In terms of revenue, the Global Hyaluronic Acid Market is expected to reach USD 12.8 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 7.2% from 2022 to 2028.
Hyaluronic Acid, also known as hyaluronan, is a chemical found in human cells. Further, the largest concentrations can be found in the fluids around the eyes and the joints. As a result, it provides a cushion for the body's joints and lubrication for other tissues. Hyaluronic Acid is widely used in the cosmetics and pharmaceutical industries because of its moisturizing qualities.
Moreover, it is injected directly into the body to hydrate and plump the skin. In addition, Hyaluronic Acid gel and rinse are used to alleviate mouth ulcers. Key factors driving the expansion of the Hyaluronic Acid goods market include an older population, rising demand for minimally invasive therapies, and the launch of specialized dermatological procedures by major manufacturers.
Key Highlights from Report:
● Based on the Application segment, the market is segmented into Aesthetics, Osteoarthritis, Active Pharmaceutical Ingredient, Cosmetics, Dietary Supplements, and Ophthalmology. The Osteoarthritis segment accounted for the highest market revenue in 2021 and is forecast to continue its dominance in the projection period.
● The Cosmetic Grade segment, from the Grade segmentation, is expected to dominate the Hyaluronic Acid Market. The segment is expected to be the dominant shareholder in the market growth in the forecast period.
● North America held the Hyaluronic Acid Market revenue in 2021 and is expected to be the most lucrative market in the coming years. This surge is because of the increasing popularity of cosmetic surgeries in this region. In addition, the growing aged population and the mounting consumer awareness in China and Japan are driving the regional market growth. Also, the increase in disposable income levels will propel regional development in the future.
Demand for hyaluronic-based products including moisturizers, dermal fillers, shampoo, and others has contributed to the expansion of the Global Hyaluronic Acid Market. Further, the prevalence of the elderly population, especially in China and Japan, has exacerbated the issue of joint discomfort. Since it is utilized for joint treatment, this is anticipated to increase demand and Hyaluronic Acid production. This industry is expected to expand thanks to the expanding middle classes in developing countries. Moreover, the proliferation of cosmetic clinics and plastic surgeons facilitates the rise in the popularity of aesthetic procedures.
However, major participants in the market are putting pressure on manufacturers to include cutting-edge features in their latest Hyaluronic Acid offerings. As a result, the market has promising prospects in the future thanks to this. New product approvals and mergers & acquisitions among industry participants have also led to the introduction of cutting-edge technology and the expansion of operations into new geographies.
North America Hyaluronic Acid Market is anticipated to observe considerable market growth in terms of revenue during the forecast period. The region’s market growth can be attributable to an increasing consumer base such as cosmetic, pharmaceutical, and nutraceutical industries in top investment countries like India and China. Moreover, the presence of high unmet medical needs in promising economies, the rising awareness regarding the applications of minimally invasive techniques, and growing disposable income are other key factors driving the market growth in this region. Furthermore, the Asian population base is influenced more by western beauty standards and aims for a volumized appearance, leading to the high market growth of this region.
The Global Hyaluronic Acid Market is Segmented as follows:
- Cosmetic Grade
- Pharmaceutical Grade
- Food Grade
- Active Pharmaceutical Ingredient
- Dietary Supplements
- End Users
- Pharmaceutical Industry
- Dermatology Clinics
- Cosmetic Surgery Centers
- Food Industry
- Personal Care
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Hyaluronic Acid Market is:
Allergan (Ireland), Anika Therapeutics Inc. (U.S.), Bio Plus Co. Ltd. (South Korea), Bioxis Pharmaceuticals (France), Bohus Biotech AB (Sweden), Candela Medical (U.S.), Galderma Laboratories L.P. (U.S.), Genzyme Corp. (U.S.), NUVISAN GmbH (Germany), Laboratoires Vivacy (France), LG Chem (South Korea), Medicis Aesthetics Holdings Inc. (U.S.), Merz Pharmaceuticals (Germany), Sculpt Luxury Dermal Fillers Ltd. (U.S.), Sinclair Pharma (U.S.)
The Global Hyaluronic Acid Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|