Joint Pain Injection Market to Outstrip $6,996.88 Million by 2028 Growing Sturdy at 8.5% CAGR – COVID-19 Impact and Global Analysis by TheInsightPartners.com

Pune, India., June 21, 2021 (GLOBE NEWSWIRE) — Joint Pain Injection Market: Key Insights
According to our new research study on “Joint Pain Injection Market to 2027 – Global Analysis and Forecast – by Drug, Joint Type, Distribution Channel, and Geography,” the Joint Pain Injection Market Size is projected to reach US$ 6,996.88 million by 2028 from US$ 3,667.45 million in 2020; it is expected to grow at a CAGR of 8.5% during 2021–2028.

Joint Pain Injection Market: Competition Landscape and Key Developments
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 amongst others are among the key companies operating in the global joint pain injection market. Leading players are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

In August 2019, the company launched DUROLANE in Malaysia. Bioventus has signed strategic distribution partnership with Athrotech to distribute the product in Malaysia

In March 2018, Bioventus received an approval from ANVISA, a Brazilian healthcare authority, to market its joint pain injection DUROLANE in Brazil. Moreover, the company chose Pfizer as distribution partner.

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In 2019, the US held the largest share of the joint pain injection market in North America. The market growth in the region is attributed to increase in the demand for advanced joint pain therapies and growing number of product introductions. Additionally, increasing focus on partnerships for technology developments and collaborations for strengthening distribution channels are also projected to drive the joint pain injection market growth in North America in the coming years. North America is further expected to register the highest CAGR the joint pain injection market during the forecast period. Increasing awareness about joint pain injection therapies, coupled with high investments in product development, sales, and distribution, would offer lucrative opportunities for the growth of North America joint pain injection market players during the forecast period.

Based on drug is segmented into hyaluronic acid, corticosteroid, and others. The corticosteroid segment held the largest share of the market in 2020, and it is further anticipated to register the highest CAGR in the market during the forecast period. Corticosteroid injections, also referred to as steroid shots, are directly injected into sore joint to quickly ease the pain. Corticosteroid injections help fight against inflammation, pain, swelling, and redness. The drug is prominently being used in many countries as it offers quick pain relief. According to data published by a market player, ~600,000 corticosteroid injections were given in US for the treatment of shoulder pain.

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Musculoskeletal disorders (MSDs) are medical conditions affecting muscles, bones, and joints of neck, shoulders, wrists, back, hips, legs, knees, and feet. These diseases include tendinitis, carpal tunnel syndrome, osteoarthritis, rheumatoid arthritis (RA), fibromyalgia, and bone fractures. As per the World Health Organization (WHO) factsheet updated in 2018, musculoskeletal conditions are the second-largest contributor to disability worldwide. According to the same, the prevalence and impact of musculoskeletal disorders is expected to rise with the increase in aging population and rise in the prevalence of risk factors of noncommunicable diseases (NCDs) worldwide. As per 2016 American Academy of Orthopedic Surgeons’ annual meeting data, ~1 in 2 adults is suffering from a musculoskeletal disorder in the US. Further, according to the Centers for Disease Control and Prevention (CDC), arthritis causes severe pain that affects millions of people in the US every year. Around one in four arthritis patients, i.e., ~15 million of total ~54 million patients, experiences severe arthritis-related joint pain.

Further, osteoarthritis (OA) is one of the most common joint disorders in the US, caused by the breakdown of joint cartilage between bones. It is also known as degenerative joint disease or “wear and tear” arthritis. As per the Centers for Disease Control and Prevention (CDC), more than 32.5 million adults in the US suffer from osteoarthritis. Similarly, as per the National Health Service (NHS), more than 10 million people in the UK have arthritis or other similar conditions that affect joints. As per the Bupa Health Insurance, osteoarthritis is the most common form of arthritis prevalent in the UK, it affects around the one-third of people aged 45 or more in the country, i.e., ~8.75 million people. Therefore, such high prevalence of musculoskeletal disorders in different countries is increasing the number of treatment procedures being carried out for the same, thereby driving the joint pain injection market growth.

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Joint Pain Injection Market: Segmental Overview
The joint pain injection market, by drug, is segmented into hyaluronic acid, corticosteroid, and others. The corticosteroid segment held the largest share of the market in 2020, and it is anticipated to register the highest CAGR in the market during the forecast period.

Corticosteroid injections are directly injected into sore joint to quickly ease the pain, along with fighting inflammation, pain, swelling, and redness. The drug is prominently used in many countries as it offers quick pain relief. According to data published by a market player in 2019, ~600,000 corticosteroid injections were given in US for the treatment of shoulder pain. Further, increasing number of product approvals and launches are estimated to drive the segment growth during the forecast period

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