Product Innovations to Favor Joint Pain Injection Market During 2021-2028
According to our new research study on “Joint Pain Injection Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Drug, Joint Type, and Distribution Channel,” the market is expected to reach US$ US$ 6,996.88 million by 2028 from US$ 3,667.45 million in 2020; it is estimated to grow at a CAGR of 8.5% from 2021 to 2028. The report highlights major market drivers and prominent companies along with their key developments in the market.
Companies operating in the joint pain injection market are undertaking an increasing number of research and development activities to introduce more innovative products. For instance, in April 2017, Bioiberica S.A.U., Spain, launched the Hialsorb Intraarticular hyaluronic acid injection to treat pain and inflammation associated with osteoarthritis (OA). The injection has the ability to restore the viscosity and elasticity of synovial fluid, thereby decreasing pain and inflammation as well as increasing mobility of the affected organ and reducing friction between bones. Additionally, in November 2017, Flexion Therapeutics Inc. launched Zilretta, an intra-articular injection for OA-related knee pain. It is a non-opioid medicine that has Flexion’s proprietary microsphere technology and offers pain relief for 12 weeks among the patients with OA of knee. Furthermore, in July 2019, Teva Pharmaceutical Industries Ltd launched 1% Sodium Hyaluronate for the treatment of patients with OA-related knee pain; the product is especially prescribed to patients who couldn’t respond well to conservative non-pharmacologic therapy and simple analgesics. Such increasing number of product developments and launches are emerging as an important trend in the joint pain injection market.
Geographically, the joint pain injection market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SCAM). North America held the largest market share in 2020. In North America, the US is the largest market for joint pain injection. The market growth in the region is attributed to the presence of key market players and their engagement in product developments. In addition, the growing prevalence of orthopedic diseases, presence of well-developed healthcare infrastructure, and availability of effective reimbursement coverage are among the prominent factors propelling the market growth in North America.
Chugai Pharmaceutical Co., Ltd., Teva Pharmaceuticals, Bioventus Inc., Fidia Pharma USA Inc., Flexion Therapeutics, Inc., SEIKAGAKU CORPORATION, Ferring B.V., Sanofi, Anika Therapeutics, Inc., and OrthogenRx are among the leading companies operating in the joint pain injection market.
The report analyzes joint pain injection market on the basis of following segments:
Joint Pain Injection Market, by Drug
- Hyaluronic Acid
Joint Pain Injection Market, by Joint Type
- Foot and Ankle
- Shoulder and Elbow
Joint Pain Injection Market, by Distribution Channel
- Retail Pharmacies
- Hospitals Pharmacies
Joint Pain Injection Market, by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South and Central America (SCAM)
- Rest of South and Central America
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