Market Introduction
The Europe joint pain injection market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Hyaluronic acid injections offered by companies are usually administered for treating sports injuries, as they aid in pain relief, reduce inflammation, and improve joint function. Corticosteroids are also used to treat sports-related injuries. Sports injuries are caused due to direct impact, or the application of force that is larger than the body part can withstand. The most common sport injuries are sprains, strains, joint injuries, and bruises. Developments by the market players in the region is further boosting the growth of the market. In August 2020, Lupin Limited (Lupin) and Mylan N.V. launched of Nepexto, biosimilar etanercept, in the German market which is indicated for the treatment of active rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, axial spondylarthritis, plaque psoriasis and chronic severe plaque psoriasis. Such product launches of drugs are likely to favor the growth of the market.
Several European countries 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. Also, the pandemic has halted the adoption of new medical device policy and delayed clinical trials and disrupted processes. Two consecutive waves of coronavirus had devastating impact on economic activities in the Europe. Implementation of social distancing and lockdown policies led to closing of orthopedic hospitals and patient visits for elective orthopedic surgeries. This factor negatively impacted the adoption of joint pain injection. In addition, disrupted supply chains, extended lockdowns, and cancelling of orthopedic medical procedures have also negativity affected the growth of the joint pain injection market. The hospitals in the region are cancelling other surgical procedures to keep healthcare facilities free for COVID-19 patients. Moreover, increasing COVID-19 infection in healthcare workers is leading to shortage of staff. These factors are negatively impacting the growth of the joint pain injection market.
Market Overview and Dynamics
The joint pain injection market in Europe is expected to grow from US$ 595.20 million in 2021 to US$ 1,035.54 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2021 to 2028. Countries in Europe are emerging as attractive outsourcing locations for pharmaceuticals and biopharmaceuticals industries. Flourishing domestic pharmaceutical market and increasing number of pipeline drugs are further opening new avenues for the contract manufacturers as well as generic drug manufacturing in the region. Additionally, to meet the growing demand, many contract-based organizations are expanding their manufacturing capabilities. Thus, the emerging markets hold high potential and huge revenue generation opportunities for the pharmaceutical manufacturing companies. Increasing prevalence of joint pain is driving the joint pain injection market. According to the results of survey on “Les Français et les Rhumatismes” (Rheumatic Diseases and the French), conducted by Inserm and “Ensemble Contre les Rhumatismes” (Together Against Rheumatic Diseases), 93% of French people report having suffered from joint pain. Furthermore, it has also mentioned that 12-13 million French people have suffered from rheumatic diseases that includes 9 -10 million people suffering from osteoarthritis, around 6,00,000 from chronic inflammatory rheumatic diseases and nearly 4,000 children suffer from idiopathic juvenile arthritis. Thus, growing prevalence of joint diseases is likely to drive the market growth during the forecast period.
Key Market Segments
Based on drugs, the hyaluronic acid segment accounted for the largest share of the Europe joint pain injection market in 2020. Based on joint type, the knee segment accounted for the largest share of the Europe joint pain injection market in 2020. Based on distribution channel, the hospitals pharmacies segment accounted for the largest share of the Europe joint pain injection market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe joint pain injection market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Chugai Pharmaceutical Co., Ltd.; Bioventus Inc.; Fidia Pharma USA Inc.; Seikagaku Corporation; Ferring B.V.; Sanofi; Anika Therapeutics, Inc; and Teva Pharmaceutical Industries Ltd.
Reasons to buy report
Europe Joint Pain Injection Market Segmentation
Europe Joint Pain Injection Market -By Drugs
Europe Joint Pain Injection Market -By Joint Type
Europe Joint Pain Injection Market -By Distribution Channel
Europe Joint Pain Injection Market – By Country
Europe Joint Pain Injection Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 595.20 Million |
| Market Size by 2028 | US$ 1,035.54 Million |
| CAGR (2021 - 2028) | 8.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Drugs
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Joint Pain Injection Market is valued at US$ 595.20 Million in 2021, it is projected to reach US$ 1,035.54 Million by 2028.
As per our report Europe Joint Pain Injection Market, the market size is valued at US$ 595.20 Million in 2021, projecting it to reach US$ 1,035.54 Million by 2028. This translates to a CAGR of approximately 8.2% during the forecast period.
The Europe Joint Pain Injection Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Joint Pain Injection Market report:
The Europe Joint Pain Injection Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Joint Pain Injection Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Joint Pain Injection Market value chain can benefit from the information contained in a comprehensive market report.
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