Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The "Hyaluronic Acid Global Market Insights 2024, Analysis and Forecast to 2029, by Manufacturers, Regions, Technology, Application" report has been added to ResearchAndMarkets.com's offering.
The hyaluronic acid market has witnessed significant growth in recent years, driven by its diverse applications in industries such as pharmaceuticals, cosmetics, and food. Hyaluronic acid, a naturally occurring polysaccharide, is known for its remarkable ability to retain moisture, making it a sought-after ingredient in skincare products. Furthermore, its use in medical applications such as osteoarthritis treatment and eye surgery has propelled the market forward.
Market Size
As of 2023, the global hyaluronic acid market was valued at approximately USD 9 billion. With a projected compound annual growth rate (CAGR) of around 7% from 2024 to 2029, it is expected to reach about USD 13 billion by 2029. Factors contributing to this growth include increasing consumer awareness regarding skincare, rising geriatric population, and a growing demand for minimally invasive aesthetic procedures.
Share & Trends Analysis Report
By Product Type
The hyaluronic acid market can be segmented into various product types, including:
- High Molecular Weight (HMW) Hyaluronic Acid
- Low Molecular Weight (LMW) Hyaluronic Acid
- Hydrolyzed Hyaluronic Acid
Among these, HMW hyaluronic acid held the largest market share in 2023 due to its widespread use in dermal fillers and cosmetic products. LMW hyaluronic acid is gaining traction for its penetrative properties in skincare formulations.
By Key Players
The competitive landscape of the hyaluronic acid market includes key players such as:
- Allergan
- Galderma
- Revance Therapeutics
- Hyaluronic Acid Manufacturing Co.
- Fidia Farmaceutici
These companies are focusing on product innovation and strategic partnerships to strengthen their market position.
By Process
The hyaluronic acid market can also be categorized based on the manufacturing process:
- Extraction from Animal Tissues
- Microbial Fermentation
Microbial fermentation is anticipated to dominate the market due to its cost-effectiveness and reduced risk of disease transmission associated with animal-derived products.
By Application
In terms of application, the hyaluronic acid market is divided into:
- Dermatology
- Orthopedics
- Ophthalmology
- Others
The dermatology segment is expected to account for the largest market share owing to the rising popularity of skincare and anti-aging products.
By End-Use
The end-use industries for hyaluronic acid include:
- Pharmaceuticals
- Personal Care & Cosmetics
- Food & Beverages
The personal care and cosmetics sector is projected to witness substantial growth driven by the increasing demand for beauty and anti-aging products.
By Region
North America held the largest market share in 2023, primarily due to the presence of major players and high consumer awareness. However, Asia-Pacific is projected to exhibit the highest growth rate during the forecast period, driven by rising disposable income and demand for advanced cosmetic procedures.
Market News on Policy and Companies
In recent years, there have been numerous policy changes and advancements within the hyaluronic acid market. Regulatory bodies such as the FDA have been tightening guidelines around hyaluronic acid products, particularly in cosmetic applications. Moreover, companies are increasingly investing in research and development to create innovative product formulations that cater to consumer demands.
Allergan has recently launched a new line of dermal fillers that utilize an innovative cross-linking technology, enhancing the longevity of the product. Additionally, Galderma has expanded its hyaluronic acid portfolio to include products formulated specifically for Asian skin types, tapping into the lucrative Asian market.
Segment Forecasts (2024 - 2029)
Based on extensive market analysis, the following forecasts are anticipated for the hyaluronic acid market:
- Product Type: The LMW segment is expected to grow at a CAGR of 9% due to increasing demand in cosmetic and pharmaceutical applications.
- Application: The dermatology segment is predicted to retain the largest market share, reaching approximately USD 5.5 billion by 2029.
- Region: The Asia-Pacific market is projected to grow at a CAGR of 10% owing to rising consumer awareness in emerging markets.
In conclusion, the hyaluronic acid market is poised for substantial growth over the coming years driven by its diverse applications, increasing consumer demand for beauty and wellness products, and advancements in manufacturing technologies. Stakeholders in the market are advised to monitor trends closely and invest in innovative product development to maintain competitiveness in this dynamic landscape.
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Hyaluronic Acid Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Hyaluronic Acid by Region
8.2 Import of Hyaluronic Acid by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Hyaluronic Acid Market in North America (2019-2029)
Chapter 10 Historical and Forecast Hyaluronic Acid Market in South America (2019-2029)
Chapter 11 Historical and Forecast Hyaluronic Acid Market in Asia & Pacific (2019-2029)
Chapter 12 Historical and Forecast Hyaluronic Acid Market in Europe (2019-2029)
Chapter 13 Historical and Forecast Hyaluronic Acid Market in MEA (2019-2029)
Chapter 14 Summary For Global Hyaluronic Acid Market (2019-2024)
14.1 Hyaluronic Acid Market Size
14.2 Hyaluronic Acid Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Hyaluronic Acid Market Forecast (2024-2029)
15.1 Hyaluronic Acid Market Size Forecast
15.2 Hyaluronic Acid Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
- Anika Therapeutics
- Allergan
- Genzyme
- Shiseido
- Seikagaku
- Novozymes
- Contipro
- Galderma
- LG
- Humedix
- SciVision
- Bloomage
- Shanghai Qisheng
- Beijing Mengborun
- Haohai Biological
- Titan Biotech
- BioPlus Co.
For more information about this report visit https://www.researchandmarkets.com/r/d074ju
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