Sodium Hyaluronate-based Products Market Technological Advancements, Forecast & Opportunities 2028

Sodium Hyaluronate-based Products Industry 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.

Gather more insights about the market drivers, restrains and growth of the Global Sodium Hyaluronate-based Products 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.

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Key Companies profiled:

Some of the 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.