Pune, India, May 02, 2023 (GLOBE NEWSWIRE) -- The global joint pain injections market size was USD 4.79 billion in 2022. The market is projected to grow from USD 5.16 billion in 2023 to USD 9.20 billion by 2030, exhibiting a CAGR of 8.6% during the forecast period.
The rise in patients experiencing joint pain and its associated consequences is caused by osteoarthritis and musculoskeletal illnesses, which are becoming more common in the general population. One of the main causes of the expanding demand for intra-articular injections for the treatment of joint pain in developed and developing nations is the growing patient population's awareness of the condition and available treatment choices. Furthermore, the advantageous reimbursement practices in industrialized nations are to blame for the rising number of therapies. The demand for joint injections is also rising as people become more aware of the advantages of intra-articular injections in treating joint pain. Fortune Business Insights presents this information in their report titled "Global Joint Pain Injections Market, 2023–2030."
Request a Free Sample PDF: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/joint-pain-injections-market-100871
Key Industry Development:
November 2022 – Anika Therapeutics Inc. reported positive results for its Cingal from its phase III study evaluating the safety of repeat injections of CINGAL for symptomatic relief of knee osteoarthritis pain.
Report Scope:
Report Coverage | Details |
Forecast Period | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR | 8.6% |
2030 Value Projection | USD 9.20 Billion |
Base Year | 2022 |
Market Size in 2023 | USD 5.16 Billion |
Historical Data | 2019 to 2021 |
No. of Pages | 144 |
Key Takeaways:
- Lower selling prices of the injections by the online pharmacies is major factor responsible for the growth of the segment.
- North America dominated the global market in 2022, with a valuation of USD 2.15 billion
- The increasing cases of arthritis and the rising adoption of technologically advanced solutions for pain management drive the market growth in the near future.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/joint-pain-injections-market-100871
Drivers & Restraints:
Increasing Osteoarthritis and Obesity Rates in the Population will Surge Product Demand
The global increase in senior population and the adoption of a sedentary lifestyle in both developed and developing nations have contributed to the rapid growth in the prevalence of osteoarthritis and other musculoskeletal problems.
The world's population of people 65 and older is expected to grow from 727.0 million in 2020 to 1.5 billion in 2050, according to the UN. Moreover, the World Health Organization (WHO) estimates that between 10.0% and 15.0% of all persons over the age of 60 have osteoarthritis. As a result, there is a sizable patient population with osteoarthritis, and there is increased awareness of the importance of early detection and treatment, which is surging the demand for pain relief products such as injections for joint pain.
Intra-articular injection demand is growing due to rising healthcare per capita costs in industrialized nations and new product introductions by industry participants.
On the contrary, the patient population's growing knowledge of less expensive options for pain management is expected to stifle the joint pain injections market growth
Quick Buy Joint Pain Injections Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100871
Segments:
Clinically Validated Advantages Boost Preference for HA-Based Injections Worldwide
Based on product, the market is segmented into corticosteroid injections, hyaluronic acid (HA) injections, platelet rich plasma injections, and others.
Injections for HA possessed the highest market share for joint pain injections globally in 2022. The expanding awareness of the clinical advantages provided by HA injections as well as the increase in patients with osteoarthritis pain led to the growing acceptance of these treatments among osteoarthritis patients experiencing moderate to severe pain.
Prevalence of Joint Pain in Knee Led to Higher Share of the Knee Segment
On the basis of joint type, the market is segmented into knee, hip, hand & wrist, and others.
In 2022, the knee segment accounted for the highest market share and is expected to expand at a noteworthy CAGR over the forecast period. The rising incidence of knee osteoarthritis led to the rising demand for intra-articular injections for the treatment of knee discomfort.
Due to Increasing Number of Pharmacies, Retail Pharmacies Segment Dominated the Market
The market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies based on distribution channel.
In 2022, the retail pharmacies segment had the biggest market share due to the growing number of retail pharmacies that provide joint pain injections globally.
The online pharmacies segment is expected to witness a sizable CAGR during the forecast period. Patients' preferences are shifting toward online pharmacies as a result of tightening regulations governing the online sale of prescription pharmaceuticals in industrialized nations and the introduction of major e-pharmacy operators in Germany, the U.K., and others.
Regional Insights
Owing to Established Reimbursement Policies, North America will Continue to Hold the Largest Market
North America dominated the market, with a valuation of USD 2.15 billion in 2022. The major factors driving the growth of the North America market are the rising number of patients suffering from joint pain, established reimbursement policies for intra-articular injections, and the growing attention of market players to meet the demand in the U.S. and Canada. Osteoarthritis is the most prevalent type of arthritis, affecting 32.5 million adults in the U.S., according to statistics from 2021 released by the Osteoarthritis Action Alliance.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/joint-pain-injections-market-100871
Competitive Landscape
Market Position will be Boosted by a Strong Portfolio of Key Players
The global market for joint pain injections is fragmented, with several players offering a diverse range of products.
In 2022, the market was dominated by the major players such as Sanofi, Bioventus Inc., Anika Therapeutics Inc., and others. These companies' supremacy is attributable to their broad intra-articular injection product range, strong distribution network, and tactical alliances. The major businesses in the market are creating cutting-edge products to have a competitive advantage over rivals. Additionally, it is projected that these companies' increased focus on expanding the usability and adoption of their viscosupplementation products will increase the joint pain injections market share.
List of Key Players Profiled in the Report
- Sanofi (France)
- SEIKAGAKU CORPORATION (Japan)
- Bioventus (U.S.)
- Anika Therapeutics, Inc. (U.S.)
- Pacira BioSciences, Inc. (U.S.)
- Dr. Reddy’s Laboratories Ltd. (India)
- Zimmer Biomet (U.S.)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Ferring B.V. (Switzerland)
Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Epidemiology Analysis of Osteoarthritis, Key Countries/ Region, 2022
- Prevalence of Key Disorders, by Key Countries, 2022
- Overview of Advancements in Therapies for Treatment of Osteoarthritis
- New Product Launches, Key Players
- Key Industry Developments – Mergers, Acquisitions, and Partnerships
- Impact of COVID-19 on Joint Pain Injections Market
- Global Joint Pain Injections Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
- Corticosteroid Injections
- Hyaluronic Acid Injections
- Platelet Rich Plasma Injections
- Others
- Market Analysis, Insights and Forecast – By Joint Type
- Knee
- Hip
- Hand & Wrist
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Product
- North America Joint Pain Injections Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
- Corticosteroid Injections
- Hyaluronic Acid Injections
- Platelet Rich Plasma Injections
- Others
- Market Analysis, Insights and Forecast – By Joint Type
- Knee
- Hip
- Hand & Wrist
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- Market Analysis, Insights and Forecast – By Product
-
-
- U.S.
-
-
-
- Canada
-
TOC Continued……………..
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/joint-pain-injections-market-100871
Related Reports:
Orthobiologics Market Size, Share, Opportunities & Analysis
Pain Management Devices Market Size, Growth, Demand and Forecast
Orthopedic Joint Replacement Market Overview, Industry Share and Forecast
U.S. Joint Spacer Systems Market Share, Growth, Industry Size and Forecast
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road,
Baner, Pune-411045,
Maharashtra, India.
Phone:
U.S.: +1 424 253 0390
U.K.: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
![](https://ml.globenewswire.com/media/MTFjODFiMTEtZjdmMC00MWRlLWE5MjgtNTNhOGQ3YzViNzFhLTUwMDA2NjY2Mw==/tiny/Fortune-Business-Insights.png)