Global Viscosupplementation Market 2016-2020

Published: Nov 2016
Pages: 80
SKU: IRTNTR10769

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Overview of the viscosupplementation market

Extensive research carried out by the analysts at Technavio has shown that the global viscosupplementation market will witness steady growth and post a moderate CAGR of more than 6% during the forecast period. With the growing popularity of minimally invasive procedures, the viscosupplementation market is anticipated to have a positive outlook over the coming years. Viscosupplementation is a minimally invasive procedure used for the treatment of osteoarthritis. Hyaluronic acid is injected into the stiff joints, especially knees. This helps in reducing the friction between two bones, thereby, curbing further bone degradation. With the rising geriatric population around the world and advances in healthcare facilities, patients are adopting less painful and cost-effective treatments such as viscosupplementation, compared to conventional knee replacement surgeries that are painful, expensive, and time-consuming. In the recent years, there has been a significant shift in consumer preference from high cost and painful knee replacement procedures to minimally invasive viscosupplementation procedures.

One of the latest trends gaining significant traction in the market is the increase in R&D activities and the launch of novel viscosupplements by the market vendors. Due to the highly competitive nature of the market and the presence of various players, companies are increasingly focussing on advanced technologies to manufacture innovative viscosupplements. For example, Anika Therapeutics' viscosupplements are based on its patented HYAFF technology that helps in manufacturing biocompatible viscosupplements for healthy joint and tissue function. Additionally, the market is witnessing the introduction of new combination products. The product pipeline of the major players in the viscosupplementation market involves combining corticosteroid injections, which helps in relieving pain associated with osteoarthritis, with long-lasting effects of hyaluronic acid. Such new and innovative product launches will increase the level of competition in the market.

Competitive landscape and key vendors

The global viscosupplementation market is highly fragmented and diversified due to the presence of many international and regional players in the market. The market is growing rapidly with an increase in the number of applications that use viscosupplementation for the treatment of osteoarthritis. The demand for viscosupplementation is high in the APAC countries due to an increase in the spending on research activities, fast-growing geriatric population, and rising awareness of minimally invasive viscosupplementation procedures. The vendors compete on various factors such as price, availability, brand, and variety. The growth of players also depends on government support, market conditions, and industry development. Access to capital and advances in product innovations are major barriers for the entry of new players. As a result, vendors must expand geographically and revive domestic demand to achieve sustained growth over time.

Key vendors in this market are -

Sanofi
Anika Therapeutics
Seikagaku
Fidia Farmaceutici
Ferring Pharmaceuticals

Other prominent vendors in the market include Allergan, Contipro Biotech, DePuy Synthes, F. Hoffmann-La Roche, Galderma, HTL Biotechnology, Hyaltech, Expanscience Laboratoires, Lifecore Biomedical, Lipo Chemicals, Merz Aesthetics, Mylan, Nordic Drugs, Shandong Freda Biochem, Shanghai Jingfeng Pharmaceutical, Smith & Nephew, TEIJIN PHARMA, and TRB Chemedica International.

Product segmentation and analysis of the viscosupplementation market

Three-injection cycle
Five-injection cycle
Single-injection cycle

The three-injection cycle segment led the market in terms of revenue and will continue to dominate the market over the next four years. The low cost of these products compared to the single-injection cycle products, and the shorter treatment regimen in comparison to five-injection cycle products are some of the primary factors driving this segment’s growth. Moreover, vendors in the market are increasing their geographical presence to cater to the larger market. This will not only increase the geographical reach but will also enhance the distribution network for the company.

Geographical segmentation and analysis of the viscosupplementation market

Americas
APAC
EMEA

In terms of geography, the Americas accounted for the majority of market shares and is expected to lead the market in the coming years. The US was the largest revenue contributor in the market and the market in the country is projected to witness significant growth because of the increased demand for viscosupplementation procedures for the treatment of knee osteoarthritis. Also, the number of osteoarthritis cases has increased significantly in the region owing to the fast-growing geriatric population and sedentary lifestyle led by people. The sudden increase in demand for premium priced single-injection cycle products owing to their shorter treatment regimen will contribute to this market’s growth in the region.

Key questions answered in the report include

What will the market size and the growth rate be in 2020?
What are the key factors driving the global viscosupplementation market?
What are the key market trends impacting the growth of the global viscosupplementation market?
What are the challenges to market growth?
Who are the key vendors in the global viscosupplementation market?
What are the market opportunities and threats faced by the vendors in the global viscosupplementation market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global viscosupplementation market?

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