ID: MRFR/HC/5965-CR | August 2021 | Region: Global | 161 pages
The hyaluronic acid market is expected to cross USD 20,144.59 million by 2027 at a CAGR of 6.77%.
Hyaluronic acid, also called hyaluronan, is an anionic, nosulfated glycosaminoglycan distributed widely throughout connective, epithelial, and neural tissues.Hyaluronic acid is well known for its skin benefits, especially alleviating dry skin, reducing the appearance of fine lines and wrinkles, and speeding up wound healing. It can also help relieve joint pain in people with osteoarthritis.
The growth of the global hyaluronic acid marketis driven by the factors such as the increasing application of hyaluronic acid in cosmetic and personal care products. In addition, extensive research &development associated with hyaluronic acid create a lucrative opportunity for the market. However, the availability of alternatives3islikely to restrain the market growth.
The COVID-19 pandemic has affected the hyaluronic acid market dramatically. There are significant disturbances to the demand for the commodity across different end-use markets, with the global supply chains being disrupted and the manufacturers' hierarchy being modified. The lack of demand has rapidly caused an oversupply situation in the global chemical industry.
COVID-19 impacted the cosmetics market significantly, resulting in a decline of around 8% in the first two quarters, according to L'Oréal’s cosmetics market report 2020. However, according to the same report, the presence of e-commerce platforms helped soften the impact to some extent, with online cosmetic sales growing by around 40% in 2020 globally. The countries and various industries are trying to deal with the challenges caused by the novel coronavirus (COVID-19). Another industry surrounded by the uncertainty of the impact of the COVID-19 is medical aesthetics. Social distancing requirements and sharp cuts in consumers'discretionary income during the COVID-19 crisis have hit the medical aesthetics business hard. Many practices and medical spas are facing liquidity challenges. However, according to a report published by the American Society of Plastic Surgeons in April 2021, from a survey of 1000 women in the US, 70% of them were looking forward to having a cosmetic surgical procedure or minimally invasive procedure post-COVID-19. This demand shall help in the recovery of the market as the effects of COVID-19 waver off.
Hyaluronic acid is well known for its skin benefits, such as alleviating dry skin, reducing the appearance of fine lines, wrinkles, redness, and dermatitis. Hyaluronic acid helps to retain over 1,000 times its weight in water within the skin cells, making it an excellent moisturizer. It helps improve skin hydration and production of collagen, fight free radicals, and maintain skin elasticity. It also acts as a humectant, a category of hygroscopic skincare ingredient, which draws moisture from the surroundings.
A person loses collagen and hyaluronic acid naturally as he/she ages, and the skin becomes dehydrated easily. Climatic conditions, ultraviolet radiation, and pollution cause tiny breaks in the protective skin barrier, allowing water to escape, which increases the demand for hyaluronic acid. Hyaluronic acid supplements prevent water loss, thus giving the body an extra amount of hyaluronic acid to incorporate into the skin. An average dose of 120–240 mg per day for at least one month can help to increase the moisture of the skin significantly. It is widely used in personal care and cosmetic products such as facial creams, masks, serums, moisturizers, lipstick, eye shadow, foundation, shampoo, hair conditioner, styling gel, and others.
Some of the substitutes for hyaluronic acid available in the market include rose oil, glycerine, tamarind extract, senna plant extract, and tremella mushroom extract. Rose oil is a natural substitute for hyaluronic acid. It is extremely hydrating and increases the permeability of the skin. Besides making the skin soft, supple, and plump, it also facilitates the absorption of skincare products into the skin, which consequently enhances the skin texture. Rose oil also acts as an anti-inflammatory agent due to its vitamin-packed properties and thus has theadded benefit of soothing redness.
Glycerine, much like hyaluronic acid, acts as a humectant, i.e., they attract and trap water. Glycerine, having a smaller molecular structure, gets absorbed deep into the skin while hyaluronic acid having a larger, molecular structure stays on the skin, making a layer-like structure. According to a report published in Healthline in 2019, glycerine was found to be a better humectant than hyaluronic acid as well. However, it must be used in correct proportions as usedin high concentrations may dry the skin.
According to an article published by Arianna Fallacara, Erika Baldini, Stefano Manfredini, and Silvia Vertuani in the MDPI journal in June 2018, hyaluronic acid is being studied across a variety of research areas. Hyaluronic acid and its derivatives are being used alone or in combination with other substances to develop pro-drugs, surface-modified liposomes, nanoparticles, microparticles, hydrogels, and other drug carriers. Hydrogels prepared from hyaluronic acid and theirchemical derivatives are 3D polymeric networks. They can be used in topical delivery of cells and many active ingredients, such as anti-inflammatories, anti-bacterial, antibodies, and proteins in general.
Supply Chain Analysis
The major stages in the supply chain are raw material suppliers, hyaluronic acid producers, distribution channels, and end users.
Microbial fermentation of hyaluronic acid is a new technique widely adopted nowadays, wherein hyaluronic acid is produced through Streptococcus zooepidemicus. The methodinvolves lower production costs and environmental pollution. The raw materials used during the fermentation of streptococci strain include peptone, glucose, yeast extract, as well as all the non-animal sources.
