The global hyaluronidase market is growing at a significant CAGR of around 7.5% during the forecast period (2020-2026). Hyaluronidase is a genetically engineered protein that catalyze the degradation of hyaluronic acid. It is used along with the fluids that are injected in the body for the treatment of dehydration. Hyaluronic acid is particularly developed for minimally invasive cosmetic procedures, including breast enhancement and facial tissue augmentation. There are several factors that are offering growth to the global hyaluronidase market, such as rising prevalence of cancer and increasing trend for minimally invasive cosmetic procedures. As per the American Society of Plastic Surgeons (ASPS), a number of cosmetic procedures are continuously growing as there were around 17.7 million cosmetic procedures performed in the US including both, surgical and minimally invasive procedures in 2018, which is increased by 2% as compared to 2017. Therefore, the demand for hyaluronidase is continuously increasing in the developed and emerging nations across the globe.
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Moreover, there are several other factors that are driving the global hyaluronidase market, which includes rising middle-aged population, and increasing disposable income across the globe. According to the United Nation, around 45% of the total population in Europe is in the age range of 35-64 years in 2019. Therefore, the demand for aesthetic correction and other cosmetic procedures is gradually increasing across the globe, backed by the rising consciousness among middle-aged population. However, the outbreak of COVID-19 pandemic will affect the market growth during the forecast period. The ban imposed on international travel will affect the medical tourism in emerging economies that are based on the cosmetic surgical procedures.
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Market Segmentation
Global Hyaluronidase Market by Type
• Animal-derived Hyaluronidase
• Synthetic Hyaluronidase
Global Hyaluronidase Market by Application
• Chemotherapy
• Dermatology
• Ophthalmology
• Others (In Vitro Fertilization)
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• ALTEOGEN Inc.
• Amphastar Pharmaceuticals, Inc.
• Bausch Health Companies Inc.
• Fox Group International
• Gynemed GmbH & Co. KG
• Halozyme, Inc.
• Janssen Biotech, Inc.
• Kitazato Corp.
• Merck KGaA
• Shreya Life Sciences Pvt. Ltd.
• STEMCELL Technologies Inc.
• Takeda Pharmaceutical Co. Ltd.
• The Cooper Companies Inc.
• Tokyo Chemical Industry Co., Ltd.
• Vitrolife Sweden AB
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