Global Sodium Hyaluronate-based Products Market Size (2024 - 2029)

The market size for sodium hyaluronate-based products is anticipated to experience growth due to several key factors. The increasing geriatric population, which is more susceptible to conditions like osteoarthritis and cataracts, is driving demand. Additionally, there is a rising consumer awareness and a growing preference for minimally invasive and non-invasive cosmetic procedures, further propelling the market. Despite the temporary setbacks caused by the COVID-19 pandemic, such as reduced surgical procedures and supply chain disruptions, the market is expected to expand, supported by product launches, regulatory approvals, and strategic mergers and acquisitions. However, potential adverse effects associated with these products may pose challenges to market growth.

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Market Size of Global Sodium Hyaluronate-based Products Industry

Sodium Hyaluronate-based Products Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.90 %
Fastest Growing Market North America
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Global Sodium Hyaluronate-based Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

Sodium Hyaluronate-based Products Market Analysis

The Sodium Hyaluronate-based Products Market is expected to grow at the registered CAGR of 7.9% during the forecast period (2022-2027).

The immediate shutdown of activities to prevent the spread of the virus has resulted in a shortage of pharmaceuticals and medical supplies. As a result of respective governments' recommendations to postpone or cancel elective procedures, hospitals and surgery centers have reduced the number of surgical procedures performed. This trend has resulted in a decrease in cosmetic procedures, which has had a negative impact on the market's growth. Due to decreased surgical procedures and supply chain issues, global demand for sodium hyaluronate-based items has decreased. For instance, according to the study published in the British Journal of Surgery, in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide will be canceled or postponed 2020. In addition, rising cases of COVID-19 in the countries are expected to have a short-term impact on surgical rates of cosmetic procedures.

The increase in the geriatric population, a demographic prone to diseases like osteoarthritis and cataracts, is responsible for the market's growth. Growing consumer awareness and an increase in the number of dermal filler procedures are expected to propel the market forward.

Antiaging cosmetics and aesthetic treatments, which help people reverse their aging signs, are becoming more popular, owing to a global increase in the aging population. According to the World Health Organization Facts of 2021, the proportion of the global population aged 60 and up will nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries. The population is aging at a much faster rate than in the past. Every country faces significant challenges in ensuring that its health and social systems are prepared to take advantage of this demographic shift.

The growing demand for minimally invasive and non-invasive procedures and awareness of cosmetic surgery boost the demand for sodium hyaluronate-based products. According to the American Society of Plastic Surgeons, in 2020, 13,281,235 cosmetic minimally-invasive procedures were performed in the United States, out of which 4,401,536 were botulinum toxin procedures. It was the number one non-surgical procedure found in 2020. However, ASPS anticipates a decrease in the total number of cosmetic procedures in 2020 due to the COVID-19 pandemic.

Furthermore, According to the article published in the eClinical Medicine in December 2020, titled "Global, regional prevalence, incidence and risk factors of knee osteoarthritis in population-based studies," individuals aged 15 and older had a global incidence of 16.0%, while those aged 40 and above had a global prevalence of 22.9%. In 2020, roughly 654 million people (40 years and older) will have knee OA. Thus, the increased prevalence of osteoarthritis globally will boost the market over the forecast period.

In addition, product launches, regulatory approval, and merger and acquisition are expected to boost the market over the forecast period. For instance, in May 2020, Galderma received the United States Food and Drug Administration (FDA) approval for Restylane Kysse for lip augmentation and the correction of upper perioral rhytids (wrinkles around upper lips) in adults over the age of 21. Restylane Kysse is the first hyaluronic acid (HA) filler specifically indicated for the lips.

Thus, all factors mentioned above are expected to boost the market over the forecast period. However, the associated adverse effects of sodium hyaluronate-based products may restrain the market over the forecast period.

Sodium Hyaluronate-based Products Industry Segmentation

As per the report's scope, Sodium hyaluronate (NaHA) is more soluble than hyaluronic acid, with smaller molecules and greater skin penetration. It is increasingly being used in dermal fillers that are injected into areas of the skin to fill out wrinkles and help restore a more youthful appearance. The Sodium Hyaluronate-based Products Market is Segmented by Type (Topical, Injectable, Others), Application (Pharmaceuticals, Cosmetics), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (in USD million) for the above segments.

By Type
Topical
Injectable
Others
By Application
Pharmaceuticals
Opthalmology
Orthopedic
Urology
Others
Cosmetics
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Sodium Hyaluronate-based Products Market Size Summary

The sodium hyaluronate-based products market is poised for significant growth, driven by increasing demand for minimally invasive and non-invasive procedures, particularly in the cosmetic and medical sectors. The market is experiencing a resurgence as the global population ages, with a notable rise in the geriatric demographic prone to conditions like osteoarthritis and cataracts. This demographic shift is fueling the demand for anti-aging cosmetics and aesthetic treatments, which are gaining popularity worldwide. The market is also benefiting from the growing awareness and acceptance of dermal filler procedures, which are becoming more mainstream. Despite the temporary setbacks caused by the COVID-19 pandemic, such as the postponement of elective surgeries and supply chain disruptions, the market is expected to recover and expand, supported by product innovations and regulatory approvals.

The injectable segment, including dermal fillers and visco-supplement injections, is anticipated to generate substantial revenue, particularly due to the rising prevalence of osteoarthritis. Key players in the market are actively launching new products and forming strategic partnerships to enhance their offerings and capture a larger market share. The United States, with its high healthcare expenditure and a significant number of dermal filler procedures, is a major regional market driving growth. However, the market remains moderately fragmented and competitive, with companies like Allergan, Galderma, and Anika Therapeutics leading the charge. The introduction of new products, such as those targeting joint pain relief and dry eye conditions, further underscores the dynamic nature of the market, which is expected to continue its upward trajectory over the forecast period.

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Global Sodium Hyaluronate-based Products Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Geriatric Population and Prevalence of Osteoarthritis & Eye Diseases

      2. 1.2.2 Growing Demand for Minimally Invasive Cosmetic Procedures

    3. 1.3 Market Restraints

      1. 1.3.1 Associated Adverse Effects of Sodium Hyaluronate-Based Products

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Type

      1. 2.1.1 Topical

      2. 2.1.2 Injectable

      3. 2.1.3 Others

    2. 2.2 By Application

      1. 2.2.1 Pharmaceuticals

        1. 2.2.1.1 Opthalmology

        2. 2.2.1.2 Orthopedic

        3. 2.2.1.3 Urology

        4. 2.2.1.4 Others

      2. 2.2.2 Cosmetics

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle-East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle-East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Global Sodium Hyaluronate-based Products Market Size FAQs

The Global Sodium Hyaluronate-based Products Market is projected to register a CAGR of 7.90% during the forecast period (2024-2029)

Galderma S.A., LG Chem Ltd., Syner-Med (Pharmaceutical Products) Ltd., Anika Therpeutics Inc. and Zydus Cadila Pharmaceuticals Ltd. are the major companies operating in the Global Sodium Hyaluronate-based Products Market.

Global Sodium Hyaluronate-based Products Report Snapshots

Sodium Hyaluronate-based Products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)