The Knee Hyaluronic Acid Injections Market revenue totaled USD 2.09 billion in 2023, according to the latest insights by Future Market Insights survey. The overall sales of knee hyaluronic acid injections are expected to reach USD 3.40 billion, with growth at a CAGR of 5% by 2033.
With increasing awareness, the demand for various healthcare management programs and the availability of minimally invasive treatment options are rising. The increasing investment in technological advancements and novel product lines is expected to improve sales in the market at an accelerated pace.
How is the Adoption of Knee Hyaluronic Acid Injections Aiding Market Growth?
Rising health-related issues associated with obesity and aging, such as joint injury and knee osteoarthritis, have been of major concern. Knee osteoarthritis can bring immense pain to patients as they grow old and can result in causing further disability if left untreated. Thus, the need for increased medical care and improved healthcare services has also grown.
According to a study by NCBI, obesity is a major risk factor for osteoarthritis. It also revealed a prevalence of 22.9% of osteoarthritis in obesity surgery patients. Around 39.5 million United States adults were affected by osteoarthritis in 2019, as per Centers for Disease Control and Prevention (CDC) statistics.
The knee hyaluronic acid injection market plays a huge role as an alternative to knee arthroplasty surgery, which is expensive and has certain post-operation complications.
The rapid development and commercialization of knee hyaluronic acid injections owing to the factors like superior efficacy, lesser side effects, and minimum patient discomfort give a great opportunity for this market, as the increasing number of osteoarthritic-affected patients are seeking a safe procedure that is affordable yet effective.
What are the Key Opportunities for Market Players?
As the number of osteoarthritic patients increases, so is the demand for solutions that can relieve the patients of the pain caused by the disease. Knee hyaluronic acid injection, also called viscosupplementation, is a successful procedure that helps improve the lubrication in synovial fluid. Thereby relieving pain and providing a comfortable activity level due to improved mobility.
FDA approvals for Knee hyaluronic acid injections and ongoing trials for new novel products in this segment are expected to provide great opportunities for the market players shortly.
Challenges in the Knee Hyaluronic Acid Injections Market?
Although viscosupplementations provide benefits such as greater efficacy and faster recovery timing, certain side effects are associated with these injections. These effects are usually mild and do not last for long durations and include temporary pain on the injection site, itching, redness, swelling, bruising around the joint, and fluid accumulation in the injected knee.
Stringent reimbursement policies in developed and emerging regions to consider Sodium Hyaluronic acid injections as a better treatment option, limitation of treatment cycle frequency, and funding provisions by organizations for the same can act as another challenge.
Despite claims and reasonable clinical evidence from manufacturers of efficacy and specific product advantages, many end-users remain doubtful that Knee Hyaluronic Acid Injections are an effective treatment for knee osteoarthritis.
Therefore, the confidence of physicians and consultant doctors must be increased by providing them with detailed clinical studies and data that are specially designed to address these concerns.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 5% |
| Market Valuation (2023) | USD 2.09 billion |
| Market Valuation (2033) | USD 3.40 billion |
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As per Future Market Insights (FMI), the global market grew at a steady CAGR of 5% between 2018 and 2022. The market captured a valuation of USD 1.64 billion
in 2018 and USD 1.99 billion in 2022.
The knee hyaluronic acid injection market has seen incremental growth. It is expected to continue exhibiting a positive trajectory owing to an increasing preference for self-care and at-home healthcare practices for the aged population.
The availability of alternatives for high-cost knee osteoarthritis surgery with low-cost yet affordable options is driving current sales figures. Expansion and product launches in emerging markets are other key factors promoting market growth.
Commercializing highly superior and efficacious knee hyaluronic acid injections for knee osteoarthritis and the shifting trend of preferring single-injection-based knee hyaluronic acid injections over repeated injection regimes has shown a positive pattern.
Active engagement of companies in strategizing business opportunities through acquisitions and partnerships to strengthen their portfolio is likely to boost the market in the coming years.
Three-injection knee hyaluronic acid injections are leading the market at the global level and are estimated to gain nearly half of the market revenue share in the forecasted period. Major contributing factors include high affordability compared to the single-injection, while better efficacy and minimum side effects when compared to five-injection knee hyaluronic acid injections.
Ambulatory Surgical Centers is expected to be the most lucrative segment compared to the hospital segment in terms of market share and is expected to grow at a CAGR of over 5% through 2033.
The push towards price transparency enables patients to shop for low-cost, high-quality care; new technological innovations allow more orthopedic procedures to be conducted in the outpatient setting. Improving healthcare infrastructure is thus expected to boost the knee hyaluronic acid injection market in developed and emerging markets.
Principal Consultant
FMI Analysis reveals that North America dominated the revenue of the global knee hyaluronic acid injections market. In contrast, the United States market is expected to account for over 90% of the market share in 2023. It is further anticipated to grow at a CAGR of over 4% through 2033.
