The North America Viscosupplementation Market would witness market growth of 8.2% CAGR during the forecast period (2023-2030).
Viscosupplementation aims to improve the knee's functional status and reduce joint pain. Viscosupplementation demand is significantly fuelled by the rising prevalence of osteoarthritis (OA). The main factor causing persistent disability is osteoarthritis, a chronic degenerative joint disability. the market is expected to be driven by the rising demand for non-surgical osteoarthritis treatments, the prevalence of lifestyle-related conditions, and advances in the development of hyaluronic acid-based therapies.
According to the Government of Canada's statistical report, the Canadian population in July 2019 included 6,592,611 seniors. In July 2019, seniors represented 17.5% of the Canadian population. Due to the aging impact, which reduces the flexibility and strength of the cartilage, there is a considerable increase in the geriatric population, making them more vulnerable to knee and hip osteoarthritis. The senior population also exhibits a shift in the cells and extracellular matrix of joint tissues, intensifying the imbalance between anabolic and catabolic activity.
In 2020, 3.9 million adult Canadians above the age of 20 were estimated to have arthritis, according to Statistics Canada. Arthritis is more common in older people and more prevalent in women. Furthermore, North America's market has experienced tremendous growth due to the high awareness of these treatments and the high prevalence of arthritis joint pain among adults in the United States and Canada, along with other co-occurring conditions like diabetes. Hence, the region presents lucrative growth prospects for the market.
The US market dominated the North America Viscosupplementation Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,699.8 million by 2030. The Canada market is experiencing a CAGR of 10.6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 9.6% 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 U.S., Mexico, Canada, and Rest of North America.
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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