The global hyaluronic acid products market is expected to attain a valuation of USD 3,343.5 million in 2023 and is projected to reach USD 6,838.2 million by 2033, rising at a compound annual growth rate (CAGR) of 7.4% during the forecast period.
In the upcoming years, the market for hyaluronic acid products is anticipated to develop, mostly as a result of the aging population and the introduction of cutting-edge technology. The desire for quicker results and a growing preference for minimally invasive procedures are two further factors that are anticipated to fuel industry expansion.
Rising aesthetic consciousness, an older population, the launch of reasonably priced treatments and products, and continuous technical advancements are some of the factors propelling the market’s growth. The increasing number of diseases linked to unhealthy lifestyle choices and the growing desire for healthier lifestyles have caused people to embrace the idea that “prevention is better than cure.” The market’s demand outlook is being shaped by this change in consumer behavior.
Key Market Insights
- Market Growth: The hyaluronic acid products market is experiencing robust expansion driven by increasing demand across various sectors, particularly in cosmetics, pharmaceuticals, and dietary supplements. The compound’s exceptional moisture-retaining properties make it a popular ingredient in skincare and anti-aging products.
- Driving Factors:
- Aging Population: The rising geriatric population is contributing to the demand for hyaluronic acid-based products, especially for conditions like osteoarthritis and skin hydration.
- Minimally Invasive Procedures: There is a growing preference for minimally invasive aesthetic treatments, which boosts the use of hyaluronic acid in dermal fillers and other cosmetic applications.
- Technological Advancements: Continuous innovations in product formulations and delivery methods are enhancing the effectiveness and appeal of hyaluronic acid products.
Product Segmentation
- The market includes various segments such as:
- Dermal Fillers: These products are widely used in cosmetic procedures to enhance facial volume and reduce wrinkles.
- Osteoarthritis Treatments: Hyaluronic acid is increasingly used in viscosupplements for joint health.
- Cosmetics and Skincare: The demand for hyaluronic acid in moisturizers and serums is rising due to its hydrating properties.
Regional Dynamics
- North America: This region is expected to dominate the market due to high consumer awareness about skincare products and advanced healthcare infrastructure. The U.S. market is particularly strong, supported by a mature cosmetic industry.
- Asia-Pacific: Anticipated to be the fastest-growing region, driven by increasing disposable incomes, rising awareness of skincare regimens, and a significant aging population. Countries like China and India are witnessing rapid adoption of hyaluronic acid products.
Future Outlook
The hyaluronic acid products market is set for continued expansion over the next decade, supported by:
- Growing consumer awareness regarding skincare benefits.
- Increasing investment in research and development for new applications of hyaluronic acid.
- A shift towards natural and organic products, which aligns with consumer preferences for safe ingredients.
Market Competition
The hyaluronic acid products market is extremely competitive and consists of various key industry players. These players are heavily investing in manufacturing hyaluronic acid products.
The key industry players are Anika Therapeutics, Inc., Fidia Farmaceutici S.p.A., Sanofi, Ferring B.V., Viatris Inc., Croma-Pharma, Seikagaku Corporation, Zimmer Biomet, Lifecore Biomedical, LLC, LG Chem, Bioventus LLC, Smith & Nephew plc, Shanghai Jingfeng Pharmaceutical Co., Ltd., Nestle (Galderma), Bausch Health Companies Inc. (Salix Pharmaceuticals, Inc.), Allergan Plc.
Some recent developments in the market are:
Key industry players leverage organic growth strategies like acquisition, mergers, partnerships, and collaboration to enhance their product portfolio. This is expected to fuel the global hyaluronic acid products market.
- In February 2022, AbbVie Inc.’s subsidiary Allergan received Food and Drug Administration’s approval for JUVÉDERM VOLBELLA XC, which can improve infraorbital hollows in adults over 21 years old. This expanded the company’s aesthetic product portfolio in the United States market.
- In February 2021, Contipro, a well-known manufacturer of hyaluronic acid based in the Czech Republic, introduced a new product for anti-aging and anti-acne treatment called HyRetin, which helps in improving skin appearance.
- Anika Therapeutics announced its acquisition of Parcus Medical, a leading sports medicine company, and Arthrosurface in January 2020. The acquisition is expected to enhance Anika’s commercial capabilities and infrastructure.
Key Companies Profiled
- Anika Therapeutics, Inc.
- Fidia Farmaceutici S.p.A.
- Sanofi S.A
- Ferring B.V.
- Viatris Inc.
- Croma-Pharma
- Seikagaku Corporation
- Zimmer Biomet Holdingd
- Lifecore Biomedical LLC
- LG Chem
- Bioventus LLC
- Smith & Nephew plc
- Shanghai Jingfeng Pharmaceutical Co., Ltd.
- Nestle (Galderma)
- Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.)
- Allergan Plc.
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Key Segments Profiled in the Hyaluronic Acid Products Industry Survey
By Product:
- Single Cycle Injection Products
- Three Cycle Injection Products
- Five Cycle Injection Products
By Application:
- Osteoarthritis
- Ophthalmic
- Dermal Fillers
- Vesicoureteral Reflux
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Speciality Clinics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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