Sodium Hyaluronate-based Products Market - By Product (Topical, Injectable), Application (Pharmaceuticals [Dermatology, Ophthalmology, Orthopedic, Urology], Cosmetics), End-use (Hospitals, ASC) - Global Forecast 2024 - 2032

Sodium Hyaluronate-based Products Market - By Product (Topical, Injectable), Application (Pharmaceuticals [Dermatology, Ophthalmology, Orthopedic, Urology], Cosmetics), End-use (Hospitals, ASC) - Global Forecast 2024 - 2032

Sodium Hyaluronate-based Products Market size is set to observe 7.8% CAGR between 2024 and 2032, driven by the rapidly aging population worldwide. Of late, the demand for ophthalmic solutions containing sodium hyaluronate due to its moisturizing and lubricating properties, which are beneficial for aging skin is significantly growing. Additionally, the rising prevalence of joint disorders, such as osteoarthritis has spurred the preference for sodium hyaluronate-based intra-articular injections to provide pain relief and improve joint mobility. The Centers for Disease Control and Prevention (CDC) stated that over 32.5 million adults in the U.S. lived with osteoarthritis (OA) in 2023. Globally, OA affected more than 500 million people, which accounts 7% of the world's population.

Moreover, there is an increasing awareness among consumers about the benefits of hyaluronic acid in skincare and medical treatments. The cosmetic industry is experiencing a surge in demand for sodium hyaluronate-based dermal fillers and topical skincare products, driven by the desire for youthful-looking skin and the availability of non-invasive anti-aging solutions. The growing emphasis on minimally invasive treatments and the preference for natural ingredients in skincare products will further propel the industry growth.

The sodium hyaluronate -based products industry is divided into product, application, end-use and region.

By application, the market size from the ophthalmology segment will record a 7.7% growth rate between 2024 and 2032. The increasing prevalence of eye disorders, such as dry eye syndrome and cataracts is necessitating effective solutions for lubrication and hydration. Sodium hyaluronate, with its ability to retain moisture and provide lubrication is gaining prominence in ophthalmic formulations, including artificial tears and intraocular solutions. Moreover, advancements in ocular drug delivery systems and the rising demand for minimally invasive treatments are further driving the product adoption.

With respect to end-use, the sodium hyaluronate-based products market from the ambulatory surgical centers segment will witness 8% growth rate throughout 2024-2032. There is a rising preference for outpatient surgical procedures, driven by cost-effectiveness and reduced hospital stays. Advancements in minimally invasive surgical techniques have also increased the use of sodium hyaluronate-based products for procedures like ophthalmic surgeries, orthopedic interventions, and aesthetic treatments performed in ambulatory settings.

Europe sodium hyaluronate -based products industry size will witness 7.2% CAGR during the forecast period, attributed to stringent regulations for promoting the use of safe and effective skincare and ophthalmic solutions. Additionally, the consumer preference for natural and sustainable ingredients in cosmetic and medical products is increasing across the region. Moreover, strategic partnerships between pharmaceutical companies and research institutions have led to the development of innovative formulations and delivery systems for enhancing the efficacy and versatility of sodium hyaluronate-based products in Europe.