$1 billion market: HA (Hyaluronic Acid ) viscosupplementation

Asia Pacific Orthopedic Biomaterials Market to Grow to $1.3 Billion by 2016  Chinese Market to See Particularly Strong Growth in Hyaluronic Acid Viscosupplementation Treatments, According to Millennium Research Group  TORONTO, Feb 13, 2012 (BUSINESS WIRE) -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Asia Pacific orthopedic biomaterials market, comprising hyaluronic acid (HA) viscosupplementation and bone graft substitutes (BGS), will grow to nearly $1.3 billion by 2016. This growth will be fueled by the rapidly expanding elderly population, a demographic with a high incidence of orthopedic maladies. HA viscosupplementation is the market's largest segment and will total more than $1 billion by 2016. There will be significant variations in this segment's development between different countries in the region. Growth in Japan, Taiwan and Australia will be driven largely by the introduction of 1- and 3-injection treatments, which carry a significantly higher per-treatment cost but are more convenient for patients than 5-injection treatments. Overall, the number of 1- and 3-injection treatments in the Asia Pacific will grow at a rate of nearly 36 percent per year from 2011 through 2016. The HA viscosupplementation market in China will grow particularly robustly, averaging 13 percent per year, driven by a large patient pool finally gaining access to advanced medical treatment as healthcare reform reaches China's rural regions. "Domestic competitors accounted for the majority of the Chinese HA viscosupplementation market share in 2011," said MRG Analyst Brady Baker. "Products with the strongest brand recognition in China are 5-injection treatments, such as Shandong Bausch & Lomb Freda Pharmaceutical's Sofast, and Seikagaku's SUPARTZ. As a result, physicians and patients still regard this form of treatment as the gold-standard. Although 3-injection products such as Genzyme Biosurgery's Synvisc have been on the Chinese market since 1997, they have seen little traction. This situation will persist through 2016." However, significant cuts to reimbursement in the bone graft substitute segment will represent an obstacle to revenue growth in this segment across most of the Asia Pacific region. The increasing adoption of premium-priced growth factors will help support revenues. BioMimetic Therapeutics will launch its Augment Bone Graft product in Australia in 2012 and Korea Bone Bank expects to be on the market with its Rafugen BMP2 DBM Gel in South Korea in 2014, the latter marking only the third bone morphogenetic protein product available worldwide. Millennium Research Group's Asia Pacific Markets for Orthopedic Biomaterials 2012 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for HA viscosupplementation in Australia, China (Mainland China and Hong Kong), Japan, South Korea and Taiwan, and BGS in Australia, Japan and South Korea.