Sodium Hyaluronate-based Products Market Size, Share & Trends Analysis Report By Type (Injectable, Topical), By Application {Pharmaceuticals (Orthopedic, Ophthalmology, Urology), Cosmetics}, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global sodium hyaluronate-based products market size was valued at USD 8.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. The growth of the market can be attributed to an increase in the geriatric population, a demographic that is prone to diseases such as osteoarthritis and cataracts. Growing awareness and a rising number of dermal filler procedures are likely to further propel the market growth. Due to the COVID-19 pandemic, a slowdown in manufacturing and supply of FMCG products, pharmaceuticals, and medical supplies has been observed due to the immediate shutdown of activities to prevent the spread of the virus. Hospitals and surgery centers have reduced the number of surgical procedures as respective governments have recommended postponing or canceling elective procedures. This has led to a decline in cosmetic procedures, thus negatively impacting the growth of the market.

Estimates published by the Department of Economic and Social Affairs of the United Nations suggest that the global population in the age group 60 years and above is anticipated to increase from 962 million in 2017 to 1.4 billion in 2030. An associated consequence of this will be an increase in the incidence of vision impairment and blindness, obesity, and osteoarthritis. Therefore, the rising global geriatric population is expected to be a high-impact rendering driver for this market.

Moreover, sodium hyaluronate (NaHA) dermal fillers are increasingly being preferred over procedures such as Botox as they help in bringing more natural results, resulting in the patient feeling more comfortable and natural. In addition, dermal filler injections are minimally invasive with minimal downtime. Some of the FDA-approved sodium hyaluronate dermal fillers available in the market are Restylane Defyne, Refyne, and Restylane. Thus, it is anticipated that the need for such products will act as a high-impact rendering driver for sodium hyaluronate products over the forecast period. 

However, there are certain adverse effects associated with the application of sodium hyaluronate, such as swelling of eyelids, pain in the face, pain, redness, and itching or swelling at the injection site. Moreover, patients may report stomach pain, difficulty in swallowing after treatment, shortness of breath, diarrhea, neck or back pain, muscle stiffness, fever and flu symptoms, anxiety, and other symptoms.

Type Insights

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. Key injectable sodium hyaluronate-based products include Euflexxa, Hyalgan, Hyacyst, Protescal, and Restylane Kysse.

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. Conditions such as dry eyes are notably common in the elderly population and with the rise in the geriatric population, both in the developed and the developing countries, the prevalence of dry eye diseases is expected to significantly rise over the forecast period, thereby driving the market for sodium hyaluronate-based products for the treatment of dry eye conditions.

Application Insights

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. Due to the aforementioned factors and the effectiveness of sodium hyaluronate-based products in treating eye conditions, the pharmaceuticals segment is expected to grow over the forecast period.

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. According to the report published by the International Society of Aesthetic Plastic Surgery, around 4.3 million HA-based dermal fillers procedures were performed in 2019. This number is expected to increase during the forecast period, thus driving the cosmetics segment.

Regional Insights

North America accounted for the largest share of over 35.0% in 2020 and is expected to grow at a significant rate during the forecast period. The high healthcare expenditure and comparatively high number of dermal filler procedures performed in the U.S. are major factors driving the regional market. HA-based dermal fillers procedures were ranked second amongst the non-invasive injectable procedures in the U.S.

Asia Pacific accounted for a substantial revenue share in 2020 and is expected to expand at the fastest CAGR of 8.2% during the forecast period. Some of the developed countries in the region also have reimbursement schemes for sodium hyaluronate-based treatments, making it more affordable for the public. The rising geriatric population in this region is one of the major driving factors.

Key Companies & Market Share Insights

Key players are launching new products in the market to strengthen their product portfolios. For instance, in 2019, Fidia Pharma USA received FDA approval for Triluron, a NaHAinjection, for providing relief to patients suffering from osteoarthritic knee pain up to 6 months. 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.

 Sodium Hyaluronate-based Products Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global sodium hyaluronate-based products market report on the basis of type, application, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Topical

  • Injectable

  • Others

• Application Outlook (Revenue, USD Million, 2017 - 2028)

  • Pharmaceuticals

    • Opthalmology

    • Orthopedic

    • Urology

    • Others

  • Cosmetics

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia