EUROPE VISCOSUPPLEMENTATION MARKET ANALYSIS

The Europe viscosupplementation market is estimated to be valued at US$ 279.9 million in 2023 and is expected to exhibit a CAGR of 5.3% during the forecast period (2023-2030).

Analysts’ Views on Europe Viscosupplementation Market:

Increasing prevalence of osteoarthritis, rising geratic population, increasing awareness about osteoarthritis, new product releases, and strategic efforts by prominent market competitors are favorably impacting the industry's growth. Viscosupplements available in the market have shown clinical efficacy and are proven to be the most effective treatment for knee osteoarthritis. Osteoarthritis is a chronic painful degenerative joint disease and is the leading cause of chronic disability. Furthermore, advancements in the development of hyaluronic acid-based therapies are some of the factors that are expected to drive the market.

Figure 1. Europe Viscosupplementation Market Share (%), by Type, 2023

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Europe Viscosupplementation Market– Driver

Increasing prevalence of osteoarthritis

Increasing prevalence of osteoarthritis is expected to propel growth of the Europe viscosupplementation market over the forecast period. For instance, according to an article published in the National Libarary of Medicine Journal in September 2022, reported the age-standardized point prevalence and annual incidence rates of  rheumatoid arthritis were 446.6 and 24.9 in 2021, which increased by 12.4% and 9.9% from 2001, respectively.

Increasing geriatric population

Increasing geriatric population is expected to aid in growth of the market during forecast period. As with advancing age the incidence of various auto-immune conditions, such as rheumatoid arthritis, increases which results in rise in testing volumes translating to higher demand for testing techniques for rheumatoid arthritis. As rheumatoid arthritis is mostly common among the old people, and the geriatric population has been increasing recently, the opportunities in the Europe viscosupplementation market are expected to be on the rise in the future. For instance, according to an article published in the World Health Organization in October 2022, reported 1 in 6 people in the world will be aged 60 years or over in 2030. the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.                                                   

Figure 2. Europe Viscosupplementation Market Value (US$ Million), By End User , 2023

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Europe Viscosupplementation Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However,the COVID-19 pandemic had a positive impact on the Europe Viscosupplementation market. For instance, according to an article published in 2021 on PubMed Central, “COVID-19 and osteoarthritis Crosstalk: Emerging Association, Therapeutic Options and Challenges”, explains that the management of osteoarthritis  patients in the COVID-19 context is a difficult task in and of itself. Even though online consultations are advisable with patients who are having stable osteoarthritis.

Europe Viscosupplementation Market Segmentation:

The Europe viscosupplementation market report is segmented into By Type,  By End User and By Country

By Type, the market is segmented into single injection cycle, three injection cycle and five injection cycle. Out of which, the Single Injection segment is expected to hold a dominant position in the Europe viscosupplementation market during the forecast period and this is attributed to the increasing awareness of regenerate the joint cartilage articular.

By End User, the market is segmented into hospitals, Ambulatory Surgery Centers (ASCs) and clinics. Out of which, the hospitals  is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of osteoarthritis (OA) of the knee.

Europe Viscosupplementation Market Cross Sectional Analysis:

Key players are manufacturing viscosupplementation with advanced technology is also expected to boost demand for cryotherapy technologies in Europe region. For instance, in November 2021, PHYSIOMED ELEKTROMEDIZIN AG, a manufacturer of products for physical and biomechanical diagnostics and therapy in the rehabilitation, sport and aesthetic medicine field in Europe, launched deep oscillation device which is decreases edema and reduces pain after overuse injuries and trauma. This promotes pain-free self-mobilization and enables active movements at an early stage.

Europe Viscosupplementation Market: Key Developments

In May 2022, United Rheumatology, the rheumatology care management organization empowering rheumatologists to advance the standard of care, and CreakyJoints, a support, education, advocacy, and research organization for people living with arthritis and rheumatic disease, announced a partnership to develop the Rheumatoid Arthritis Wellness Center, a digital resource, aimed at aiding those living with rheumatoid arthritis.