The distribution channel is a route through which goods and services from producers arrive at the intended consumer. Distribution channels can be short or long, depending on the number of intermediaries necessary to deliver a product or service. The distribution channel comprises distributors, suppliers, wholesalers, and e-commerce. The distributors are companies engaged in short- and long-term sales agreements with the end-use industries.The major end users of hyaluronic acid are dermatology clinics and cosmetic surgery centers, personal care, pharmaceutical, food industries, and others.
Hyaluronic acid is used in cosmetics due to its moisturizing and film-forming properties. It enhances the appearance of dry or damaged skin by reducing flaking and restoring suppleness, thereby reducing the appearance of wrinkles,fine lines, redness, and dermatitis. Hyaluronic acid is also used to thicken the aqueous (water) portion of cosmetics and personal care products.
Pharmaceutical grade hyaluronic acid is used as a lubricating and moisturizing agent, limiting photo-aging, enhancing drug efficacy, tissue engineering, wound dressing applications, and promoting healing of the corneal and conjunctival injury. It is used in eye drops, eye lotions, and contactless solutions. Oral pharmaceutical preparations containing hyaluronic acid repair damaged mucous membrane or cartilage. It is also in intra-articular injection for joint pain and osteoarthritis.
The sodium salt of hyaluronic acid is used as a common ingredient in beverages, jelly, dairy products, cookies, candies, ice cream, among others. Food grade hyaluronic acid has a medium molecular weight, which is most suitable for internal support and supplementation compared to high molecular weight hyaluronic acid.
Global Hyaluronic Acid Market Share (%), by Grade, 2020
Source: MRFR Analysis
Hyaluronic acid is used to create a plumping effect. Dermatologists inject hyaluronic acid-based fillers to make the skin look firm. Botox and dermal filler treatments are commonly used in plastic surgeries. Women majorly undertake these surgeries to enhance their appearance. The different types of surgeries are facelift, skin resurfacing, and blepharoplasty among older women.
Hyaluronic acid products are used for the treatment of knee osteoarthritis (OA). The hyaluronic acid segment is likely to witness considerable market growth in the near future as it is a cost-effective and beneficial solution in pain relief. Knee osteoarthritis is one of the major causes of disability. Knee osteoarthritis is one of the most common orthopedic disorder and leading causes of disability among the geriatric population.
Hyaluronic acid as an Active Pharmaceutical Ingredient (API) is used to treat various joint disorders. The increasing prevalence of diseases and the growing geriatric population are expected to fuel the demand for pharmaceutical API in the market during the forecast period. According to the UN, the geriatric population is growing dramatically in countries such as Italy, the US, Japan, Germany, and Portugal. Europe has the largest aging population, which has increased the medical expenditure in the region.
Hyaluronic acid has significant skin benefits, such as reducing the appearance of fine lines, alleviating dry skin, wrinkles, redness, and dermatitis. It is widely used in personal care and cosmetics products such as facial creams, masks, serums, and moisturizers. Changing social preferences toward one's appearance and personality have increased the demand for healthy and glowing skin.
Hyaluronic acid helps to prevent aging-related health conditions. The standard proportion of hyaluronic acid required in a human body decreases with age, which increases the need for hyaluronic acid in dietary supplements. It is often used in animal dietary supplements, specifically for horses, to treat knee osteoarthritis. Further research is also going on for oral hyaluronic acid supplements for dogs.
Hyaluronic acid is used in surgeries as well as medicines, which deals with the diagnosis and treatment of eye disorders. It is used in the form of face cream, eye drops, and serums. It helps to cure dryeyes. It is found naturally in the skin, eyes, and joints, which function as lubricants in joints and moisture for the eyes.
The high demand for hyaluronic acid in animals and humans has forced industrial manufacturers to increase the production capacity. The established market players are highly contributing toward research and development of new hyaluronic acid new applications in the medical and cosmetic industries, in areas such as tissue engineering, drug delivery, etc.
By End User
Hyaluronic acid is used for the treatment of osteoarthritis and dry eye. It exhibits wound healing abilities in abrasions, post-operative scars, second- and third-degree burns, pressure sores, and external skin injuries. Additionally, it can be used for the prevention of bladder pain and urinary tract infection.
The use of hyaluronic acid in dermatology clinics & cosmetic surgery centers is a major driver of the global hyaluronic acid market. It is used as a dermal filler and lip filler in cosmetic surgeries. The increasing demand for these surgeries can be attributed to the impacts of media, fashion, and other cultural scenarios.
Beverages, jelly, dairy products, cookies, candies, ice creams, and others use hyaluronic acid as a common ingredient. The increasing demand for various dairy products such as milk, cheese, yogurt, and others across the globe has resulted in the growth of the global hyaluronic acid market.
Hyaluronic acid is widely used in a broad range of personal care & cosmetics products such as creams, emulsion, essence, lotions, gel, facial mask, lipstick, eye shadow, foundation, shampoo, hair conditioner, styling gel, hair restorer, body wash, and others.
