Over the anticipated term, the size of the Chinese hyaluronidase market is expected to expand quickly. The Chinese market for hyaluronidase generated USD 44.8 million in revenue in 2022 and is projected to reach USD 176.6 million by 2030, increasing at a CAGR of 18.56% during the projection period.
The market report provides exceptional insights into the key factors that influence the global China hyaluronidase market, including drivers, opportunities, restraints, and challenges.
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Overview of the China Hyaluronidase Market
During the projected period, the highest growth rate in demand is anticipated for Chinese dermal fillers made of hyaluronic acid. China’s market offers both medium-term promise and long-term potential because of its sizable market, growing population, and sedentary lifestyle.
With approximately 430 metric tonnes sold in 2018, China beat the previous record for the global sales volume of hyaluronic acid raw materials. As China’s cosmetic surgery market continues to rise, so too does demand for hyaluronic acid, which is frequently used in treatments to keep the skin moist.
The rise of the middle class in Chinese society is one factor contributing to the country’s expanding cosmetic surgery market. More than 350 million Chinese people now have more purchasing power, raising their standard of living and enabling them to aspire to higher lifestyles and extravagances. It is increasingly considered the “icing on the cake” for people who are naturally attractive rather than just improving the looks of those with damaged features brought on by accidents and traumas.
• Our research analyst’s analysis indicates that during the projected period of 2023–2030, the global China hyaluronidase market is anticipated to develop annually at a promising CAGR of about 6.6%.
• China’s hyaluronidase market was estimated to be worth roughly USD 46.6 billion in 2022 and is projected to grow to USD 74.8 billion by 2030 in terms of revenue.
• Due to the rising demand for hyaluronidase in cosmetic operations, the China hyaluronidase market is anticipated to grow.
The market is expanding as a result of more cosmetic operations using hyaluronidase.
The growing demand for hyaluronidase in cosmetic operations is one of the factors driving the China hyaluronidase market. Hyaluronidase is frequently used in the removal of dermal fillers, a procedure that is becoming more and more common in the cosmetic industry. Hyaluronidase’s increasing use in medical contexts including ophthalmology and plastic surgery is another factor boosting the industry. In addition, the market is expanding as a result of technological developments in hyaluronidase manufacturing and use.
Growing popularity of minimally invasive medical procedures may present the sector with numerous prospects.
The possibility of expanding the enzyme’s use in medical applications beyond its current scope is one of the opportunities in the Chinese hyaluronidase market. Hyaluronidase has the potential to be employed in the treatment of a number of diseases, including cancer and inflammation. In addition, there is a chance for more research and development into fresh uses for hyaluronidase, which can broaden the market. Another prospect for market expansion stems from China’s rising interest in minimally invasive cosmetic procedures. Hyaluronidase can be utilised to quickly and painlessly remove dermal fillers.
Exorbitant enzyme prices and a lack of public awareness could, to some measure, impede growth.
Hyaluronidase use in cosmetic operations is not uniformly regulated, which is one of numerous challenges the Chinese market for the enzyme confronts. This might result in patient damage and overuse. The advantages and dangers of hyaluronidase are also not well known among patients and medical professionals. The enzyme’s expensive price as well as possible adverse effects, such as allergic responses, limit market expansion.
The availability of alternatives could provide a barrier to the market’s expansion.
The availability of alternate methods for removing dermal fillers is another difficulty for the Chinese hyaluronidase sector. These alternatives consist of saline injections and physical massage. The ongoing COVID-19 pandemic has also had an impact on China’s healthcare sector, possibly causing delays in treatments and a decline in demand for hyaluronidase. Hyaluronidase is frequently used in cosmetic operations, however the long-term implications of this use are still little understood, which may also restrain market expansion.
The China Hyaluronidase Market is segmented based on product, application and region.
China Hyaluronidase Market: Product Segment Analysis
● Animal-Derived Hyaluronidase
● Synthetic Hyaluronidase
China Hyaluronidase Market: Application Segment Analysis
● Plastic Surgery
Recently Occurring Events :
• To jointly develop and promote hyaluronic acid and hyaluronidase products for the Chinese market, Bloomage Biotechnology and Haohai Biological Technology signed a strategic collaboration agreement in 2019. The partnership aims to use the knowledge and resources of both businesses to sell cutting-edge products.
• Streptococcus zooepidemicus is the source of a new hyaluronidase product that Shandong Freda Biotechnology introduced in 2021. The product is advertised as a sterile, freeze-dried powder for injection that is intended to alleviate problems associated with hyaluronic acid-based fillers and to improve the elasticity and hydration of skin.
Some of the players of Hyaluronidase in China include:
● Bloomage BioTechnology Corporation Limited
● Q-Med AB
● IBSA Farmaceutici Italia Srl
● Guangdong Techpool Bio-Pharma Co Ltd
● Shandong Runxin Biotechnology Co Ltd
● China Resources Double-Crane Pharmaceutical Co Ltd
● Jiangsu Wanbang Biopharmaceuticals Co Ltd
● Lanzhou Institute of Biological Products Co Ltd
● Shanghai Sunflower Group Co Ltd
● Hangzhou Huadong Medicine Group Sanxing Pharmaceutical Co Ltd
● LifeTech Scientific Corporation
● Shanghai Jingfeng Pharmaceutical Co Ltd
● Sichuan Kelun Pharmaceutical Co Ltd
Market for Hyaluronidase in China: A Regional Analysis
Research and development (R&D) is a major component of the Chinese economy and is the main engine of the country’s economic expansion. Some of the key elements influencing the expansion of the business include increasing disposable personal income, which has an impact on average income, as well as shifting consumer preferences among the Chinese populace. Another important aspect driving the expansion of the Chinese market is the sizeable presence of the middle-aged population.
China is the second-largest cosmetics market in the world behind the United States in terms of revenue and consumer value. It is also one of China’s most dynamic and promising business sectors. Due to rising disposable income, urbanisation, and the influence of social media, the desire for higher quality, luxury, powerful brand products in the beauty and personal care sector is on the rise. The retail sales of cosmetics in China were close to 300 billion yuan in 2019 and are expected to reach close to 400 billion yuan by 2023.
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