Hyaluronic Acid Segment to Dominate South and Central America Joint Pain Injection Market during 2021-2028

According to a new market research study on “South and Central 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$ 199.41 million by 2028 from US$ 124.78 million in 2021. The market is estimated to grow at a CAGR of 6.9% from 2021 to 2028. The report provides trends prevailing in the South and Central America joint pain injection market along with the drivers and restraints pertaining to the market growth. Increasing Instances of musculoskeletal disorders and proliferation in the number of sports injuries are major factors driving the growth of the South and Central America joint pain injection market. However, high costs of joint repair therapies hinder the growth of South and Central America joint pain injection market.

Brazil 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.  A considerable number of countries in South America have very underdeveloped healthcare infrastructure. In addition, the availability of joint pain injections in the region is also significantly lower. For instance, Peru, has less than 1000 intensive care unit beds for its 32 million inhabitants. Furthermore, supply chain disruption caused due to congestion of ports and disturbances in other transport means had substantial impact on the distribution of joint pain injections in the region. All these factors considerably deterred the growth of South and Central America joint pain injections market.

The market for South and Central 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 hyaluronic acid segment held the largest share in South and Central America joint pain injection market. Based on joint type, the South and Central 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 South and Central America joint pain injection market. Based on country, the South and Central America joint pain injection market is bifurcated into Brazil, Argentina and rest of South and Central America. In 2020, Brazil held the largest share in South and Central America joint pain injection market. Furthermore, in this present scenario of COVID 19 pandemic, the South and Central America joint pain injection market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South and Central America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for joint pain injection.

Bioventus Inc.; Fidia Pharma USA Inc.; Seikagaku Corporation; Ferring B.V.; Sanofi; Anika Therapeutics, Inc; and Teva Pharmaceutical Industries Ltd. are some of the leading companies in the South and Central 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com