Global Joint Pain Injections Market Forecast & Share Worth USD 10.75 Billion, By 2030 at 7.9% CAGR | Joint Pain Injections Industry Trends, Demand, Growth, Value, Analysis & Size Report by Zion Market Research
NEW YORK, Jan. 2, 2023 /PRNewswire/ -- As per Zion Market Research study, The global joint pain injections industry size was nearly USD 4.75 billion in 2021 and is set to increase to about USD 10.75 billion by 2030 with a compound annual growth rate (CAGR) of nearly 7.9% between 2022 and 2030.
Joint Pain Injections Market: Overview
Joint pain injections are injected directly into the joints for relieving pain along with minimizing swelling as well as discomfort to the patient. Reportedly, joint pain is usually observed in the geriatric population. Moreover, musculoskeletal disorders such as arthritis and sacroiliac joint pain are the root cause of inflammation and pain occurring in the elderly population. Furthermore, the surge in the occurrence of rheumatoid arthritis and osteoarthritis along with the easy availability of cost-effective treatments for these conditions will enhance demand for joint pain injections in the medical sector.
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Key Industry Insights & Findings of the Joint Pain Injections Market Reports:
- As per the analysis shared by our research analyst, the global joint pain injections market is estimated to expand annually at a CAGR of around 7.9% over the forecast period (2022-2030)
- In terms of revenue, the global joint pain injections market was valued at nearly USD 4.75 billion in 2021 and is predicted to hit USD 10.75 billion by 2030
- The industry is slated to expand at a notable rate due to the rise in knee and ankle injuries as well as sports injuries along with growing incidences of musculoskeletal disorders witnessed in old people.
- Based on product, hyaluronic acid injections segment accounted for the largest market share in the year 2021
- On basis of joint type, the knee and ankle segment is predicted to dominate the global market share over 2022-2030
- In terms of distribution channels, the hospital pharmacies segment accounted for the highest industry share in 2021
- On the basis of region, the North American region was the leading revenue generator for the global market in 2021
Zion Market Research published the latest report titled "Joint Pain Injections Market By Product (Corticosteroid Injections, Hyaluronic Acid Injections, Platelet-Rich Plasma Injections, and Others), By Joint Type (Knee and Ankle, Hip, Shoulder and Elbow, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030." into their research database.
Industry Dynamics:
Joint Pain Injections Market: Growth Drivers
- Inactive Lifestyle and Surge In Cases of Osteoarthritis & Rheumatoid Arthritis To Elevate Demand For Joint Pain Injections.
A sedentary lifestyle and obesity along with the rise in the occurrence of musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis will carve a profitable growth map for the global joint pain injections market. In addition, growing awareness about the early diagnosis and treatment of joint pain has resulted in proliferating demand for joint pain injections in the healthcare sector.
Huge unmet medical requirements of the population in emerging and under-developed economies will expand the scope of growth of the global market. Furthermore, a rise in healthcare spending by governments of developed countries along with product innovations will foster the expansion of the joint pain injections business across the globe. As per WHO, nearly 2 billion persons across the globe were affected due to musculoskeletal ailments in 2020.
Joint Pain Injections Market: Restraints
- Escalating costs of medical products and unfavorable reimbursement policies impede the global market expansion.
Low awareness about joint pain injections in emerging economies along with reduced demand for intra-cellular inoculations for treating joint pains can inhibit the growth of the global joint pain injections industry. Apparently, the lack of favorable compensation policies for joint pain inoculations witnessed across emerging economies along with inflating costs of medical devices across the globe will put brakes on the expansion of the global market.
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Joint Pain Injections Market: Opportunities
- Increase in patient pool suffering from arthritis to open new facades of growth for the global market.
A prominent increase in the geriatric population and surge in the patient population pool suffering from arthritis has resulted in humungous demand for effective treatment for joint pains. This, in turn, has created new growth avenues for the global joint pain injections industry. In addition to this, the launching of new medical therapies for treating joint pains and an increase in the allocation of funds for medical research by private players and government agencies will promote the expansion of the global market.