In March 2022, Sanofi S.A., a multinational pharmaceutical and healthcare company headquartered in Paris, France, and IGM Bioscience, an antibody medicines for the treatment of osteoarthritis (OA) of the knee, autoimmune and inflammatory diseases, and infectious diseases, announced the signing of an exclusive worldwide collaboration agreement to create, develop, manufacture, and commercialize IgM antibody agonists against three oncology targets and three immunology/inflammation targets. IgM antibodies represent a new class of potential therapeutics that combine the multi-valency of IgM antibodies possessing 10 binding sites compared to conventional IgG antibodies having only 2 target binding sites.

In October 2022, Anika Therapeutics, Inc., a integrated orthopedics medicines company specializing in therapeutics based on its proprietary hyaluronic acid ("HA") technology, announced Health Canada approval of CINGAL as a medical device to treat pain associated with osteoarthritis (OA) of the knee. CINGAL is the first and only approved combination viscosupplement formulated with the Company's proprietary cross-linked sodium hyaluronate (currently marketed as the single-injection viscosupplement MONOVISC) and triamcinolone hexacetonide, an FDA-approved steroid to treat inflammation.

In August 2021, Seikagaku Corporation, that makes and sells pharmaceuticals and medical devices related to glycoconjugates, announced the launch of HyLink, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis in Taiwan, through TCM Biotech International Corp. HyLink is an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis whose main ingredient is a cross-linked hyaluronate hydrogel made using Seikagaku’s unique crosslinking technology.

Europe Viscosupplementation Market: Key Trends

Viscosupplementation is done on an outpatient basis, It has low recovery time

Viscosupplementation is done on an outpatient basis, It has low recovery time is expected to propel growth of the Europe viscosupplementation market over the forecast period. Viscosupplementation is a convenient procedure for both elderly and young people as the procedure uses single-injection treatments, which helps improve patience compliance. For Instance, in July 2020, Amgen Amgen Inc. is a multinational biopharmaceutical company headquartered in Thousand Oaks, California, announced that the U.S. Food and Drug Administration (FDA) has approved the Repatha (evolocumab) Pushtronex system (on-body infusor with prefilled cartridge), monthly single-dose administration option. The Pushtronex system is a hands-free device designed to provide 420 mg of Repatha in a single dose. It has low recovery time, which makes it best fit for the patients who want to resume work as soon as possible.

Europe Viscosupplementation Market: Restraint

Side-Effects of Viscosupplementation

The wide ranges of viscosupplementation are used by professionals for performing osteoarthritis procedures on various patients of different age groups. The products are used for joint replacement, hip arthroscopy, and shoulder arthroscopy, among more. As viscosupplementation benefits the patients by maintaining their range of motion, flexibility, and movement, there are various health complications associated with it. Thus, side effects and complications associated with the use of viscosupplementation are hampering the demand for viscosupplementation in the market. For instance, in July 2021, according to an article published in the National Library of Medicine Journal reported, risks associated with hyaluronan are mild and similar to those of other viscosupplements, including allergies, injection site pain and inflammation, infection, and potential temporary arthritic flares. Other rare side effects include itching, numbness/tingling, headache, dizziness, and back pain

Europe Viscosupplementation Market - Key Players

Major players operating in the 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, OrthogenRx, Inc. (a subsidiary of AVNS), APTISSEN, Johnson & Johnson Services, Inc., Viatris Inc., IBSA Institut Biochimique SA, Ortobrand International, TRB CHEMEDICA SA, Teva Pharmaceutical Industries Ltd., Lifecore (a subsidiary of Landec Corporation), VIRCHOW BIOTECH, Zuventus HealthCare Ltd. (a subsidiary of Emcure Pharmaceuticals), and LG Life Sciences.

*Definition :Viscosupplements available in the market have shown clinical efficacy and are proven to be the most effective treatment for knee osteoarthritis. Osteoarthritis is a chronic painful degenerative joint disease and is the leading cause of chronic disability. Viscosupplementation is a procedure in which hyaluronic acid (HA) is injected into the knee joint for the treatment of osteoarthritis (OA) of the knee. HA is a naturally occurring glycosaminoglycan and an integral component of synovial fluid and cartilage matrix present in the joints.