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According to Research Layer, The global Hyaluronidase Market is expected to surpass USD 1875.23 Million by 2030 with a CAGR rate of 9.8% during the projected period.
Hyaluronidase is a naturally occurring chemical that can be obtained from either cows or pigs. It is cleaned to get rid of animal products. It can also be created in a lab using human albumin as a starting point.
Injection of hyaluronidase is a chemical that spreads. It is combined with other medications injected beneath the skin to enhance absorption by the body. When a medicine cannot be administered by injection into a vein, this technique of drug delivery is the sole option. Additionally, a hyaluronidase injection is used to improve the absorption of liquids or medications injected under the skin. Additionally, it was once utilised to facilitate better radioactive material absorption during a procedure known as subcutaneous urography.
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New coronavirus disease outbreak spread globally and had a disastrous impact on the economy. The impact of COVID-19 on the world economy is so significant that all industries, including the pharmaceutical, cosmetics, and personal care industries, are experiencing negative effects. Many pharmaceutical and cosmetic businesses are helping regional governments solve the unmet COVID-19 demands while also dealing with the effects, which has started to put financial strain on industrial sectors. Hyaluronidase demand has been significantly impeded by COVID-19's influence on the pharmaceutical and cosmetic industries, which began with disruptions in R&D operations and continued all the way to the conclusion of the pharmaceutical product supply chain. The supply chain is under a lot of strain whether it is internal or external. Supply of the pharmaceutical drugs and personal care products has narrowed down while the demand is burgeoning, creating a huge demand-supply gap.
Pharmaceutical sector always try to maintain natural market flow of pharmaceutical drugs and all other products, which has become a challenge in these tough pandemic times. Providing essential medicines at an affordable price is the current major challenge faced by these sectors even after lockdown has been lifted in most part of the world. VOCID-19 impact on all the application sectors of hyaluronidase including dermatology, chemotherapy, plastic surgery, and ophthalmology has severely further impacted global hyaluronidase market.
Hyaluronidase Market Driver:
Rising Incidence and Prevalence of Cancer
Cancer patient base is growing year-on-year and is expecting efficient treatment option to restrict its prevalence. Existing chemotherapy drugs are widely used in cancer treatment while its side effect creates an opportunity for new drugs developed in the market. According to the World Health Organization (WHO), every sixth death in the world is occurring due to cancer, and it is the second leading cause of death. In 2019, more than 1.8 million new cases of cancer were registered with more than 870,970 male sufferers and 891,480 female sufferers in the U.S. Additionally, changing lifestyle and increasing exposure to ultraviolet radiation are likely to increase the rate of cancer in the coming years. For instance, according to the Skin Care Foundation, diagnosis and treatment of non-melanoma skin cancers increased by 77% between 1994 and 2014 and around 90% of skin cancer occurs due to sun exposure. Increasing incidence and prevalence of cancer forms and types worldwide is expected to drive the global hyaluronidase market trends.
Hyaluronidase through chemotherapy has high demand in the emerging and developing countries due to very high prevalence of cancer forms including skin cancer, breast cancer, blood cancer, colorectal cancer, and others. Increasing adoption of chemotherapy in the cancer therapies and treatments is expected to further boost the global hyaluronidase market forecast.
Hyaluronidase Market Opportunity:
Wide Range of Application
Hyaluronidase has found a wide array of application in various sectors. Dermatology and plastic surgery is one of the most common application. However, now a days, these products have a huge opportunity in chemotherapy. These products are used to absorb the radiation therby protecting the skin from damage. Many companies are focusing on developing the safe products having minimal side effect creating a further market opportunity. Changing lifestyle and increasing prevalence of cancer will open new doors for the market growth.
The global Hyaluronidase Market has been segmented based on Type, Application, and region/country.
Based on the Type, the Hyaluronidase Market has been segmented into Animal-derived Hyaluronidase, Synthetic Hyaluronidase. Animal-derived Hyaluronidase held the largest share for the market. This dominance is owing to most approved brands that are available are animal-derived enzymes
Based on the Application, the hyaluronidase market has been segmented into Chemotherapy, Invitro Fertilization, Ophthalmology, Dermatology and Others. Dermatology held the largest share for the market. The hyaluronidase enzyme aids in the diffusion and absorption of injected fluids in the tissues. Additionally, it reduces the danger of necrosis and intensifies the effects of local anaesthetic.
