Huons said that it has launched “Hi Hyal Once,” an osteoarthritis treatment, from the start of this month.

The treatment is a once-a-month osteoarthritis treatment jointly developed by Humedix and Shin Poong Pharm. The two companies completed phase 3 clinical trials in April last year, proving that the drug’s efficacy continues for about six months with only one administration.

The company expects that the new drug will significantly increase the convenience of patients as it will free them from having to go to the hospital several times a week.

Huons also plans to knock on the global osteoarthritis drug market aggressively based on its know-how and experience in overseas market entry and will expand its target market mainly in Southeast Asia and South American countries such as Vietnam and Mexico. The company also plans to hold detailed discussions with leading pharmaceutical companies in the U.S., Europe, and the Middle East.

“Osteoarthritis is a common condition that affects half of the people aged 65 years,” Huons CEO Um Key-an said. “Hi Hyal Once, which has been confirmed to last for six months with a single dose, will be a treatment that will broaden the options for both osteoarthritis patients and medical workers.”

According to the Health Insurance Review and Assessment Service, the osteoarthritis treatment market has steadily risen to 1.2 trillion won ($1 billion) in 2016. The number of patients with osteoarthritis in Korea is also steeply increasing by more than 10 percent annually.

The health agency estimates that there are about five million osteoarthritis patients in Korea.