An Incisive, In-depth Analysis on the Russia Viscosupplementation Market
This study offers a comprehensive, 360 degree analysis on the Russia Viscosupplementation market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Russia Viscosupplementation market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Single injection viscosupplementation segment is anticipated to record the highest CAGR during the projected period
The single injection viscosupplementation segment in the Russia viscosupplementation market is expected to expand at the fastest and highest CAGR of 6.0% over the forecast period, due to relatively less competition across the product type segments. The three injection viscosupplementation product type segment was estimated to account for more than 69.4% share of the Russia viscosupplementation market in 2016, which is projected to increase to over 68.8% by the end of 2026. In Russia, three injection viscosupplementation is likely to be the highly preferred treatment of choice for osteoarthritis over the projected period and this is the precise reason that by the end of 2026, the three injection viscosupplementation product type segment is estimated to reach a market valuation in excess of US$ 23.5Mn. The three injection viscosupplementation product type segment is projected to be the most attractive segment in the Russia viscosupplementation market.
Rising obesity and ageing population expected to drive the growth of the three injection viscosupplementation segment in Russia
Viscosupplemets are hyaluronic acid doses that are injected in the knee joints for the treatment of osteoarthritis (OA). The rising obesity rate, coupled with a rapidly increasing geriatric population in Russia is giving rise to an increasing number of cases of knee osteoarthritis. This factor is driving the growth of the single injection viscosupplementation segment in the Russia viscosupplementation market. Increasing ageing population is another factor that is creating robust development in the Russia viscosupplementation market. Prevalence of osteoarthritis in the adult population in Russia is approximately 13%. Knee osteoarthritis is causing disability in the ageing population in Russia and this is the precise reason for the rise in demand for three injection viscosupplementation. Three injection viscosupplementation is a cost-effective procedure that reduces the cost burden of knee osteoarthritis patients. Several drugs for three injection viscosupplementation are in the pipeline and this is further creating a positive impact on this segment. Better patient compliance and reduction in the number of hospital visits is expected to drive the market growth of the three injection viscosupplementation segment over the forecast period.
Non-consideration of reimbursement by insurance companies in Russia is likely to be a hindrance to the growth in demand for three injection viscosupplementation
The cost of single injection viscosupplementation is lesser than three injection viscosupplementation. Besides, these three injections are available through online portals or can be procured directly from the pharmacists as well. However, several insurance companies and authorities do not consider these in the reimbursement list of products. Physicians have noted that the formulation of updated treatment guidelines by Osteoarthritis Research Society International (OARSI) for knee osteoarthritis has been restricting the overall outlook on viscosupplementation prescription. This is expected to lead to increased insurance denials for three injection viscosupplementation. Three injection viscosupplementation is a lengthy procedure wherein patients suffering from osteoarthritis need to take three injections within the span of a certain time period. Owing to these restraints, single injections are expected to gain more popularity in Russia in the years to come.
Market share of companies operating in the Russia viscosupplementation market
The Russia viscosupplementation market is highly fragmented. Key players such as Hyaltech, Croma-Pharma GmbH and TRB Chemedica contribute around 65% of the market share. Hyaltech alone grabs more than 40% market share.
An expansion of production capacity by establishing new subsidiaries is anticipated to contribute immensely towards growing revenues of viscosupplementation products in Russia – this is the essence of Future Market Insights’ new publication titled “ Viscosupplementation Market: Russia Industry Analysis & Opportunity Assessment, 2016-2026.” This 10-year comprehensive report focusses on Russia’s viscosupplementation market that is significantly transforming its enterprises and businesses. While researching this market, our expert analysts have found that Russia is likely to hold a majority of the market share in the Eastern Europe viscosupplementation market owing to the rapid increase in knee osteoarthritis patients. We have given extensive focus on increasing domestic supply of viscosupplementation products that are creating massive growth opportunities for several manufacturers, thus driving revenues and meeting patients’ expectations.
The report highlights that strengthening of the product pipeline with new combination products along with a focus on the supply chain are the key focus areas for existing players in the Russia viscosupplementation market. While identifying the differentiating strategies of this market, we have come to the conclusion that manufacturers are more focussed on developing simple and convenient single use viscosupplementation products such as single injections and mini-injections, thus resulting in increased product offerings.
Clinical trials are the key research tools deployed in the Russia viscosupplementation market report
What makes this report exclusive than any other report is our special coverage of regulatory guidelines in the Russia viscosupplementation market. Our analysts have focussed on clinical trials that are key research tools for enhancing medical knowledge and patient care. We have considered the pricing and reimbursement scenario and have come to the conclusion that product pricing is determined by negotiations between hospitals and the concerned medical device companies. This inclusive report includes a market overview with a comprehensive market forecast and information on key drivers, restraints, trends and opportunities. Impact analyses of key growth drivers and restraints based on the weighted average model have been included in the Russia viscosupplementation market report after an in-depth analysis to better equip readers with meaningful insights on ongoing developments in the Russia viscosupplementation market.
A competitive landscape of the Russia viscosupplementation market has been provided in the last section of the report to showcase a dashboard view based on categories of providers in the value chain, their product portfolio and key differentiators. Key categories of providers covered in the report are manufacturers of hyaluronic acid injections. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the Russia viscosupplementation value chain and potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and successes in the Russia viscosupplementation market. Detailed profiles of some of the providers are also included within the scope of the report to evaluate their long-term and short-term strategies, key offerings, SWOT analysis and recent developments in the Russia viscosupplementation market.
The market is divided into two segments based on product type and end use:
By Product Type
By End Use
Our unique research methodology identifies potential resources from a sales and delivery perspective in the Russia viscosupplementation market
The report highlights the performance of the viscosupplementation market in Russia and provides a detailed outlook for every market segment for 2016–2026 in terms of market size, Y-o-Y growth rates, absolute $ opportunity and BPS analysis. We have considered 2015 as the base year and provided data for the next 10 years. In addition, it is imperative to note that given the ever-fluctuating nature of the Russian economy, we have not only conducted the market forecast in terms of CAGR but have also provided an analysis of the Russia viscosupplementation market based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market and to identify the right opportunities across the Russia viscosupplementation market. Further, market segments in terms of product type and end user have been analysed in terms of Basis Point Share (BPS) to understand the segmental contribution to market growth. This detailed level of information is important for identifying various key trends emerging in the Russia viscosupplementation market. Another useful feature of this report is the analysis of key segments in terms of absolute dollar opportunity, critical in assessing the level of opportunity that market players can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the Russia viscosupplementation market.
Russia Viscosupplementation Market Reports - Table of Contents
1. Executive Summary
8. Assumptions and Acronyms Used
9. Research Methodology