Rising Use of Biomaterials in Regenerative Medicine Drives the Collagen and HA-Based Biomaterials Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) January 30, 2015 -- Follow us on LinkedIn – Biomaterials are of vital importance in the medical sector. They are of enormous use and value in the development of synthetic organs and implants. The medical challenge raised by transplant rejection is driving interest in the development of biomaterials that help prevent biological rejection of transplanted organs. Other healthcare applications of biomaterials include use in medical devices, dental restoratives, drug delivery and cosmeceuticals. Major factors spurring growth in the medical sector include use of collagen in wound dressings and as dermal fillers in aesthetic procedures, and high prevalence of osteoarthritis. In the cosmetics industry, growth is driven by aging population, and increased consumer spending on cosmeceuticals.
The market, in the coming years, is expected to benefit from the innovative development of new product solutions. Viscosupplements dominates the HA-based biomaterials market, supported by the development of novel and convenient single injection products. Viscosupplement products are used in the treatment of osteoarthritis of the knee, hip and shoulder. Growing patient demand for effective treatment options with lower side-effects is encouraging adoption of HA-based products over other traditional pain relieving methods and replacement surgeries. Use of HA-based biomaterials in facial aesthetic dermal fillers is forecast to grow rapidly in developing markets of China, India, and Brazil. Demand for collagen-based dermal fillers, in comparison, is slowing down as a result of intense competition from substitutes, including HA-based biomaterials, and Botox which are perceived to be safer and less allergic. Developments in tissue engineering in wound care are creating opportunities for biological dressing. Demand, against this backdrop, is expected to grow strongly for collagen matrix dressings. In the United States, favorable reimbursement policies are encouraging adoption of advanced wound care therapies.
Despite the numerous opportunities for growth, the market continues to face challenges such as inadequate reimbursement for biomaterials. In the United States, the USFDA categorizes viscosupplements as a device, not a drug. Medicare reimbursements are available in the country only for hyaluronic acid-based products for the treatment of knee osteoarthritis, excluding off-label uses for the treatment of shoulder and hip osteoarthritis. Other challenges faced by the biomaterials market include high development costs, lengthy approval procedures, and pricing pressures. In the future, although the role of biomaterials will expand significantly in medicine and healthcare, non-medical applications will nevertheless hold attractive opportunities for growth.
As stated by the new market research report on Collagen and HA-based Biomaterials, the United States represents the largest market worldwide, followed by Europe and Japan. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 9.1% over the analysis period. Growth in the region is led by developing healthcare infrastructure, higher consumer disposable income, and increased adoption of collagen and HA-based products.
Major players covered in the report include Genzyme, Seikagaku, Allergan, Alcon Laboratories Inc., Anika Therapeutics, Collagen Solutions Plc., Galderma, Genzyme, Fidia, Bausch & Lomb, Lifecore Biomedical, Teijin Pharma Limited, among others.
The research report titled “Collagen and HA-based Biomaterials: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Canada, Japan, Europe, and Rest of World. Key segments analyzed include Collagen Based Biomaterials (Urinary Incontinence Products, Corneal Shields, Facial Aesthetics Dermal Fillers, and Wound Dressings) and Hyaluronic Acid-Based Biomaterials (Viscosupplements, Viscoelastics, and Facial Aesthetics Dermal Fillers). The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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