New York, March 29, 2023 (GLOBE NEWSWIRE) -- The worldwide Hyaluronic Acid Market will exceed USD 13.9 billion by 2032, up from USD 6.8 billion in 2022, with an anticipated Compound Annual Growth Rate (CAGR) of 7.7% from 2023 to 2032. Hyaluronic acid is a naturally found substance in cells of the human body. It is a part of chemicals and materials used in the cosmetics and personal care industry. Hyaluronic acid is mainly present in high concentrations at joint fluids and eye sockets. It acts as a lubricant in the sites at which it is present. Due to its properties like lubrication and moisturizing, it is widely popular in the pharmaceutical, healthcare, and cosmetics industries. It is also used in many surgeries and treatments like cataract surgery and skin hydration. Hyaluronic acid is also used to treat mouth sores by applying the hyaluronic acid in gel and rinse form.
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Key Takeaway:
- By Type, hydrolyzed hyaluronic acid accounted for the largest share of revenue in 2022.
- By Application, osteoarthritis dominated the global hyaluronic acid industry, accounting for over 43.8% of total revenue in 2022.
- By End-Use, the personal care segment held the major share in 2022.
- In 2022, North America dominated the market with the highest revenue share of 42.4%.
- Europe held the second-largest revenue share in 2022.
- Asia-Pacific will grow at a significant CAGR from 2023-2032.
The hyaluronic acid market is expected to develop because of the aging population and the introduction of technologically superior products. The growing desire for minimally invasive surgical treatment and the need for quicker effects are, in all likelihood, to force the boom of the hyaluronic acid industry over the forecast period. Growing awareness, the aging population, the offering of low-cost remedies and products, and technological advances are a number of elements driving the growth of the hyaluronic acid industry
Factors affecting the growth of the Hyaluronic Acid industry?
There are several factors that can affect the growth of the hyaluronic acid industry. Some of these factors include:
- Aging population: The increasing awareness of cosmetic and personal care products among the aging population is driving the growth of the hyaluronic acid market.
- Massive adoption in Cosmetic Industry: Increasing adoption of nonsurgical cosmetic procedures like hyaluronic acid injectables and botox are boosting the growth of the hyaluronic acid market.
- New Developments: New hyaluronic acid product research and development from the manufacturers is expected to propel the hyaluronic acid market during the forecast period.
- Heavy use in the healthcare industry: Increasing numbers of patients with osteoporosis and rheumatoid arthritis are forcing manufacturers to produce hyaluronic acid-based nutritional supplements and injectables. These elements are expected to boost the hyaluronic acid market significantly during the forecast period.
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Top Trends in Global Hyaluronic Acid Market
Hyaluronic acid supplements are very helpful for people suffering from orthopedic conditions such as osteoarthritis, which is why hyaluronic acid is used in many treatments and surgeries. It Relieves pain associated with a joint in the patients.
The hyaluronic acid market primarily benefits from an aging population that is highly susceptible to bone damage and fractures. The elderly population is one of the major target segments for hyaluronic acid-containing products. Rising numbers of patients with osteoporosis and rheumatoid arthritis are pushing manufacturers to produce hyaluronic acid-based nutritional supplements and injectables. It is projected to grow the hyaluronic acid market significantly during the forecast period.
Market Growth
Hyaluronic acid is known for its skin benefits, like soothing dry skin and reducing the appearance of redness, wrinkles, and fine lines. Hyaluronic acid retains moisture in skin cells and acts as an excellent moisturizer. It improves skin hydration and collagen production, helps maintain skin elasticity, and fights free radicals. It functions as a moisturizer, a category of hygroscopic skincare ingredients that absorb moisture from the environment. With rising consumer demand for anti-aging and multi-functional personal care products, many personal care product manufacturers are combining various multi-functional ingredients into one product. These factors are boosting the growth of the hyaluronic acid market.
Regional Analysis
North America covers the majority of the hyaluronic acid market with 42.4%. North America is expected to dominate the hyaluronic acid market, with the United States being the largest contributor. High disposable income and an aging population are expected to propel this market in this region.
