Viscosupplementation Market will grow to $3.1B at a CAGR of 6.0% by 2023

The viscosupplementation space in the Middle East and Africa, which includes the five major markets of Egypt, Israel, Saudi Arabia, South Africa, and the United Arab Emirates, is set to grow from $23.3 million in 2016 to around $37 million by 2023.

June 23, 2017 /MarketersMedia/ —

“MediPoint: Viscosupplementation – Global Analysis And Market Forecasts to 2023” states that key drivers of the market include the rising prevalence of osteoarthritis due to increasing aging and obese populations, the evolving multimodal treatment paradigm for osteoarthritis, and patients seeking to delay knee replacement surgery in an effort to maintain an active lifestyle.

Companies discussed in this research are Anika Therapeutics, Ferring Pharmaceuticals, Fidia Farmaceutici and Sanofi. The viscosupplementation market is highly fragmented, with key players varying by region and country. In the Middle East and Africa, Sanofi, Ferring Pharmaceuticals, Anika Therapeutics, and Fidia Farmaceutici will dominate the field.

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Growth in the primary knee replacement market is likely to slow as patients increasingly seek conservative pain management options. Although these non-surgical treatments typically last only a few months, many patients willingly accept the durability tradeoff to avoid the cost and downtime associated with surgery.

Worldwide, more than 90% of prescriptions written for viscosupplementation are for the management of knee osteoarthritis. With increasing investigation and evidence mounting in support of the efficacy of this treatment modality for osteoarthritis patients, its potential use in additional patient populations and for other pathologies affecting the synovial joints is being investigated. However, the current rate of technology diffusion of hyaluronic acids for hip and shoulder osteoarthritis is still low and is limited to the self-pay market.

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Unlike most orthopedic device markets, the viscosupplementation space is largely populated by pharmaceutical companies. Although many companies maintain a direct presence in the markets they sell to, some have co-ordinated marketing and distribution partnerships with major orthopedic players in an effort to leverage geographical experience and existing relationship with surgeons.

South Africa represented the largest portion of the market in 2016, holding almost 65% of the regional revenue, and is expected to maintain this dominance through the forecast period. GlobalData also expects South Africa to be the fastest-growing market to 2023, at a CAGR of 5.3%, while the slowest growth will be observed in the UAE at a CAGR of 3.2%.

Scope of this research: Outlook of sales volume, pricing trends, revenue trends with 2016 as base year and forecasts until 2023, for viscosupplementation. Company share analysis in 2016, for viscosupplementation. Market insights and competitive assessment of the key players within the viscosupplementation market.

Reasons to buy: Identify the unmet needs and understand physician’s perceptions of the current viscosupplementation products. Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the global viscosupplementation market in the future. Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the performance of various competitors.

Contact Info:
Name: Diane Conrad
Organization: Market Insights Reports

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