Russia Viscosupplementation Market is projected to exceed a valuation of US$ 84.86 Million by 2032 at a CAGR of 6.2%

Sales of Russia’s Viscosupplementation Market is likely to reach a valuation of US$ 46.5 million in 2022, predicted to reach US$ 84.86 million by 2032 and are predicted to increase at a CAGR of 6.2% from 2022 to 2032. Three-injection viscosupplementation accounted for nearly 70% of the viscosupplementation revenues generated throughout Russia in 2016, according to a recent study by Future Market Insights titled “Viscosupplementation Market: Russia Industry Analysis and Opportunity Assessment, 2016-2026.”

According to the study, the Russian viscosupplementation market generated over RUB 1.13 billion (US$ 19 million) in revenue in 2016. Russia’s viscosupplementation revenues are anticipated to hit RUB 2.02 billion (US$ 34 million) by the end of 2026, growing steadily at a 5.8% CAGR.

Leaders in the Russian healthcare sector will continue to increase output of three-injection viscosupplementation products rather than single injection and five-injection viscosupplementation products due to the higher demand for these products.

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Russia’s healthcare infrastructure will continue witnessing significant rise in number of orthopaedic patients as several bone & joint-related disorders are likely to be caused by people’s eating & drink habits, their proactive lifestyles and the country’s harsh weather conditions. Rising occurrence of joint-related ailments such as knee osteoarthritis in Russia are a result of people performing physical labour in severely cold weather conditions. This has necessitated the adoption of viscosupplementation as an ideal medical procedure for injecting lubricating fluid in bone joints during surgeries. An in-depth analysis of Russia’s viscosupplementation market, conducted by Future Market Insights, projects that demand for three-injection viscosupplementation will gain traction over the next decade.

The report also establishes projections regarding the end-use of viscosupplementation in Russia. Hospitals across the country will account for just above RUB 1.24 billion (US$ 21 million) revenues by the end of projection period. Within this, the demand for viscosupplementation will remain considerably higher in hospitals with capacity of more than 500 beds. End-use of viscosupplementation in Russia’s ambulatory surgical centres (ASCs) will remain nascent, while revenues accounted by orthopaedic clinics are expected to surpass RUB 595 million (US$ 10 million) through 2026.

Top Players in Russia’s Viscosupplementation Market

Top three established players in Russia’s Viscosupplementation market include Hyaltech, Croma-Pharma GmbH and TRB Chemedica. The market is fragmented with small players holding substantial market share. While Hyaltech, Croma-Pharma GmbH and TRB Chemedica collectively dominate with more than half of the country’s viscosupplementation revenues.

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International players such as Sanofi, Ferring Pharmaceuticals and Fidia Farmaceutici spa have low share as compared to the other players, Anika Therapeutics has recently launched their viscosupplementation product in Russia’s viscosupplementation market.

The market is divided into two segments based on product type and end use:

By Product Type

• Single Injection Viscosupplementation
• Three Injection Viscosupplementation
• Five Injection Viscosupplementation

By End Use

• Hospitals
  • 500+ Bedded
  • 250-500 Bedded
  • Less Than 250 Bedded
•  Ambulatory Surgical Centres
• Orthopaedic Clinics

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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