Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Viscosupplementation is a gel like fluid called hyaluronic acid which is injected into the knee joint. It acts as lubricant to enable the bones to move smoothly thereby reducing the pain caused by the condition. The rising pool of patient in Knee Arthritis, Hip Osteoarthritis in hospital and other end user has increased the demand for the market. Likewise, growing knee injuries, sports injuries, and fractures has significantly increased the demand for market. Besides, the growing healthcare spending and increasing adoption of viscosupplementation is the key factor accelerating the growth of market.
The major factors driving the Europe viscosupplementation market growth are increasing prevalence of OA as the region has growing population with sport or knee injuries, fractures, which has increased the demand for the market. Besides, rising old age population and requirement for treatment has certainly created the growth of the market in region. For instance according to Eurostat, the population of older people as those age 65 years or more in the EU-27 will increase significantly rising from 90.5 million at the start of 2019 to reach 129.8 million by 2050. Also, during the period the number of people in EU-27 aged 75-84 years is projected to expand by 56.1% while the number aged 65-74 years is projected to increase by 16.6%. Also, it is expected that there will be 13.5% fewer people aged less than 55 years living in the EU-27 by 2050. Likewise, integration of proprietary technology is expected to offer significant opportunities for the development of market.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Europe viscosupplementation market. In addition, complete analysis of changes on the Europe viscosupplementation market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The viscosupplementation market comprises of different market segment like product, hyaluronic acid type, application, end-user and country
By product, the viscosupplementation market includes key segment of single injection, three injection, and five injection. In Europe market, three injection is expected to dominate in 2020 and is projected to witness the growth at highest pace. The rising incidence of knee arthritis, hip osteoarthritis has increased the demand for market. Also, different advantage of three injection like it helps in restoring the rheological properties of synovial fluid, analgesic, anti-inflammatory and chondroprotective effects is expected to increase the demand for the market during the estimated time period. Likewise, single injection is likely to hold second position in the market as the segment has rising adoption across the Europe region.
The viscosupplementation market, includes different hyaluronic acid type like stabilized hyaluronic acid, standard hyaluronic acid. Stabilized hyaluronic acid has gained major market in the Europe region as it helps in providing an ability for lubrication where it reduces the pain and stiffness preventing the loss of cartilage and bone. It acts as great shock absorption and lubrication to the knee joints. And reduce the friction in the joints. Additionally, standard hyaluronic acid is likely to contribute healthy growth in the market during the forecast period.
The viscosupplementation market finds its major application in knee arthritis, hip osteoarthritis and others. Knee arthritis leads in the Europe viscosupplementation market. The factors contributing in market growth are rising geriatric population, growing requirement for viscosupplementation products in treatment, developing healthcare facilities has significantly boosted the market growth. Likewise rising awareness for treatment, growing injuries, fractures in knee, hip is further created new direction for the growth of the market. Also, hip osteoarthritis is likely to increase its demand in the region owing to rising elderly population, obesity which is expected to drive the growth of market during the forecast period.
The viscosupplementation market has different end user like hospitals, orthopedic clinics/ambulatory surgical centers (ascs). Hospitals is anticipated to gain major market share in the Europe viscosupplementation market during the forecast period. The developing healthcare infrastructure and increasing spending on treatment, healthcare facilities for knee arthritis, hip osteoarthritis and others is the key factor accelerating the demand for market. Furthermore, orthopedic clinics/ambulatory surgical centers (ascs) is expected to witness emerging growth as it provide facilities and treatment to patient according to patient convenience and time. Furthermore, increasing development of orthopedic clinics/ambulatory surgical centers (ascs) is the key factor accelerating the demand for market.
Europe viscosupplementation market is studied for the following countries like Germany, U.K, France, Italy, Spain and Rest of Europe. Germany is expected to dominate in the Europe market for viscosupplementation as the country has growing elderly populations, developing healthcare infrastructures, and rising spending for different medical condition treatment like knee arthritis, hip osteoarthritis. This features of market is expected to increasing the demand for the market in Germany. Additionally, U.K, followed by France are expected to witness rising growth in the market as the countries has growing joint injuries and aging population.
The key players in viscosupplementation market are Anika Therapeutics, Inc. , Aptissen SA , Bioventus, Singclean ,CROMA-PHARMA, Dr. Reddy's Laboratories, Ferring Pharmaceuticals, Fidia Pharma USA Inc , BioPolymer GmbH & Co. KG, Johnson & Johnson, LG Life Sciences, LABRHA International , Virchow biotech, Sun Phrama , Mylan, OrthogenRx , Roche, Ettsons , Sanofi Genzyme, Seikagaku Corporation, Smith & Nephew, Stellar Phamaceuticals Inc, Tecnofarma S.A., TRB Chemedica International, Wellchem Pharmaceuticals Pte Ltd., Zimmer Biomet
March 2021: Seikagaku Corporation announced a manufacturing and marketing approval in Japan for JOYCLU 30mg Intra-articular Injection, a Joint Function Improvement Agent, for the Indication of Osteoarthritis (Knee Joint and Hip Joint). The approval is based on the results of three Phase III clinical studies. The company demonstrated a statistically significant improvement in WOMAC pain scores over twelve weeks after the initial injection.
January 2019: Bioventus launched Durolane, single injection joint fluid osteoarthritis treatment in Malaysia and selected Athrotech as its exclusive distribution partner for market. Arthotech is beneficial for Bioventus as it continues to grow in Asia and expand the reach and Malaysia is the fourth market in Asia where Durolane is introduced.
May 2019: Lupin and Aptissen S.A announced a definitive distribution agreement under which Aptissen had granted the Lupin, exclusive rights to market, sell and distribute the current Aptissen’s product in Canada. This agreement gave immediate right to distribute Synolis VA for the treatment of Osteoarthritis in Canada. Synolis VA is the intra-articular injection product used to treat osteoarthritis.
May 2017: ETTSONS Medical Partner had officially announced the launch of MONOSHOT =SOLO 120. The products contains 120 mg of pure HA in 1 single injection of 4.8 ml. The product is significantly designed to treat knee OA.
The report analyses the Europe viscosupplementation market based on by product, hyaluronic acid type, application, end-user and country. By product, the viscosupplementation market includes key segment of single injection, three injection, and five injection. In Europe market, three injection is expected to dominate in 2020. The viscosupplementation market, includes different hyaluronic acid type like stabilized hyaluronic acid, standard hyaluronic acid. Stabilized hyaluronic acid has gained major market in the Europe region. The viscosupplementation market finds its major application in knee arthritis, hip osteoarthritis and others. Knee arthritis leads in the Europe viscosupplementation market. The viscosupplementation market has different end user like hospitals, orthopedic clinics/ambulatory surgical centers (ascs). Hospitals is anticipated to gain major market share in the Europe viscosupplementation market during the forecast period. Europe viscosupplementation market is studied for the following countries like Germany, U.K, France, Italy, Spain and Rest of Europe.
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