The “Resurgence” of Homemade Joint Cavity Viscoelastic Supplement

Over the past years, import substitution remains the prevailing trend, be it the pharmaceutical field or medical device markets.

 

Import substitution can not only reshape the previous market landscape in which the high-priced imported products held a monopolistic position, further improve the patient willingness to seek medical attention and drive the growth of market sizes, but more importantly help domestic manufacturers having proprietary intellectual property rights seize the opportunities, enhance core competitiveness and expand market shares.
 

 
 

Take the domestic viscosupplementationproducts market as an example, on the one hand, this market is a mature market worth nearly 2 billion RMB and still growing steadily; on the other hand, it is also a market segment where the trends of import substitution are salient. Currently, domestic manufacturers hold over 80% of the aforesaid market in total, and there is only one foreign producer from Japan among the major market players.

 

Back in 2001, when the domestic viscosupplementationproducts market consisted only of “Hyalgan” manufactured by the Italian company named BiomedicaFoscama, a situation that almost could be termed as monopoly. In the years later, “Hyalgan” has exited the Chinese market due to formidably high prices and excessive patient burden along with the rise of homemade brands, and now is already unavailable at home.

 

Looking back upon the market price changes of a Japanese brand still on shelf in China, its selling price has declined from 210 Yuan in 2007 to 180 Yuan, and continuing. Its market share has also been continuously shrinking, from the highest point of 23.67% in 2010 to 15.16%. Meanwhile, this brand is now the only imported brand among the top four holders of market share, which have substantially monopolized 100% domestic market.

 

Following the shrinking market shares of imported brands is the rising market shares of domestic manufacturers. In 2007, with the advantages accumulated on sodium hyaluronate, Haohai Biological Technology rapidly entered the domestic joint cavity viscoelastic supplement market. Thereafter, the company even developed a patented product of medical chitsan itself, thus further enhancing its core market competitiveness through a product mix of “drug-device combination”, with a growing market share.

 

As an innovation-driven tech company engaged in development, production and sale of medical devices and drugs using biomedical material technology and gene engineering technology, Haohai Biological Technology has been the champion of domestic viscosupplementationproducts market in terms of market share for five years in a row by seizing the opportunity of import substitution in the orthopedic field and entering the fast track.
 

 
 

In the future, Haohai Biological Technology will also continue seizing the opportunity of import substitution in the ophthalmological, medical aesthetics, surgical and other fields to further enhance its competitiveness and benefit consumers.

 

Last, a market share change chart of Haohaijoint cavity viscoelastic supplement products is presented to you for more intuitive browsing.