DUBLIN–(BUSINESS WIRE)–The “Joint Pain Injection Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Drug, Joint Type, and Distribution Channel” report has been added to ResearchAndMarkets.com’s offering.
The joint pain injection market is expected to reach US$ 6,996.88 million in 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 growth of the market is mainly attributed to the high prevalence of musculoskeletal disorders and increasing number of sports injuries. However, the high costs of joint repair therapies hinder the market growth.
Hyaluronic acid injections are usually administered for treating sports injuries, as they aid in pain relief, reduce inflammation, and improve joint function. Corticosteroids are also used to treat sports-related injuries. Sports injuries are caused due to direct impact or due to the application of force that is larger than the body part can withstand. The most common sport injuries are sprains, strains, joint injuries, and bruises. As per the National Safety Council (NSC), in 2019, exercise accounted for ~468,000 injuries in the US, the most of any category of sports and recreation. People involved in football, bicycling, basketball, playground, and soccer activities contributed to the highest number of emergency department (ED) visits in that year. It also states sport injuries affect over thousands of youth population engaged in various sports. Further, according to a research from the Australian Institute of Health and Welfare, ~60,000 people were hospitalized due to sports injuries in 2016-2017. Additionally, according to the European Injury Data Base (IDB) sports, annually ~4.5 million people aged 15 years and above approach EU hospitals for the treatment of sport injuries. Thus, the growing number of sport injuries is boosting the demand for joint pain injections.
Based on joint type, the joint pain injection market is segmented into knee, shoulder and elbow, hip, foot and ankle, and others. In 2020, the knee joint type segment accounted for the largest share of the market. Growth of this segment is attributed to the increasing prevalence of knee injuries. For instance, according to a study published in the Journal of Osteoarthritis and Cartilage in 2020, ~303 million people across the world suffer from osteoarthritis, and ~60.0% of this population suffers from knee pain. Furthermore, growing number of product launches for knee pain treatment are also driving the growth of the market for the knee segment.
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Market Dynamics
Drivers
- High Prevalence of Musculoskeletal Disorders
- Increasing Number of Sports Injuries
Restraints
- High Costs of Joint Repair Therapies
Opportunities
- Proliferation of Pharmaceutical Sector in Emerging Markets
Future Trends
- Product Innovations
Companies Mentioned
- Chugai Pharmaceutical Co., Ltd.
- Bioventus Inc.
- Fidia Pharma USA Inc.
- Flexion Therapeutics, Inc.
- SEIKAGAKU CORPORATION
- Ferring B.V.
- Sanofi
- Anika Therapeutics, Inc.
- Teva Pharmaceutical
- OrthogenRx, Inc.
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