New York, USA, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Hyaluronic Acid Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Hyaluronic Acid Market Information by Grade, by Application, by End User, and Region - Forecast till 2027”, the market is expected to cross USD 20,144.59 million by 2027 at a CAGR of 6.77% during the forecast period 2020 to 2027.
Hyaluronic Acid Market Scope
Viscoelasticity, biocompatibility, hygroscopic, and moisture retention capacity are some of the key properties of hyaluronic acid. Hyaluronic acid acts as a shock absorber, lubricant, flow resistance & water balance regulator, and joint structure stabilizer owing to the said qualities.
Injectable hyaluronic acid helps bring down the appearance of wrinkles and fine lines, coupled with facial creases, providing lips and face framework, volume as well as structure. Injectable hyaluronic acid ensures instant and effective results.
Moreover, the natural aging process, smoking, pollution, and tobacco bring about a reduction in the amount of hyaluronic acid in human skin. As a result, products containing this ingredient see substantial demand among people.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 20,144.59 Million |
| CAGR | 6.77% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Grade, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing application of hyaluronic acid in cosmetic and personal care |
| Rising number of cosmetic surgeries |
Hyaluronic Acid Market Competitive Landscape:
The important firms in the hyaluronic acid industry are
- Allergan plc (Ireland)
- Symatese (France)
- Zhonglan Industry Co., Ltd (China)
- Altergon Italia Srl (Italy)
- Fidia Farmaceuticis.p.a. (Italy)
- Bioiberica S.A.U. (Barcelona)
- Kewpie Corporation's (Japan)
- Seikagaku Corporation (Japan)
- Anika Therapeutics, Inc. (US)
Hyaluronic Acid Market Dynamics:
Market Drivers:
The hyaluronic acid industry is constantly evolving, considering the rising uptake of aesthetic procedures across developed as well as developing countries. Hyaluronic acid’s escalating use in cardiovascular implants, like vascular grafts and stents for enhancing the compatibility as well as the mounting knowledge level about anti-aging items should further fuel the market expansion rate. The efficacy of hyaluronic acid-based products is working in its favor and is leading to its robust demand in the global market.
The exploding worldwide population with surging preference for aesthetic treatments and antiaging cosmetics has been quite favorable. Thanks to its unique viscoelastic as well as moisturizing characteristics along with low toxicity levels, hyaluronic acid is a common ingredient in various products. Emerging demand for minimally invasive solutions due to lower side effects, reduced pain, lesser postsurgical complications, and shorter recovery time also raises the demand for hyaluronic acid.
Owing to the vast unmet medical requirements across emerging nations like South Korea and China, the Asia Pacific is projected to offer lucrative opportunities to global companies. The burgeoning geriatric consumer base in China and Japan has benefitted the anti-aging product sector to a large extent. In addition, the strong influence of western beauty and grooming standards over the population in APAC could also elevate the market position.
Market Restraints:
The hyaluronic acid industry can witness slightly hampered growth in the years to come owing to the adverse effects associated with the treatment like itching and redness. The high price of products containing hyaluronic acid and the possibility of allergic reactions in some people can translate into a decline in demand.
Browse In-depth Market Research Report (161 Pages) on Hyaluronic Acid: https://www.marketresearchfuture.com/reports/hyaluronic-acid-market-7434
COVID 19 Analysis
Hyaluronic acid’s demand saw a major decline since has applications in only elective procedures, owing to COVID-19 restrictions, particularly in the early stages. Additionally, patients either postponed or opted out of procedures, even in the later stages owing to the high risk of infection. This negatively affected the worldwide industry, leading to a drop in the overall revenue
With that said, the ease of pandemic restrictions worldwide has led to a higher demand for injection-based elective procedures, which should work in favor of the hyaluronic acid industry post-pandemic.
Hyaluronic Acid Market Segmentation
By Application
Major applications of hyaluronic acid are aesthetics, osteoarthritis, pharmaceutical API, cosmetics, dietary supplements, ophthalmology, and more. It is likely that the osteoarthritis segment will witness the fastest growth over the forecast timeline since hyaluronic acid is highly useful in treating patients with the condition.
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By Grade
Grade-wise, the market segments are cosmetic grade, food grade, and pharmaceutical grade.
By End-User
End-users profiled in the market study include the pharmaceutical industry, food industry, cosmetic surgery clinics, dermatology clinics, etc.
Hyaluronic Acid Market Regional Insights
The North American market stands first out of all the regions, with Canada and the United States in the lead. Both the countries consist of a well-developed and thriving healthcare sectors in parallel to constant adoption of the latest technologies. The region is known for its early adoption of modern treatment lines pertaining to skincare, which is one of the vital reasons for the strong demand of hyaluronic acid. Other than this, the presence of a vast base of elderly population highly prone to a number of disorders like vesicoureteral reflux, cataracts and osteoarthritis also enriches the market value in the region. Soaring preference for minimally invasive cosmetic surgical procedures contributes immensely to the hyaluronic acid market in the region as well.
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Europe has taken the second lead in the global market, primarily backed by the large base of renowned companies based in United Kingdom, Spain, Italy, Germany, and France. Over the next few years, the European market for hyaluronic acid should perform exceptionally well, thanks to the surging focus on product innovation and the burgeoning cosmetic industry, which has strong support from the regulatory authorities. The region houses numerous developed countries that have well-developed infrastructure and is also known for its constant uptake of modern technologies with respect to cosmetic surgeries. Substantial per capita disposable income, escalating aesthetic procedures and the surge in medical tourism are also responsible for the striking market expansion in the region. The number of cosmetic clinics in France are mounting rapidly and can further fortify the market position in the years ahead.
The APAC market for hyaluronic acid should witness consistent growth in the following years, given the consistent innovations in terms of technology as well as healthcare services. Large-scale spending on research and development activities and expanding geriatric based in Japan and China have helped foster the sales of anti-aging items and services. Escalating knowledge regarding the benefits and use of hyaluronan bolsters its demand among consumers, while the consistent growth in the middle-class population with improving financial status should also enhance the market share in the next several years.
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