Market Introduction
The South and Central America 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. The countries in the region are emerging as attractive outsourcing locations for pharmaceuticals and biopharmaceuticals industries. Some of the major countries contributing to the market's growth include Chile, Colombia, Peru, Cuba, Venezuela, and Bolivia. The countries offer significant growth opportunities for the market’s growth. The countries are growing domestic productions for pharmaceutical productions. Flourishing domestic pharmaceutical market in South and Central America 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.
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.
Market Overview and Dynamics
The joint pain injection market in South and Central America is expected to grow from US$ 124.78 million in 2021 to US$ 199.41 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2021 to 2028. Brazil is the fifth largest country in the world both by area and by population and experiencing the fastest demographic aging worldwide. In Brazil, the aging population is at a rapid pace and in a context of regional and historical socioeconomic inequalities. According to the study conducted in Brazil, the community of women estimated at the vast majority with 16.9 million (56%) of elderly persons, whereas older adults estimated approx. 13.3 million (44%). The growing aging population leads and increasing incidence of orthopedic diseases. Such growing conditions are likely to drive the adoption of medical devices, which will eventually drive the Brazil joint pain injection market during the forecast period. Similar to Brazil, Argentina is also the largest country in the region. The country has a vital role to play in the medical equipment industry. The country has to experience development in the private and public healthcare sectors. Further, Argentina is strengthening its human resources with highly skilled professionals across all the healthcare sectors. Argentina offers high-quality health services, which are considered among the best in Latin America. In cities, Buenos Aires, Córdoba, or Mendoza, hospitals, and clinics have advanced infrastructure with competent medical staff. Thus, it is expected that the country owes significant growth opportunities for the market.
Key Market Segments
Based on drugs, the hyaluronic acid segment accounted for the largest share of the South and Central America joint pain injection market in 2020. Based on joint type, the knee segment accounted for the largest share of the South and Central America joint pain injection market in 2020. Based on distribution channel, the hospitals pharmacies segment accounted for the largest share of the South and Central America 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 South and Central America 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 Bioventus Inc.; Fidia Pharma USA Inc.; Seikagaku Corporation; Ferring B.V.; Sanofi; Anika Therapeutics, Inc; and Teva Pharmaceutical Industries Ltd.
Reasons to buy report
South and Central America Joint Pain Injection Market Segmentation
South and Central America Joint Pain Injection Market -By Drugs
South and Central America Joint Pain Injection Market -By Joint Type
South and Central America Joint Pain Injection Market -By Distribution Channel
South and Central America Joint Pain Injection Market – By Country
South and Central America Joint Pain Injection Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 124.78 Million |
| Market Size by 2028 | US$ 199.41 Million |
| CAGR (2021 - 2028) | 6.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Drugs
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South and Central America Joint Pain Injection Market is valued at US$ 124.78 Million in 2021, it is projected to reach US$ 199.41 Million by 2028.
As per our report South and Central America Joint Pain Injection Market, the market size is valued at US$ 124.78 Million in 2021, projecting it to reach US$ 199.41 Million by 2028. This translates to a CAGR of approximately 6.9% during the forecast period.
The South and Central America 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 South and Central America Joint Pain Injection Market report:
The South and Central America Joint Pain Injection Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Joint Pain Injection Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Joint Pain Injection Market value chain can benefit from the information contained in a comprehensive market report.
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