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Hyaluronic Acid Market Dynamics, Future Projections and An In-depth Analysis until 2032

Hyaluronic Acid Market Dynamics, Future Projections and An In-depth Analysis until 2032

The recent “Hyaluronic Acid Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “Hyaluronic Acid Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global Hyaluronic Acid Market Analysis and Growth Forecast:

The global hyaluronic acid market apprehended a market value of USD 7.94 billion in 2021 and is projected to reach USD 20.01 billion by the year 2030. The market is projected to list a CAGR of 11.53% during the forecast period. Moreover, the global hyaluronic acid market volume was 2,156.23 metric tons in 2021.

The hyaluronic acid business is likely to grow at a considerable rate owing to the increasing demand at the supply end for anti-aging products, as well as aesthetic therapies. Moreover, the rising preference rates and applications of hyaluronic acid products in dry eye and osteoarthritis management fuels the growth rate of the market significantly.

The growing strategic moves by the key players is boosting the market growth. For instance, in February 2017, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, received approval from the U.S. Food and Drug Administration (FDA) for an expanded 26-week efficacy claim for its single-injection viscosupplement Gel-One Cross-linked Hyaluronate for the treatment of knee pain associated with osteoarthritis.

On the other hand, the hyaluronic acid market is projected to get hampered by the high costs associated with the products. Moreover, the side effects and the gray market is estimated to create a level of uncertainty in the marketspace.

Competitive Landscape

The prominent players operating in the global hyaluronic acid market include Allergan plc, Evonic Industries AG, Zimmer Biomet, Smith & Nephew Plc, Anika therapeutics, Sanofi, Ferring B.V, Life Core Biomedical LLC, Fidia Farmaceutici s.p.a, Galderma Genzyme Corp., and Bausch & Lomb Inc., among others.

The major ten players in the market hold approximately 45% to 60% of the market share. These market players are investing in product launches, joint ventures, mergers, acquisitions, expansions, and research initiatives, to create a competitive edge. For instance, in September 2021, Bausch + Lomb, announced significant topline data from the second Phase 3 of MOJAVE trial evaluating the investigational drug NOV03 (perfluorohexyl octane) as a first-in class eye drop with a novel mechanism of action to treat the signs and symptoms of dry eye disease (DED) associated with Meibomian gland dysfunction (MGD).

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Growth Influencers:

Increasing Demand for Anti-aging Cosmetics and Aesthetic Treatment

The high usage of anti-aging cosmetic products is fueling the growth rate of the global hyaluronic acid market. for instance, according to the Aesthetic Plastic Surgery statistics published in 2020, there were 17.7 million cosmetic procedures done in 2018. Similarly, as per the International Society of Plastic Surgery (ISPAS) statistics in 2019, a total of 1.5 million individuals aged 51-64 years underwent botulinum toxin procedures worldwide in 2019. Such high statistics push towards the rise in market value of the hyaluronic acid market.

Increase in usage of Hyaluronic Acid in Osteoarthritis and Dry Eye

Hyaluronic acid has several applications, namely, osteoarthritis, dry eye, and dietary supplements and cosmetics. The rising applications of hyaluronic acid in these areas boosts the market value of the market drastically. For instance, according to a study published in Journal of Bone & Joint Surgery. the use of hyaluronic acid injections for knee osteoarthritis in Medicare beneficiaries increased substantially from 2012 to 2018. The increased use of hyaluronic acid products is boosting the growth rate of the market over the forecast period.

Segments Overview:

The global hyaluronic acid market is segmented into product, grade, formulation, application, distribution channel, and use.

By Product,
Pills
Liquid
Injection
Single Cycle Injection
Three Cycle Injection
Five Cycle Injection
Powder
Others

The injection segment is expected to be the highest revenue generation segment with USD 8.30 million by 2030. Based on the injection segment, the three cycle injection held the largest market share in 2022. The powder segment is projected to grow at the highest rate of 12.84% over the forecast period.

By Grade,
Medical Grade
Food Grade
Cosmetic Grade

The medical grade segment held the largest market share in 2021 over 45%, whereas the cosmetic grade segment grew highest with a rate of 12.16% over the anticipated period.

By Formulation,
HA + Lidocaine
HA

The HA + Lidocaine is projected to hold an opportunity of USD 7.7 billion owing to the rising usage of HA+ lidocaine formulations in most of the hyaluronic acid products.

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By Application,
Aesthetics
Osteoarthristis
Pharmaceutical API
Cosmetics
Dietary Supplement
Opthalmology
Others

The osteoarthristis segment is anticipated to grow at the highest rate during the forecast period. The osteoarthritis segment is expected to hold a CAGR of 9.88% in terms of the market volume over the forecast period. The pharmaceutical API is estimated to cross a mark of USD one billion revenue by 2023. Moreover, the cosmetics segment is projected to hold the highest volume worth 1,473.10 metric tons by 2030.

By Distribution Channel,
Hospitals
Specialty Clinics
Retail Pharmacies
Online Pharmacies

On the basis of distribution channel, the hospitals segment held the largest market share of over 35% in 2022, whereas the online pharmacies segment grew at a highest growth rate of 12.81%.

By Use,
Medical Use
Dermatology Clinics
Cosmetic Surgery Centers
Pharmaceutical Industry
Non-Medical Use
Food Industry
Personal Care

The non-medical use segment is expected to grow at the highest CAGR of 11.79% owing to the rapid applications of hyaluronic acid in personal care aesthetics and food marketspace.

Regional Overview

By region, the global hyaluronic acid market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.

The North American hyaluronic acid market is expected to hold the largest market share of more than 35% owing to the mounting strategic advances by the companies functioning in the marketspace.

The Asia-Pacific market for hyaluronic acid is anticipated to grow at a highest rate of 12.64%. The Asia-Pacific region is estimated to be the fastest & largest growing region due to increasing research and development initiatives and investments, coupled with the rising cosmetic industry in the countries, such as Thailand, Japan, and China.

Moreover, the European and Middle Eastern regions are also expected to grow at a substantial rate owing to the rising adoption rates of hyaluronic acid products.

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The global hyaluronic acid market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players

Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets

Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments

Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global hyaluronic acid market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.

Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of hyaluronic acid products

Manufacturing Cost Analysis: Cost-share of various components in hyaluronic acid products, cost analysis, unit cost analysis

The global hyaluronic acid market report answers questions such as:

  • What is the market size and forecast of the global hyaluronic acid market?
  • What are the inhibiting factors and impact of COVID-19 on the global hyaluronic acid market during the assessment period?
  • Which are the types/segments/applications/areas to invest in over the assessment period in the global hyaluronic acid market?
  • What is the competitive strategic window for opportunities in the global hyaluronic acid market?
  • What are the technology trends and regulatory frameworks in the global hyaluronic acid market?
  • What is the market share of the leading players in the global hyaluronic acid market?
  • What modes and strategic moves are considered favorable for entering the global hyaluronic acid market?

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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