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The hyaluronic acid market size is forecast to increase by USD 4.46 billion at a CAGR of 8.09% between 2023 and 2028. The market's expansion hinges on various factors, including the demand for safe and stable drugs necessitating minimal monitoring, increased investments in expanding production facilities for hyaluronic acid raw materials, and a rising trend of health consciousness among individuals. Safe and stable drugs that require minimal monitoring are becoming increasingly sought after, driving market growth. Simultaneously, substantial investments in expanding production facilities are further fueling the market's upward trajectory. Additionally, the growing health consciousness among people is playing a pivotal role, as individuals prioritize health and wellness, creating a conducive environment for the market's expansion.
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The hyaluronic acid market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market is diversified and dynamic, catering to various industries and applications. In natural ingredient skincare products, hyaluronic acid stands out as a key component known for its antiaging properties and effectiveness in ophthalmology applications like dry eye treatment and intravitreal injection. Within the healthcare sector, hyaluronic acid is integral to minimally invasive antiaging solutions such as dermal fillers, offering benefits for facial esthetics and addressing conditions like vesicoureteral reflux. It also finds utility in viscosupplements and contributes to pharmaceutical and personal care products, including injectable hyaluronic acid used in minimally invasive or non-surgical cosmetic procedures. The cosmetics industry relies heavily on hyaluronic acid for topical fillers, catering to the needs of an aging population seeking effective skincare solutions. Differentiating between pharmaceutical grade and food grade hyaluronic acid is essential for maintaining quality standards across various product categories.
The market share growth by the dermal fillers segment will be significant during the forecast period. The use of HA dermal fillers is to restore the lost tissue volume, giving sagging skin an elastic aspect and a fuller appearance. Moreover, the cross-linked HA particles used in fillers provide a concentrated material that is resistant to many types of physical and chemical disintegration. Such factors will increase segment growth during the forecast period.
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The dermal fillers segment was valued at USD 3.56 billion in 2018. In recent years, the pool of patients adversely affected by dermatologic conditions has greatly expanded due to major factors such as poor nutrition, stress, environmental pollution, unhealthy eating habits, and weakened immunity. This has increased the demand for effective treatments and medicines for dermatological diseases. HA preparations come in oral, topically applied, and injectable forms and have received Food and Drug Administration (FDA) approval for several of them. HA has become widely used in cosmetic injections in recent years due to its capacity to reduce the visibility of wrinkles and other aging-related skin defects. Therefore, the growth of the dermal filler segment is expected to contribute to hyaluronic acid market growth during the forecast period.
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North America is estimated to contribute 41% to the growth of the global hyaluronic acid market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American HA market is experiencing significant growth, primarily due to an aging population and high prevalence of chronic and infectious diseases. This has increased the demand for dermatology medicines and services in the region, increasing the demand for HA acids. Especially in the US, the growing awareness about diagnostic dermatology tests among the geriatric population has increased the sales of dermatological drugs in the country.
The market is driven by a rise in the demand for antiaging products and its pivotal role in ophthalmology applications like dry eye treatment and intravitreal injection. The rising preference for minimally invasive antiaging solutions, especially among women, underscores a key trend. Challenges include ensuring quality raw materials for pharmaceutical grade and food grade hyaluronic acid, meeting regulatory standards for injectable fillers and skincare products, and addressing the evolving needs of an aging population. These factors shape the market's growth trajectory amid advancements in dermal fillers and viscosupplements for various medical and cosmetic applications. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. The hyaluronic acid market forecast report includes an in-depth analysis of market trends and analysis, market growth analysis, and challenges. Furthermore, the report includes historic market data from 2018-2022.
The huge requirement for safe and stable drugs that require minimal monitoring is the key factor driving the growth of the global market. Most drugs used is dermatology are associated with neuropsychiatric side effects. Because they are dose and duration-dependent and hence require systematic monitoring to identify adverse effects. Rational drug use is conventionally defined as the use of appropriate, effective, safe, and cost-effective treatments in recommended dosages and formulations for appropriate indications and for the required duration. Rational prescription by the dermatologist involves defining the illness, specifying therapy objectives, using personalized treatment, initiating treatment, providing information to patients, and monitoring the patient.
