Latin America Viscosupplementation Market Size & Outlook
Latin America viscosupplementation market, 2018-2030 (US$M)
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Latin America viscosupplementation market highlights
- The Latin America viscosupplementation market generated a revenue of USD 107.2 million in 2023.
- The market is expected to grow at a CAGR of 10.1% from 2024 to 2030.
- In terms of segment, single injection was the largest revenue generating product in 2023.
- Single Injection is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 107.2 million |
| Market revenue in 2030 | USD 210.3 million |
| Growth rate | 10.1% (CAGR from 2023 to 2030) |
| Largest segment | Single injection |
| Fastest growing segment | Single Injection |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Single Injection, Three Injection, Five Injection |
| Key market players worldwide | DePuy Synthes, Sanofi SA, Smith & Nephew PLC, Anika Therapeutics Inc, Zimmer Biomet Holdings Inc, Ferring, Lifecore Biomedical Inc, LG Chem, Roche Holding AG |
Other key industry trends
- In terms of revenue, Latin America region accounted for 2.2% of the global viscosupplementation market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 1,284.7 million by 2030.
Single injection was the largest segment with a revenue share of 42.82% in 2023. Horizon Databook has segmented the Latin America viscosupplementation market based on single injection, three injection, five injection covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America is considered as a potential market for viscosupplements owing to its improving healthcare scenario and increasing disposable income. Single-injection cycle is gaining foothold in this region. While efficacy and safety are rated in other parts of the world, Latin Americans view reimbursement and pricing as the decisive factors while choosing hyaluronic acid treatment.
Many companies are entering this regional market through local distribution networks. For instance, Arthromeds is a distributer of Anika Therapeutics in Columbia for its product HYALOFAST. In addition, rising incidence of osteoarthritis in Latin American countries may further propel the demand for viscosupplements in this region.
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Viscosupplementation Market Scope
Viscosupplementation Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America viscosupplementation market size, by country, 2018-2030 (US$M)
Latin America Viscosupplementation Market Outlook Share, 2023 & 2030 (US$M)
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