by The Canada viscosupplementation market comprises injectable viscoelastic supplements intended to replenish synovial fluid and treat osteoarthritis-related pain. Viscosupplementation is a non-surgical treatment that delivers hyaluronic acid into the knee joint to improve lubrication and protect cartilage. It provides pain relief and improves joint mobility for several months.
Canada viscosupplementation Market is estimated to be valued at US$ 150.8 Mn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Canada viscosupplementation are Anika Therapeutics Inc., Ferring Pharmaceuticals, Bioventus, Mylan N.V., Sanofi S.A., Teva Pharmaceutical Industries Ltd, Johnson & Johnson., F. Hoffmann-La Roche AG, and Zimmer Biomet. Growing prevalence of osteoarthritis and rising geriatric population suffering from joint disorders are fueling the demand for viscosupplementation in Canada. The market is witnessing high growth owing to increasing adoption of non-invasive treatment options and favorable reimbursement policies for viscosupplementation.
Rising cases of osteoarthritis mainly due to obesity, sports injuries and aging population are driving the demand for viscosupplementation in Canada. As per studies, over 4.6 million Canadians suffer from osteoarthritis making it a major healthcare issue. Additionally, favorable reimbursement for hyaluronic acid injections by both public and private payers is encouraging more patients to opt for viscosupplementation.
The Canada viscosupplementation market is expanding globally with key players focusing on geographical expansion and product innovation. Major players are targeting emerging markets through strategic collaborations, partnerships and joint ventures. Also, companies are investing heavily in development of single and multi-injection hyaluronic acid viscosupplements to improve efficacy and patient compliance.
Market Key Trends
One of the key trends in Canada viscosupplementation market is growing preference for triple injection viscosupplements. Conventional single or dual injection therapies require multiple visits to the clinic which reduces patient compliance. Triple injection therapies provide sustained pain relief for 6 months from a single treatment course. They enable administering full dose of hyaluronic acid effectively while minimizing clinic visits. This is positively influencing the adoption of triple injection viscosupplements.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established brand value of existing players make entry difficult.
Bargaining power of buyers: Large buyers can negotiate lower prices however regulated nature of market restricts bargaining power.
Bargaining power of suppliers: Presence of several suppliers of raw materials limits their influence on pricing and supply.
Threat of new substitutes: Alternate treatment methods pose a threat but viscosupplementation continues to be the preferred first line treatment.
Competitive rivalry: Strong competition between major multinational corporations to gain market share through expansion and new product launches.
Geographical Regions
The Canada viscosupplementation market is primarily concentrated in Ontario and Quebec regions. Ontario accounts for the largest share owing to presence of major cities, availability of advanced healthcare facilities and higher disease prevalence rates. The Prairie provinces including Alberta and Saskatchewan are the fastest growing regional markets driven by expansion of urban healthcare infrastructure, aging population and adoption of new viscosupplementation products.
The Germany eBike market has been gaining significant traction over the past few years. An eBike or electric bicycle is a bicycle fitted with an electric motor, battery pack and other components that add propulsion assist to the rider. These bikes provide support to the rider based on pedal assist or throttle assist. They have opened up cycling to wider range of users by making bicycles more accessible. With properties of regular bicycles as well as benefits of electric bikes, they have become an integral part of mobility solutions across Germany.
Germany eBike market is estimated to be valued at US$ 3.4 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Germany eBike market are focusing on developing high-performance and upgraded eBike models to attract more consumer base. For instance, in 2021, Accell Group launched Haibike brand’s e-mountain bikes Sduro FullSeven and e-trekking bike Trekking AllMtn.
Demand for eBikes has increased significantly over the past few years owing to growing awareness about eco-friendly transportation. The ability of eBikes to travel longer distances with less effort down with growing health consciousness is supporting its adoption across Germany.
Increased investments by manufacturers to expand production facilities in Germany is helping drive the overall market growth. For example, in 2020, Frooze Electric Bikes inaugurated its new production line in Berlin to double its manufacturing capacity.
Market Drivers
The primary factor fueling the Germany eBike market growth is rising environmental awareness. With stringent norms regarding vehicular emissions, consumers are shifting towards greener commuting options like eBikes. Their pedal assist feature allows riding without much physical exertion thereby attracting users of all age groups.
The cost of owning an eBike is significantly lower than other vehicles in terms of maintenance and fuel costs. They also offer convenience of parking without restrictions. These economic benefits coupled with subsidies by government on purchasing eBikes are encouraging their adoption.
Geopolitical Situation and its Impact on Germany eBike Market Growth
The current geopolitical tensions arising from the Russia-Ukraine war is negatively impacting the Germany eBike market growth. Supply chain disruptions due to sanctions on Russia are creating raw material shortages especially for lithium-ion batteries that are crucial for eBikes. This is hampering the production capabilities of eBike manufacturers in Germany. Additionally, economic uncertainties in Europe arising from high inflation rates and potential energy crisis during the winter season are affecting the consumer buying behavior and discretionary spending on expensive eBikes. The Germany eBike market relies significantly on exports within the European Union region for its growth. However, an economic recession in key European countries will reduce the overall demand. To overcome these challenges, eBike manufacturers need to diversify their supply sources and establish new partnerships beyond the European region. They also need to focus on localization of battery manufacturing and source critical raw materials domestically or from politically stable trading partners. Incentivizing demand through subsidies and promotion of eco-friendly mobility can help boost the sales. Strategic mergers and acquisitions can enhance manufacturing and distribution scale required to navigate the geopolitically volatile environment.
Germany Remains The Largest Market In Terms Of Value
Currently, Germany accounts for over 30% of the total Europe eBike market value estimated to be around US$ 5 billion annually. The high concentration is due to growing domestic demand and strong presence of leading domestic brands like Gazelle, Prophete, HNF Nicolai in the country. Germans are increasingly adopting eBikes not just for recreational usage but also as a more sustainable mode of urban transportation. This is complemented by extensive infrastructure of dedicated bike lanes in major cities and government incentives for purchasing eBikes. With growing environmental concerns, ongoing trends of urbanization and mature eMobility market, Germany is expected to retain its top position as the largest eBike market in value terms over the forecast period between 2024 to 2031.
France Emerging As The Fastest Growing Regional Market
Among all the geographical regions, France is poised to witness the fastest growth in the eBike market over the next 7 years. Led by increasing consumer awareness about health, wellness and eco-friendliness of cycling, the French retail eBike sales have grown by over 25% annually since 2018. The government aggressively promoting cycling culture through investments in cycling infrastructure network across major cities and countryside has boosted the demand. Additionally, lucrative financial subsidies for purchasing electric bikes have incentivized consumers to switch from cars to eBikes. Favorable climate and flat terrains make ecycling highly popular among French population. With expected investments in further expanding the cycling infrastructure, France has strong potential to surpass other European countries and emerge as the second largest eBike market after Germany in the coming years.
What Are The Key Data Covered In This Canada Viscosupplementation Market Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Canada Viscosupplementation Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Canada Viscosupplementation Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Canada Viscosupplementation Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Canada Viscosupplementation Market vendors
FAQ’s
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Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Canada Viscosupplementation Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Canada Viscosupplementation Market’s distributors, traders, and dealers?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