The European hyaluronic acid market has the second largest market share, owing to the increasing beauty awareness, rapid technological advancements, and shortened surgical times that are driving the European market. Furthermore, the German hyaluronic acid market accounted for the largest market share, while the UK hyaluronic acid market was the fastest-growing market in the European region.
The Asia-Pacific hyaluronic acid market is anticipated to grow at a significant CAGR during the forecast period. This is due to growing medical needs in the region. The growing awareness of minimally invasive techniques as well as increasing disposable income are boosting the hyaluronic acid market in the region. Moreover, the Chinese hyaluronic acid market held the largest market share. While the Indian hyaluronic acid market grew at the fastest rate in the Asia Pacific region. Asia Pacific is therefore expected to register the highest CAGR during the forecast period.
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Competitive Landscape
The key market players in the hyaluronic acid industry are Allergan, Anika Therapeutics Inc., Sanofi S.A., Genzyme Corporation, Salix Pharmaceuticals, Seikagaku Corporation, Galderma SA, Zimmer Holdings, Inc., Smith & Nephew Plc, Ferring Pharmaceuticals, Inc., F. Hoffmann-La Roche Ag, etc.
DSM (Netherlands), a global science-based health, nutrition, and ingredients company, combines unique competencies in the life sciences. DSM's products and services are used in a variety of markets and applications around the world to support healthier, more sustainable, and more enjoyable lifestyles. In March 2021, Royal DSM, a science-based company working in the fields of nutrition, wellness, and sustainable living, launched different forms of hyaluronic acid, which improves skin hydration and strengthens the protective barrier. Low molecular weight HYA-ACT locks in moisture for extra hydration and soothes reddened skin. Ultra-low molecular weight HYA-ACT XS provides continuous, intense hydration, moisturizing, plumping, and tightening fine lines.
Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 6.8 Billion |
| Market Size (2032) | USD 13.9 Billion |
| CAGR (from 2023 to 2032) | 7.7% |
| North America Revenue Share | 42.4% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
With rising aesthetic awareness and an aging population, cosmetic treatments such as botox, skin fillings, and plastic surgery are on the rise. These processes need large amounts of hyaluronic acid due to the compound's ability to provide effective augmentation of specific anatomical areas. Combined administration of surgical methods can serve as an effective tool to maximize a comprehensive treatment regimen. These factors, therefore, project an increase in demand for the compounds that will be the major drivers of the hyaluronic acid market over the forecast period.
Hyaluronic acid-based dermal fillers are a rapidly growing, noninvasive cosmetic process across the world. These are common cosmetic procedures for facial repair, facial volume restoration, and aesthetic enhancement. They are very versatile and are used for fine lines and wrinkles. Additionally, it is used in anti-aging products to treat acne, wrinkles, and scars and to beautify lips, cheeks, and chin. The aging population has increased the need for noninvasive surgical processes. The adoption of hyaluronic acid-based dermal fillers reduces the usage of routine surgery. The cost of treatment for this process is minimal, and this factor is boosting the growth of the hyaluronic acid market.
Market Restraints
The high cost of the compound, along with the complex manufacturing process, act as a restraint to the growth of the hyaluronic acid market. This limits the production of the active ingredient by smaller manufacturers and makes it difficult for new players to enter the market. Increase. This, in turn, greatly affects the profitability of the industry. In addition, some side effects, such as itching and pain during treatment, may oppose the use of the formulation. Thus, such factors are likely to hinder market growth in the coming years. Physicians are reluctant to use cheap illicit products because of the risks involved. Conversely, especially in the hyaluronic acid segment, illegal products offered in the dermal filler segment increased price competition. Larger companies offering higher unit prices may compete by offering different product bundles and selling products in different product categories. And polymer manufacturers must advertise their products. The products available in the segments are different. Manufacturers focus more on the thickness of the material used for dermal fillers than on cost.
Market Opportunities
The skin care industry is one of the fastest-changing industries, with highly innovative technologies that improve the general treatment of the skin and other parts of the body. Significant consumer engagement has increased the heavy investment and funding in hyaluronic acid-based skincare products. The introduction of advanced and innovative technologies developed in hyaluronic acid-based products has increased the demand for hyaluronic acid in the market.
