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.
The
market is evolving rapidly due to the increasing adoption of aesthetic
procedures in developed and developing regions. Increasing use of hyaluronic
acid surfaces in cardiovascular implants, such as stents and vascular grafts,
for improving the compatibility coupled with growing awareness about anti-aging
products is fueling the growth. The efficacy and evident results of hyaluronic
acid based dermal fillers are attracting this population base.
The
global increase in population also results in an increased demand for antiaging
cosmetic and aesthetic treatments. Owing to its distinctive viscoelastic and
moisturizing properties coupled with lower toxicity levels, hyaluronic acid
products are directly affected by growing demand for minimally invasive
antiaging solutions. The minimal adverse effects, lower pain, shorter recovery
time, and lesser postsurgical complications make minimally invasive surgeries
significantly attractive.
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Hyaluronic Acid
Market Report Highlights
- 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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Hyaluronic Acid
Market Segmentation
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.
For more info visit @ https://www.grandviewresearch.com
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