Report : North America Joint Pain Injection Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Drugs (Hyaluronic Acid, Corticosteroid, and Others), Joint Type (Knee, Foot and Ankle, Shoulder and Elbow, Hip, and Others), and Distribution Channel (Retail Pharmacies, Hospitals Pharmacies, and Others)
Corticosteroid Segment to Dominate North America Joint Pain Injection Market during 2021-2028
According to a new market research study on “North America Joint Pain Injection Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Drugs, Joint Type, Distribution Channel and Country,” is expected to reach US$ 5.010.47 million by 2028 from US$ 2,785.42 million in 2021. The market is estimated to grow at a CAGR of 8.7% from 2021 to 2028. The report provides trends prevailing in the North America joint pain injection market along with the drivers and restraints pertaining to the market growth. High prevalence of musculoskeletal disorders and increasing number of sports injuries are major factors driving the growth of the North America joint pain injection market. However, high costs of joint repair therapies hinder the growth of North America joint pain injection market.
In North America, especially the US witnessed an unprecedented rise in the number of COVID-19 cases, which led to the discontinuation of several business operations and manufacturing activities of various healthcare products, including joint pain injections, which negatively impacted the joint pain injection market. In order to manage the outbreak, government took preventive measures including total lockdowns and social distancing policies. In addition, medical device industry is also facing negative impact of this pandemic. As the COVID-19 pandemic continues to unfold, medical device companies are finding difficulties in managing their operations. Cancelling elective surgeries to reduce exposure to COVID-19 in the hospital and operating rooms into intensive care units is also negatively affecting the growth of the joint pain injection market. However, at end of second quarter, restrictions on orthopedic procedures were lifted by the US government and patients were also allowed to visit orthopedic offices. Such decisions helped market players to recover their losses during the pandemic.
The market for North America joint pain injection is segmented into drugs, joint type, distribution channel and country. Based on drugs, the market is segmented into hyaluronic acid, corticosteroid, and others. In 2020, the corticosteroid segment held the largest share in North America joint pain injection market. Based on joint type, the North America joint pain injection market is divided into knee, foot & ankle, shoulder & elbow, hips, and others. The knee segment is expected to be the fastest growing segment over the forecast period. Based on distribution channel, the market is segmented into retail pharmacies, hospitals pharmacies, and others. In 2020, the hospitals pharmacies segment held the largest share in North America joint pain injection market. Based on country, the North America joint pain injection market is bifurcated into US, Canada and Mexico. In 2020, US held the largest share in North America joint pain injection market. Furthermore, in this present scenario of COVID 19 pandemic, the North America joint pain injection market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for joint pain injection.
Chugai Pharmaceutical Co., Ltd.; Bioventus Inc.; Fidia Pharma USA Inc.; Flexion Therapeutics, Inc.; Seikagaku Corporation; Ferring B.V.; Sanofi; Anika Therapeutics, Inc; OrthogenRx, Inc. and Teva Pharmaceutical Industries Ltd. are some of the leading companies in the North America joint pain injection market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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