Joint Pain Injection Market to Surge at a CAGR of 7.8%, Reaching USD 9.8 Billion by 2031: TMR Analysis

Wilmington, Delaware, United States, May 31, 2023 (GLOBE NEWSWIRE) — The global joint pain injection market is projected to flourish at a CAGR of 7.8% from 2023 to 2031. As per the report published by TMR, the global joint pain injection market is expected to exceed a value of US$ 9.8 billion by 2031. The market was valued at US$ 4.7 billion in 2021.

The rising prevalence of joint-related disorders, the aging population, and the growing demand for minimally invasive treatment options are expected to increase the scope of the joint pain injections market.

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Due to the increasing prevalence of knee-osteoarthritis and musculoskeletal disorders, demand for new treatment options for joint pain increases. Hyaluronic acid injections remain the effective treatment option for knee osteoarthritis, this is likely to boost the growth of the joint pain injections market.

Increasing technological advances and the development of new injection therapies contribute to the expansion of the market. The increasing awareness among individuals about the availability and benefits of joint pain treatment is expected to drive market growth

Increasing application of various types of injections such as corticosteroid injections, hyaluronic acid injections, platelet-rich plasma (PRP) injections, and stem cell injections are expected to drive the market growth during the forecast period.

The easy availability of joint pain injections through various distribution channels, including hospital pharmacies, retail pharmacies, and online platforms, has made them more accessible to consumers. This accessibility has fuelled the market demand.

Key Takeaways from the Market Report

• As of 2023, the joint pain injection treatment market is forecast to reach US$ 5.4 billion
• Based on joint type, the knee & ankle segment is expected to remain popular due to increased knee & ankle injuries
• Hyaluronic Acid Injections segment to account for a significant market share during the forecast period.
• Based on distribution channel, the hospital pharmacies segment remains the most favored medical setting in the joint pain injections market
• North America is projected to be the lucrative market for joint pain injections market

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Joint Pain Injection Market: Prominent Drivers and Trends

• The increasing geriatric population, increasing prevalence of joint pains, and increased preference for injection over surgeries are expected to drive the joint pain injection market.
• The increased awareness and increased prevalence of osteoarthritis and rheumatoid arthritis to drive the market growth during the forecast period
• Increasing number of knee & ankle injuries and the availability of improved treatment offer an opportunity for market expansion.
• Increase in research & development activities and technological innovation and advancements in the formulation of injection treatment products accelerate the growth of the market during the forecast period

Joint Pain Injection Market: Regional Analysis

• North America is expected to lead the joint pain injection market. An increase in the aging population, increasing awareness about minimally invasive treatments, and the availability of advanced healthcare infrastructure contribute to the growth of the joint pain injection market in North America.
• Asia Pacific is expected to witness lucrative growth opportunities for the joint pain injections market during the forecast period. The growing technological advances in healthcare and increasing prevalence of joint-related disorders, such as osteoarthritis and rheumatoid arthritis fuel regional market growth.

Competitive Landscape

Transparency Market Research has profiled the following players in its global joint pain injection market report:

• Allergen Plc
• Pfizer Inc.
• Sanofi
• Anika Therapeutics Inc.
• Ferring B.V
• Bioventus
• Flexion Therpeutics Inc
• Zimmer Biomet Holdings Inc.
• Seikagaku Corporation
• Chugai Pharmaceutical Co. Ltd

The key players in the joint pain injection market are focusing on the development of new innovative products to increase their customer rich and market share.

• In July 2022- Bioventus Inc. announced the acquisition of CartiHeal.
• Pfizer is a multinational pharmaceutical company known for its extensive portfolio of medications. They have developed joint pain injections, including corticosteroid formulations, for the management of various joint-related conditions.
• Sanofi is a global pharmaceutical company that develops and markets a wide range of healthcare products. They have offerings in the joint pain injection market, including hyaluronic acid-based injections for osteoarthritis.
• Zimmer Biomet is a leading medical device company specializing in orthopedic solutions. They offer joint pain injections, such as hyaluronic acid formulations, that are used for the treatment of knee and hip osteoarthritis.

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Joint Pain Injection Market: Key Segments

Joint Type

• Knee & Ankle
• Hip Joint
• Shoulder & Elbow
• Face Joints & Spine
• Others

Injection Type

• Corticosteroid Injection
• Hyaluronic Acid Injection
• Others

Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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