Hyaluronic Acid Market Size To Reach $16.6 Billion By 2027 | Key Industry Players Are Ferring Pharmaceuticals, Inc.; and Smith & Nephew Plc.

The global hyaluronic acid market size is expected to reach USD 16.6 billion by 2027, expanding at a CAGR of 8.1%, according to a new report by Grand View Research, Inc. Factors such as increasing concern of population regarding chemicals, desire to get quick and evident results, and shorter recovery time are high impact rendering drivers of this market.

Hyaluronic acid, which is produced naturally in the human body, keeps a person’s tissues well-lubricated and moist. Besides, it promotes healthy skin, accelerates wound healing process, relieves joint pain, relieves dry eye and discomfort, and has been found to be helpful in preventing bladder pain. All these advantages have increased the demand for hyaluronic acid globally.

Perhaps the most known usage of the product is in anti-aging cosmetic treatments. According to the CIA World FactBook, the global female population as of December 2019 in the age group of 25-59 years was over 1.5 billion, while that above 55 years was over 0.7 billion. Moreover, the population of women above 55 years of age was higher than that of men. Women in the aforementioned age groups are the main consumers of cosmetic treatment procedures, which bodes well for the hyaluronic acid market.

The year 2018 saw 23 million cosmetic surgeries being performed globally, according to the International Society of Aesthetic Plastic Surgery, of which nearly 3.8 million procedures were HA-based non-surgical ones. This was a jump of 11.6% from the 2017 numbers. Moreover, the American Society for Aesthetic Plastic Surgery stated that Americans spent approximately USD 17.4 billion on non-surgical procedures. This proves the growing influence of the hyaluronic acid market.

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Further key findings from the study suggest:

• The osteoarthritis segment held the largest share in 2019. In 2013, more than 27 million people were suffering from osteoarthritis. Viscosupplements are gaining popularity as a cure in pain management. Use of hyaluronan as a treatment for osteoarthritis has been approved by the U.S. FDA in 1997 and has gained substantial market share
• The rising obesity resulting in osteoarthritis and joint pain has increased the demand for hyaluronic acid injections as treatment. With the prevailing consumer trend, which favors convenience over higher costs, companies such as Genzyme (Sanofi-Aventis) and Zimmer have launched single-injection products. The 2014 FDA approval for single-injection treatment “MONOVISC” is expected to further fuel the growth of the single-injection product segment
• Cosmetic surgeries are booming with approximately 14 million minimally invasive procedures performed every year. In 2013, hyaluronan-based facial fillers received FDA approval, which is used in corrective measures, anti-aging procedure, and filling fine lines. These dermal fillers constitute a large share in these procedures and witnessed 8% growth in the year 2014
• Growing preference for short-treatment regimens, even though high priced, and growing prevalence of target diseases, such as osteoarthritis, are high impact rendering factors that can be attributed for the large share of this region. In 2019, the most lucrative applications of hyaluronic acid in the North American region were in the form of dermal fillers and viscosupplements for management of osteoarthritis
• Hyaluronic acid market in Asia Pacific region is anticipated to emerge as the fastest growing region during the forecast period. The growing geriatric population in China and Japan provides a large customer base for anti-aging products and services. Increasing awareness about applications of hyaluronan and its efficacy fuels the demand. In addition, stabilizing economies leaves the middle-class population with surplus money to spend on these procedures
• The industry is presently dominated by key participants such as F. Hoffmann-La Roche Ltd.; Seikagaku Corporation; Galderma S.A; Sanofi (Genzyme); Anika Therapeutics Inc.; Salix Pharmaceuticals; Zimmer Holdings Inc.; Allergan Inc.; Ferring Pharmaceuticals, Inc.; and Smith & Nephew Plc.

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Grand View Research has segmented the global hyaluronic acid market by application and region:

Hyaluronic Acid Application Outlook (Revenue, USD Million, 2016 - 2027)

• Dermal fillers
• Osteoarthritis
• Single injection
• Three injection
• Five injection
• Ophthalmic
• Vesicoureteral reflux

Hyaluronic Acid Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Mexico
• MEA
• South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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