Global Hyaluronidase Market is expected to grow at a CAGR of 8.55% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Hyaluronidase Market by Product Type (Animal-derived Hyaluronidase, Synthetic Hyaluronidase), Applications (Chemotherapy, Dermatology, Plastic Surgery, Ophthalmology, and Others), Regions, and Global Forecast 2020-2027.
The global hyaluronidase market is expected to grow from USD 763.6 million in 2020 to USD 1,300 million by 2027, at a CAGR of 8.55% during the forecast period 2020-2027.
The Asia-Pacific region stands as a promising market for hyaluronidase and is expected to grow at the highest CAGR during the forecast period. The APAC hyaluronidase market is poised to witness high growth in the coming years owing to the increasing number of skin disease patients, chemotherapy procedures and medical tourism. The markets in China and South Korea are proliferating, commanding significant shares in the regional market. However, the North America region is expected to hold the highest market share in terms of revenue.
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Key players in the global hyaluronidase market are Sun Pharmaceutical Industries, CBC Pharma, Valeant Pharmaceuticals, Amphastar Pharmaceuticals, Inc., Halozyme Therapeutics, STEMCELL Technologies, PrimaPharm Inc., Bausch & Lomb Inc, Shreya Life Sciences, and CooperSurgical Fertility among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the hyaluronidase market.
On February 2020, the U.S. Food and Drug Administration approved a Genentech Biologics License Request for a fixed-dose formulation of pertuzumab and trastuzumab for subcutaneous administration using the ENHANZE ® drug delivery system from Halozyme in conjunction with IV (intravenous) chemotherapy for the care of qualifying breast cancer patients. The proprietary ENHANZE ® drug delivery technology developed by halozyme is based on its patented human recombinant hyaluronidase enzyme (rHuPH20). It has been shown that rHuPH20 eliminates conventional limits on the amount of biologics that can be supplied subcutaneously, which means, under the skin. Hence, by using rHuPH20 compounds can be administered subcutaneously instead of intravenously. ENHANZE ® reduces the requirement for multiple injections, thereby reducing time and increasing efficiency.
The product type segment includes animal-derived hyaluronidase and synthetic hyaluronidase. The animal-derived hyaluronidase segment dominated the market and is expected to continue to do so over the forecast period as many commercial brands procure from animal sources. However, animal-derived hyaluronidase has its own limitations which led to the creation of synthetic hyaluronidase. On the basis of applications, the market has been divided into chemotherapy, dermatology, plastic surgery, ophthalmology, and others. The dermatology segment is expected to grow at the highest rate due to the increasing number of skin diseases. The other area that shows high growth is chemotherapy.
About the report:
The global hyaluronidase market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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