• Viscosupplementation is a minimally invasive procedure that involves the injection of gel-like substances into a joint to assist the viscous properties of synovial fluid to reduce the joint pain and improves the functional condition of osteoarthritis joints by using a thick fluid called hyaluronate is injected into the knee joint. Hyaluronate helps in improving the lubricating properties of the synovial fluid, reduce the pain from osteoarthritis of the knee, improve mobility. Growing prevalence of osteoarthritis globally is expected to drive the market at a high pace over the forecast period (2019-2026).
• According to the World Health Organization (WHO), 9.6% of men and 18.0% of women aged over 60 years have symptomatic osteoarthritis worldwide. Additionally, technological advancements and launching of new products by manufacturers to maintain their share in the competitive market are driving the market. For instance, in February 2017, Zimmer-Biomet's product Gel-One Cross-linked Hyaluronate for OAK got approval from the U.S. Food and Drug Administration (FDA). Further, favorable reimbursement policies are expected to boost the market. According to the International Society of Arthroscopy, Knee Surgery, and Orthopedic Sports Medicine (ISAKOS) in France, the products are reimbursed 50% of their price.
• Growing geriatric population is the key driver of the global viscosupplementation market growth. According to the national institute of health, there are about 617 million people of age 65 and above worldwide, which is 8.5% of the total population globally. Also, it is a cost-effective procedure compared to knee replacement surgeries, so most of them prefer viscosupplementation process over others.
• However, the side effects of using viscosupplementation like swelling, itching, bruising around the joint, and fluid accumulation in the injected knee are hampering the global viscosupplementation market growth.
• Based on procedure type, the global viscosupplementation market is broadly segmented as a single injection, three injection, and five injection. Among all these three injection procedure types accounted for major market share owing to factors like cost, three injection is cost effective compared to others, and the treatment period is shorter than other procedure types. However, during the forecast period, a single injection procedure type segment is growing owing to an increase in their usage and product innovations by prominent manufacturers. In March 2019, Seikagaku Corporation launched a new intra-articular single-injection viscosupplement named HyLink for the treatment of knee osteoarthritis.
• The global Viscosupplementation market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region accounted for major market share in 2018 in the global viscosupplementation market, owing to the presence of advanced healthcare facilities, and presence of leading manufacturers like Sanofi, fidia farmaceutici, and others, and supportive government initiatives are propelling the market growth in this region. For instance, National Institutes of Arthritis and Musculoskeletal and Skin Diseases (NIAMS) provides funds to researchers across the US for osteoarthritis research. However, over the forecast period (2019-2026), the Asia Pacific region is expected to grow at a significant rate. It is owing to the growing geriatric population and increasing awareness about viscosupplementation procedures coupled with healthcare facility enhancements and high demand for minimally invasive surgeries. Additionally, the growing prevalence & incidence of osteoarthritis is the major factor driving this market in this region. According to WHO (World Health Organization), osteoarthritis is the second most common rheumatologic problem, and it is the most common joint disease with a prevalence of 22% to 39% in India. Further, Japan is the second largest in the hyaluronic acid market after US, which is propelling the market growth in this region.
Competitive Analysis
Significant players of the global viscosupplementation market are Ferring B.V., Sanofi, Anika Therapeutics, Inc., Fidia farmaceutici, Seikagaku Corporation, Zimmer Holdings Inc., Bioventus, Lifecore Biomedical, LLC, LG Life Sciences Ltd., and others. The diversified product portfolio is the major factor that is responsible for strengthening the position of these companies in the market. Also, they have been adopting key strategies, such as new product developments, acquisitions, and expansions, to increase their share in the global viscosupplementation market. For instance
• In December 2018, Anika Therapeutics, Inc. announced the resume of its HA-based treatments, including HYALOFAST, a biodegradable, HA-based cartilage repair scaffold, after a non-safety related recall.
• In December 2017, Anika Therapeutics, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its HA-based bone void filler.
• In October 2017, - Anika Therapeutics, Inc. announced that regulatory authorities in Australia approved MONOVISC®(single injection viscosupplement).
• In February 2017, Zimmer Biomet, a pharmaceutical company, received the Food and Drug Administration (FDA) approval for expanded efficacy claim for viscosupplement for osteoarthritis knee pain.
• In March 2016, Fidia Farmaceutici S.p.A. introduced Hymovis® hyaluronic acid (HA)-based product.
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