Market Trends of Global Joint Pain Injections Industry
This section covers the major market trends shaping the Joint Pain Injections Market according to our research experts:
Hyaluronic Acid Injections Segment is Expected to Witness Growth Over The Forecast Period.
Injections of hyaluronic acid are used to relieve osteoarthritis (OA)-related knee pain in patients who have already tried unsuccessful therapies such as acetaminophen and other painkillers. Hyaluronic acid injections have gained popularity as a non-surgical therapeutic option, particularly in light of clinicians' general reluctance to provide intraarticular corticosteroid injections repeatedly.
The market players are extensively focusing on developing novel products with many advantages and launching products frequently. For instance, In August 2021, Seikagaku Corporation launched HyLink, an intra-articular single-injection Visco supplement for the treatment of knee osteoarthritis in Taiwan, through TCM Biotech International Corp. The main ingredient is a cross-linked hyaluronate hydrogel using cross-linking technology. The launches are anticipated to augment the segment growth over the forecast period.
North America is Expected to Dominate the Joint Pain Injections Market Over The Forecast Period
North America is expected to dominate the market due to the high prevalence of musculoskeletal disorders, growing geriatric population, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the region.
According to the Centers for Disease Control and Prevention (CDC), chronic pain caused by arthritis affects millions of people in the United States every year. About one in four adults with arthritis, 15 million people report experiencing severe joint pain related to arthritis. A high adoption rate of advanced technologies is also the factor driving the growth of the market in this region. Additionally, major market players are making considerable investments in research activities, which will eventually boost the market in North America.
According to Population Reference Bureau, 2021 estimates, it is predicted that there are likely to be 95 million Americans aged 65 and over by 2060, contributing 23% of the total population. Also, as per the Statistics Canada, 2021 census, in Canada, there was an estimated 7,021,430 people aged 65 years or above in 2021, out of which 3,224,680 were males and 3,796,750 were female. The surge in geriatric population is likely to boost the demand for joint pain injections and thus boosts the growth of the market in the region.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
