The viscosupplementation market in Canada involves injectable hyaluronic acid-based supplements that help lubricate joints and reduce pain caused by osteoarthritis. Viscosupplementation offers a non-surgical treatment option to osteoarthritis patients by replenishing synovial fluid in knee joints. The supplements mimic the viscosity and elasticity of normal synovial fluid, helping to lubricate and cushion the cartilage. This enhances joint movement and provides temporary pain relief. The Canada viscosupplementation market is primarily driven by the increasing geriatric population who are more susceptible to osteoarthritis. According to studies, over 4.4 million Canadians are reported to suffer from osteoarthritis.
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 Takeaways
operating in the Canada viscosupplementation market are Ferring B.V., Sanofi, Anika Therapeutics Inc., SEIKAGAKU CORPORATION, Bioventus.Rising healthcare expenditure and product innovation are key opportunities for market players. Companies are investing in R&D to develop advanced HA formulations with enhanced efficacy.North America dominates the global market owing to the growing geriatric population and rising obesity rates. Canada accounts for over 20% share in the regional viscosupplementation market.
Market drivers One of the key drivers for the Canada Viscosupplementation Market growth is the growing prevalence of obesity. Obesity is a major risk factor for osteoarthritis as it increases knee joint pressure and stresses. According to data, over 30% of Canadian adults are reported to be obese. This has significantly contributed to the osteoarthritis burden, driving the need for viscosupplementation therapy.
PEST Analysis
Political: Regulations regarding healthcare practices and insurance coverage for viscosupplementation procedures in Canada.
Economic: Financial spending ability of consumers and government healthcare budgets that support viscosupplementation treatments.
Social: Aging population driving greater need for joint care procedures like viscosupplementation to treat osteoarthritis. Younger demographics are also regularly participating in athletic activities putting strain on joints.
Technological: Advancements in formulation and injection methods for hyaluronic acid based viscosupplementation products. Move towards single injection therapies and longer lasting formulations.
Geographical concentration of market valueThe provinces of Ontario and Quebec account for over 60% of the viscosupplementation market value in Canada due to their large populations and higher urbanization levels. Major city centers like Toronto, Montreal and Ottawa have a concentration of orthopedic clinics and hospitals performing high volumes of viscosupplementation procedures.
Fastest growing region The Western provinces of Alberta, Saskatchewan and British Columbia show strong growth potential for viscosupplementation therapy. Younger demographics engaging in sports combined with energetic job markets are contributing to higher rates of joint issues. Growing urban populations and rising discretionary spending further support market expansion. Several clinical trials are also evaluating the benefits of viscosupplementation in injured joints of athletes.
Get this Report in Japanese Language: カナダのビスコサプリメント市場
Get this Report in Korean Language: 캐나다 점도 보충 시장
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
