Pune, India, June 21, 2021 (GLOBE NEWSWIRE) – Joint Pain Injection Market: Key Findings Insight
According to our new research study, Joint Pain Injection Market to 2027 – Global Analysis and Forecast – By Drug, Joint Type, Distribution Channel, and Geography, the market size for Joint Pain Injection is projected to reach $ 6,996.88 million by 2028 from $ 3,667.45 million in the Year 2020; It is expected to grow at a CAGR of 8.5% between 2021 and 2028.
Joint Pain Injection Market: Competitive Landscape and Key Developments
The most important companies include Chugai Pharmaceutical Co., Ltd., Teva Pharmaceuticals, Bioventus Inc., Fidia Pharma USA Inc., Flexion Therapeutics, Inc., Seikagaku Corporation, Ferring BV, Sanofi, Anika Therapeutics, Inc. and OrthogenRx active in the global joint pain injection market. Leading players are concentrating on expanding and diversifying their market presence and gaining new customer bases, thereby opening up existing business opportunities.
In August 2019, the company launched DUROLANE in Malaysia. Bioventus has signed a strategic distribution partnership with Athrotech to distribute the product in Malaysia
In March 2018, Bioventus received approval from ANVISA, a Brazilian health authority, to market its joint pain injection DUROLANE in Brazil. In addition, the company has chosen Pfizer as its sales partner.
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In 2019, the United States held the largest share of the injections for joint pain market in North America. The market growth in the region is attributed to the increasing demand for advanced joint pain therapies and the growing number of product launches. In addition, the increasing focus on partnerships for technology developments and collaborations to strengthen sales channels should drive the growth of the joint pain injection market in North America in the coming years. North America is also expected to have the highest CAGR in the joint pain injection market during the forecast period. An increased awareness of injection therapies for joint pain coupled with heavy investments in product development, sales and distribution would offer lucrative opportunities for the North American joint pain market participants to grow over the forecast period.
Based on the drug, it is divided into hyaluronic acid, corticosteroid and others. The corticosteroid segment had the largest market share in 2020 and is still expected to have the highest CAGR in the market during the forecast period. Corticosteroid injections, also known as steroid syringes, are injected directly into the sore joint for quick pain relief. Corticosteroid injections help fight inflammation, pain, swelling, and redness. The drug is used prominently in many countries as it provides rapid pain relief. According to a market player, around 600,000 corticosteroid injections have been given to treat shoulder pain in the United States.
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Musculoskeletal disorders (MSDs) are conditions that affect the muscles, bones, and joints of the neck, shoulders, wrists, back, hips, legs, knees, and feet. These diseases include tendonitis, carpal tunnel syndrome, osteoarthritis, rheumatoid arthritis (RA), fibromyalgia, and broken bones. According to the factsheet of the World Health Organization (WHO) updated in 2018, musculoskeletal disorders are the second most common cause of disability worldwide. Accordingly, the prevalence and impact of musculoskeletal disorders is expected to increase as the population ages and the prevalence of risk factors for noncommunicable diseases (NCDs) increases worldwide. According to data from the 2016 American Academy of Orthopedic Surgeons Annual Meeting, roughly one in two adults in the United States suffers from a musculoskeletal disorder. In addition, according to the Centers for Disease Control and Prevention (CDC), arthritis causes severe pain that affects millions of people in the United States each year. Approximately one in four arthritis patients, ~ 15 million out of a total of ~ 54 million patients, has severe arthritis-related joint pain.
In addition, osteoarthritis (OA) is one of the most common joint diseases in the United States, caused by the breakdown of articular cartilage between the bones. It is also known as degenerative joint disease or “attrition” arthritis. More than 32.5 million adults in the United States have osteoarthritis, according to the Centers for Disease Control and Prevention (CDC). Similarly, according to the National Health Service (NHS), more than 10 million people in the UK have arthritis or other similar conditions that affect the joints. According to Bupa Health Insurance, osteoarthritis is the most common form of arthritis in the UK. It affects about a third of the people aged 45 or older in the country, or about 8.75 million people. Therefore, such a high prevalence of musculoskeletal disorders in different countries increases the number of treatments that are performed for the same, thus driving the growth of the joint pain injection market.
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Joint Pain Injection Market: Segment Overview
The Joint Pain Injections market is segmented into Hyaluronic Acid, Corticosteroid, and others by drug. The Corticosteroid segment held the largest market share in 2020 and is expected to have the highest CAGR in the market during the forecast period.
Corticosteroid injections are injected directly into the sore joint for quick pain relief and to combat inflammation, pain, swelling, and redness. The drug is used prominently in many countries as it provides rapid pain relief. According to data released in 2019 by a market operator, around 600,000 corticosteroid injections have been given in the United States to treat shoulder pain. In addition, it is estimated that an increasing number of product approvals and launches will drive segment growth over the forecast period
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