Global Market for Hyaluronic Acid Viscosupplementation to Reach $2.8 Billion by 2022 The Shift Toward Single-Injection Treatments Will Continue Globally, Driving Revenues and Competitor Interest, According to Findings from Decision Resources Group
BURLINGTON, Mass., Jan. 28, 2014 /PRNewswire/ -- According to Decision Resources Group, the market for hyaluronic acid (HA) viscosupplementation treatments will expand globally through 2022. Market growth will be highest in the United States, where the shift toward single-injection treatments is most dramatic.
Single-injection products offer increased convenience for patients compared to 3- or 5-injection treatments, and these treatments carry a higher per-injection cost than the longer treatment regimens. Currently, there are very few competitors in this space; Sanofi holds the largest single-injection market share in the U.S. market, although the 2013 entrance of Zimmer's Gel-One product is providing strong competition. Sales of Gel-One will be driven by Zimmer's established relationships with orthopedic surgeons and market-leading presence in the large-joint reconstruction space.
"Sanofi's increasing focus on its Synvisc-One product in the US will result in decreased attention to the company's 3-injection Synvisc," said Decision Resources Group Lead Analyst Deanna Edmunds. "This will create opportunities for other competitors to gain share in the 3- and 5-injection markets if they can channel sufficient resources into marketing initiatives that generate patient and physician awareness. Companies can also support their revenues in the U.S. by pursuing approval from the Food and Drug Administration for joint indications other than the knee."
Europe will continue to represent the smallest proportion of HA viscosupplementation revenues through 2022. Over the next few years, market growth will continue to be impeded by the ongoing economic crisis in Europe, which has caused reimbursement rates to decline and has restricted personal spending on health care. Nonetheless, following trends in the U.S., Europe will see growing adoption of premium-priced single-injection treatments. In particular, "mini" single-injection products will become increasingly popular because they can be used on smaller joints, such as fingers and ankles, which only require a small volume of product.
Despite the growing popularity of single injections in the U.S. and Europe, 5-injection treatments will remain the preferred choice in the Asia Pacific region. This will have a significant impact on the proportion of 5-injection treatments in the global market as a whole, given that Japan accounts for the highest overall volume of HA viscosupplementation injections worldwide.
Decision Resources Group's Global Markets for Hyaluronic Acid Viscosupplementation 2014 report includes unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for 1-injection, 3-injection and 5-injection HA viscosupplementation products in the United States, France, Germany, Italy, Spain, the United Kingdom, Australia, Brazil, Mainland China, Hong Kong, India, Japan, South Korea and Taiwan.
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SOURCE Decision Resources