Viscosupplementation Market To Fuel Industry Demand At USD 9.14 Billion By 2030Posted by Neha Bora on January 31st, 2024 San Francisco, 31 Jan 2024: The Report Viscosupplementation Market Size, Share & Trends Analysis Report By Product (Single Injection, Three Injection, Five Injection), By End-use (Hospitals, Orthopedic Clinics/ASCs), By Region (Asia Pacific, Europe), And Segment Forecasts, 2023 - 2030 The global viscosupplementation market size is expected to reach USD 9.14 billion by 2030 and is expected to grow at a CAGR of 9.58% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is driven by several key factors, including a rise in the elderly population, an increase in osteoarthritis cases among older individuals, and substantial investments in research and development. According to the CDC, approximately 25% of adults in the United States currently experience some type of arthritis, and this number is expected to reach 78 million by 2040. As a result, the demand for viscosupplementation is predicted to surge in the coming years. Furthermore, the market growth is being propelled by the increasing adoption of key strategies, such as acquisition, agreement, collaboration, and partnership, by companies. For instance, in December 2021, Avanos Medical, a medical technology company, acquired OrthogenRx, Inc., a trailblazer in viscosupplementation therapy for knee osteoarthritis treatment. The acquisition amounted to approximately USD 160 billion. Avanos utilizes FDA-approved products, such as TriVisc and GenVisc850, to provide effective solutions in this field. Moreover, favorable reimbursement policies with respect to the geriatric population are expected to act as an opportunity for market growth. Over the past few years, there has been a remarkable increase in the number of orthopedic surgeons in developing nations like South Korea, Russia, and China. This trend indicates significant growth potential in the Asia Pacific region, which boasts a large patient population and untapped opportunities when compared to the United States. Consequently, the introduction of new products by market players in Asian countries is anticipated to drive further growth in the market. Access Research Report of Viscosupplementation Market @ https://www.grandviewresearch.com/industry-analysis/viscosupplementation-market Viscosupplementation Market Report Highlights
Viscosupplementation Market Report Scope
List of Key Players in Viscosupplementation Market
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