Latest
industry research report on: Viscosupplementation Market : Industry
Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
Single injection viscosupplementation segment is anticipated to record the highest CAGR during the projected period
The single injection viscosupplementation segment in the Russia viscosupplementation market
is expected to expand at the fastest and highest CAGR of 6.0% over the
forecast period, due to relatively less competition across the product
type segments. The three injection viscosupplementation product type
segment was estimated to account for more than 69.4% share of the Russia
viscosupplementation market in 2016, which is projected to increase to
over 68.8% by the end of 2026. In Russia, three injection
viscosupplementation is likely to be the highly preferred treatment of
choice for osteoarthritis over the projected period and this is the
precise reason that by the end of 2026, the three injection
viscosupplementation product type segment is estimated to reach a market
valuation in excess of US$ 23.5Mn. The three injection
viscosupplementation product type segment is projected to be the most
attractive segment in the Russia viscosupplementation market.
Rising obesity and ageing population expected to drive the growth of the three injection viscosupplementation segment in Russia
Viscosupplemets
are hyaluronic acid doses that are injected in the knee joints for the
treatment of osteoarthritis (OA). The rising obesity rate, coupled with a
rapidly increasing geriatric population in Russia is giving rise to an
increasing number of cases of knee osteoarthritis. This factor is
driving the growth of the single injection viscosupplementation segment
in the Russia viscosupplementation market. Increasing ageing population
is another factor that is creating robust development in the Russia
viscosupplementation market. Prevalence of osteoarthritis in the adult
population in Russia is approximately 13%. Knee osteoarthritis is
causing disability in the ageing population in Russia and this is the
precise reason for the rise in demand for three injection
viscosupplementation. Three injection viscosupplementation is a
cost-effective procedure that reduces the cost burden of knee
osteoarthritis patients. Several drugs for three injection
viscosupplementation are in the pipeline and this is further creating a
positive impact on this segment. Better patient compliance and reduction
in the number of hospital visits is expected to drive the market growth
of the three injection viscosupplementation segment over the forecast
period.
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Non-consideration
of reimbursement by insurance companies in Russia is likely to be a
hindrance to the growth in demand for three injection
viscosupplementation
The
cost of single injection viscosupplementation is lesser than three
injection viscosupplementation. Besides, these three injections are
available through online portals or can be procured directly from the
pharmacists as well. However, several insurance companies and
authorities do not consider these in the reimbursement list of products.
Physicians have noted that the formulation of updated treatment
guidelines by Osteoarthritis Research Society International (OARSI) for
knee osteoarthritis has been restricting the overall outlook on
viscosupplementation prescription. This is expected to lead to increased
insurance denials for three injection viscosupplementation. Three
injection viscosupplementation is a lengthy procedure wherein patients
suffering from osteoarthritis need to take three injections within the
span of a certain time period. Owing to these restraints, single
injections are expected to gain more popularity in Russia in the years
to come.
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Market share of companies operating in the Russia viscosupplementation market
The
Russia viscosupplementation market is highly fragmented. Key players
such as Hyaltech, Croma-Pharma GmbH and TRB Chemedica contribute around
65% of the market share. Hyaltech alone grabs more than 40% market
share.
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