Hyaluronic acid-based skin care products rely on hyaluronic acid to correct imperfections, balance volume, and glorify specific areas of the face. It is expected to provide opportunities for the growth of the hyaluronic acid market.
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Report Segmentation of the Hyaluronic Acid Market
Type Insight
Based on type, the hyaluronic acid market is classified into sodium Hyaluronate, sodium acetylated hyaluronic acid and hydrolyzed hyaluronic acid. From all the types, hydrolyzed hyaluronic acid dominated the market by accounting for the major revenue share in 2022. The growth of this segment is attributed to the rising use of it in various industries like personal care, cosmetics, and pharmaceuticals. Skincare and personal care are among the most important industries with massive use of hydrolyzed hyaluronic acid. Many consumers are interested in using skin care products that can improve the appearance of their skin. This type of hyaluronic acid is commonly used in skin care products because it is easily absorbed into the skin, providing hydration and a youthful appearance. The demand for hydrolyzed hyaluronic acid is driven by drug delivery and wound healing. The potential for use as a food additive has also increased significantly in the pharmaceutical and food industries. These factors significantly accelerated the revenue growth of the hydrolyzed hyaluronic acid segment in the hyaluronic acid market.
Application Insight
The hyaluronic acid market is segmented into aesthetics, cosmetics, osteoarthritis, pharmaceutical, and ophthalmology ingredients on the basis of application. Among all the applications, osteoarthritis dominated this market by accounting for over 43.8% of the total revenue share in 2022. The industry is anticipated to grow due to the increasing aging population and rising preference for minimally invasive surgery. Nearly 90% of Viscosupplement prescriptions are for treating knee osteoarthritis. Both corticosteroids and hyaluronic acid injections can be used to treat osteoarthritis. According to the International Osteoarthritis Research Society (OARSI) in the United States, topical supplements are slightly more effective than corticosteroids.
Recent Development of the Hyaluronic Acid Market
- In February 2022, Allergan received US Food and Drug Administration (FDA) approval for JUVÉDERM VOLBELLA XC to improve the orbit of 21 years and older. This allowed the company to expand its beauty product portfolio in the US market.
- In March 2021, Poundland launched a new anti-aging retinol and hyaluronic acid skin care profile, expanding up to 6 range. The required ingredient is said to be a driving force for fighting early signs of aging and providing superior hydration
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Market Segmentation
Type
- Sodium Acetylated Hyaluronic Acid
- Sodium Hyaluronate
- Hydrolyzed Hyaluronic Acid
Application
- Aesthetics
- Osteoarthritis
- Cosmetics
- Ophthalmology
- Pharmaceutical Ingredients
End-User
- Personal Care
- Cosmetics
- Food
- Pharmaceuticals
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players:
- Allergan, Inc.
- Sanofi S.A.
- Genzyme Corporation
- Anika Therapeutics, Inc.
- Salix Pharmaceuticals
- Seikagaku Corporation
- F. Hoffmann-La Roche AG
- Galderma Laboratories L.P.
- Zimmer Biomet
- Smith & Nephew Plc
- Bioxis Pharmaceuticals
- Other Key Players
Related Reports:
- Hyaluronic acid products market was valued at USD 6.8 Bn, and this market is estimated to reach USD 14 billion registering the highest CAGR of 7.7% during the forecast period of 2023 and 2032.
- Knee hyaluronic acid injections market is projected to reach a valuation of USD 3,094.90 Mn by 2031 at a CAGR of 5.00%, from USD 1,900.00 Mn in 2021.
- Cosmetic grade hyaluronic acid market was valued at USD 807.6 million in 2015, growing at a CAGR of 12.4%
- Food-grade hyaluronic acid market was USD 9.56 Billion in 2022 and is expected to register a revenue CAGR of 7.5% during the forecast period.
- Generative AI in Fashion Market to be valued at USD 1,481 Mn by 2032, from USD 69 Mn in 2022, with a CAGR of 36.9%.
- Collateral Ligament Stabilizer System Market size is expected to be worth around USD 3394.8 million by 2032 from USD 1808.5 million in 2022, growing at a CAGR of 6.5% during the forecast period from 2023 to 2032.
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