An incessant increase in osteoarthritis cases amongst the geriatric population is the major growth driver for the hyaluronic acid viscosupplementation market. With the passing of age, protective cartilage in the knee joints tends to wear down with time. This is the leading cause for osteoarthritis, which generally does not have a cure but can be alleviated with viscosupplementation. According to a recent IndustryARC business report, the hyaluronic acid viscosupplementation market will therefore continue to experience considerable growth throughout the forecast period 2018-2023 with a noticeable CAGR of 8.4%. With this healthy CAGR, the market will earn a market revenue of $4.1 billion by 2023.
The IndustryARC report is titled ‘Hyaluronic Acid Viscosupplementation Market: By Course of Treatment, By Anatomy, By End User, and By Geography Analysis - Forecast (2018 - 2023).’ Some of the most important factors covered by the analyst in this report include market landscape that provides information pertaining to competitor analysis, financial analysis of key market players, growth drivers that will define the growth of the market in the upcoming years, and most importantly, segmentation that is covered through all parameters.
Hyaluronic Acid Viscosupplementation Market: Regional Analysis and Competitive Landscape
The analyst of the report says that “a constant growth in awareness pertaining to the benefits of minimally invasive surgical procedures coupled with rising prevalence of osteoarthritis incidences will drive the hyaluronic acid viscosupplementation market growth in the upcoming years.” Further analysis includes the geographical leader of the market that is the Americas with a market revenue of $1133.4 million in 2018. This can be credited to a patient-friendly reimbursement policy provided by the Medicare that helps patients in acquiring insurance for medical treatments. Improvement of healthcare infrastructure in Brazil and a gradual increase in aging population in Canada are also majorly responsible for the growth of the hyaluronic acid viscosupplementation market.
Several medical companies around the world have recognized the potential of this process and invested financial resources into rigorous advertising. The key market players include Fidia Pharma USA Inc., Zimmer Holdings Inc., Anika Therapeutics Inc., Ferring Pharmaceuticals, Bioventus LLC, Seikagaku Corporation, Sanofi Aventis LLC, Chugai Pharmaceutical Co Ltd., Meda, and Mylan. Anika Therapeutics Inc has released two different kinds of products called Orthovisc Mini and Monovisc which provides lubrication to smaller joints as well as alleviating pain felt in the knees.
Hyaluronic Acid Viscosupplementation Market: Market Forces
· Growing Incidences of Osteoarthritis
A detrimental change has been observed in food habits which has led to obesity around the world. A steady rise in the packaged food consumption and easy access to unhealthy food are two major factors that are been responsible for obesity. Increase in obesity leads to rising incidences of osteoarthritis which supplements the growth of hyaluronic acid viscosupplementation market.
· Aggressive Marketing Policy
Several key market players have made aggressive efforts in marketing viscosupplementation to the general population. Though the process wasn’t popular before, it is being solicited for treating post-traumatic osteoarthritis especially faced by military personnel. Several advertising campaigns and governmental initiatives are responsible for the popularization of hyaluronic acid viscosupplementation.
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The hyaluronic acid viscosupplementation market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Applications 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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