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The global Hyaluronidase Market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The geographic analysis of the global Hyaluronidase Market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is one of the leading chemotherapy markets across the globe. This growth is majorly attributed to high prevalence of various cancers in region including skin cancer, lung cancer, and breast cancer, ovarian cancer, among others. For instance, in 2016, 15.5 million people survived of cancer and the number is expected to reach 20.3 million by 2026 in the U.S. Moreover, National Cancer Institute has estimated that about 1,735,350 new cases of cancer would be diagnosed alone in the U.S. and near about 609,640 people would die from the disease in 2018. As result, the demand for chemotherapy agents and new cancer treatments including hyaluronidase is expected to witness a huge surge during the forecast period, 2018–2025. Therefore, to meet the upcoming demand and grab the major share of the market, most of the key players are heavily investing in research and development activities and using modern technologies in R&D, driving the North American hyaluronidase market growth.
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· The phase 3 clinical trial assessing HYQIA (immune globulin infusion 10%(human) with recombinant human hyaluronidase) for maintenance treatment of chronic inflammatory demyelinating polyradiculoneuropathy was completed in July 2022, and Takeda reported positive topline results.
· Mesoestectic introduced a line of moisturising solutions in August 2021. The product comprises hyaluronic acid for the application of hydration.
· The FDA approved Herceptin Hylecta, a subcutaneous injectable from Genetech, Inc., in February 2019 for the treatment of patients with HER2-positive early breast cancer. 10,000 units of hyaluronidase and 600 mg of trastuzumab are combined in this medication, with the former assisting in the delivery of the latter beneath the skin.
· The combination of DARZALEX FASPRO (daratumumab and hyaluronidase-fihj) with Kyprolis (carfilzomib) and dexamethasone (Kd) was approved by the U.S. Food and Drug Administration in December 2021 for the treatment of adult patients with relapsed or refractory multiple myeloma who have received one to three prior lines of therapy.
The key players in the global Hyaluronidase Market are 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, Dermax Medical Technology (Hebei) Co., Ltd., Hangzhou Techderm Biological Products Co., Ltd., Jinan Elinkmax Business Co., Ltd., Shandong SAC Refractory Co., Ltd., Shijiazhuang Yiang Technology Co., Ltd., Hangzhou Singclean Medical Products Co., Ltd., Hebei Puling Technology Co., Ltd., Guangzhou Otesaly Ltd, Xiamen Vecon International Co., Ltd., and Others.
This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2022 to 2030. For this analysis, Research Layer segmented the global Hyaluronidase Market has based on component, communication infrastructure, device usage, end use, and region/country.
· Potential Investors
· Regulatory & Government Bodies
· Research & Consulting Firms
· Upstream & Downstream Vendors
· End Users
· Others
Report Scope
The global Hyaluronidase Market is expected to exhibit 9.8% during the projected period.
The North America region is expected to be an early adopter of the global Hyaluronidase Market in 2030
The Dermatology segment is expected to be lucrative for the market during the forecast period.
Animal Derived Hyaluronidase is expected to be the largest contributor to the Hyaluronidase Market by 2030.
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, Dermax Medical Technology (Hebei) Co. Ltd., Hangzhou Techderm Biological Products Co. Ltd., Jinan Elinkmax Business Co. Ltd., Shandong SAC Refractory Co. Ltd., Shijiazhuang Yiang Technology Co. Ltd., Hangzhou Singclean Medical Products Co.,Ltd., Hebei Puling Technology Co. Ltd., Guangzhou Otesaly Ltd, Xiamen Vecon International Co. Ltd. and Others are the key companies of the global Hyaluronidase Market.
The global Hyaluronidase market is expected to account for a revenue of 1875.23 USD million in 2030 and is expected to grow with a CAGR of 9.8% by 2030.
Report Code :
RL6531
Published on :
Dec 2022
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