Joint Pain Injections Market to Exhibit a CAGR of 10.4% from 2024 to 2032; Dr. Reddy’s Laboratories Ltd. Released its Generic Methylprednisolone Sodium Succinate for injection for the Treatment of Different Conditions

The global joint pain injections market size stood at USD 5.25 billion in 2023. The market value is slated to rise from USD 5.77 billion in 2024 to USD 12.71 billion by 2032 at a CAGR of 10.4% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Joint Pain Injections Market Size, Share & Industry Analysis, By Product (Corticosteroid Injections, Hyaluronic Acid Injections, Platelet Rich Plasma Injections, and Others), By Joint Type (Knee, Hip, Hand & Wrist, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2024-2032”

Joint pain injections showcase high effectiveness in treating musculoskeletal afflictions. The surging demand for joint pain injections owing to the rising awareness of the advantages of intra-articular injections to treat joint pain is escalating market growth.

There was a decrease in the market growth amid the COVID-19 pandemic on account of the decline in patient visits for treatment, which led to a drop in the overall demand for the product. However, the robust emphasis of market leaders on devising and introducing novel products and the rise in the occurrence of musculoskeletal disorders are expected to boost market growth.

Dr. Reddy’s Laboratories Ltd. Unveiled its Generic Methylprednisolone Sodium Succinate for Managing Various Conditions

In April 2022, Dr. Reddy’s Laboratories Ltd. announced the launch of its generic Methylprednisolone Sodium Succinate for injection. The product is indicated for the management of different disorders, including critical allergic reactions, blood disorders, and arthritis. Moreover, the product has received U.S. FDA approval and is the generic equivalent of SOLUMEDROL.

Market Value to Grow Owing to Rising Awareness of Musculoskeletal Disorders and Surging Number of Sports Injuries

The joint pain injections market growth is driven by an increase in the number of sports injuries coupled with the surging awareness of musculoskeletal disorders. Moreover, the growing cases of sports injuries, including muscle and ligament injuries across the globe, are leading to an increasing patient population suffering from chronic pain and other bone conditions. As a result, it is boosting the demand for pain management therapies, including joint pain injections, among others.

Despite an expanding scope for the adoption of the product, the prohibitive cost related to the product may impede its adoption in emerging nations, hampering market growth.

Leading Companies Leverage Product Development Strategies to Broaden Their Portfolio

Prominent companies are increasingly emphasizing R&D activities to improve the efficiency of pain management products while generating awareness of the products to serve the growing demand among the patient population. Few companies, including Dr. Reddy’s, Anika Therapeutics Inc., Sanofi, and Ferring B.V., among others, have a strong emphasis on the development and introduction of novel products in global markets, which is slated to aid their rising share in the market. Moreover, many leading companies emphasize product innovation strategies to expand their portfolio.

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List of Key Players Profiled:

• SEIKAGAKU CORPORATION (Japan)
• Bioventus (U.S.)
• Anika Therapeutics, Inc. (U.S.)
• Zimmer Biomet (U.S.)
• Sanofi (France)
• Pacira BioSciences, Inc. (U.S.)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Ferring B.V. (Switzerland)
• Dr. Reddy’s Laboratories Ltd. (India)

Key Industry Development

• August 2021 – SEIKAGAKU CORPORATION announced the Taiwanese launch of a viscosupplementation injection, Hylink. The injection is indicated to treat knee osteoarthritis through TCM Biotech International Corp.

Further Report Findings:

• North America accounted for the largest joint pain injections market share in 2023. The surge in the incidence of osteoarthritis in the U.S. and Canada, which is leading to the growing uptake of treatment alternatives, such as intra-articular injections among the patient population, is driving regional growth.
• On the basis of product, the joint pain injections market is divided into platelet rich plasma injections, corticosteroid injections, hyaluronic acid injections, and others. The hyaluronic acid injections segment registered the largest share in 2023. The growing support offered by government bodies for the promotion of treatment alternatives among patients in many nations is augmenting hyaluronic acid injection segment expansion.

Table of Segmentation