Hyaluronic Acid Industry Overview
The global hyaluronic acid market size is expected to reach USD 16.8 billion by 2030, expanding at a CAGR of 7.45%, 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. The industry is evolving rapidly due to the increasing adoption of aesthetic procedures in developed and developing regions. Increasing the use of hyaluronic acid surfaces in cardiovascular implants, such as stents and vascular grafts, for improving the compatibility coupled with the growing awareness about anti-aging products is fueling the growth.
Hyaluronic Acid Market Segmentation
Grand View Research has segmented the global hyaluronic acid market on the basis of application and region:
Based on the Application Insights, the market is segmented into Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux.
- The OA dominated the global industry and accounted for more than 43.60% of the overall revenue in the year 2021.
- The industry is anticipated to grow on account of an increase in the geriatric population and a rising preference for minimally invasive procedures. Almost 90% of prescriptions of viscosupplements are intended for the treatment of knee osteoarthritis.
- As per the Osteoarthritis Research Society International (OARSI), the U.S., both corticosteroids and hyaluronic acid injections can be used for the treatment of osteoarthritis, but viscosupplementation is slightly more effective than corticosteroids.
- Though the share of painkillers in pain management is high, viscosupplements are gaining popularity as a cure. The use of hyaluronan as a treatment for osteoarthritis has been approved by the U.S. FDA in 1997 and has gained substantial industry share.
- The osteoarthritis segment is further classified into five-injection, three-injection, and single injections. The single hyaluronic acid injection is well received by the market despite higher treatment costs compared to its counterparts. Single injection offers higher convenience and reduces the number of hospital visits while reducing pain and adverse effects.
- The increasing geriatric population and rising cases of obesity are further expected to boost the industry growth over the forecast period. According to the American Society of Plastic Surgeons (ASAPS), dermal fillers are the most popular and nonsurgical injectable procedures, especially used for correcting soft tissue defects on the face.
- Hyaluronic acid-based dermal fillers are commonly used for aesthetic procedures, such as improving nasolabial folds, eye wrinkles, dark circles, scar remediation, and rejuvenation. Hyaluronic acid injections are easy to use, effective, and relatively less expensive, and these associated advantages are expected to drive growth during the forecast period.
Hyaluronic Acid Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
Industry players are involved in RD activities to introduce advanced and effective products. For instance, in June 2020, AbbVie announced the approval of a new hyaluronic acid product—Juvederm Voluma XC—indicated for improving chin profile in adults.
Some prominent players in the global hyaluronic acid market include
- Allergan
- Sanofi
- Genzyme Corporation
- Anika Therapeutics, Inc.
- Salix Pharmaceuticals
- Seikagaku Corporation
- F. Hoffmann-La Roche Ag
- Galderma Laboratories L.P.
- Zimmer Biomet
- Smith Nephew Plc
- Ferring B.V.
- Lifecore Biomedical, Llc
- HTL Biotechnology
- Shiseido Company, Limited
- Bloomage Biotechnology Corporation Limited
- LG Life Sciences Ltd (LG Chem.)
- Maruha Nichiro, Inc.
Order a free sample PDF of the Hyaluronic Acid Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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