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Sodium Hyaluronate-based Products Industry Overview
The global sodium hyaluronate-based products market size is expected to reach USD 15.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.5% from 2021 to 2028. The market growth is attributed to factors such as the increasing geriatric population, a high prevalence of osteoarthritis and cataracts, technological advancements, rising awareness, and a growing number of non-invasive aesthetic procedures globally.
Sodium Hyaluronate-based Products Market Segmentation
Grand View Research has segmented the global sodium hyaluronate based products market on the basis of type, application, and region:
Based on the Type Insights, the market is segmented into Topical, Injectable, Others.
- The injectable segment accounted for the largest revenue share of over 90.0% in 2020. The major products such as dermal fillers, visco supplement injections for arthritis, and ophthalmic viscosurgical devices are available in injectable form.
- Sodium hyaluronate (NaHA) based injections are widely used in the treatment of knee pain caused due to osteoarthritis and are often administered when other medications used for OA treatment have not been effective. This is one of the major factors driving this segment.
- Topical sodium hyaluronate medications are used for various medical applications such as treatment of dry eyes, skin ulcers like diabetic foot ulcers or bedsores, burn wounds, cuts, abrasions, and surgical incisions, and providing relief from gynecological problems.
- As per a study published in the U.S. National Library of Medicine, the global prevalence of dry eye diseases ranges from 5% to 35% and is much influenced by lifestyle, climatic conditions, and geographical locations.
Based on the Application Insights, the market is segmented into Pharmaceuticals, Cosmetics.
- The pharmaceuticals segment accounted for the largest share of more than 60.0% in 2020. The pharmaceutical segment is sub-segmented into orthopedic, ophthalmic, urology, and others. The increasing prevalence of arthritis and cataract is a major factor driving this segment. Sodium hyaluronate-based injections are often used in cataract and refractive surgeries.
- As per the Lancet Global Health, cataracts and uncorrected refractive error were the leading causes of blindness, with 17.8 million and 3.7 million cases globally in 2020, respectively.
- The cosmetics segment includes dermal fillers that are used for the treatment of wrinkles, acne, and scars and augmentation of the lip, cheek, and chin. The increasing demand for anti-aging treatments and rising awareness regarding them are expected to drive the segment.
- These fillers volumize, hydrate, stimulate new collagen, and help in softening fine lines. Additionally, sodium hyaluronate has a greater hydrating effect compared to hyaluronic acid due to the lower molecular weight, which enables it to improve hydration from the underlying skin layers, by penetrating the epidermis or top layer of the skin.
Sodium Hyaluronate-based Products Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
The formulation differentiates itself from Hyalgan, an earlier approved injection for treating the same condition, by consisting of only 3 weekly injections as compared to 5 injections of Hyalgan.
Some prominent players in the global sodium hyaluronate-based products market include
- Allergan, Inc.(a part of AbbVie, Inc.)
- Galderma S.A.
- Bohus BioTech AB
- LG Chem Ltd.
- Syner-Med (Pharmaceutical Products) Ltd.
- Anika Therpeutics Inc.
- Cadila Pharmaceuticals Ltd.
- Ferring Pharmaceuticals B.V.
- Fidia Farmaceutici S.p.A.
Order a free sample PDF of the Sodium Hyaluronate-based Products Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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