New York, NY, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Hyaluronidase Market By Type (Animal-derived Hyaluronidase and Synthetic Hyaluronidase) and By Application (Dermatology, Chemotherapy, Ophthalmology, Plastic Surgery, and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”.
According to the research study, the global Hyaluronidase Market was estimated at USD 733.7 Million in 2019 and is expected to reach USD 1293.4 Million by 2026. The global Hyaluronidase Market is expected to grow at a compound annual growth rate (CAGR) of USD 8.0% from 2019 to 2026.
Proteins designed genetically are called Hyaluronidase. It is injected into the body to treat dehydration, muscle stiffness, and various other health issues. Sometimes these are injected in the body to aid absorption of other injected fluids in a body. Hyaluronidase is employed for a medical practice to upsurge tissue absorption of numerous drugs. These enzymes have been extensively used as spreading agents, along with local anesthetics, chemotherapeutics, and contrast media.
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• Report Introduction, Overview, and In-depth industry analysis
• 190+ Pages Research Report
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• Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes List of table & figures
• Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
• Facts and Factors research methodology
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Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Awareness of cosmetic surgery has increased globally, Hyaluronidase is one of the primary enzyme used in cosmetic surgery. This is expected to propel the growth of the Hyaluronidase market size around the globe. The demand for Hyaluronidase is increasing with raising skin disorders among various age groups. In addition, various government organizations have made medical and health-related insurances, reimbursement, and schemes for aesthetic nonsurgical processes this makes the medical treatment affordable to a large population. This is expected to upsurge the demand for Hyaluronidase across the map.
Overdosage of Hyaluronidase may cause side effects that can cause harmful disorders. Globally the awareness of side effects is increasing, to curb such harmful disorders; manufacturers are offering medically advanced Hyaluronidase. This factor is expected to create lucrative opportunities for key manufacturers operating in the Hyaluronidase market. Additionally, Hyaluronidase has a wide application area apart from cosmetic surgeries Hyaluronidase is also used to aid contrast dyes to make X-rays more clear and vivid. Owing to wide application areas of Hyaluronidase (SCR) the market is expected to drive demand. Furthermore, the market is experiencing several mergers and acquisitions among top companies across the map to expand its global presence in the Hyaluronidase market.
Top Market Players:
- Amphastar Pharmaceuticals Inc.
- Halozyme Inc.
- Bausch & Lomb Incorporated
- The Cooper Companies Inc.
- Sun Pharmaceutical Industries Ltd.
- STEMCELL Technologies Inc.
- Shreya Life Sciences Pvt. Ltd.
- Calzyme
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Manufacturers operating in this market are focused on improving Hyaluronidase performance by introducing safe surgery procedures. This is anticipated to boost demand for the Hyaluronidase market globally.
Globa; Hyaluronidase Market: Key Segments
By product type, the market is divided into Animal-derived Hyaluronidase and Synthetic Hyaluronidase. The Animal-derived Hyaluronidase segment accounted for the largest market share of 66% in the year 2019. Animal-derived Hyaluronidase is expected to aid absorption of other injected fluids in the body, this makes the treatment process less risky. Owing to such factors Animal-derived Hyaluronidase is expected to gain demand during the forecast period. Furthermore, based on the application the market is classified into dermatology, chemotherapy, ophthalmology, plastic surgery, and others. Dermatology led the segment in 2019 contributing to 42% of the total market share.
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Global Hyaluronidase Market: By Type Segmentation Analysis
- Animal-derived Hyaluronidase
- Synthetic Hyaluronidase
Global Hyaluronidase Market: By Application Segmentation Analysis
- Dermatology
- Chemotherapy
- Ophthalmology
- Plastic Surgery
- Others
Hyaluronidase for medical use was firstly obtained from crude extracts of bovine or ovine testicular tissue called BTH (bovine testicular Hyaluronidase). Hyaluronidase is employed for a medical practice to upsurge tissue absorption of numerous drugs. The prime application of Hyaluronidase is to increase the capacity of absorption of injected drugs. In dermatology and plastic surgery Hyaluronidase is usually used to enhance the effects of local anesthetics and to dissolve the injected Hyaluronidase. Hyaluronidase is most commonly used to treat cosmetic disorders, dehydration, muscle stiffness, and others.
Increasing penetration of Hyaluronidase across different application areas such as chemotherapy, cosmetic surgery, and others has driven the market growth of Hyaluronidase globally. The market has witnessed growth owing to the rising need for physical alterations among the millennial population across the globe. The need for safe and side-effect-free cosmetic surgery requirements has propelled the growth of the Hyaluronidase market over the forecast period.
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Global Hyaluronidase Market: Regional Analysis
Geographically, the global Hyaluronidase market was dominated by North America by generating revenues worth USD 255.53 Mn in 2019. This dominance is majorly attributed to the rising demand for cosmetic surgery in countries such as the U.S. and Canada. Furthermore, Europe is set to observe the second-fastest growth of a market share of 28% over the forecast period.
Key Insights from Primary Research
- Our primary respondents believe the market to witness a rapid growth of 8.0% over the forecast period on account of rising environmental concerns.
- Some of the CXOs predict the Animal-derived Hyaluronidase segment to maintain its dominance throughout 2026 as Animal-derived Hyaluronidase provides a most effective process of absorption of other injected fluids in the body. Furthermore, the manufacturers operating in this market are expanding their presence by mergers and acquisitions across various industry verticals.
- Some of the industry experts interviewed in the Asia Pacific revealed that increasing awareness towards skincare and body alteration surgeries has propelled the growth of the Hyaluronidase market globally.
- Regionally, the Asia Pacific region is expected to contribute largely to the global Hyaluronidase market. Some of the interviewees said that their future plans are to focus majorly on Hyaluronidase application areas. The manufacturers operating in countries such as the U.S. and Canada are expected to create higher adoption opportunities for the Hyaluronidase market.
- The information & technology subject matter experts suggest investing in R&D activities to come up with newer, economic, and more efficient Hyaluronidase. They believe advanced technology in the medical and chemical industry will witness widespread acceptance across the value chain of the Hyaluronidase market.
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