Viscosupplementation is a therapy used for arthritis including osteoarthritis of the knee. It involves injecting hyaluronic acid or its derivatives into the knee joint to supplement the fluid existing there and act as a lubricant and shock absorber. Commonly used products include Synvisc, Orthovisc, and Euflexxa. Viscosupplementation offers pain relief and improved mobility for knee osteoarthritis patients without invasive surgery. The global viscosupplementation market is estimated to be valued at US$ 3,146.7 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics: The viscosupplementation market is driven by the rising prevalence of osteoarthritis globally. As per Arthritis Foundation, knee osteoarthritis affects approximately 14 million adults in the US. The risk factors that increase chances of developing knee osteoarthritis include older age, obesity, previous injury, genetics, etc. Increasing geriatric population coupled with rising obesity rates have led to surge in number of osteoarthritis patients worldwide. This has boosted the demand for viscosupplementation as it can help relieve pain and improve mobility without surgery. Further, advancements in product formulations like cross-linked hyaluronic acid have expanded efficacy and duration of viscosupplementation therapy, fueling market growth.

SWOT Analysis
Strength: Viscosupplementation offers a non-surgical treatment option for osteoarthritis of the knee which helps improve joint mobility and reduces pain. It involves injecting hyaluronic acid into the knee joint space to supplement healthy fluid lost in arthritic joints. The treatment is relatively non-invasive compared to knee replacement surgery and provides short term pain relief for 6-12 months.

Weakness: Viscosupplementation injections require multiple doses over periods of weeks or months for full effectiveness which can be inconvenient for patients. The treatment effectiveness may also vary between individuals depending on the severity of their osteoarthritis condition. In some cases, patients may experience minimal or no pain relief from the injections.

Opportunity: Rising geriatric population worldwide who are prone to osteoarthritis and joint problems creates a growing patient pool for viscosupplementation treatment. Emergence of combination therapies involving viscosupplementation along with other pain relief medications and lifestyle changes can enhance treatment outcomes. Product innovations to develop cross-linked hyaluronic acid formulations providing extended relief duration also present opportunities.

Threats: Presence of alternative non-invasive treatment options like stem cell therapy and orthobiologics poses competition in the market. Reimbursement issues in some regions limit widespread adoption of viscosupplementation.

Key Takeaways
The global viscosupplementation market is expected to witness high growth over the forecast period of 2023 to 2030 supported by an aging population and rising obesity rates driving osteoarthritis incidence. The market size is projected to reach US$ 3,146.7 Mn by 2024, rising at a CAGR of 8.2% during the forecast period.

Regional analysis: North America currently dominates the market owing to advanced healthcare systems and availability of reimbursement for viscosupplementation treatment in the region. However, Asia Pacific is expected to be the fastest growing market during the forecast period supported by improving access to healthcare and rising medical tourism in countries like India, China and South Korea.

Key players: Key players operating in the viscosupplementation market are Anika Therapeutics Inc., Seikagaku Corporation, Ferring Pharmaceuticals, Bioventus, Fidia Farmaceutici S.P.A., Mylan N.V., Sanofi S.A., OrthogenRx, Teva Pharmaceutical Industries Ltd, and Johnson & Johnson.