In order to encourage better joint growth and lubrication, hyaluronic acid is injected into the knee joint during the minimally invasive treatment known as viscosupplementation. Also, it lessens discomfort and irritability and helps to improve osteoarthritis symptoms. Hyaluronic acid (HA) or hyaluronate is a non-sulfated glycosaminoglycan found in epithelial, connective, and neural tissues all over the body. Demand for viscosupplementation products is anticipated to increase as osteoarthritis becomes more common among individuals.
The market for Viscosupplementation is anticipated to reach US$ 3,146.7 million in 2022 and grow at a CAGR of 8.2% during the following five years (2022-2030).
Prominent Companies in the Viscosupplementation Industry:
1.Anika Therapeutics Inc.
Anika, a worldwide joint preservation firm founded in 1983, is dedicated to bringing significant improvements in early intervention orthopaedic care, including pain management for osteoarthritis, regenerative treatments, sports medicine, and Arthrosurface joint solutions. Anika is now joined by Arthrosurface and Parcus. with its main office in Bedford, Massachusetts. Its commitment to become a leader in orthopaedics' high-opportunity areas includes technology for bone-preserving joints, regenerative treatments for osteoarthritis, soft tissue repair, and osteoarthritis pain management.
2. Seikagaku Corporation
Seikagaku has two pharmaceutical production facilities in Japan and one endotoxin-detection reagent facility in the United States. High-purity hyaluronic acid and chondroitin sulphate are produced at the Kurihama Plant in the Kanagawa Prefecture for use as active medicinal components. Established on June 2nd, 1947, with a Japanese headquarters. Although the COVID-19 virus outbreak caused a delay in the extra Phase III clinical trial timetable, subject recruitment was finished in March 2022. The Firm intends to analyse the data and make plans for a new medication application after a one-year observation period.
3. Ferring Pharmaceuticals
A worldwide biopharmaceutical business based in Switzerland, Ferring Pharmaceuticals specialises in fields including urology, gastrointestinal, maternal health, and reproductive health. For more than 50 years, Ferring has been creating medications for mothers and infants. It was established in 1950 and has its headquarters in Saint-Prex, Switzerland. Ferring Pharmaceuticals announced on March 17, 2023 that it has successfully raised CHF 410 million through the sale of its second Swiss Franc Bond issuance. The bonds issued by Ferring Holding SA were divided into two tranches: CHF 160 million with an 8-year maturity to April 21, 2031, and CHF 250 million with a 4-year maturity to April 21, 2027, both having fixed coupon rates of 3.25% per annum. The securities will be listed on SIX Swiss exchange.
4. Bioventus Inc.
Innovations for Active Healing are created by Bioventus Inc., whose goal is to improve people's lives by assisting patients in getting back to living an active lifestyle. The company's products are targeted at three vertical markets: surgical solutions, restorative treatments, and pain management. Durham, North Carolina is home to Bioventus, which was founded in 2012. The firm employs more than 1,200 people globally, and Hoofddorp, The Netherlands, serves as its global headquarters. Moreover, Bioventus has offices in Mississauga, Ontario, Canada, Farmindale, New York, Valencia, Israel, and Memphis, Tennessee. Worldwide, Bioventus collaborates with patients, payers, and medical professionals.
Bioventus is a dependable partner for thousands of doctors throughout the world due to its adherence to high quality standards, dedication to evidence-based medicine, and strong ethical conduct. 500 individuals are employed at Bioventus along with a generated revenue of about $240 million yearly
5. Fidia Farmaceutici S.P.A.
A large product range focused mostly on hyaluronic acid (HA) in joint care, advanced wound care, ophthalmology, uro-gynecology, cosmetic and regenerative medicine is offered by an Italian multinational corporation with R&D, production, marketing, and sales skills. Fidia is a leader in the manufacturing of natural and functionalized HA, with a variety of molecular weight ranges (+1,100 patents), thanks to over 60 years of R&D. Production facilities, which are located in Italy, are subject to inspection and approval by important international health organisations, such as the US and Korean FDA, the Brazilian ANVISA and G-MED Notified Body, and they adhere to the toughest international laws and safety norms. Local partners in more than 100 countries throughout the world, as well as wholly-owned companies in the United States, Germany, Austria, Spain, France, Russia, Czech Republic, Slovakia, Romania, Egypt and Middle East , Fidia expand its global reach.
6. Mylan NV
A multinational manufacturer of speciality and generic medications, Mylan NV. The company maintains a speciality business specialising on respiratory, allergy, and mental treatments in addition to manufacturing active pharmaceutical ingredients. Mylan and Upjohn, a subsidiary of Pfizer that specialised in off-patent medications, joined in November 2020 to establish Viatris. Its headquarters are in Canonsburg, Pennsylvania, and it was established in 1961. Mylan now has over 40 production sites, with 21 of them in India.
7.Sanofi S.A.
Sanofi S.A. is a French pharmaceutical and healthcare multinational with its headquarters in Paris. The company was first founded in 1973, then in 1999 it combined with Synthélabo to become Sanofi-Synthélabo. Paris, France, serves as its headquarters. It conducts business across the Middle East, Africa, Asia-Pacific, Europe, and the Americas. Results from a promising Phase 3 trial were published on DECEMBER 21, 2022 in The New England Journal of Medicine. They showed that adults and adolescents receiving Dupixent® (dupilumab) 300 mg once a week experienced significant improvements in the signs and symptoms of eosinophilic esophagitis (EoE), which persisted for up to a year.
8.OrthogenRx, Inc
For a total of $160 million, OrthogenRx, Inc., an up-and-coming pioneer in viscosupplementation therapy for the management of knee osteoarthritis (OA) pain, will be acquired. The purchase price is made up of $130 million in cash at closing and an additional $30 million in contingent cash consideration, which is paid upon reaching growth targets for the business's commercial hyaluronic acid (HA) therapeutic products. Its headquarters are in Greater Philadelphia Region, Great Lakes, Northeastern US, and it was founded on September 10, 2012.
*Definition- Viscosupplementation is a minimally invasive procedure that involves injection of the hyaluronic acid injected into a knee joint to promote better joint development and lubrication.
