The Europe Viscosupplementation Market would witness market growth of 8.4% CAGR during the forecast period (2023-2030).
The currently available viscosupplements have exhibited clinical efficacy and are recognized as the most effective treatment option for knee osteoarthritis, stimulating market expansion. New products that deliver more effective effects are also being introduced to the market. For instance, during the International Cartilage Regeneration and Joint Preservation Society (ICRS) in June 2019, Anika Therapeutics, Inc. presented Hyalofast, a novel hyaluronic acid-based scaffold for cartilage regeneration.
The knee osteoarthritis sector will also grow due to increasing awareness-raising efforts by public and private organizations. The knee osteoarthritis industry will also grow due to individuals leading more sedentary lifestyles and an increase in the prevalence of knee osteoarthritis in the general population. Numerous factors, including trauma, obesity, and others, contribute to osteoarthritis. The OA affected body parts are afflicted with severe joint pain and stiffness. Osteoarthritis can be identified by symptoms like joint swelling, tingling in the limbs and legs, and decreased range of motion.
According to projections, the EU-27's total population would grow slightly from 446.8 million at the beginning of 2019 to a peak of 449.3 million between 2026 and 2029. By the year 2050, 129.8 million older persons, those who are 65 years of age or older, will live in the EU-27, up from 90.5 million at the beginning of 2019. In the EU-27, it is anticipated that the population between the ages of 75 and 84 will rise by 56.1% during this time, while that between the ages of 65 and 74 is expected to rise by 16.6%. Therefore, the high prevalence of obesity and aging population are expected to increase the growth of the market in the coming years.
The Germany market dominated the Europe Viscosupplementation Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $511 million by 2030. The UK market is exhibiting a CAGR of 7.5% during (2023 - 2030). Additionally, The France market would experience a CAGR of 9.2% during (2023 - 2030).
Based on Application, the market is segmented into Knee Osteoarthritis, Hand Osteoarthritis, Hip Osteoarthritis, and Others. Based on Product, the market is segmented into Three Injection, Single Injection, and Five Injection. Based on End-use, the market is segmented into Hospitals, and Orthopedic Clinics/ASCs. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Viscosupplementation Market is Projected to reach USD 8.2 Billion by 2030, at a CAGR of 8.6%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include DePuy Synthes (Johnson & Johnson), Sanofi S.A., Zimmer Biomet Holdings, Inc., Ferring Holdings SA, F. Hoffmann-La Roche Ltd., LG Chem Ltd. (LG Corporation), Anika Therapeutics, Inc., Fidia Farmaceutici S.p.A. (P&R Farmaceutici S.p.A), Smith & Nephew PLC and Seikagaku Corp.
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