Viscosupplementation is a procedure used for management of osteoarthritis. As there is no cure for arthritis to help the improvement in the condition, viscosupplementation is used. It is a thick fluid namely hyaluronate, which is injected into the body will support by improving the lubricating properties of the synovial fluid. It hence reduces the pain caused due to osteoarthritis of the knee, helps in easier mobility, and provides better comfortable level of activity. This is used only after other treatment methods have been opted and have failed to assist with the management. About three to five injections are to be administered, each 1 week apart. The pain relief is observed by some patients in sometimes three to five weeks of course of injections whereas others feel the relief in 8 to 10 weeks of the course.
COVID-19 scenario analysis:
The outbreak of the coronavirus-2 disease has led to a global lockout situation causing economic crisis in various sectors. However, the government is shaking hands with the private and semi-private organizations to assist in managing the COVID-19 patients. Currently there is no ideal medication for the treatment of COVID-19. However, one of the drugs namely Hydrochloroquine used for the treatment of malaria is now used for the treatment of coronavirus-2 and is shown to be quite effective against it. Furthermore, the government has declared social distancing and various hospitals are shut leading to the reduction of the surgical procedures to avoid the spread of the hospital acquired diseases. The increase in the number of patients affected due to the virus is leading to the problematic situation where the beds available are lesser. The healthcare professionals are facing a hard task as the coronavirus spreads easily. Additionally, once affected by the virus, it doesn’t have a cure unless the immunity is playing its part. The pharmaceutical industry and the biotechnology industry is anticipated to have lucrative growth due to the steep rise in the demand for the R&D of the drugs required for the therapy of COVID-19 patients.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The market is driven by the key factor such as growth in the number of patients experiencing osteoarthritis, which would propel the industry growth. The rise in the awareness among the patients regarding the novel treatments available for the managements of osteoarthritis is anticipated to help the market flourish in the forecast period. The advantages postured by the hyaluronate viscosupplementation over the conventional methods mainly the due to the minimally invasive method would help the market boost in the coming years. The growth in the population facing obesity is also expected to help the market grow lucratively. However, the lack of safety and efficacy may hinder the growth of the industry in the commenced period.
The global Hyaluronic Acid Viscosupplementation market trends are as follows:
New product launches to flourish the market
The launch of new products for the treatment of osteoarthritis in the form of hyaluronate would help the market grow in the near future. For instance, in December 2019, Fidia Farmaceutici S.p.A., which is among the players carrying out research, development and manufacturing of the hyaluronic acid-based products and its wholly owned subsidiary, namely Fidia Pharma USA Inc., introduced TRILURON in the United States. It is a sodium hyaluronate based intra-articular viscosupplement, which is indicated for the treatment of pain in osteoarthritis of the knee in the patients who did not respond adequately to conservative non-pharmacologic therapy and also to simple analgesics.
Furthermore, in March 2018, Bioventus, which is among the players dealing in orthobiologic solutions, announced the launch of its new product called as DUROLANE. It is a single-injection, hyaluronic acid (HA) product used for the joint lubrication for the treatment of pain associated with mainly knee osteoarthritis (OA). DUROLANE is proved to be very safe for patients and has greater number level-1 clinical studies than any other single-injection HA knee therapy on the market, which is launched till the date.
Surge in incidences of osteoarthritis to boost the market
The rise in the number of individuals experiencing osteoarthritis is anticipated to propel the market growth in the coming years. According to the estimates given by the Center of Disease Prevention and control, about 32.5 million adults in the United States are affected by the Osteoarthritis. The global awareness of such an alarming number of people who are suffering from the pain and inability to work due to osteoarthritis would help the market gain maximum revenues in the forecast period.
In addition, in 2017 the estimated given by the Arthritis Foundation about 92.1 million adults have been diagnosed with arthritis by the doctors or have reported the arthritis symptoms. The rise in the concern to have a better quality of life would help the hyaluronic acid viscosupplementation market to gain maximum market shares in the near future.
Key benefits of the report:
- This study presents the analytical depiction of the global Hyaluronic Acid Viscosupplementation industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Hyaluronic Acid Viscosupplementation market share.
- The current market is quantitatively analyzed to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Hyaluronic Acid Viscosupplementation Market research report:
- Who are the leading market players active in the Hyaluronic Acid Viscosupplementation market?
- What are the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in tasking further strategic steps?
Hyaluronic Acid Viscosupplementation Market Report Highlights
By Course of Treatment
By Stage od Disease
By End User
Key Market Players
SynviscOne, Carbylan Therapeutics., TRB Chemedica, Anika Therapeutics, Bioventus, Meda Pharma, Swiss biomed Orthopaedics, Supartz, Stanford Chemicals Q-Med, Croma-Pharma