Joint Pain Injections Market Size to Reach US$ 7.08 BN by 2029

Precedence Research Predicts, the joint pain injections market size is estimated to reach over US$ 7.08 billion by 2029 and expanding growth at a CAGR of 6.9% from 2021 to 2030.

The rising prevalence of diseases like musculoskeletal disorders and osteoarthritis among the population is expected to boost the growth of the global joint pain injections market. According to the Arthritis Research UK, around 28.9% of the UK population were suffering from arthritis in 2018. These diseases are increasingly common among the old age people of aged 65 years and above. Therefore, the surging geriatric population is driving the demand for joint pain injections market.

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According the United Nations, the global geriatric population will reach to around 2 billion by 2050. The rising government and corporate investments in the research and development to develop cost-effective and advanced drugs for the treatment of joint pains is estimated to drive the growth of the global joint pain injections market.

Report Highlights:

• Based on the injection type, the hyaluronic acid injections was the dominant segment in 2020. The rising concerns over the aesthetic beauty, minimal invasiveness associated with the hyaluronic acid injections. And improved efficacy of thehyaluronic acid injections are some of the most prominent factors that has driven the growth of this segment in the global join pain injections market. Increased awareness regarding the hyaluronic acid injections and the advent of new indications and new product launches are further propelling the growth of this segment in the market.

• On the basis of joint type, the knee and ankle segment dominated the glo9bal joint pain injections market in 2020. The rising demand for the intra-articular injections to cure the knee osteoarthritis is a major factor that has led to the dominance of the knee and ankle segment. According to the National Center for Biotechnology Information, around 16% of the individuals aged 15 years and above and around 23% of the individuals aged 40 years and above were suffering fromthe knee osteoarthritis in 2020. Therefore, the surging prevalence of knee osteoarthritis has resulted in the dominance of this segment.

• By distribution channel, the online pharmacies is expected to be the most opportunistic and most lucrative segment in the forthcoming years. This is attributed to the rising adoption of the online pharmacies among the old age consumers owing to the conveniences, easy payment options, easy return and replacement policies, and quick home deliveries of medicines offered by the online pharmacies.

• North America accounted for the largest revenue share and dominated the global joint pain injections market in 2020. The increased awareness among the consumers, easy availability of anabolic steroids in US, growing demand for the joint pain injections among the athletes, and rising prevalence of musculoskeletal diseases among the population are the prominent factors that are responsible for the growth of the North America joint pain injections market.As per the Centers for Disease Control and Prevention,osteoarthritis affects over 32.5 million people in U.S. It is estimated that the geriatric population aged 65 years and above will reach around 95 million by 2050 in US.

• Asia Pacific is anticipated to be the fastest-growing market in the forthcoming period. The prevalence of various musculoskeletal diseases is rising with the rapidly surging geriatric population in Asia Pacific region. According to the United Nations, about 80% of the old age people will be living in the low and middle income nations by 2050. Furthermore, the improving access to the advanced healthcare facilities in the developing countries like China, India, and Indonesia is expected to spur the demand for the joint pain injections during the forecast period.

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Future of Joint Pain Injections Market

The rising penetration of the e-commerce and the rising awareness regarding the joint pain injections among the people are expected to drive the growth of the market. For instance, Flipkart, an e-commerce platform planned to collaborate with PharmEasy, an online pharmacy in India to offer quick medicine delivery services.

COVID-19 Impact Analysis:

• The outbreak of the COVID-19 pandemic in 2020 had a negative impact on the revenue of the joint pain injections market. The disruptions in supply chain and relocation of resources has led to the decline in revenues.
• The non-COVID cases and elective procedures were postponed during the pandemic owing to the shifted focus towards the increased cases of CIOVID-19 disease.

Key Developments in the Marketplace:

• In May 2018, Teva Pharmaceuticals USA acquired the US FDA approval for its SYNOJOYNT that relieves pain associated with the knee osteoarthritis in patients.

Market Segmentation

By Injection Type

• Corticosteroid Injections
• Hyaluronic Acid Injections
• Platelet-rich Plasma Injections
• Placental tissue matrix (PTM) Injections

By Joint Type

• Knee and Ankle
• Hip
• Shoulder and Elbow
• Spinal Joints
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Product Type

• Pre-filled injections
• Vials

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• MEA
• Rest of the World

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