The others segment of the global hyaluronic acid market includes its miscellaneous use in the prevention and treatment of symptoms related to connective tissue disorders such as fractures, hernias, glaucoma, keratoconus, temporomandibular joint, and vocal cord repair.
Global Hyaluronic Acid Market Share (%), by Region, 2020
Source: MRFR Analysis
The market in North America is expected to witness significant growth because of the high demand for the product in the pharmaceutical industry. The presence of a large pharmaceutical base in the US is a key driver for the growth of the regional market. According to the European Federation of Pharmaceutical Industries & Association (EFPIA), North America accounted for 48.7% of world pharmaceutical sales in 2019.
According to the EFPIA, Europe accounted for 22.9% of the overall pharmaceutical sales in 2019. In 2019, Europe invested an estimated USD 45,786 million in pharmaceutical R&D activities. The region produced pharmaceutical products worth USD 335,769 and exported products worth USD 579,965 million in 2019. Moreover, according to Cosmetics Europe (European trade association), Europe is the largest market for cosmetics and personal care products. A few countries such as Germany, France, the UK, Poland, and the UK hold the major market share in the region.
The growth of the pharmaceutical industry in the Asia-Pacific region is a prime factor driving the demand for the hyaluronic acid market. Countries such as China, India, and Japan are major contributors to the market growth. India emerged as the fastest growing country with a CAGR of 9.86% during the forecast period. According to the Indian Brand Equity Foundation, the Indian pharmaceutical industry is expected to register a CAGR of 22.4% and reached USD 55 billion in 2020. In addition, generic drugs hold the largest market share in the Indian pharmaceutical industry, followed by counter medicines and patented drugs.
Latin America has significant growth in the aging population. For instance, in 2018, the senior citizen population increased up to 71 million in this region, which is estimated to double by 2035. An increase in the aging population is expected to surge chronic diseases, positively impacting the hyaluronic acid market. The countries such as Chile, Peru, and Colombia are witnessing the highest healthcare expenses, registering a CAGR of 3.4% per year.
The Middle East & Africa is expected to register a CAGR of 4.67% during 2021–2027. The segment accounted for USD 800.75 million in 2020 and is expected to reach USD 1,104.82 million by 2027. The high prevalence of Non-communicable Diseases (NCDs), growing aging population, and increasing penetration of health insurance are some of the primary factors boosting the growth of the healthcare market in the Middle East & Africa.
The global hyaluronic acid market is characterized by the presence of tier-1 and tier-2 companies. The market is highly competitive, with all the players competing to gain maximum market share. High investment in research & development of hyaluronic acid and limited government approval and license increases the intensity of rivalry among the players.
The growth of the market players is dependent on market and economic conditions and government regulations. Thus, the players should expand their distribution network to meet the demand and enhance their services. Allergan (Ireland), Contiproa.s. (Germany), Symatese Group (France), Zhonglan Industry Co., Ltd (China), Altergon Italia SRL (Italy), Fidia FarmaceuticiS.p.a (Italy), BioibericaS.A.U. (Spain), Kewpie Corporation (Japan), Seikagaku Corporation (Japan), and Anika Therapeutics Inc. (US) are the major companies in the global market at present, which are competing in terms of quality, price, and availability.
List of Key Companies Covered in this Report:
Scope of the Report & Segmentation
Global Hyaluronic Acid Market, by Grade
Global Hyaluronic Acid Market, by Application
Global Hyaluronic Acid Market, by End User
Global Hyaluronic Acid Market, by Region
The report contains:
|Market Size||2027 USD 4,510.12 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type,Application,and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America and the Middle East, and Africa|
|Key Vendors||Allergan plc (Ireland), Contiproa.s. (Czechia), Symatese (France), Zhonglan Industry Co., Ltd (China), Altergon Italia Srl (Italy), Fidia Farmaceuticis.p.a. (Italy), Bioiberica S.A.U. (Barcelona), Kewpie Corporation's (Japan), Seikagaku Corporation (Japan), and Anika Therapeutics, Inc. (US)|
|Key Market Opportunities||Extensive research and development associated with hyaluronic acid|
|Key Market Drivers||Increasing application of hyaluronic acid in cosmetic and personal care, increasing number of cosmetic surgeries, extensive use of hyaluronic acid in the treatment of osteoarthritis and dry eye|
Frequently Asked Questions (FAQ) :
The global hyaluronic acid market is expected to expand at 6.77% CAGR from 2020 to 2027.
The global hyaluronic acid market size can reach USD 19,945.4 Million by 2027.
Rise in cosmetic surgeries is the major driver of the global hyaluronic acid market.
The Americas can contribute massively to the global hyaluronic acid market owing to the massive demand for hyaluronic acid in the pharmaceutical sector.
Anika Therapeutics, Seikagaku Corporation, Altergon Italia SRL, Allergan, Zhonglan Industry Co., Ltd, Contipro AS, Fidia Farmaceutici SPA, Bioiberica SAU, Kewpie Corporation, and Symatese Group are major players of the global hyaluronic acid market.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.