Joint pain injections are medicines directly injected into the joints to provide relief from pain and inflammation by blocking pain signals from nerves. Certain joint pain injections contain glucocorticoids, which help reduce inflammation and swelling. Some common types of joint pain injection procedures include corticosteroid injections, platelet-rich plasma injections, viscosupplementation injections, and hyaluronic acid injections. Joint pain injections are used to treat various joint disorders like osteoarthritis, rheumatoid arthritis, gout, and repetitive strain injuries. The increasing prevalence of these joint disorders has prompted the demand for safe and effective pain relief options like joint 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 2024 to 2031. Key Takeaways Key players operating in the Joint Pain Injections 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 Joint Pain Injections Market Growth provides ample opportunities such as growing awareness about minimally invasive procedures, technological advancements in drug delivery systems and formulation, and rising demand for effective pain management therapies. Globally, market leaders are focusing on expanding their reach into high growth regions such as Asia Pacific and Latin America. Companies are collaborating with local players, offering licensing & distribution agreements to establish manufacturing facilities and strengthen their geographic presence. Key drivers for the Joint Pain Injections market include rising geriatric population who are more prone to joint disorders and growing obesity rates leading to increased risk of osteoarthritis. However, risks & side effects associated with corticosteroid injections like flare reaction, tendon rupture, skin depigmentation and infection may restrain the market growth. Market Drivers: The increasing geriatric population globally is expected to serve as a key growth driver. Older individuals are more likely to develop joint disorders like osteoarthritis due to normal ageing processes, wear and tear of cartilage, and reduced mobility. Growing obesity rates worldwide are also estimated to drive market demand. Obesity increases the risk and severity of osteoarthritis due to excess pressure on weight-bearing joints. Market Restraints: Risks and potential side effects associated with joint pain injections, particularly corticosteroid injections may hinder the market growth. Corticosteroid injections carry risks like tendon rupture if accidentally injected into the tendon instead of joint, flare reaction causing increased pain, skin discoloration and depigmentation near the injection site, and infection if proper sterilization procedures are not followed. These safety concerns can negatively impact the adoption of joint pain injection therapies. Segment Analysis The knee and hip injections segment is dominating the joint pain injections market and is expected to continue dominating during the forecast period. Knee and hip injections sub-segment dominates as it provides fast pain relief and also prevents and treats various knee and hip disorders such as osteoarthritis. The injections directly target the knee and hip joints and release corticosteroids that reduce inflammation and pain. This makes knee and hip injections an effective treatment option among patients suffering from chronic knee and hip pain. Global Analysis North America region is dominating the global joint pain injections market and is expected to continue dominating during the forecast period. Presence of major players, growing geriatric population and rising prevalence of diseases like osteoarthritis are some key factors contributing to the dominance of North America region. Asia Pacific region is expected to witness the fastest growth during the forecast period. Economic development in countries like India and China, increasing awareness about treatments and rising healthcare expenditure is boosting the joint pain injections market in Asia Pacific region. Get More Insights On This Topic: Joint Pain Injections Market
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May 2024
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