TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, while the emerging markets for hyaluronic acid (HA) viscosupplementation will show the strongest growth, the large United States market will also grow strongly, averaging 11 percent per year through 2016. As a result, the United States market will make up a larger percentage of the total global market in 2016 than it did in 2010, demonstrating that, while emerging markets are a significant source of future growth, developed markets will continue to dominate for the near future.
Premium-priced single-injection products will continue to drive market growth worldwide due to their greater convenience. The US will see the continued success of Genzyme Biosurgery’s (now acquired by Sanofi) Synvisc-One and the introduction of other 1-injection products, such as Anika Therapeutics’ MONOVISC and Seikagaku’s Gel-200. Additionally, TRB Chemedica’s Ostenil Plus, MONOVISC and Synvisc-One have received approval in Europe in recent years and Anika Therapeutics is anticipated to launch MONOVISC in Taiwan in 2012, with Genzyme Biosurgery launching Synvisc-One in South Korea in 2015.
In the US, manufacturers and distributors of HA viscosupplementation products will continue to invest heavily in direct-to-consumer advertising and will increase their share of osteoarthritis treatments at the expense of alternative treatments and pharmaceuticals. As a result, the US market’s share of global total market value will increase from just under 40 percent in 2010 to 47 percent by 2016. Europe’s share, strongly limited by economic issues and reimbursement cutbacks, will decline slightly, as will that for the Asia Pacific and emerging market region. This is due largely to low, single-digit market growth in Japan, which makes up 80 percent of this region’s revenues.
“Emerging markets, such as Brazil, Mainland China and India are growing quickly,” said Orthopedics Manager Deanna Vankessel. “But it’s important to remember that these countries make up less than 13 percent of the region’s revenues. Nevertheless, strong growth in these countries will aid in the region’s growth and these three countries will grow to make up over 20 percent of the region’s revenues by 2016.”
Millennium Research Group’s Global Markets for Hyaluronic Acid Viscosupplementation 2012 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for HA viscosupplementation in the United States, Europe (France, Germany, Italy, Spain, and the United Kingdom), and the Asia Pacific and emerging markets (Australia, Brazil, China [Mainland China and Hong Kong], India, Japan, South Korea and Taiwan).
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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