09-Dec-2022 | Zion Market Research
The global joint pain injections industry size was nearly USD 4.75 billion in 2021 and is set to increase to about USD 10.75 billion by 2030 with a compound annual growth rate (CAGR) of nearly 7.9% between 2022 and 2030.
Joint pain injections are inoculated in joints for relieving pain and reducing swelling as well as discomfort in patients. An increase in number of patients suffering from joint ailments and unmet medical conditions has spurred the demand for joint pain injections. With the massive occurrence of joint pains witnessed in the elderly population and the easy availability of effective treatments have enhanced the popularity of joint pain injections in the healthcare sector. Massive focus on improving the healthcare infrastructure has culminated in humungous growth for the joint pain injections industry along with adding value proposition to the medical device.
Rise in cases of arthritis and musculoskeletal conditions has resulted in large-scale demand for joint pain injections for treating such medical conditions. This is predicted to be a key factor in the expansion of the global joint pain injections market. Burgeoning demand for cost-efficient medical treatment for age-related disorders such as osteoarthritis will prompt the growth of the global industry in the years ahead. Launching of new technologies in the healthcare sector and the growing requirement of reducing pain and inflammation in knee and joints will boost global business trends.
Nonetheless, the surge in costs of joint pain injections along with less awareness about the relief and comfort provided by these products to joints can impede the global market growth. However, an increase in fund allocation to research & development activities related to medical research will proliferate the size of the global market and will provide the industry with new growth opportunities.
The global joint pain injections market is sectored into product, joint type, distribution channel, and region.
On basis of product, the global joint pain injections industry is divided into corticosteroid injections, platelet-rich plasma injections, hyaluronic acid injections, and others. Furthermore, the platelet-rich plasma injections segment is expected to record the fastest CAGR over the assessment period. The growth of the segment can be attributed to increase in the clinical trials performed on patients to empirically prove the effectiveness of joint pain treatment on patients. Moreover, a rise in the rate of approval of platelet-rich plasma injection treatment for people suffering from joint pain is likely to help the global market ascend to new heights of growth.
Based on joint type, the global joint pain injections market is divided into knee and ankle, shoulder and elbow, hip, and others segments. Furthermore, the knee and ankle segment is predicted to account majorly towards the global market share over the forecast timespan. The segmental growth can be attributed to the exponential demand for intra-articular injections for efficiently managing knee pain and treating osteoarthritis of the knee.
In terms of distribution channel, the global joint pain injections industry is segmented into retail pharmacies, online pharmacies, and hospital pharmacies segments. Moreover, the hospital pharmacies segment accounted lucratively towards the global joint pain injections market share in 2021. The segmental expansion is attributed to the growing necessity of hospitalizing subjects suffering from orthopedic & autoimmune disorders such as osteoarthritis and rheumatoid arthritis. Nonetheless, the retail pharmacies segment is predicted to account remarkably for the global industry share over the forecast timespan. The segmental growth from 2022 to 2030 can be credited to the large-scale presence of a robust retail pharmacy network across the globe.
The North American region is anticipated to dominate the global joint pain injections market by 2030. The growth of the regional market can be attributed to rise in occurrence of musculoskeletal disorders, surging aging population, and strong presence of reputed players in the sub-continent. In addition to this, easy access to enhanced healthcare facilities in the region will help joint pain injections industry flourish in North America. With large number of patients opting for joint pain injections treatment in countries such as Canada and the U.S., the joint pain injections market in North America is predicted to witness an exponential surge in the foreseeable future.
Key players profiled in the global joint pain injections market include Bioventus, Sanofi S.A., Seikagaku Corporation, Ferring Pharmaceuticals, Zimmer Biomet Holdings Inc., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories, Chugai Pharmaceutical Co., Ltd, Flexion Therapeutics, Wright Medical Group N.V., Anika Therapeutics Inc., and Pfizer, Inc.
This review is based on a report by Zion Market Research, titled “Joint Pain Injections Market By Product (Corticosteroid Injections, Hyaluronic Acid Injections, Platelet-Rich Plasma Injections, and Others), By Joint Type (Knee and Ankle, Hip, Shoulder and Elbow, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/joint-pain-injections-market
The global Joint Pain Injections market is segmented as follows:
By Joint Type
By Distribution Channel
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