Future Market Insights’ study indicates that during the estimated period, the sodium hyaluronate market is expected to grow at a CAGR of 4.00%. Forecasts predict that the market will increase in value from US$ 94.4 million in 2023 to US$ 139.7 million in 2033.
A polysaccharide with linear and repeating structural units is sodium hyaluronate. It is the sodium salt of hyaluronic acid, a glycosaminoglycan that is present in a variety of human connective tissues. It is a hyaluronic acid derivative that functions as a lubricant and shock absorber by increasing the effectiveness of the fluid inside the knee joint.
Global Sodium Hyaluronate Market: Drivers and Restraints
The major factor driving the sodium hyaluronate market is the medicinal uses of the compound. For instance, sodium hyaluronate is used in intra-articular injection to treat knee pain in patients suffering from osteoarthritis and have not received any relief from other treatments. Sodium Hyaluronate is used as visco-supplement, administered through series of injection into the knee, and this helps to lubricate, cushion, and reduce pain in the joints. This is majorly the last option used by the consumers before the surgery.
Another major use of sodium hyaluronate is as the intraocular viscoelastic injection. The compound is used as an assistance in ophthalmic surgery performing as aqueous and vitreous humor. These are used in cataract extraction, intraocular lens joining, corneal transplant, retina attachment surgery, treatment of dry eyes, and others.
Its usage in skin injections in plastic surgery is another major factor surging the demand for sodium hyaluronate injected majorly for reducing wrinkles on the face. As of 2017, FDA has approved 13 hyaluronate preparations called dermal fillers. These are also being used a filler of lips or any parts of the body. The filling effect is temporary and lasts for almost six months or longer in many consumers.
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However, the ingredient has major side effects such as an extreme cough, blue color or redness on the skin, stuffy nose and fever, swelling of eyelids, face or even lips, and difficulty in swallowing, amongst others.
Global Sodium Hyaluronate Market: Segmentation Overview
The global sodium hyaluronate market is segmented into an application, and geography. Further by application bakery, confectionery, beverages, and others. Owing to the advantageous properties of sodium hyaluronate, such as the viscoelasticity and water retention, the ingredient is widely used as raw material in cosmetics and quasi-drugs.
The cosmetics products include skin lotion, skin cream, bath salts, and mouthwash, amongst others. The ingredient has the water holding capacity of 2 to 6 liters in 1g. The solution of sodium hyaluronate is colorless, clear, and odorless.
Global Sodium Hyaluronate Market: Regional Outlook
Depending on a geographic region’s global sodium hyaluronate market is segmented into seven regions: North America, Latin America, Western Europe, Japan, Eastern Europe, Asia Pacific Excluding Japan and Middle East Africa. North America is anticipated to account for the largest share of the Sodium Hyaluronate market.
Global Sodium Hyaluronate Market: Prominent vendors
Some of the players identified across the value chain of the global sodium hyaluronate 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, and Bloomage Bio-Technology Corporation, amongst others.
Few of the strategies adopted by the key players in the market are partnership and collaboration with other operators, expansion into the untapped market, and joint ventures with the organizations in emerging countries to gain the strong foothold in the market. To ensure product differentiation and to acquire a considerable share of the market, major vendors are adopting creative strategies and are constantly developing innovative products.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and application.
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Regional analysis for Sodium Hyaluronate Market includes
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Western Europe
- Germany
- France
- U.K
- Italy
- Spain
- Nordics
- Benelux
- Rest of the Western Europe
- Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of the Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- China
- India
- ASEAN
- Australia and New Zealand (ANZ)
- Rest of APEJ
- Japan
- The Middle East and Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
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Global Sodium Hyaluronate Market: Segmentation
The global sodium hyaluronate market is segmented by application into:
- Cosmetics and personal care products
- Pharmaceuticals
- Others
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