Viscosupplementation Market Generate the Highest Revenue in The Global Viscosupplementation Industry
Viscosupplementation Market Generate the Highest Revenue in The Global Viscosupplementation Industry
Published by Coherent Market Insights
Posted on September 16, 2021
Viscosupplementation is a minimally invasive procedure that helps reduce joint pain and improves the functional condition of the osteoarthritic joint. It is a treatment in which a thick fluid named hyaluronate or hyaluronic acid is injected into the knee joint Hyaluronic acid is distributed throughout the body in epithelial, connective tissues, and neural tissues to promote better joint development and lubrication. Osteoarthritis is a type of arthritis that occurs when the flexible tissue at the ends of bones begins to wear down. Moreover, osteoarthritis is the most common form of arthritis in the world. It can be classified into 2 categories such as primary and secondary osteoarthritis.
Osteoarthritis is characterized by loss of function and degeneration of cartilage and tissues that cover the ends of the bones in a joint. There is not a complete cure for osteoarthritis, hyaluronic acid is thought to improve the lubricating properties of the synovial fluid, provide a more comfortable level of activity, improve mobility, and reduce the pain from osteoarthritis of the knee. The increasing prevalence of osteoarthritis is expected to increase the demand for viscosupplementation products, which is expected to drive the viscosupplementation market growth. According to the World Health Organization (WHO), around 9.6% of men and 18.0% of women aged 60 years and above have symptomatic osteoarthritis worldwide. However, the number is expected to increase due to the growing geriatric population and the obesity epidemic.
Moreover, novel biomimetic polymer viscosupplements are rapidly replacing in-development osteoarthritis joint injections, and thus, key players are focused on increasing research and development in biocompatible polymers. These polymers are widely used in the Food and Drug Administration (FDA) approved stents, surgical meshes, and contact lenses, and help prevent degradation associated with hyaluronate. Furthermore, the viscosupplementation market is expected to witness robust growth in 2021 with a somewhat recovery of emerging and developed economies from the global pandemic (COVID-19).
In terms of geography, the market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Osteoarthritis is the most common joint disorder in the United States. The increasing prevalence of lifestyle-induced disorders, increasing demand for non-surgical treatments for osteoarthritis, and technological advances in the development of hyaluronic acid-based therapies are some of the factors expected to foster the viscosupplementation market growth. For instance, in 2019, Anika Therapeutics showcased HYALOFAST, a biodegradable, hyaluronic acid-based scaffold for cartilage repair at the 2019 International Cartilage Regeneration and Joint Preservation Society (ICRS) Focus Meeting.
Viscosupplementation is done on an outpatient basis. It has low recovery time, which makes it best fit for the patients who want to resume work as soon as possible.Viscosupplementation is a convenient procedure for both elderly and young people as the procedure uses single-injection treatments, which helps improve patience compliance.
The European market for viscosupplementation products is fairly mature. In fact, at the global level, the market is now saturated with various categories of HA-based products with changes in their molecular weight. The new trend in this industry is the introduction of new combination products in the market. The product pipeline of major players involves the combination of HA and corticosteroid-based injections, which combine the pain relieving effect of corticosteroids with the long lasting effect of HA that lasts for nearly 6 months.
Regulations
Medical Device Type:
As per European guidelines, viscosupplementation products are classified as Class III type
Definition of Class III: A medical device incorporating medical substance as an integral part, where the action of the medical substance is ancillary
This class is categorized as high risk and premarket approval is required
Parameters considered in Europe:
Standard for approval: Safety and technical performance
Evidences required: Limited data is sufficient, which includes literature review, laboratory testing, and small clinical trials
Approval granted by: Notified bodies including private organizations recognized by EFTA countries. Approval by any notified body authorizes and marketing of the product throughout EU.
Transparency of approval: Neither approval data nor evidence-based data is disclosed to public
Post approval requirements: Side effects are reported to notified bodies and not to any government body
Europe Viscosupplementation Market: Competitive Landscape
Major players operating in Europe Viscosupplementation market include, Sanofi S.A., Anika Therapeutics, Inc., Seikagaku, Zimmer Biomet Holdings Inc., Meda AB (Mylan), Fidia Farmaceutici S.p.A., Bioventus LLC, Ferring B.V, Lifecore Biomedical, and LG Life Sciences.
Europe Viscosupplementation Market: Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in December 2019, Fidia Farmaceutici S.p.A. launched TRILURON (sodium hyaluronate), a HA-based intra-articular viscosupplement indicated for the treatment knee OA.
Major players in the market are focused on adopting various strategies to enhance their market share. For instance, in November 2019, Anika Therapeutics Inc. participated in the MEDICA 2019 International Trade Fair (Germany) and the International Cartilage Regeneration and Joint Preservation Society Focus Meeting (Austria).
