Joint Pain Injection Market Revenue to Cross USD 6,996.88 million by 2028
Corticosteroid Segment to Lead Joint Pain Injection Market During 2021–2028
NEW YORK, UNITED STATES, November 1, 2022 /EINPresswire.com/ -- According to The Insight Partners new research study on “Joint Pain Injection Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Drug, Joint Type, and Distribution Channel,” the market is expected to reach US$ US$ 6,996.88 million by 2028 from US$ 3,667.45 million in 2020; it is estimated to grow at a CAGR of 8.5% from 2021 to 2028.
The report highlights trends prevailing in the joint pain injection market and factors driving its growth. The growth of the joint pain injection market is mainly attributed to the factors such as the high prevalence of musculoskeletal disorders and increasing number of sports injuries. However, the high costs of joint repair therapies hinder the market growth.
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What are the driving factors for the joint pain injection market across the globe?
The global joint pain injection market growth is mainly attributed to factors such the high prevalence of musculoskeletal disorders and increasing number of sports injuries. However, the high costs of joint repair therapies hinder the market growth.
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 are among the leading companies operating in the joint pain injection market.
Based on drug, the joint pain injection market, by drug, is segmented into hyaluronic acid, corticosteroid, and others. The corticosteroid segment held the largest market share in 2020, and it is expected to register the highest CAGR during the forecast period. Corticosteroids offer quick pain relief and help treat inflammation, pain, swelling, and redness. Further, surge in number of product approvals and launches is a key factor contributing to the market growth of the corticosteroids segment. For instance, in 2017, FDA approved ZILRETTA, an extended-release corticosteroid for the treatment of osteoarthritis-related knee pain.
The report segments the joint pain injection market as follows:
By Drug
Hyaluronic Acid
Corticosteroid
Others
By Joint Type
Knee
Foot and Ankle
Shoulder and Elbow
Hip
Others
By Distribution Channel
Retail Pharmacies
Hospitals Pharmacies
Others
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