USD 8.74 billion
Report ID: SQSG15E2026 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 37 | Figures: 74
Hyaluronic Acid Market size was valued at USD 8.74 billion in 2021 and is poised to grow from USD 9.4 billion in 2022 to USD 16.8 billion by 2030, growing at a CAGR of 7.58% in the forecast period (2023-2030).
Pollution and tobacco consumption with an unhealthy lifestyle can all diminish the amount of hyaluronic acid in human skin. Proper use of hyaluronic acid-based supplements and serums aids in prevention and skin improvement. The growing preference for marginally invasive procedures, as well as the desire for speedier outcomes, are projected to drive market expansion in the future years. The aging population, the introduction of cost-effective treatments and goods, and technological advancements are some of the causes driving the hyaluronic acid industry's growth.
US Hyaluronic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.74 billion
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Hyaluronic Acid Marketis segmented on the basis of application and region. Based on application, the Hyaluronic Acid Market is segmented into Dermal Fillers, Osteoarthritis, Ophthalmic, and Vesicoureteral Reflux. Based on region, the global Hyaluronic acid market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Hyaluronic Acid Market Analysis by Application
The hyaluronic acid market is segmented into dermal fillers, osteoarthritis, ophthalmic, and vesicoureteral reflux of which the osteoarthritis segment accounted for more than 43% of the global hyaluronic acid market in the year 2021. The market is predicted to increase as the senior population grows and there is a growing preference for minimally invasive procedures. Almost 90% of viscous supplement prescriptions are for the treatment of knee osteoarthritis. Both corticosteroids and hyaluronic acid injections can be used to treat osteoarthritis, according to the Osteoarthritis Research Society International (OARSI), but viscous supplementation is somewhat more effective than corticosteroids.
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In 2021, North America accounted for more than 43% of the global hyaluronic acid market and is expected to do the same throughout the analysis period. This is owing to the presence of a sizable older population, which is more vulnerable to illnesses like osteoarthritis, vesicoureteral reflux, and cataracts. Furthermore, the increased demand for less invasive aesthetic operations is a crucial element contributing to North America's high share.
The Asia Pacific region is predicted to post the highest CAGR over the forecast period because of rising disposable incomes, rising awareness about the potential applications of minimally invasive techniques, and the presence of large unmet medical needs in emerging economies like South Korea and China. Due to their huge and aging populations, China and Japan are promising markets for anti-aging goods and services. An uptick in demand for hyaluronan can be attributed to the growing public understanding of the many ways it can be put to use. Asians, influenced by Western ideals of beauty, strive for a more full-figured physical presentation. Because of this, the local economy has flourished.
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Hyaluronic Acid Market Driver
Hyaluronic Acid Market Restraint
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The Hyaluronic acid market is relatively fragmented, with a high level of competition. Few large players, like Allergan Inc., Sanofi S.A., and Anika Therapeutics, Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Hyaluronic Acid Market Top Player’s Company Profiles
Hyaluronic Acid Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, increasing disposable incomes, growing knowledge of minimally invasive treatments, and substantial unmet medical needs in emerging nations like South Korea and China are expected to drive hyaluronic acid market growth in the Asia Pacific. China and Japan are prospective anti-aging markets due to their ageing populations. Growing public awareness of hyaluronan's multiple uses has boosted demand and propelled the market growth.
|Market size value in 2021||USD 8.74 billion|
|Market size value in 2030||USD 9.4 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Hyaluronic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hyaluronic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG15E2026