Global Sodium Hyaluronate Injection Market: Introduction
Sodium hyaluronate is a high-molecular-mass, polysaccharide present in the extracellular matrix of connective tissues. Sodium hyaluronate, and other viscoelastic substances including methylcellulose, chondroitin sulfate, polyacrylamide, and collagen, have been used in intraocular surgery since the 1970s. The advent of sodium hyaluronate with different rheologic properties has promoted the development of techniques in cataract surgery that decrease surgical complications and make challenging cases easier.
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Key Drivers of Global Sodium Hyaluronate Injection Market
High use of viscoelastic substance in ophthalmic surgery
Among viscoelastic substances, sodium hyaluronate has become highly popular for intraocular surgeries since the introduction of Healon in 1979. According to Clinical Ophthalmology Journal, the incidence of flat anterior chamber (FAC), a complication associated with overfiltration after a trabeculectomy with mitomycin C, is reported to be 13% to 24%. The main purpose for using sodium hyaluronate in cataract surgery is to maintain a stable anterior chamber depth and protect the corneal endothelial cells from damage during the entire surgical procedure. These factors drive the market.
Increase in prevalence of plastic surgery
According to the American Society of Plastic Surgeons (ASPS), almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the U.S. in 2018. Cosmetic surgery focuses on body enhancement, while plastic surgery reconstructs body parts that have sustained damage due to disease, burns, or trauma. According to The American Board of Plastic Surgery, US$ 16.7 billion was spent on cosmetic procedures in the U.S. with the most cosmetic procedures performed in Mountain/Pacific in the U.S. around 5.3 million (29%) of procedures. Cosmetic procedures performed in an office setting are up 4%.
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North America to Account for Major Share of Global Sodium Hyaluronate Injection Market
• North America is projected to account for a major share of the global sodium hyaluronate injection market during the forecast period. The market in the region is anticipated to expand at a rapid pace in the next few years due to an increase in research & development and various government initiatives. Europe is estimated to be the second-largest market during the forecast period.
• The sodium hyaluronate injection market in Asia Pacific is likely to expand at a high CAGR during the forecast period. This can be attributed to prominent player’s collaboration with other regional operators for expansion into the untapped market, and joint ventures with the organizations in emerging countries to gain the strong foothold in the region.
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Key Players Operating in Global Sodium Hyaluronate Injection Market
The global sodium hyaluronate injection market is highly consolidated owing to the presence of a numerous key players. Leading players operating in the global sodium hyaluronate injection market include:
• Hyalose, LLC
• Shiseido Co., Ltd.
• FMC Corporation
• Contipro a.s.
• Fidia Farmaceutici s.p.a, Easter Group
• TS-Biotech Co., Ltd
• Anika Therapeutics
• S&V Technologies GmbH
• VSY Biotechnology BV
• Bloomage Bio-Technology Corporation