Joint Pain Injections Market: Challenges
- Deteriorating health observed in some of the patients inoculated with joint pain injections has posed a challenge to market growth.
Side effects and allergies observed in the subjects due to joint pain injections have proved to be a major hurdle in the growth of the global joint pain injections market. Apart from this, cartilage and nerve damage witnessed in some of the patients receiving joint pain injections has affected the production and sale of these medical products. Furthermore, skin discoloration and infections occurring in patients due to the use of joint pain inoculations have proven to be the biggest hurdle in the global joint pain injections industry growth.
Global Joint Pain Injections Market: Segmentation
- The global joint pain injections market is divided into product, joint type, distribution channel, and region.
On basis of product, the global joint pain injections market is divided into hyaluronic acid injections, corticosteroid injections, platelet-rich plasma injections, and others. Moreover, in 2021, hyaluronic acid injections dominated the global market in terms of revenue. The surge in the segment can be attributed to the growing awareness about the clinical benefits offered by the product along with an increase in the approval of hyaluronic acid injections by authorities such as the U.S. FDA for treating joint pains.
In terms of joint type, the global joint pain injections market is sectored into knee and ankle, hip, shoulder and elbow, and others. Furthermore, the knee and ankle segment is anticipated to account for the major revenue share of the global market in the coming years. The segmental growth over the forecast timeline can be credited to humungous demand for intra-articular injections for effectively treating knee and ankle pains.
Based on distribution channels, the global joint pain injections industry is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. In addition, the hospital pharmacies segment contributed majorly towards the overall share of the industry across the globe in 2021. The segmental expansion is attributed to the massive need of hospitalizing people suffering from orthopedic disorders. However, the retail pharmacies segment is anticipated to account sizably for the global market share over the forecast timeline. The growth of the segment from 2022 to 2030 can be due to the presence of a robust retail pharmacy network in both emerging economies and developed countries.
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List of Key Players in Joint Pain Injections Market:
- Seikagaku Corporation
- Zimmer Biomet Holdings Inc.
- Dr. Reddy's Laboratories
- Chugai Pharmaceutical Co.Ltd
- Flexion Therapeutics
- Sanofi S.A.
- Teva Pharmaceutical Industries Ltd.
- Wright Medical Group N.V.
- Anika Therapeutics Inc.
- Bioventus
- Ferring Pharmaceuticals
- Pfizer Inc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Joint Pain Injections Market?
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Recent Developments
- In December 2022, AbbVie Pharmaceuticals, a key player in the biopharmaceutical business, joined hands with Hotspot Therapeutics, Inc., a major biotech firm and pioneer in drug development for treating autoimmune disorders & cancer. The strategic move is aimed at the expansion of AbbVie's immunology portfolio along with the use of the Allostery™ drug discovery tool of Hotspot for developing interferon regulatory factor 5 for effectively treating autoimmune disorders. Moreover, players in the joint pain injections industry will follow the suit and this will open new dimensions of growth for the global market.
Regional Dominance:
- North America to dominate the global market during the forecast timeline.
The North American region is slated to account majorly for the global joint pain injections market share by 2030. The growth of the joint pain injections business in the region can be attributed to a prominent surge in the number of patients suffering from musculoskeletal disorders. Apart from this, supportive government compensation policies will account notably for the regional market proceeds.
However, the Asia-Pacific joint pain injections market is set to garner the highest gains over the forecast timeframe. The growth of the regional market can be attributed to the rise in cases of rheumatoid arthritis and osteoarthritis witnessed in the people. Growing awareness about the effectiveness of new joint pain therapies among the population of Asia-Pacific will benefit the market profitability of the region.
Global Joint Pain Injections Market is segmented as follows:
Joint Pain Injections Market: By Product Outlook (2022-2030)
- Corticosteroid Injections
- Hyaluronic Acid Injections
- Platelet Rich Plasma Injections
- Others
Joint Pain Injections Market: By Joint Type Outlook (2022-2030)
- Knee and Ankle Hip
- Shoulder and Elbow
- Others
Joint Pain Injections Market: By Distribution Channel Outlook (2022-2030)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Joint Pain Injections Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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