The Latin America, Middle East and Africa Viscosupplementation Market would witness market growth of 11.0% CAGR during the forecast period (2023-2030).
The high adoption of pain medications to treat osteoarthritis-related pain is anticipated to continue over the coming years, driving market growth. Personalized OA medications have been created, significantly improving the diagnosis, treatment, and monitoring of disease activity in osteoarthritis patients. Ease of measurement, suitable levels of sensitivity and specificity, and test methods that are easily interpretable by clinicians are essential characteristics of biomarkers with clinical relevance for a personalized approach to therapy for arthritis like rheumatoid arthritis (RA) and osteoarthritis (OA).
Using biomarkers to identify patients likely to react to particular medical therapies may boost treatment response rates and lower the risk of exposing patients to therapies that are unlikely to be beneficial or harmful treatment-related adverse effects. Combining distinct biomarkers and baseline clinical characteristics, such as age and sex, may improve efforts to personalise RA and OA treatment regimen.
Additionally, according to National Library of Medicine, the prevalence of overweight as well as obesity, respectively, falls in the range of 23.5-62.1 and 14.5-40.6 in the Middle East in 2022. According to the same source, Israel, Kuwait, and Syria had the highest rates of obesity and overweight people. The rise in the incidence of non-communicable diseases, such as obesity, may be attributed to changes in lifestyle over the previous few years, such as Arabic diets (high-calorie, fatty meals like fast food), alcohol drinking, and decreased physical activity. As a result of the age-standardized prevalence of OA along with obesity in the LAMEA region, the market will grow rapidly in the coming years.
The Brazil market dominated the LAMEA Viscosupplementation Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $139.5 million by 2030. The Argentina market is showcasing a CAGR of 11.6% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 10.7% during (2023 - 2030).
Based on Application, the market is segmented into Knee Osteoarthritis, Hand Osteoarthritis, Hip Osteoarthritis, and Others. Based on Product, the market is segmented into Three Injection, Single Injection, and Five Injection. Based on End-use, the market is segmented into Hospitals, and Orthopedic Clinics/ASCs. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Viscosupplementation Market is Projected to reach USD 8.2 Billion by 2030, at a CAGR of 8.6%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include DePuy Synthes (Johnson & Johnson), Sanofi S.A., Zimmer Biomet Holdings, Inc., Ferring Holdings SA, F. Hoffmann-La Roche Ltd., LG Chem Ltd. (LG Corporation), Anika Therapeutics, Inc., Fidia Farmaceutici S.p.A. (P&R Farmaceutici S.p.A), Smith & Nephew PLC and Seikagaku Corp.
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