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.
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%.
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.
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
Global Sodium Hyaluronate Injection Market: Research Scope
Global Sodium Hyaluronate Injection Market, by Dosage
Global Sodium Hyaluronate Injection Market, by Type
- Intra-articular Injection
- Intraocular Viscoelastic Injection
- Skin Injections in Plastic Surgery
Global Sodium Hyaluronate Injection Market, by Application
- Personal Care
Global Sodium Hyaluronate Injection Market, by End-user
- Ambulatory Surgical Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.