Sodium Hyaluronate Market Report Overview
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The global sodium hyaluronate market size was USD 431.4 million in 2022 and market is projected to touch USD 2095.7 million by 2031, exhibiting a CAGR of 19.2% during the forecast period.
Sodium hyaluronate is the sodium salt of hyaluronic corrosive. It is a kind of glycosaminoglycan, that is normally tracked down in connective tissues of human body. The polyanionic type of sodium hyaluronate is alluded as hyaluronan, which is a visco-flexible polymer, tracked down in eyes and liquid present in the joints. Its capabilities as a tissue oil in controlling the trades that occur between nearby tissues.
Expanding ophthalmic circumstances in geriatric populace is supporting the market development. Sodium hyaluronate is utilized as a guide in ophthalmic medical procedures like waterfall extraction, corneal transfer, intraocular focal point implantation, retina connection medical procedure and others. Moreover, additionally utilized in skin infusions are utilized in plastic medical procedures as dermal filler. The utilization of sodium hyaluronate in drugs as nano transporter is supposed to drive the market development. Be that as it may, it can cause a few secondary effects like post-employable irritation and corneal edema as most would consider to be normal to hamper the market development.
COVID-19 Impact: Quick Closure of Exercises to Forestall the Spread of the Infection Hampered the Market Growth
The quick closure of exercises to forestall the spread of the infection has brought about a lack of drugs and clinical supplies. Because of particular legislatures' suggestions to defer or drop elective techniques, clinics and medical procedure habitats have diminished the quantity of surgeries performed. This pattern has brought about a decline in surface level techniques, which adversely affects the market's development. Because of diminished surgeries and production network issues, worldwide interest for sodium hyaluronate-based things has diminished. For example, as per the review distributed in the English Diary of Medical procedure, in May 2020, in light of 12 weeks of pinnacle disturbance to clinic administrations because of Coronavirus, around 28.4 million elective medical procedures overall will be dropped or delayed 2020.
Latest Trends
"Trending Cosmetic Surgeries to Increase the Market Growth"
Its use in skin infusions in plastic medical procedure is another main consideration flooding the interest for sodium hyaluronate infused significantly for diminishing kinks on the face. Starting around 2017, FDA has endorsed 13 hyaluronate arrangements called dermal fillers. These are likewise being utilized a filler of lips or any pieces of the body. The filling impact is brief and goes on for right around a half year or longer in numerous customers.
Sodium Hyaluronate Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Microbial Fermentation, Animal Tissue Extraction. Microbial Fermentation being the leading segment of the market by type analysis.
- By Application Analysis
Based on application, the market can be divided into Cosmetic, Medicine, Food. Cosmetic being the leading segment of the market by application analysis.
Driving Factors
"Restorative Purposes of the Compound to Drive the Market Growth"
The main consideration driving the sodium hyaluronate market is the restorative purposes of the compound. For example, sodium hyaluronate is utilized in intra-articular infusion to treat knee torment in patients experiencing osteoarthritis and have not gotten any help from different medicines. Sodium Hyaluronate is utilized as visco-supplement, managed through series of infusion into the knee, and this assists with greasing up, pad, and diminish torment in the joints. This is significantly the last choice utilized by the customers before the medical procedure. Significant utilization of sodium hyaluronate is as the intraocular viscoelastic infusion. The compound is utilized as a help with ophthalmic medical procedure proceeding as watery and glassy humor. These are utilized in waterfall extraction, intraocular focal point joining, corneal transfer, retina connection medical procedure, therapy of dry eyes, and others.
"Increase in Utilization of Injectable Sodium Hyaluronate to Enhance the Market Development"
During the gauge time frame, the injectable section produced the vast majority of the income. Injectable kinds of well-known items, including dermal fillers, joint inflammation visco-supplement infusions, and ophthalmic visco-careful gadgets, are accessible. Infusions in view of sodium hyaluronate are broadly utilized in treating knee torment brought about by osteoarthritis and are regularly involved when different meds for OA treatment have fizzled. Notwithstanding, the rising commonness of osteoarthritis is supposed to help the portion development over the figure period. For example, as per an exceptional report named, 'The Weight of Osteoarthritis in Canada (2021)' charged by the Joint pain Local area Exploration and Assessment Unit (ACREU), around15% of Canadians matured 20 years or more had osteoarthritis. The report additionally expressed that multiple million Canadians, or around 1 in each seven grown-ups, have osteoarthritis. The high weight of such problems is supposed to support fragment development.
Restraining Factors
"Alternatives of Sodium Hyaluronate to Impede the Market Growth"
There are a few arising elective treatments for the aggravation the executives of osteoarthritis. A few contending particles like corticosteroids, OTC (over-the-counter) pieces, COX-2 inhibitors and others are being used for different signs covered by hyaluronic corrosive. The arthroscopic medical procedure, joint substitution and osteotomy likewise possess a significant volume in the osteoarthritis therapy. The undifferentiated organism treatment likewise represents a possible rivalry to hyaluronic corrosive items in the space of osteoarthritis. The accessibility of these elective treatments is probably going to hamper the hyaluronic corrosive items deal. For example, Japan has a devoted Research and development for the stem treatment of osteoarthritis for its geriatric patients. The accessibility of these options is supposed to limit development possibilities for the market. Notwithstanding, the fixing has significant secondary effects like an outrageous hack, blue tone or redness on the skin, stodgy nose and fever, enlarging of eyelids, face or even lips, and trouble in gulping, among others.
Sodium Hyaluronate Market Regional Insights
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"High Medical Services in the North American Region to Drive the Market Growth in the Region"
North America had the biggest income share. High medical services use in nations like the US. furthermore, Canada, a significant measure of dermal filler systems done across the district, a developing geriatric populace, specialized advances and improvements, etc. all add to the locale's biggest piece of the pie in the conjecture years. For example, the authority assessments of generally medical care spending in the U.S. are the National Health Expenditure Accounts (NHEA).
Asia Pacific is expected to observe a high CAGR in the worldwide sodium hyaluronate-based items industry. This is expanding as individuals become more mindful of the advantages of hyaluronan applications. In any case, the sodium hyaluronate-based items industry extension is probably going to be helped by an expansion in the quantity of corrective strategies, expanded market interest for clinical the travel industry, and further developed medical services foundation in existing nations like India and China.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Bloomage Biotech (China)
- Shandong Focuschem Biotech (China)
- Fufeng Group (China)
- Shandong Awa Biopharm (China)
- China Eastar Group (China)
- Kewpie (Japan)
- Contipro (India)
- Seikagaku (Japan)
- HTL Biotechnology (France)
- Fidia Farmaceutici (Italy)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 431.4 Million in 2022 |
Market Size Value By |
US$ 2095.7 Million by 2031 |
Growth Rate |
CAGR of 19.2% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the global sodium hyaluronate market expected to touch by 2031?
The global sodium hyaluronate market is expected to touch USD 2095.7 million by 2031.
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What CAGR is the sodium hyaluronate market expected to exhibit during 2031?
The sodium hyaluronate market is expected to exhibit a CAGR of 19.2% over 2031.
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Which are the driving factors of the sodium hyaluronate market?
Restorative purposes of the compound and increase in utilization of injectable sodium hyaluronate are the driving factors of the sodium hyaluronate market.
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Which are the top companies operating in the sodium hyaluronate market?
Bloomage Biotech, Shandong Focuschem Biotech, Fufeng Group, Shandong Awa Biopharm, China Eastar Group are the top companies operating in the sodium hyaluronate market.