Since most available dermatological drugs require repeated and long-term use, the term rational prescription may not be valid. The stability of most dermatological drugs also varies depending on the climate. For instance, extreme climatic conditions can reduce the potency of drugs, with some drugs degrading faster than others. Hence, there is a need for drugs that show sufficient chemical, physical, and microbial stability in varied climatic conditions. Such an increase in demand for HA-based dermatological drugs, in turn, is expected to drive hyaluronic acid market growth.
Increasing acquisitions and joint ventures is the primary trend in the global market. Regional and global players are operating in the global HA market by forming strategic alliances and partnerships. The manufacturer has expanded its product portfolio through strategic alliances to meet the growing demand for HA from pharmaceutical industries such as dermatology, orthopedics, and surgical adhesion prevention. For instance, in March 2022, AbbVie Inc. acquired Syndesi Therapeutics to expand AbbVie's neuroscience portfolio. AbbVie now has access to Syndesi's portfolio of new modulators of the synaptic vesicle protein 2A (SV2A), including its flagship product SDI-118.
The mechanism is now being studied for its possible application in the treatment of cognitive impairment and other symptoms associated with a variety of neuropsychiatric and neurodegenerative illnesses, including Alzheimer's disease and major depressive disorder. Such M&A activities help companies to expand their product portfolios and geographical presence and enhance product development, which will boost hyaluronic acid market growth during the forecast period.
Rising raw material prices are a major challenge to the growth of the global market. Producing HA requires raw materials such as essential oils, plant extracts, chemicals, syrups, and vitamins. HA comes from natural plant-based sources such as soybeans and wheat, and it also comes from animal sources such as rooster combs. In addition, raw materials such as essential oils and plant extracts are being used more and more in various products such as pharmaceuticals and cosmetics, resulting in rising prices in Europe and the United States.
Thus, the cost of production incurred by HA manufacturers is increasing because manufacturers from other industries are also procuring the raw materials. This will negatively impact the profit margins of the companies, and as a result, companies are increasing the prices of their offerings. Such factors are expected to negatively impact hyaluronic acid market growth during the forecast period.
The hyaluronic acid market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the hyaluronic acid market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc.: The company offers hyaluronic acids such as JUVEDERM VOLUX XC. Also, the company conducts research and development, manufacturing, commercialization, and sale of innovative medicines and therapies to allocate resources and assess business performance on a global basis to achieve established long-term strategic goals.
The hyaluronic acid market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The hyaluronic acid market is thriving across various sectors including ophthalmic solutions, dermatology clinics, and cosmetic surgery centers due to its versatile applications. Used in contact lenses and addressing ocular emergency department needs, hyaluronic acid is pivotal in treating ophthalmic disorders and supporting clinical trials and regulatory submissions. In cosmetics, it's a key ingredient in serum and mask skincare, youth products, and soft tissue fillers for combating knee pain and orthopedic disorders. The market also spans specialty cosmetics with natural ingredient-based skincare featuring hydrolyzed hyaluronic acid and Sodium acetylated hyaluronic acid. With applications in pharmaceutical grade hyaluronic acid for minimally invasive cosmetic procedures and functional foods and beverages, hyaluronic acid's demand extends to dietary supplements and animal feed, reflecting its broad appeal and growing market significance. The Centre for Disease Control advises caution when considering natural ingredient based skincare products containing cosmetic grade sodium hyaluronate due to potential risks associated with botulinum toxin operations.
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Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2024-2028 |
USD 4.46 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.32 |
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Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Canada, China, South Korea, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Abdi Ibrahim Ilac Sanayi ve Tic A.S., Anika Therapeutics Inc., Bausch Health Companies Inc., Bio plus Co. Ltd., BioScience GmbH Cosmetics Trading LLC, Bioxis Pharmaceutical, Bloomage Biotech Co. Ltd., Ferring BV, Fidia Farmaceutici Spa, Galderma SA, Huadong Medicine Co. Ltd., Laboratoires VIVACY, LG Chem Ltd., Merz Pharma GmbH and Co KGaA, Sanofi SA, SEIKAGAKU CORP., Smith and Nephew plc, Syrhatech, Teva Pharmaceutical Industries Ltd., and Zimmer Biomet Holdings Inc. |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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Customization purview |
If our hyaluronic acid market trends and forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this hyaluronic acid market research and growth report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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