What Anika does

Anika Therapeutics, Inc. is a publicly traded medical device and therapeutics company (NASDAQ: ANIK) founded in 1992 as a spin-off of MedChem Products and headquartered in Bedford, Massachusetts, with additional operations in Warsaw, Indiana and Padua, Italy. The company specializes in hyaluronic acid (HA)-based orthopedic regenerative solutions and osteoarthritis (OA) pain management, organized into two segments: Regenerative Solutions (Integrity tendon scaffold, Hyalofast cartilage scaffold, Tactoset injectable bone substitute, NanoFx nanofracture system) and OA Pain Management (Cingal combination injection, Monovisc single-injection viscosupplement, Orthovisc multi-injection viscosupplement). Customer end-users are orthopedic surgeons, sports medicine physicians, podiatrists, and the patients they treat for joint pain, cartilage lesions, tendon tears, and bone defects.

The product portfolio is built on two proprietary HA technology platforms developed over more than 30 years: Hyaff, a 100% esterified hyaluronic acid that forms porous, biodegradable scaffolds supporting cellular infiltration and tissue regeneration (used in Integrity and Hyalofast); and a cross-linked HA gel technology that converts HA into a viscoelastic gel with extended joint residence time (used in Monovisc and Cingal). Clinical validation includes multiple Phase III trials (Cingal 92% responder rate at week 26), long-term outcome data (up to 16 years for Hyalofast), an FDA 510(k) clearance pipeline spanning 2004-2025, and a pending Premarket Approval application for Hyalofast in the US. Anika is ISO 13485:2016 and MDSAP certified through March 2028.

Anika operates a hybrid go-to-market model. In the United States, Monovisc and Orthovisc are exclusively distributed by J&J MedTech under partnerships established in 2003 and 2011, while products such as Integrity are sold through Anika's direct US sales force and a partner (DPS) covering select regions. Outside the US, Cingal and other products are sold through a global distributor network spanning more than 45 countries, with direct sales and support from the Italian subsidiary (Anika Therapeutics S.r.l.). Q2 2025 total revenue was $28.2 million, an 8% year-over-year decline attributed to manufacturing yield issues and an international OA pain order shortfall, with Regenerative Solutions revenue growing 41% on the strength of the Integrity Implant System. The company recently divested Arthrosurface (to Phoenix Brio in 2024) and Parcus Medical (to Medacta Group SA in 2025) to concentrate capital and management attention on its core HA platform.

Name

Anika

Legal name

Anika Therapeutics, Inc.

Website

https://anika.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Short description

Anika Therapeutics is a publicly traded medical device company that develops hyaluronic acid-based orthopedic regenerative solutions and osteoarthritis pain management products, serving orthopedic surgeons and patients in 45+ countries.

Ownership category

akta.pro rank

Product category

Orthopedic Medical Devices

NAICS

Medical Equipment and Supplies Manufacturing (3391), Surgical and Medical Instrument Manufacturing (339112), Surgical Appliance and Supplies Manufacturing (339113)

SIC

Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Orthopedic Trauma & Extremities Fixation (Plates/Screws/Nails/External Fixation) (HLAHAEAB)

akta.pro secondary industries

Pain Management (Spine & Musculoskeletal) (HLAKALAM), Orthopedic Surgery (Operative Orthopedics) (HLAKALAC), Hand & Upper Extremity (HLAKALAF)

Keywords

• Hyaluronic acid orthopedic solutions
• Regenerative orthopedic implants
• Osteoarthritis pain management
• Viscosupplementation injections
• Cartilage repair scaffolds

Headquarters

HQ city

New Bedford

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Regenerative Solutions: Revenue from HA-based implantable scaffolds and bone substitutes including Integrity, Hyalofast, Tactoset, and NanoFx. These products are sold to healthcare providers and surgical centers for orthopedic regenerative procedures.
2. OA Pain Management - Injectable Viscosupplements: Revenue from hyaluronic acid injection products for osteoarthritis pain management including Cingal, Monovisc, and Orthovisc. Products are sold through direct commercial partnerships and distributor networks globally.
3. Non-Orthopedic Solutions: Revenue from non-core HA-based products in animal health (Hyvisc for equine OA), ophthalmic applications, and other non-orthopedic solutions.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Anika develops, manufactures, and commercializes hyaluronic acid (HA)-based orthopedic medical devices organized into two product segments. Its Regenerative Solutions line includes HA scaffolds, injectable bone substitutes, and bone marrow stimulation devices for cartilage, tendon, and bone repair. Its OA Pain Management line provides HA viscosupplement injections (including a single-injection HA+steroid combination) for osteoarthritis pain. Products are sold to orthopedic surgeons, hospitals, and surgical centers through direct sales, an exclusive J&J MedTech US distribution partnership for viscosupplements, and a global distributor network in 45+ countries.

