Market Research Future (MRFR) has published a cooked research report on the “Hyaluronic Acid Market” that contains information from 2018 to 2030. The Hyaluronic Acid Market is estimated to register a CAGR of 6.91% during the forecast period of 2022 to 2030.
MRFR recognizes the following companies as the key players in the global Hyaluronic Acid Market — Allergan (Ireland), Sanofi (France), Genzyme Corporation (US), Anika Therapeutics, Inc. (US), Seikagaku Corporation (Japan), F. Hoffmann-La Roche Ag (Switzerland), Galderma Laboratories L.P. (US), Zimmer Biomet (US), and Smith & Nephew Plc (UK)
The global Hyaluronic Acid Market is accounted to register a CAGR of 6.91% during the forecast period and is estimated to reach USD 20.5 billion by 2030.
Hyaluronic Acid is a naturally occurring substance found in the human body, particularly in the skin, joints, and eyes. It is widely used in the healthcare and cosmetic industries due to its moisturizing and lubricating properties. HA is commonly used in skincare products, dermal fillers, ophthalmic surgery, and joint treatments. The global market for Hyaluronic Acid has been growing steadily over the years. Factors driving the market growth include the increasing aging population, rising demand for minimally invasive cosmetic procedures, and growing awareness about skincare and anti-aging products.
The global Hyaluronic Acid Market has been segmented based Grade, Application, End User
The hyaluronic acid market segmentation, based on grade, includes cosmetic grade, pharmaceutical grade, and food grade. The cosmetic grade segment held the majority share in 2021 in respect to the hyaluronic acid market revenue. This is primarily owing to the high demand for the product as a cosmetic ingredient in various cosmetic and personal care products such as creams, lotions, gels, facial masks, lipstick, eyeliners, and others. However, the pharmaceutical grade segment emerged as the fastest-growing segment, during the assessment period. This is attributed to the extensive use of hyaluronic acid in the treatment of various diseases such as dry eye, osteoarthritis, urinary tract infection, bladder pain, and acid reflux, and its use as a biomaterial in heart regeneration.
The market segment of hyaluronic acid, based on application, includes aesthetics, osteoarthritis, pharmaceutical API, cosmetics, dietary supplements, ophthalmology, and others. The aesthetics segment dominated the market in 2021 in respect to the hyaluronic acid market revenue. This is due to the growing demand for minimally invasive and non-invasive cosmetic procedures, such as dermal fillers, among consumers. Hence, rising application of hyaluronic acid positively impacts the hyaluronic acid market growth.
The market segment of hyaluronic acid, based on end user, includes pharmaceutical industry, dermatology clinics, cosmetic surgery centers, and others. The dermatology clinics held the largest market share in 2021 with respect to the hyaluronic acid market revenue. This is owing to the advantageous properties of hyaluronic acid, making it suitable for dermatology clinics applications. Dermatologists are required to inject hyaluronic acid-based fillers, in order to make the skin appears firm during derma filter treatments. With the increasing prevalence of such treatments worldwide, the demand for the compound from the dermatology and cosmetics industry is projected to increase during the forecast period.
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The global Hyaluronic Acid Market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. North America Hyaluronic Acid held the largest market share in 2021. This is attributed to the presence of a sizeable base of the geriatric population, which is more susceptible to disorders, such as osteoarthritis, vesicoureteral reflux, and cataracts. Moreover, the growing demand for minimally invasive cosmetic surgeries is a significant factor contributing to the large share of North America. Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe Hyaluronic Acid market accounts for the second-largest market share due to the increasing aesthetic consciousness, rapid technological advancements, and shorter procedure time are among other factors driving the market in Europe. Further, the Germany market of hyaluronic acid held the largest market share, and the UK market of hyaluronic acid was the fastest growing market in the European region.
The Asia-Pacific market of hyaluronic acid is expected to grow at the significant growth rate during the forecast period. This is due to the increasing presence of high unmet medical needs in emerging economies, growing awareness about applications of minimally invasive techniques, and increasing disposable income. Moreover, China market of hyaluronic acid held the largest market share, and the India market of hyaluronic acid was the fastest growing in the Asia-Pacific region. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.
Key Findings of the Study