The United States viscosupplementation market comprises hyaluronic acid-based injections that are used to supplement knee joint viscosity and lubrication for patients suffering from osteoarthritis-related knee pain. Viscosupplementation therapy involves a series of injections of hyaluronic acid directly into the knee joint of patients, helping to reduce friction and distribute weight more evenly. It provides a cushion between bones, restoring normal joint fluid viscosity and elasticity. Viscosupplementation injections relieve pain and improve knee joint function by replenishing depleted hyaluronic acid levels in arthritic knees. The Global United States viscosupplementation market is estimated to be valued at US$ 1.54 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the United States viscosupplementation are Anika Therapeutics Inc., Ferring Pharmaceuticals, Bioventus, Fidia Farmaceutici S.P.A., Mylan N.V., Sanofi S.A., Teva Pharmaceutical Industries Ltd, Johnson & Johnson., F. Hoffmann-La Roche AG, and Zimmer Biomet. The key players are focusing on new product launches and strategic collaborations to gain a competitive advantage in the market.
The key opportunities in the United States viscosupplementation market include a growing aging population, rising incidence of osteoarthritis, and an increasing number of knee arthroscopy procedures. As per estimates, over 30 million Americans suffer from osteoarthritis, largely due to obesity and aging trends.
Viscosupplementation injections act as substitute or complimentary therapy to total knee replacement surgeries. Advances in cross-linking techniques have enabled manufacturers to develop hyaluronic acid formulations that can last longer in the body before degradation.
Market Drivers
The main driver propelling the United States viscosupplementation market growth is the increasing rate of obesity in the country. According to CDC estimates, over 40% of Americans are obese, putting immense strain on weight-bearing joints like knees. Obesity is a primary cause of osteoarthritis due to the additional pressure it places on joints over time. As the obesity problem exacerbates, so does the prevalence of osteoarthritis and the need for effective pain management therapies like viscosupplementation injections. Other factors such as the rising popularity of minimally invasive procedures and favorable reimbursement on viscosupplementation also contribute to market expansion.
Challenges In The United States Of America Viscosupplementation Market
The United States of America viscosupplementation market is facing various challenges such as declining reimbursement rates for viscosupplementation therapies, high treatment costs, and risk of side effects associated with hyaluronic acid injections. The cost of viscosupplementation therapies has been rising over the past few years. However, reimbursement rates have not increased at the same level, creating funding gaps. This is a major challenge for market growth. Further, injection therapies may cause side effects like increase in joint pain, swelling, bruising or limping post injection. Risk of infection is also present which restrains market expansion to some extent.
SWOT Analysis
Strength: Rising prevalence of osteoarthritis in the country and growing aging population are main strengths.
Weakness: Risk of side effects and allergic reactions associated with hyaluronic acid injections are key weaknesses.
Opportunity: Increasing promotion and awareness about minimally invasive therapies can generate new opportunities.
Threats: Declining reimbursement rates and stringent regulations for product approval pose major threats.
Geographically, the United States holds the largest share in terms of value owing to presence of leading companies and rising medical expenditures in the country. The hyaluronic acid injection segment accounts for the maximum share and is expected to continue its dominance over the forecast period.
The fastest growing regional market for viscosupplementation therapies is anticipated to be the Western Europe region. Factors such as growing prevalence of osteoarthritis, expanding medical tourism industry and rising focus on R&D activities by key companies will augment the market expansion in Europe during the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
What Are The Key Data Covered In This United States of America Viscosupplementation Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the United States of America Viscosupplementation ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the United States of America Viscosupplementation and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- United States of America Viscosupplementation Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of United States of America Viscosupplementation vendors
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