Knee osteoarthritis is disability which develops slowly and increases pain over the period. Numerous treatments are available of which one is Viscosupplementation in which a gel like fluid called hyaluronic acid is injected into the knee joint. The acid injected acts as a lubricant enabling bones to move smoothly over each other and as a shock absorber for joint loads. The growing prevalence of osteoarthritis across the globe drives the market growth. As per Arthritis India, over 180 million people of India accounting to 15% of the population had Arthritis.
As per Arthritis Society, as of 2019, about 20% of the Canadian population above 15 years of age have arthritis accounting for 1 in 5 people. And women are more likely to have arthritis as compared to men resulting in nearly 60% of the affected population being women. Further, the society forecasts this prevalence to increase over the coming decades. As per the projected data, about 24% of the Canadian population will have arthritis by 2040. Further increasing geriatric population and change in lifestyle augment the market growth. Also, advancement in hyaluronic acid based therapy and increasing awareness regarding the treatment boost the market growth. Moreover, improving health care infrastructure, rise in the emphasis on quality care, and rapid urbanization offer opportunities to product manufacturers to expand their geographic presence in the market.
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As in September 2020, Bioventus company celebrated 2 million treatments of DUROLANE, a single injection hyaluronic acid product used in treatment of pain from Osteoarthritis. While, the growing government support and reimbursement initiatives along with swelling clinical trials accelerate the growth rate of the market. However, high cost of treatment and concerns for side effects impedes the growth of the market over the forecast period.
The regional analysis of global Knee Hyaluronic Acid Injections market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period. Factors such as rapidly increasing prevalence of osteoarthritis and growing healthcare investments would create lucrative growth prospects for the Knee Hyaluronic Acid Injections market across Asia-Pacific region.
Major market player included in this report are:
Seikagaku Corporation (Zimmer Biomet Inc.)
Sanofi S. A.
Anika Therapeutics Inc. (DePuy Synthes Inc.)
Knee Hyaluronic Acid Injections Market Size: By Supplier, Demand Analysis, Type, Statistics, Regions and Industry Key Manufacture 2022-2031
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