by The joint pain injections market is witnessing high growth owing to the growing geriatric population worldwide who are more susceptible to develop joint disorders like osteoarthritis. Joint pain injections offer a minimally invasive option for pain relief and decreased inflammation with temporary or sustained effects depending upon the active ingredient. Some commonly used injectables in this market include corticosteroids, hyaluronic acid injections, and platelet-rich plasma injections. Joint pain injections provide an alternative to oral pain medications and are associated with fewer side effects.
The Global Joint Pain Injections Market is estimated to be valued at US$ 5.29 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the joint pain injections are Pfizer, Inc., Ferring Pharmaceuticals Inc., PACIRA BIOSCIENCES, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., AbbVie Inc., Sanofi, Anika Therapeutics, Inc., Bioventus, Dr. Reddy’s Laboratories Ltd., Zimmer Biomet, Ferring B.V., SEIKAGAKU CORPORATION, and Ono Pharmaceutical Co., Ltd. These players are focusing on new product launches and geographic expansions to gain market share. The growing geriatric population suffering from arthritis and rise in obesity levels are fueling the Joint Pain Injections Market demand for pain injections globally. North America dominates the joint pain injections market followed by Europe and Asia Pacific. However, Asia Pacific is expected to exhibit lucrative growth in the forecast period owing to rise in healthcare infrastructure and expenditure.
Market key trends
One of the major trends in joint pain injections is the rise in demand for hyaluronic acid injections. Hyaluronic acid injections are preferred over corticosteroid injections due to their longer lasting effects and improved safety profile. These injections help in replenishing depleted hyaluronic acid in joints and lubricating them for smooth movement. Technological advancements have resulted in the development of cross-linked hyaluronic acid injections with extended efficacy of 6 months or more compared to regular injections lasting 3 months. This has further augmented their popularity among consumers and physicians for osteoarthritis treatment.
Porter’s Analysis
Threat of new entrants: Low set up and regulatory barriers make threat low.
Bargaining power of buyers: Large number of established brands reduce buyer power.
Bargaining power of suppliers: Suppliers have moderate power due to availability of substitutes.
Threat of new substitutes: New substitute drugs can be threat based on effectiveness.
Competitive rivalry: Intense rivalry exists between established global players to capture more market share.
Geographical regions: North America accounts for share of the Joint Pain Injections Market Regional Analysis due to increasing geriatric population and robust healthcare infrastructure. Asia Pacific is the fastest growing region attributed to growing population, rising arthritis prevalence, and improving healthcare services.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
