Viscosupplementation Market Growth
The COVID-19 pandemic has adversely impacted the growth of Canada viscosupplementation market. During the initial lockdown phase, all elective surgeries including viscosupplementation procedures were postponed to avoid the spread of coronavirus infection in hospitals. This led to a steep decline in the demand for viscosupplementation products in 2020. As the number of COVID cases surged, hospitals prioritized the treatment of critical patients over elective orthopedic treatments like viscosupplementation.
However, as vaccination drives gained momentum and infection rates decreased post lockdowns, the demand started reviving from mid-2021. Many clinics and hospitals resumed regular viscosupplementation procedures by taking necessary safety precautions. While the market did not regain the pre-COVID levels in 2021, it is expected to witness strong growth in the coming years. Market players are focusing on various strategic initiatives like product innovations and marketing campaigns to boost uptake. Technological advancements in viscosity augmentation therapies are also expanding their applications in Canada. Overall, the long-term outlook for Canada viscosupplementation market remains positive despite short-term declines during the peak pandemic period.
Geographical Concentration
In terms of geographical concentration, Ontario province accounts for the major share of Canada viscosupplementation market in terms of value. This is attributed to larger target patient population suffering from knee osteoarthritis coupled with higher number of viscosupplementation procedures performed across major cities like Toronto, Ottawa and Mississauga. Alberta is another lucrative province for viscosupplementation products driven by increasing aging population, obesity rates and rise of lifestyle diseases.
Growing Region
The Western Canada region, which comprises British Columbia province, is projected to record the fastest growth during the forecast period. Growing public awareness about viscosupplementation therapies, favorable reimbursement policies of provincial governments and influx of new viscosupplementation product launches are fueling the demand growth in Western Canada. Furthermore, increasing collaborations between medical device companies and healthcare providers are also supporting the expansion of viscosupplementation market in this region.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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