The United States of America viscosupplementation market is a fast-growing segment in the healthcare industry. Viscosupplementation involves injecting hyaluronic acid into the knee joints of patients suffering from osteoarthritis. It works by lubricating the joints and cushioning the cartilage to relieve pain. The demand for viscosupplementation has increased in the country owing to the rising geriatric population suffering from osteoarthritis. It is a minimally invasive procedure compared to total knee replacement surgery, making it a preferable treatment option.
The United States of America Viscosupplementation Market is estimated to be valued at USD 1.54 Bn in 2024 and is expected to reach USD 2.87 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Key Takeaways
Key players operating in the United States of America viscosupplementation market are Johnson & Johnson., F. Hoffmann-La Roche AG, Zimmer Biomet, Sanofi S.A., Anika Therapeutics Inc. The market is dominated by large players with strong foothold and distribution channels across the country.
The key opportunities in the market include increased insurance coverage for United States Viscosupplementation Market and higher adoption rates in Tier 2 & 3 cities. The market players are focusing on expanding insurance coverage and working with local doctors to generate awareness about viscosupplementation therapy.With rising awareness and favorable reimbursement policies, the global expansion of viscosupplementation market is expected to be robust over the forecast period. The key players are focusing on partnerships and acquisition strategies to penetrate developing Asian and Latin American countries.
Market DriversThe rising prevalence of osteoarthritis in the country due to increasing risk factors like obesity, physical inactivity, etc. is the major driver for this market. It is estimated that over 30 million adults are suffering from osteoarthritis in the United States. With rising life expectancy, the geriatric population at risk of osteoarthritis will continue to increase, driving the demand for minimally-invasive viscosupplementation treatments.
PEST AnalysisPolitical: The viscosupplementation market in the United States is subject to regulations on drug development and approvals by the Food and Drug Administration (FDA). The FDA approvals required for viscosupplementation drugs can impact the timely development of new products.
Economic: Factors such as rising healthcare expenditure, increase in aging population suffering from osteoarthritis (OA), and availability of reimbursement policies for viscosupplementation procedures drive the US market.
Social: Growing awareness among people about treatment options for OA and non-invasive nature of viscosupplementation is increasing its acceptance over other alternative treatments such as medication and surgery.
Technological: Advancements in hybrid orthopedic medical devices as well as introduction of single and triple injection viscosupplementation therapies are expanding treatment options for patients. In addition, 3D printing technologies are being explored for development of patient-customized viscosupplementation therapies.The United States viscosupplementation market is concentrated in regions with higher elderly population suffering from OA such as the Midwest, South, and West coastal states. These regions account for over 65% of the total viscosupplementation procedures performed annually in the country. The Northeast region, while having a smaller elderly population size, has been witnessing fastest adoption of new viscosupplementation therapies and is expected to be the fastest growing market during the forecast period.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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