Product overview

Anika is a global leader in hyaluronic acid-based orthopedic regenerative solutions and osteoarthritis pain management. The company's portfolio consists of two main segments: Regenerative Solutions (Integrity, Hyalofast, Tactoset, NanoFx) and OA Pain Management (Cingal, Monovisc, Orthovisc). All products are built on proprietary HA technology platforms (Hyaff for scaffolds, Cross-linked HA for injectables). The Regenerative Solutions segment focuses on tissue repair and regeneration for cartilage, tendon, and bone, while the OA Pain Management segment provides viscosupplementation injections for joint pain. Products are commercially available in 45+ countries, with J&J MedTech serving as exclusive US distributor for Orthovisc and Monovisc.

Differentiator

Problem solved

Functional benefit

Products and services

• Integrity Implant System Hyaluronic acid-based scaffold for rotator cuff and tendon repair procedures that augments repairs and supports tendon healing through biologic enhancement and regenerative biology. Composed of 80% Hyaff and 20% PET, available in multiple sizes (20x25mm, 25x30mm, 25x60mm, 40x60mm). Used by orthopedic surgeons for tendon repair augmentation.
• Hyalofast 100% Hyaff single-stage cartilage repair scaffold that entraps mesenchymal stem cells from bone marrow and supports hyaline-like cartilage regeneration. Off-the-shelf biodegradable implant used in arthroscopic or mini-arthrotomy procedures, resorbing in vivo over approximately 6 months. Used by orthopedic surgeons for cartilage defect treatment.
• Tactoset HA-enhanced injectable bone substitute for treating insufficiency fractures, bone voids, and augmenting hardware such as suture anchors. Self-setting synthetic calcium phosphate that hardens in situ to mimic trabecular bone properties, supports cell-mediated regeneration, and provides greater than 2x pullout strength for augmented suture anchors. Used by orthopedic surgeons for bone defect and fracture management.
• NanoFx Advanced bone marrow stimulation system for cartilage repair using a 1mm diameter PleuriStik device that creates 9mm deep perforations versus standard 2mm microfracture depth, improving access to marrow cells for enhanced healing and reducing subchondral bone damage. Used by orthopedic surgeons as a single-use, sharp instrument for nanofracture cartilage procedures.
• Cingal Next generation single-injection combination product of high molecular weight cross-linked hyaluronic acid (Monovisc formulation) with triamcinolone hexacetonide corticosteroid for rapid and sustained knee osteoarthritis pain relief through 6 months. Registered and commercially available in 45+ countries. Used by orthopedic physicians for osteoarthritis knee pain management.
• Monovisc Single-injection high molecular weight, cross-linked HA viscosupplement for knee osteoarthritis containing 88mg HA at 22mg/mL concentration, providing long-lasting pain relief through 6+ months. Distributed exclusively by J&J MedTech in the United States. Used by orthopedic physicians for knee OA viscosupplementation.
• Orthovisc Multi-injection high molecular weight hyaluronic acid viscosupplement for knee osteoarthritis, administered as 3-4 weekly injections at 15mg/mL HA concentration. Distributed exclusively by J&J MedTech in the United States. Used by orthopedic physicians for knee OA viscosupplementation therapy.

