Joint Pain Injections Market to Grow with a CAGR of 7.02% through 2028
Changing patient preferences, technological
advancements, and increasing awareness are expected to drive the Global Joint
Pain Injections Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Joint Pain
Injections Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Joint Pain Injections Market
stood at USD 4.66 billion in 2022 and is anticipated to grow with a CAGR of 7.02%
in the forecast period, 2024-2028. This can be attributed to emerging markets. While
North America and Europe have traditionally dominated the joint pain injections
market, emerging economies in the Asia-Pacific region are now contributing to
its growth. The increasing middle-class population in countries like India and
China, along with improving healthcare infrastructure, is expanding the
market's reach.
Furthermore, increasing patient education and
empowerment is a pivotal trend in the joint pain injections market. Patients
are becoming more involved in their healthcare decisions, thanks to the
availability of information and support. Educated patients are more likely to
consider and opt for joint pain injections, as they understand the benefits and
risks associated with these treatments.
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Pain Injections Market.”
The global market under study was significantly
impacted by the COVID-19 pandemic, primarily due to the pandemic-related
restrictions affecting the diagnosis and treatment of chronic diseases on a
global scale. For instance, a research article titled "COVID-19 and
Rheumatoid Arthritis," published in May 2021, highlighted the
vulnerability of older patients with rheumatoid arthritis (RA) to COVID-19. The
RA patient community experienced disruptions in accessing care, a transition to
telemedicine, shortages of essential medications, increased anxiety, and social
isolation, all contributing to disease flares. Access to therapy was
constrained during the pandemic, with 42% of patients reporting canceled or
postponed appointments and a shift to telemedicine visits. Consequently,
COVID-19 had an adverse impact on the market for joint pain injections.
Additionally, the market is significantly influenced
by the rising prevalence of arthritis and the global increase in the aging
population, along with a growing demand for knee pain relief injections.
According to the World Population Prospects 2022 report, the percentage of the
population aged 65 and over is on the rise, with projections of 3.3% in
Sub-Saharan Africa, 7.0% in Northern Africa and Western Asia, 8.1% in Central
and Southern Asia, and 22.0% in Europe and Northern America by 2030. Since arthritis
is more prevalent among the elderly, the market segment is expected to expand
in tandem with the aging population.
Moreover, according to an October 2021 update from the
Centers for Disease Control and Prevention, 43% of osteoarthritis patients in
2020 were 65 years of age or older, and the highest annual incidence of knee
osteoarthritis occurs between 55 and 64 years of age. More than half of
individuals with symptomatic knee osteoarthritis are younger than 65. With the
aging population expected to grow, there will likely be an increased burden of
osteoarthritis and related conditions, further driving the growth of the
studied market throughout the forecast period.
The Global Joint Pain Injections Market is segmented
into type of injection, application, regional distribution, and company.
Based on its type of injection, the Hyaluronic Acid
Injections sector is poised for growth in the foreseeable future. These
injections are employed to alleviate knee pain associated with osteoarthritis
(OA) in patients who have already attempted ineffective treatments like
acetaminophen and other pain relievers. Hyaluronic acid injections have gained
popularity as a non-surgical therapeutic option, particularly due to
clinicians' hesitancy to administer repeated corticosteroid injections into the
joints.
Market participants are actively engaged in the
development of innovative products with numerous advantages, frequently
introducing new offerings. For example, in August 2021, Seikagaku Corporation
introduced HyLink, a single-injection Visco supplement for intra-articular use
in treating knee osteoarthritis in Taiwan through TCM Biotech International
Corp. The primary ingredient is a cross-linked hyaluronate hydrogel created
using cross-linking technology. These product launches are expected to drive growth
in this segment during the forecast period.
Based on application, the Knee & Ankle segment is
poised to capture a significant market share in the Global Joint Pain
Injections Market during the forecast period for several compelling reasons.
Firstly, knee and ankle joints are particularly susceptible to wear and tear,
making them more prone to conditions like osteoarthritis and sports-related
injuries, driving the demand for pain-relieving injections. Secondly, the rise
in the aging population, combined with the growing prevalence of joint-related
issues, has increased the patient pool seeking effective non-surgical
solutions. Additionally, advancements in injection technologies and the
development of specialized products tailored to the specific needs of the knee
and ankle joints have made these injections more efficient and accessible.
Furthermore, patients and healthcare providers increasingly prefer these
injections over surgical interventions, making the Knee & Ankle segment a
promising growth area within the Joint Pain Injections Market.
Major companies operating in Global Joint Pain
Injections Market are:
- Anika Therapeutics Inc
- Bioventus LLC
- Ferring Pharmaceuticals Inc
- Sanofi SA
- Pfizer Inc
- Eli Lilly & Co
- Flexion Therapeutics Inc
- Teva Pharmaceutical Industries Ltd
- Zimmer Biomet Holdings, Inc.
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“The global joint pain injections market is on the
cusp of transformative change. As personalized medicine, advanced biologics,
telemedicine, AI-driven treatments, and other trends gain momentum, the market
is expected to provide more effective, patient-centric solutions for joint pain
management. These innovations promise to improve the lives of millions of
individuals suffering from joint pain, further fueling the growth of this
dynamic and evolving healthcare sector,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Joint Pain Injections Market By
Type of Injection (Steroid Joint Injections,
Hyaluronic Acid Injections, Platelet-rich Plasma (PRP) Injections, Placental
Tissue Matrix (PTM) Injections, Others), By Application (Shoulder & Elbow,
Knee & Ankle, Spinal Joints, Hip Joint, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Joint Pain Injections Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Joint
Pain Injections Market.
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