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.

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.

Segmental Outlook  

The hyaluronidase market is classified on the basis of type and application. Based on type, the market is segmented into animal-derived hyaluronidase and synthetic hyaluronidase. Based on application, the market is segregated into dermatology, chemotherapy, ophthalmology, and others. 

Global Hyaluronidase Market Share by Application, 2019 (%)

Global hyaluronidase market is driven by its rising application in dermatology

Hyaluronidase finds significant application in dermatology application and the hyaluronidase for dermatology market is estimated to project a considerable CAGR during the forecast period. The rise in demand for minimally invasive cosmetic procedures is expected to offer growth to the market in the dermatology application. Moreover, the continuous development in hyaluronic acid for the dermatology application will further augment the market growth across the globe. For instance, in April 2019, Merz Pharma GmbH & Co. launched Belotero Revive Dermal Filler, HA filler works beneath the skin for improving skin hydration, reducing redness and roughness, and minimizing the appearance of fine lines.

Regional Outlook 

The global hyaluronidase market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America holds a significant share in the global hyaluronidase market. The US plays the critical role in geographic contribution of North America in global hyaluronidase market, attributing to the growing adoption of the facial aesthetic procedure and growing demand for a minimally invasive cosmetic procedure. A significant rise in cosmetic procedures was witnessed over the years in the US and Canada. As per the American Society of Plastic Surgeons (ASPS), in 2018, around 17.7 million surgical and minimally invasive cosmetic procedures performed in the US. In addition, there is a rise in adoption of hyaluronic acid injectables in the US, owing to which, the demand for hyaluronidase is considerably higher in North America as compared to other regions across the globe. 

Global Hyaluronidase Market Growth, by Region 2020-2026

Asia-Pacific is expected to propel with a considerable growth rate in the global market

Asia-Pacific is estimated to project a considerable CAGR in the global hyaluronidase market. Countries in Asia-Pacific that are contributing to the market growth include China, India, and Japan. The growth is backed by the increasing population and the rising middle-aged population is considerably augmenting the cosmetic procedures in the region. The presence of a huge number of plastic surgeons in the region is further augmenting the market growth. According to International Society of Aesthetic Plastic Surgery (ISAPS), China comprises 2,800 plastic surgeons in 2017, estimating around 6.4% of the total plastic surgeons across the globe.  In addition, the rising prevalence of cancer, such as prostate cancer in expected to drive the market growth. According to the WHO, in 2018, around 25,696 new prostate cancer cases were registered and around 17,184 mortality cases were registered for the same in India. Therefore, the demand for hyaluronic acid is increasing for the treatment of cancerous cells, which in turn, is augmenting the market growth in the region.

Market Players Outlook

The key players in the hyaluronidase market are contributing significantly by providing advanced technology-based products and through expanding their geographical presence across the globe. The key players operating in the global hyaluronidase market include Amphastar Pharmaceuticals, Inc., Halozyme, Inc., STEMCELL Technologies Inc., Kitazato Corp., Gynemed GmbH & Co. KG, ALTEOGEN Inc., and Bausch Health Companies Inc. These market players adopt various strategies such as product launch, partnerships, collaborations, merger, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global hyaluronidase market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.