Quantifiable outcome

• 41% growth in Regenerative Solutions revenue
• +7 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Phoenix Brio, IncorporatedminorOthers · 1 January 2024Completed divestiture of the Arthrosurface business to Phoenix Brio, Incorporated in 2024. Arthrosurface was a joint preservation solutions company acquired by Anika in 2020.
• Medacta Group SAminorOthers · 1 January 2020Completed divestiture of Parcus Medical to Medacta Group SA in 2025. Parcus Medical was a sports medicine company acquired by Anika in 2020 as part of the Arthrosurface acquisition.
• Johnson & JohnsoncoreChannel Partner/ Reseller/ Distributor · 1 January 2011Established marketing and distribution relationship with Johnson & Johnson (J&J MedTech) for Monovisc and Orthovisc in the United States. J&J MedTech serves as the exclusive US distributor for these hyaluronic acid viscosupplement products. Relationship began in 2011 with Monovisc distribution ahead of its 2014 FDA approval and expanded with Orthovisc.
• Fidia Advanced BiopolymerscoreStrategic or Co-development Partner · 1 January 2009Acquired technology used in Hyalofast through strategic acquisition of Fidia Advanced Biopolymers in 2009. This acquisition brought the Hyaff technology and cartilage regeneration platform that forms a core part of Anika's regenerative solutions portfolio.
• Johnson & JohnsoncoreChannel Partner/ Reseller/ Distributor · 1 January 2003Initial distribution agreement with Johnson & Johnson in 2003 to sell Orthovisc in the United States once approved by FDA. Orthovisc received FDA approval in 2004 and the relationship has continued for over two decades.
• Boehringer Ingelheim VetmedicaminorChannel Partner/ Reseller/ Distributor · 1 January 1995Distribution agreement signed in 1995 for Hyvisc, a hyaluronic acid equine osteoarthritis product. This partnership has continued for nearly three decades, representing one of Anika's longest-standing distribution relationships.
• DPS (Distribution Process Services)minorChannel Partner/ Reseller/ DistributorUS sales representatives for Anika products through DPS logo displayed on contact page. DPS serves as exclusive distribution partner for certain Anika products in specific US regions. Note: US sales representatives do not represent Orthovisc or Monovisc in the US, which are handled by J&J MedTech.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Bioventus: Bioventus is a direct competitor in HA-based osteoarthritis pain management (e.g., Durolane/Single intra-articular injection HA products) and active in orthopedic regenerative solutions, overlapping closely with Anika's viscosupplement and bone repair portfolios.
• Seikagaku Corporation: Japanese specialty company focused on hyaluronic acid-based products for osteoarthritis and joint disorders, including viscosupplements marketed internationally. Directly comparable to Anika on core HA technology and OA Pain Management focus.
• Fidia Farmaceutici: Italian specialty pharmaceutical company and original developer of Hyalofast technology, now marketing HA-based regenerative and viscosupplement products in Europe. Closely comparable to Anika's HA platform and European commercial footprint.

Broad incumbents

• Zimmer Biomet: Zimmer Biomet is one of the largest orthopedic device companies globally, with sports medicine and joint preservation products that overlap with Anika's regenerative solutions and OA Pain Management categories.
• Stryker: Stryker is a global orthopedic medical device major with broad sports medicine and orthopedic surgery portfolios. While not focused exclusively on HA, it competes with Anika in regenerative orthopedic implants and surgical sports medicine.
• Smith & Nephew: Smith & Nephew is a global orthopedic and sports medicine incumbent with regenerative and cartilage repair offerings, competing with Anika in cartilage, tendon, and bone repair markets worldwide.
• Sanofi (Euflexxa franchise): Sanofi markets Euflexxa, a HA viscosupplement directly competing with Monovisc and Orthovisc in the US. As a global pharmaceutical major, Sanofi has broader distribution and payer reach, making it a key large-player competitor in OA Pain Management.

Emerging players

• LifeNet Health: LifeNet Health provides allograft and regenerative orthopedic products, including cartilage and bone repair solutions, positioning it as a partial competitor to Anika's Hyalofast, Tactoset, and Integrity regenerative implant lines.
• Medacta: Medacta is an orthopedic device company active in joint preservation and sports medicine (and acquired Parcus Medical from Anika in 2025). Comparable as a mid-sized orthopedic player with overlapping sports medicine and joint preservation offerings.
• Vericel: Vericel markets MACI, an autologous chondrocyte implant for cartilage repair, directly competing with Anika's Hyalofast in the cartilage regeneration segment. Comparable as a US-focused specialty orthopedic regenerative company.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/anikathera
• YouTubeyoutube.com/c/anikathera
• Facebookfacebook.com/AnikaThera
• LinkedInlinkedin.com/company/anika-therapeutics-inc
• Instagraminstagram.com/anikathera

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Anika