Sodium Hyaluronate Eye Drops Market Growth to Remain Stable during the Projection Period 2021-2031
Sodium Hyaluronate Eye Drops Market: Introduction
- Sodium hyaluronate eye drops, also known as artificial tears, are used to relieve eye soreness and dryness. Sodium hyaluronate eye drops smoothen, moisten, and lubricate the eye surface and is widely recommended.
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- Sodium hyaluronate is a popular ophthalmic solution used for treatment of dry eye syndrome. Hyaluronic acid is a natural substance that occurs in the body including skin and joint fluid. Sodium hyaluronate is an ingredient extracted from the hyaluronic acid and known by other names such as hyaluronic acid sodium salt, hyaluronic acid sodium, and hyaluronic sodium.
- Sodium hyaluronate is also considered an ophthalmic viscosurgical device (OVD) and is useful in procedures such as corneal transplants surgery, cataract surgery, secondary intraocular lens implantation, and glaucoma filtration surgery. Sodium hyaluronate is safe to use and is used by pregnant women.
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Key Drivers, Restraints, and Opportunities of Global Sodium Hyaluronate Eye Drops Market
- Rise in prevalence of dry eye conditions across the globe, increase in awareness about the treatment & causes of dry eye syndrome, and thriving clinical trials for the use of sodium hyaluronate solutions are projected to boost the global market during the forecast period. The prevalence of dry eye disease in men is higher than in women, and the prevalence rate ranges from 5% to 50%. Sodium hyaluronate is considered an emerging option as artificial tear therapy for eye conditions.
- Rise in prevalence of diabetes, aging population, surge in patient burden suffering from dryness and soreness of eyes, and increase in incidence of conjunctivitis are the other factors fueling the growth of the global sodium hyaluronate eye drops market. Moreover, sodium hyaluronate eye drops is a popular remedy recommended for hydration of dry and sore eyes and to smooth irritation. Dry eye disease and conjunctivitis are the major causes of increase in ophthalmic visits. According to research, conjunctivitis accounts for 1% of all primary and emergency care visits every year. Incidence of viral conjunctivitis is reported to be 80,000 per 100,000 cases with acute conjunctivitis condition.
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North America to Dominate Global Sodium Hyaluronate Eye Drops Market
- North America dominated the global sodium hyaluronate eye drops market in 2020, followed by Europe. According to research, in 2018, dry eye syndrome affected 3.23 million women, 1.68 million men, and round 4.9 million elderly population aged 50 years and above in the U.S. According to the National Health and Wellness Survey, 6.8% of the adult population of the U.S. suffered from dry eye disease.
- Prevalence of dry eye disease rises with age, and is most common among women than men in the U.S. Prevalence of conjunctivitis is another major factor expected to fuel the growth of the sodium hyaluronate eye drops market in the region during the forecast period
- According to research published by NCBI, acute conjunctivitis affects around 6 million people in the U.S. each year, and incurs treatment cost of US$ 377 Mn to US$ 857 Mn every year. In the U.S., 15% to 40% of the population suffer from allergic conjunctivitis. Hence, rise in demand for treatment for eye diseases is likely to drive the sodium hyaluronate eye drops market in North America during the forecast period.
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- Europe was the second largest market for sodium hyaluronate eye drops in 2020. Increase in patient burden suffering from dry eyes, eye soreness, conjunctivitis, corneal epithelial injuries, and other conditions are projected to boost the growth of the market in the region.
Key Companies of Sodium Hyaluronate Eye Drops Market
- Bausch & Lomb
- Bayer, Inc.
- Johnson & Johnson
- The United Laboratories
- Novax Pharma
- Thea Pharmaceuticals
- Scope Ophthalmics Ltd.
- Other Prominent Players
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