Lewes, Delaware, May 09, 2024 (GLOBE NEWSWIRE) -- The Global Hyaluronic Acid Market is projected to grow at a CAGR of 8.7% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 11.04 Billion in 2024 and is expected to reach USD 18.75 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Hyaluronic Acid Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Allergan, Inc., Anika Therapeutics, Inc., Ferring Pharmaceuticals Inc., Fidia Farmaceutici S.p.A., Galderma S.A., Merz Pharma GmbH & Co. KGaA, Sanofi, Seikagaku Corporation. |
| SEGMENTS COVERED | By Application, By Source, By End-User, By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Hyaluronic Acid Market Overview
Growing Demand for Anti-Aging Cosmetics: The growing demand for anti-aging skincare products is fueling the Hyaluronic Acid Market. The product's capacity to retain moisture and increase skin volume improves its effectiveness, making it attractive to discerning consumers who desire a more youthful appearance. The surge in demand for cosmetics enriched with hyaluronic acid is driving sales and contributing to the expansion of the market.
Expanding Applications in Medical Procedures: The diverse uses of hyaluronic acid in medical operations, namely in the treatment of osteoarthritis and ocular surgeries, contribute to the growth of the market. Due to its biocompatibility and lubricating characteristics, it is essential in viscosupplementation and intraocular lens implants, which has led to increased demand from healthcare practitioners and patients.
Rising Awareness of Joint Health: The increasing prevalence of joint-related diseases in the elderly population has led to a growing awareness of the effectiveness of hyaluronic acid in reducing joint discomfort and enhancing mobility. The demand for orthopedic treatments based on hyaluronic acid is increased, providing patients with non-invasive options instead of traditional therapies and operations, therefore promoting the expansion of the market.
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High Production Costs: The Hyaluronic Acid Market encounters the obstacle of exorbitant production expenses as a result of intricate extraction procedures and restricted accessibility of appropriate raw materials. This imposes limitations on producers' profit margins and could result in inflated product prices, thus impeding market entry and expansion.
Regulatory Hurdles in Key Regions: The strict restrictions that control the utilization and dissemination of hyaluronic acid in pharmaceuticals and cosmetics create substantial obstacles for companies trying to enter the market in important regions. Adhering to various regulatory frameworks necessitates significant investments in research and development, which in turn leads to delays in product introductions and hinders the expansion of the industry.
Limited Raw Material Availability: The Hyaluronic Acid Market has the challenge of limited access to raw materials, specifically high molecular weight hyaluronic acid. Relying on animal-derived sources worsens supply chain difficulties, resulting in inconsistent production and shortages, which limits the potential for market expansion.
Geographic Dominance:
The Hyaluronic Acid Market has varying geographical domination, with Asia Pacific emerging as a prominent participant owing to its strong cosmetic and pharmaceutical sectors. North America is a close follower in terms of healthcare expenditure and has an increasing elderly population. Europe has a substantial market share due to the progress made in medical technologies. These regions exert dominance as a result of their robust research and development capabilities and advantageous regulatory regimes, which significantly influence the global market landscape.
Hyaluronic Acid Market Key Players Shaping the Future
Major players, including Allergan, Inc., Anika Therapeutics, Inc., Ferring Pharmaceuticals Inc., Fidia Farmaceutici S.p.A., Galderma S.A., Merz Pharma GmbH & Co. KGaA, Sanofi, Seikagaku Corporation. and more, play a pivotal role in shaping the future of the Hyaluronic Acid Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Hyaluronic Acid Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Hyaluronic Acid Market into Application, Source, End-User, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Hyaluronic Acid Market, please Contact Verified Market Research®.
- Hyaluronic Acid Market, by Application
- Dermal Fillers
- Ophthalmic Surgery
- Osteoarthritis Treatment
- Wound Healing
- Hyaluronic Acid Market, by Source
- Animal-derived Hyaluronic Acid
- Microbial Fermentation
- Hyaluronic Acid Market, by End-User
- Cosmetics and Personal Care
- Medical and Healthcare
- Nutraceuticals and Dietary Supplements
- Hyaluronic Acid Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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