The dominance is driven by higher health awareness amongst the public and a focus on enhancing healthcare services by healthcare providers. Due to the rise in outpatient healthcare services models with a minimum cost of treatment and the nature of Knee Hyaluronic Acid Injections treatment patterns for Knee Osteoarthritis, Ambulatory surgical centers are the most lucrative segment in this region.
Germany is expected to account for over 19% of the Europe market in 2023, followed by the United Kingdom, with over 16% of the market share.
According to the Journal of Health Monitoring- 2017, individuals aged 65 and over accounted for osteoarthritis, including nearly half of all women and one-third of men. The prevalence of osteoarthritis is expected to increase further owing to the population aging in Germany.
Knee Hyaluronic acid injection treatment, thus, has huge potential in this region. It provides a rewarding opportunity to the players serving in this market during the forecast period.
The market for knee hyaluronic acid injections in East Asia is estimated to exhibit a 5.2% CAGR during the forecast period, with Japan dominating this region. Japan is expected to account for over 48% of the East Asia market share in revenue in 2023.
Reimbursement coverage policy for knee hyaluronic acid injections and provisions for uniform and affordable healthcare benefits packages and programs are expected to drive the market in the future.
Additionally, players are entering into new product launches and manufacturing and marketing collaborations as strategies to expand their service offerings, which is likely to augment market growth in Japan.
Manufacturers of knee hyaluronic acid injections aim to carry out strategic expansions through mergers and acquisitions, Product Out- Licensing, and exclusive distribution to consolidate growth in a competitive market.
The market is highly competitive by the present key players globally. These players are developing unique and innovative products to attract consumers' requirements. These players focus on consumers' desires and offer improved products.
The key players are adopting strategies to upsurge the global market are mergers, acquisitions, partnerships, collaborations, and product launches. They continue to fuel the global market through their innovations and invest huge amounts in research and development activities. These players are reaching more audiences by attending seminars, exhibitions, and trade shows.
Other Essential Players in the Global Market are:
Recent Developments in the Global Market are:
In May 2021, Ono and Seikagaku announced a manufacturing and marketing approval in Japan for JOYCLU® 30mg intra-articular injection, a joint function improvement agent, for the indication of osteoarthritis (Knee Joint and Hip Joint).
Seikagaku also entered into exclusive marketing and distribution agreements in all commercialized markets with leading players such as Zimmer Biomet (USA), MDM S.p.A. (Italy), Kaken Pharmaceutical Co. (Japan), and Kunming Baker Norton Pharmaceutical Co. Ltd. (China).
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Product Type, End User, Region |
| Key Companies Profiled | Sanofi; Anika Therapeutics Inc. (DePuy Synthes Inc.); Seikagaku Corporation; Zimmer Biomet; Institut Biochimique SA (Bioventus LLC); Fidia Farmaceutici S.p.A; Meiji Seika Pharma Co. Ltd. (OrthogenRx); Ferring B.V.; Viatrus Inc.; Hanmi Pharm Co. Ltd. (Teva Pharmaceuticals Industries Ltd.); Chugai Pharmaceuticals Co. Ltd.; Haohai Biological Technology; Hunan Jingfeng Pharmaceutical Co. Ltd.; SciViscion Biotech Inc. (MACO PHARMA S.A.S); BioPolymer GmbH & Co. KG; TRB Chemedica International SA; MDT Int’l S. A. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is estimated to be about USD 2.09 billion in 2023.
Demand for solutions that can relieve the patients of the pain caused by the disease is increasing with the number of osteoarthritic patients.
The market advanced at a CAGR of 5% between 2018 and 2022.
The United States market is expected to account for over 90% of the market share in 2023.
Seikagaku Corporation, Zimmer Biomet, and Institut Biochimique SA (Bioventus LLC) are some key players in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Single Injection Knee Hyaluronic Acid Injections 5.2. Three Injection Knee Hyaluronic Acid Injections 5.3. Five Injection Knee Hyaluronic Acid Injections 5.4. Next Generation (Steroid Combination) 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 6.1. Hospitals 6.2. Ambulatory Surgical Centers 6.3. Retail Pharmacies 6.4. Online Sales 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Sanofi 17.2. Anika Therapeutics Inc. (DePuy Synthes Inc.) 17.3. Seikagaku Corporation 17.4. Zimmer Biomet 17.5. Institut Biochimique SA (Bioventus LLC) 17.6. Fidia Farmaceutici S.p.A 17.7. Meiji Seika Pharma Co. Ltd. (OrthogenRx) 17.8. Ferring B.V. 17.9. Viatrus Inc. 17.10. Hanmi Pharm Co. Ltd. (Teva Pharmaceuticals Industries Ltd.) 17.11. Chugai Pharmaceuticals Co. Ltd. 17.12. Haohai Biological Technology 17.13. Hunan Jingfeng Pharmaceutical Co. Ltd. 17.14. SciViscion Biotech Inc. (MACO PHARMA S.A.S) 17.15. BioPolymer GmbH & Co. KG 17.16. TRB Chemedica International SA 17.17. MDT Int’l S. A. 18. Assumptions & Acronyms Used 19. Research Methodology
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Knee Hyaluronic Acid Injections Market
