The joint pain injections market involves the use of injections directly into the affected joints to reduce pain and inflammation. Some common types of injections used are corticosteroid injections, hyaluronic acid injections, and platelet-rich plasma injections. These injections help improve joint mobility and function while reducing joint swelling and pain without surgery. The growing geriatric population experiencing age-related joint disorders like osteoarthritis and rheumatoid arthritis is a major driver boosting demand for joint pain injections.
The Global joint pain injections market is estimated to be valued at US$ 9.46 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period of 2024-2031.
Key Takeaways
Key players operating in the Joint Pain Injections Market Growth are Pfizer, Inc., Ferring Pharmaceuticals Inc., PACIRA BIOSCIENCES, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., AbbVie Inc., Sanofi, Anika Therapeutics, Inc., Bioventus, Dr. Reddy’s Laboratories Ltd., Zimmer Biomet, Ferring B.V., SEIKAGAKU CORPORATION, and Ono Pharmaceutical Co., Ltd. The key players are focusing on new product launches and strategic collaborations to expand their presence and gain competitive advantage in the market.
The increasing prevalence of arthritis and other orthopedic disorders presents significant growth opportunities for players in the joint pain injections market. Innovative and advanced injection technologies are being developed to provide longer duration of pain relief with minimally invasive procedures.
The rising geriatric population globally is prompting companies to focus on emerging markets in the Asia Pacific, Latin America, and Middle East & Africa regions. Strategic partnerships with local players help gain regulatory approvals and establish manufacturing and distribution networks in these high growth markets.
Market drivers
The growing geriatric population prone to joint disorders is a major driver as the risk of conditions like osteoarthritis increases with age. According to estimates, over 1.26 billion people or 16.9% of the world’s population will be aged 65 years or older by 2050. Furthermore, improving access to healthcare and growing awareness about treatment options is also expected to boost the joint pain injections market during the forecast period.
PEST Analysis
Political: Governments across the globe are increasingly focusing on reducing healthcare costs and prioritizing key treatment areas like chronic pain management. This creates a supportive environment for joint pain injections.
Economic: Rising disposable incomes are enabling more patients to opt for injectable treatments for joint pain. However, economic slowdowns can limit the growth potential of elective procedures.
Social: Growing awareness about alternatives to oral medication and the benefits of localized drug delivery is positively impacting the demand for injections. An aging population also contributes to the need for pain management options.
Technological: Advancements in injection delivery systems, drugs and techniques help improve treatment outcomes. This encourages both patients and physicians to use injections more often.
The North American region commands the largest share of the global market in terms of value due to the high adoption of injection therapies. Factors such as growing obesity rates, rising geriatric population and expanding medical reimbursement policies support the widespread use of injections.
The Asia Pacific region is poised to witness the fastest CAGR during the forecast period on account of increasing accessibility of novel therapies, rising medical tourism and growing investments by key market players looking to tap the high-potential emerging economies.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it