by The United States viscosupplementation market involves products that are injected into the knee joint of patients suffering from osteoarthritis to supplement the viscous properties of synovial fluid and aid in shock absorption and joint lubrication. These products provide symptom relief from knee pain and help improve joint mobility. 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. These companies have established strong distribution networks across the country and offer innovative product options.
The presence of a large elderly population suffering from osteoarthritis and knee pain offers significant growth opportunities for viscosupplementation products in the United States. According to estimates, over 30 million Americans suffer from osteoarthritis, making it a leading cause of disability in the country. Rising awareness regarding viscosupplementation therapy and its benefits is encouraging more patients to opt for it.
Globally, the United States dominates the viscosupplementation market with the highest revenue share currently. However, other regions such as Europe and Asia Pacific are witnessing faster market growth attributed to increasing focus on non-invasive pain management therapies. The key players are expanding their geographical footprints through strategic collaborations and acquisitions to leverage opportunities in emerging markets.
Market Drivers
The rising geriatric population is one of the major drivers of the United States viscosupplementation market. As per estimates, by 2030, around 20% of the total US population or over 70 million people will be aged 65 and above. This demographic shift will significantly increase the patient pool suffering from osteoarthritis and in need of effective pain management therapies like viscosupplementation. The growing obesity rates are also contributing to the market growth by increasing the risks of developing knee osteoarthritis.
PEST Analysis
Political: The US viscosupplementation market is governed by stringent regulations set by regulatory bodies like the FDA. Any new products need to undergo a thorough clearance process.
Economic: Being one of the largest economies in the world, the US has a considerable spending power on healthcare. Rising obesity levels and aged population contribute to the higher disease burden, augmenting market growth.
Social: Growing awareness among people about the benefits of viscosupplementation therapy for osteoarthritis treatment is a major factor driving the market. Their willingness to opt for minimally invasive procedures further supports industry expansion.
Technological: Developments in formulations that can deliver long-lasting pain relief are attracting more patients to viscosupplementation. Companies are developing single-injection therapies utilising advanced carrier systems for prolonged drug release.
The US viscosupplementation market is highly concentrated in regions with sizeable elderly populations such as the Western and Eastern regions. States like California, Florida, New York and Pennsylvania account for over 40% of the national market value due to their demographics.
The Southern region consisting of states like Texas, North Carolina and Georgia is showing fastest growth rates above the national average. An increasing healthcare expenditure and better access to services is helping expand the viscosupplementation patient pool in these states at a swift pace.
*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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