The latest market report published by Credence Research, Inc. “Global Joint Pain Injections Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global joint pain injections market was valued at US$ 2,146.0 Mn in 2017, and is expected to reach US$ 4,888.5 Mn by 2026, expanding at a CAGR of 9.7% from 2018 to 2026.
Browse the full report Joint Pain Injections Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://bit.ly/2GDMz5l
As per the research findings of World Health Organization (WHO), approximately 150 disease and syndromes are categorized as musculoskeletal disorder. It has a huge negative impact on the socio-economic aspect of the patients. Bioventus got approval for its product Durolane in 2017 for treating knee osteoarthritis, similarly Flexion Therapeutics, Inc., received FDA approval in 2017 for its product Zilretta to overcome pain associated with osteoarthritis.
Hyaluronic acid injections are reigning the injection segment for joint pain injections market. Its inherent properties such as excellent lubrication and shock absorbing properties drastically reduce the joint stiffness and tenderness in osteoarthritis patients. Corticosteroid injections due to its anti-inflammatory properties are used as an adjuvant medications to provide short term relief in athletes experiencing joint sprains.
Knee and ankle joints are dominating the joint pain injections market. Significant rise in tenosynovitis and prolonged physical activity drive the market growth for ankle and knee joints. Rampant growth in production industry and increasing competition among athletes together bolster the market growth. Shoulder and elbow joint will gain huge revenue in the coming years on account of increasing utilization of electronic gadgets such as mobile phones, laptops and personal computer. Rising prevalence of rotator cuff injury further consolidate the shoulder and elbow joints market growth.
North America with a share of 34% is leading the regional segment for joint pain injections market. The major parameters responsible for its excellent market growth are rising prevalence of obesity and high acceptance of viscosupplementation in treating joint pains. Existence of pioneers such as Allergan, Inc., Sanofi S.A., Pfizer, Inc., etc. provide positive impetus to the joint pain injections market growth in North America region. Europe is in second position accounting for a share of 28% owing to the rising prevalence of osteoarthritis in geriatric population. Affordable reimbursement scenario further propel the market growth in Europe region. Asia Pacific represents 20% market share on account of increasing number of trauma and accident cases and rising prevalence of musculoskeletal disorders.
Pharmaceutical companies pioneering in the joint pain injections market are Allergan, Plc., Anika Therapeutics, Inc., Bioventus LLC., Chugai Pharmaceutical Co., Ltd., Flexion Therapeutics, Inc., Ferring B.V., Pfizer, Inc., Sanofi S.A., SEIKAGAKU Corporation and Zimmer Biomet Holdings, Inc.
Key Market Movements:
- Rising prevalence of osteoarthritis and rheumatoid arthritis in geriatric population worldwide
- Increasing demand for hyaluronic acid injections over other surgical procedures to overcome joint pain
- Affordable reimbursement scenario associated with joint pain injections