Contact:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837
Viscosupplementation is a minimally invasive procedure that helps reduce joint pain and improves the functional condition of the osteoarthritic joint. It is a treatment in which a thick fluid named hyaluronate or hyaluronic acid is injected into the knee joint Hyaluronic acid is distributed throughout the body in epithelial, connective tissues, and neural tissues to promote better joint development and lubrication. Osteoarthritis is a type of arthritis that occurs when the flexible tissue at the ends of bones begins to wear down. Moreover, osteoarthritis is the most common form of arthritis in the world. It can be classified into 2 categories such as primary and secondary osteoarthritis.
Osteoarthritis is characterized by loss of function and degeneration of cartilage and tissues that cover the ends of the bones in a joint. There is not a complete cure for osteoarthritis, hyaluronic acid is thought to improve the lubricating properties of the synovial fluid, provide a more comfortable level of activity, improve mobility, and reduce the pain from osteoarthritis of the knee. The increasing prevalence of osteoarthritis is expected to increase the demand for viscosupplementation products, which is expected to drive the viscosupplementation market growth. According to the World Health Organization (WHO), around 9.6% of men and 18.0% of women aged 60 years and above have symptomatic osteoarthritis worldwide. However, the number is expected to increase due to the growing geriatric population and the obesity epidemic.
Moreover, novel biomimetic polymer viscosupplements are rapidly replacing in-development osteoarthritis joint injections, and thus, key players are focused on increasing research and development in biocompatible polymers. These polymers are widely used in the Food and Drug Administration (FDA) approved stents, surgical meshes, and contact lenses, and help prevent degradation associated with hyaluronate. Furthermore, the viscosupplementation market is expected to witness robust growth in 2021 with a somewhat recovery of emerging and developed economies from the global pandemic (COVID-19).
In terms of geography, the market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Osteoarthritis is the most common joint disorder in the United States. The increasing prevalence of lifestyle-induced disorders, increasing demand for non-surgical treatments for osteoarthritis, and technological advances in the development of hyaluronic acid-based therapies are some of the factors expected to foster the viscosupplementation market growth. For instance, in 2019, Anika Therapeutics showcased HYALOFAST, a biodegradable, hyaluronic acid-based scaffold for cartilage repair at the 2019 International Cartilage Regeneration and Joint Preservation Society (ICRS) Focus Meeting.
Viscosupplementation is done on an outpatient basis. It has low recovery time, which makes it best fit for the patients who want to resume work as soon as possible.Viscosupplementation is a convenient procedure for both elderly and young people as the procedure uses single-injection treatments, which helps improve patience compliance.
The European market for viscosupplementation products is fairly mature. In fact, at the global level, the market is now saturated with various categories of HA-based products with changes in their molecular weight. The new trend in this industry is the introduction of new combination products in the market. The product pipeline of major players involves the combination of HA and corticosteroid-based injections, which combine the pain relieving effect of corticosteroids with the long lasting effect of HA that lasts for nearly 6 months.
Regulations
Medical Device Type:
As per European guidelines, viscosupplementation products are classified as Class III type
Definition of Class III: A medical device incorporating medical substance as an integral part, where the action of the medical substance is ancillary
This class is categorized as high risk and premarket approval is required
Parameters considered in Europe:
Standard for approval: Safety and technical performance
Evidences required: Limited data is sufficient, which includes literature review, laboratory testing, and small clinical trials
Approval granted by: Notified bodies including private organizations recognized by EFTA countries. Approval by any notified body authorizes and marketing of the product throughout EU.
Transparency of approval: Neither approval data nor evidence-based data is disclosed to public
Post approval requirements: Side effects are reported to notified bodies and not to any government body
Europe Viscosupplementation Market: Competitive Landscape
Major players operating in Europe Viscosupplementation market include, Sanofi S.A., Anika Therapeutics, Inc., Seikagaku, Zimmer Biomet Holdings Inc., Meda AB (Mylan), Fidia Farmaceutici S.p.A., Bioventus LLC, Ferring B.V, Lifecore Biomedical, and LG Life Sciences.
Europe Viscosupplementation Market: Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in December 2019, Fidia Farmaceutici S.p.A. launched TRILURON (sodium hyaluronate), a HA-based intra-articular viscosupplement indicated for the treatment knee OA.
Major players in the market are focused on adopting various strategies to enhance their market share. For instance, in November 2019, Anika Therapeutics Inc. participated in the MEDICA 2019 International Trade Fair (Germany) and the International Cartilage Regeneration and Joint Preservation Society Focus Meeting (Austria).
Contact:
Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Email: sales@coherentmarketinsights.com United States of America: +1-206-701-6702 United Kingdom: +44-020-8133-4027 Japan: +050-5539-1737 India: +91-848-285-0837