Viscosupplementation is a nonsurgical treatment for osteoarthritis or degenerative arthritis of the knee that helps lubricate and cushion the joints. It involves injecting a gel-like substance called hyaluronic acid into the knee joint. Hyaluronic acid acts as a lubricant and shock absorber in the joints and supplements the natural fluid in the joints. It aims to improve knee lubrication, reduce pain from knee osteoarthritis, and improve mobility. The injections can help relieve knee pain and improve mobility for several months. The global aging population is driving the higher occurrence of osteoarthritis, which is a major factor boosting the adoption of viscosupplementation treatments.
The Canada Viscosupplementation Market is estimated to be valued at USD 150.8 Mn in 2024 and is expected to reach USD 255.7 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.60% from 2024 to 2031.
Key players operating in the Canada viscosupplementation market are Sanofi, Anika Therapeutics, Bioventus, Ferring B.V., Zimmer Biomet, and Seikagaku Corporation. Rising healthcare expenditure and higher adoption of non-invasive procedures present significant growth opportunities in the Canada Viscosupplementation Market. The increasing inclination toward minimally invasive treatments will further drive the market.Major players are focusing on expansion strategies and new product launches to strengthen their presence across Canada. For instance, Anika Therapeutics expanded its commercial footprint in Canada with the establishment of a new subsidiary - Anika Therapeutics Canada, Inc.
Market drivers
The growing geriatric population prone to osteoarthritis in Canada is a key driver for the market. As per statistics, approximately 4.4 million Canadians are likely to be aged 65 and above by 2030. Rising cases of obesity will further augment the risk of osteoarthritis among the aging population. Along with age, excess weight puts additional pressure on weight-bearing joints like knees and leads to cartilage breakdown over the years. Therefore, the increasing obese population is expected to propel the demand for viscosupplementation procedures.
PEST Analysis Political: The healthcare system in Canada is publicly administered through universal healthcare provided for all qualifying Canadian citizens and permanent residents. A single-payer public insurance system removes political risks related to changes insurance coverage.Economic: Canada has a highly developed economy and market-based economic system. However, recent economic downturn and fluctuations in global oil prices have impacted GDP growth. The rise in an aging population also places pressure on the public healthcare expenditures.
Social: Canada has socially progressive policies promoting wellness and universal healthcare access for all. However, lifestyle diseases are rising due to factors like increased sedentary jobs,processed food consumption and urbanization. This is increasing the need for effective osteoarthritis treatments like viscosupplementation.
Technological: Healthcare technologies are rapidly advancing in Canada driven by R&D investments. Telemedicine is gaining traction especially in remote areas to improve access. Wider availability of diagnostic technologies and digital healthcare solutions are positively impacting the viscosupplementation market adoption.
Geographical regions with high market value
Canada's viscosupplementation market is concentrated majorly in Ontario province due to higher population and healthcare infrastructure. The provinces of Quebec, British Columbia and Alberta also represent sizeable market opportunities attributed to aging demographics and higher healthcare spends per capita compared to other regions. Together, these four provinces account for over 75% of the total viscosupplementation market value in Canada.The Western region of Canada comprising British Columbia and Alberta is witnessing faster market growth compared to other parts of the country. This is owing to rising osteoarthritis patient base, increasing healthcare reforms supporting effective treatments and presence of major market players expanding access through new product launches in the region.
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