The Localized Temperature Therapy Products Market is witnessing substantial growth, driven by a confluence of technological advancements and a growing focus on non-invasive therapeutic solutions. These products, designed to provide targeted temperature management for various medical conditions, are gaining prominence across healthcare settings.Approximately US$ 2.09 billion was generated by knee hyaluronic acid injection market in 2023, as per the most recent Future Market Insights survey insights. By 2033, knee hyaluronic acid injection sales are projected to reach US$ 3.40 billion, growing at a 5% CAGR.
The knee hyaluronic acid injections market is a segment of the medical industry that focuses on the production, distribution, and usage of hyaluronic acid-based injections for the treatment of knee osteoarthritis and related conditions. Hyaluronic acid is a naturally occurring substance in the synovial fluid of joints that helps lubricate and cushion the joints. When injected into the knee joint, it can provide relief from pain and improve joint mobility for patients with osteoarthritis.
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Rapidly growing ageing population and prevalence of obesity worldwide have led to significant rise in knee osteoarthritis cases. As per Centers for Disease Control and Prevention (CDC), osteoarthritis being the most common form of arthritis, has affected over 32.5 million US adults in 2019.
People suffering from arthritis have concerns regarding knee arthroplasty surgery and associated post-operational complications. High cost of treatment and longer hospital stays have further caused increased preference of minimally invasive surgical procedures which has minimum risks, low cost and lesser hospital stay. This is projected to increase the preference of the knee hyaluronic acid injections in order to avoid or delay knee surgical procedures.
Companies specializing in knee hyaluronic acid injections have been focusing on developing products with superior efficacy, lesser side effects and minimum patient discomfort. Knee hyaluronic acid injection product portfolio offering single, three and five injection knee hyaluronic injections along with combination injections maximizes the efficacy for upto 6 or more months in the treatment of knee osteoarthritis.
Presently, the ageing population around the world are more involved in their well-being while focusing on nutrition and self-care solutions with high quality yet affordable price. Increase in consumer spending, improved healthcare infrastructure, rising government and industry investments in research and developments is expected to stimulate market by early diagnosis, accessibility and patient affordability. All these factors are expected to create demand for knee hyaluronic acid injections market.
“Increasing number of geriatric population and rising consumer spending on osteoarthritis are expected to increase the growth of knee hyaluronic acid injections market during the forecast period,“ says a FMI analyst.
- By product, three injection knee hyaluronic acid injections is the most lucrative segment in terms of revenue and anticipated to increase at a CAGR of more than 4% over 2021-2031.
- Among end users, ambulatory surgical centers and orthopedic clinics segment are collectively leading the market and expected to gain more than 50% of revenue share over the forecast period.
- North America will continue dominating the global knee hyaluronic acid injections market in terms of revenue in 2021, followed by Europe region.
- India is the dominant country in term of revenue for South Asia Knee Hyaluronic Acid Injections market accounting for over 70% of Market value share in 2021.
- Japan holds leading position in East Asia and is expected to account for nearly 50% of market share.
- Anika Therapeutics Inc. (DePuy Synthes Inc.)
- Seikagaku Corporation
- Zimmer Biomet
- Institut Biochimique SA (Bioventus LLC)
- Fidia Farmaceutici S.p.A
- Meiji Seika Pharma Co. Ltd. (OrthogenRx)
- Ferring B.V.
- Viatrus Inc.
- Hanmi Pharm Co. Ltd. (Teva Pharmaceuticals Industries Ltd.)
- Chugai Pharmaceuticals Co. Ltd.
- Haohai Biological Technology
- Hunan Jingfeng Pharmaceutical Co. Ltd.
- SciViscion Biotech Inc. (MACO PHARMA S.A.S)
- BioPolymer GmbH & Co. KG
- TRB Chemedica International SA
- MDT Int’l S. A.
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Knee Hyaluronic Acid Injections Market by Category
- Single Injection Knee Hyaluronic Acid Injections
- Three Injection Knee Hyaluronic Acid Injections
- Five Injection Knee Hyaluronic Acid Injections
- Next Generation (Steroid Combination)
By End User:
- Ambulatory Surgical Centers
- Orthopaedics Clinics
- Retail Pharmacies
- Online Sales
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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