San Francisco, California, Feb. 11, 2015 (GLOBE NEWSWIRE) -- Global hyaluronic acid market is expected to reach USD 10.80 billion by 2020, according to a new study by Grand View Research, Inc. Growing incidence rates of gingivitis, ulcers, osteoarthritis and geriatric population base is expected to serve this market as high impact rendering drivers. Hyaluronic acid's novel applicability in the fields of tissue engineering and regenerative medicine is expected to present the market with lucrative future growth opportunities.
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Five-injection was the leading product segment, accounting for over 35.0% of the market in 2013. High usage rates associated with this treatment is one of the primary factors attributing to its large share. However, the market is expected to experience a growth in demand for low risk and cost effective treatments. Consequently, the single-injection cycle is expected to grow at an attractive rate over the next six years. The segment, on account of its advantages offers enhanced patient convenience and is therefore, expected to witness improved compliance.
Further key findings from the study suggest:
- Dermal fillers were the largest application segment and its market was valued at over USD 2.0 billion in 2013. Recent improvements in the field of anti-aging and high compatibility of hyaluronic acid with the human body are some factors expected to drive segment growth during the forecast period.
- North America was the largest regional market in 2013 majorly on account of growing incidence rates of target diseases, geriatric population base and the presence of high patient awareness levels pertaining to anti-aging procedures.
- Asia Pacific is identified as the most lucrative region of this market. Growing demand for medical tourism and rapidly improving healthcare infrastructure in the emerging markets of India and China are some factors attributing to its rapid growth. Presence of high patient unmet needs and improving economic conditions in the region is also expected to assist manufacturers in capitalizing on the available untapped opportunities.
- Some key market players of the hyaluronic acid market include Anika Therapeutics Inc., F. Hoffmann-La Roche Ltd., Allergan Inc, Zimmer Holdings Inc, Ferring Pharmaceuticals Inc., Sanofi (Genzyme), Zimmer Holdings Inc and Salix Pharmaceuticals.
- Manufacturers in an attempt to ensure sustainability engage in extensive R&D aimed at developing cost effective and technologically advanced products. For instance, the introduction of a pill version of hyaluronic acid and the re-launch of hyaluronic acid serum with additional vitamin infusion
More information about Hyaluronic Acid Market: http://www.grandviewresearch.com/industry-analysis/hyaluronic-acid-market
For the purpose of this study, Grand View Research has segmented the global hyaluronic acid market on the basis of product, application and region:
Global Hyaluronic Acid Product Outlook
(Revenue, USD Billion, 2012 - 2020)
• Single injection
• Three injection
• Five injection
Global Hyaluronic Acid Application Outlook (Revenue, USD
Billion, 2012 - 2020)
• Osteoarthritis
• Ophthalmic
• Dermal fillers
• Vesicoureteral reflux
Hyaluronic Acid Regional Outlook (Revenue, USD Billion,
2012 - 2020)
• North America
• U.S.
•
Canada
• Europe
• UK
•
Germany
• Asia Pacific
•
Japan
•
China
• RoW
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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