Patna, Aug. 02, 2021 (GLOBE NEWSWIRE) --
The hyaluronic acid market would foresee tremendous growth opportunities during the forecast period owing to its increasing applications such as in cosmetics as dermal fillers and for treatment of patients suffering from rheumatoid arthritis and osteoporosis. The adoption of hyaluronic acid across the cosmetic industry has increased due to its distinctive viscoelastic and moisturizing properties along with its low toxicity levels. Shorter recovery time is one of the major key factors attracting consumers towards this material and boosting the growth of the market. In addition, minimally invasive antiaging solutions have also highly impacted the growth of hyaluronic acid products due to shorter recovery time, lower pain, minimal adverse effects, and fewer post-surgical complications. However, a lack of awareness among common people and high costs would hinder the growth of the hyaluronic acid market. Further, ongoing rapid research and development would open up new areas and boost the growth of the market during the estimated period.
The hyaluronic acid market is segmented by application and geography. By application, the market is segmented into Dermal Fillers (scar treatment, lip enhancement, wrinkle correction treatment), Osteoarthritis, ophthalmic and vesicoureteral reflux. The osteoarthritis segment is further bifurcated into single injection segment, three injection segment, and five injection segment.
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By geography, the global hyaluronic acid market is classified into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The U.S., Canada, and Mexico are the countries that have been further studied and analyzed independently across North America. Germany, the UK, France, Italy, and Spain are separately studied across Europe; whereas China, Japan, India, Australia, South Korea, and Singapore are under the Asia Pacific. The remaining potential regions such as the Middle East, South & Central America, and Africa are covered under the Rest of the World (RoW). North America is the leading market for hyaluronic acid products market as hyaluronic acid is used here in the form of viscosupplements and dermal fillers for the treatment of osteoarthritis. The Asia Pacific is expected to witness the fastest growth during the forecast period and the growth is attributed to the increasing geriatric population across Japan and China primarily providing a huge customer base for anti-aging products as well as services.
People suffering from orthopedic disorders find Hyaluronic acid supplements useful in the treatment of osteoarthritis. Osteoarthritis is the largest segment among different application segments due to the rise in obesity cases coupled with a surge in cases of osteoarthritis and joint pain. Joint pain increasing with increasing age in one or the other part of the body is one of the most critical illnesses faced by people across all geographies. This has also boosted the growth of hyaluronic injections as the treatment. The use of hyaluronic acid across the cosmetics industry is also on rise due to the increasing concern for aging skin, desire to look young, and other aligned skin problems. Hyaluronic acid based dermal fillers is in trend due to the fast result and fewer side effects. The U.S. cosmetic industry is one of the most prospering and mature markets, in terms of product availability and innovations. Furthermore, the demand for hyaluronic acid products market among the young generation is further expected to flourish to deal with skin-related products. The United States hyaluronic acid market is expected to be primarily be driven by the “anti-aging” section.
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The rise in the number of patients for rheumatoid arthritis and osteoporosis is attracting the leading manufactures to manufacture hyaluronic acid-based supplements and injectables. Thus, the rise in the cases of joint-related issues and bone problems is projected to boost the hyaluronic acid market during the forecast period.
There are many prominent players across the hyaluronic acid market thereby making the market fragmented. Some of the major players are Seikagaku Corporation, Salix Pharmaceuticals, Zimmer Holdings Inc., Galderma S.A, Sanofi (Genzyme), Zimmer Holdings Inc., F. Hoffmann-La Roche Ltd., Allergan Inc., Ferring Pharmaceuticals, Inc., Anika Therapeutics Inc., Ferring Pharmaceuticals, Inc., and Smith & Nephew Plc. The significant strategies adopted by the key players of the hyaluronic market are mergers & acquisitions, product innovations, product launches, and partnerships. Ongoing research & development of companies in collaborations with universities and research institutions would further enhance the growth rate of the hyaluronic acid products market.
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