The hyaluronic acid market size was valued at USD 2.16 Billion in 2022 and is projected to reach USD 4.32 Billion by 2031 , expanding at a CAGR of around 8% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing ageing population and the development of technologically advanced items.
Hyaluronic acid is a chemical found in the fluids of the eyes and joints. It cushions and lubricates joints and other muscles. Hyaluronic acid is used in cosmetics in several different forms. Hyaluronic acid may also affect how the body responds to injury and help in edema decrease. It is also used during surgeries. It is also infused straight into the body to hydrate and enhance the skin. Hyaluronic acid is injected into the eye by an eye surgeon for cataract surgery. Hyaluronic acid rinse and gel can also be used to treat mouth ulcers.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand less invasive procedures and quick outcomes is projected to fuel the market.
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Growing aesthetic awareness is estimated to drive the market during the forecast period.
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Development of cost-effective treatments and products is expected to boost the market during the projected period.
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Increase in the number of cosmetic clinics and surgeons is projected to fuel the market.
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Increased demand for hyaluronic acid-based goods such as shampoo, fillers, dermal, and moisturizers, others are driving the hyaluronic acid market.
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The adoption of vitamin C, sqaulene, ceramides, and other skin care components is projected to hinder the market growth.
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Strict regulations, particularly for hair and skin products is estimated to impede the market growth.
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Technological advancements and R&D investments are anticipated to create immense opportunities for the market players.
Scope of the Report
The report on the global hyaluronic acid market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Hyaluronic Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023– 2031
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Segmentation
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Applications (Vesicoureteral Reflux, Ophthalmic, Osteoarthritis, and Dermal Fillers) and End-users (Nutraceutical Industry, Pharmaceutical Industry, and Cosmetic Industry)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Maruha Nichiro, Inc.; LG Life Sciences Ltd. (LG Chem.); Bloomage Biotechnology Corp. Ltd.; Shiseido Company, Ltd.; HTL Biotechnology; Lifecore Biomedical, Llc; Ferring B.V.; Smith & Nephew Plc; Zimmer Biomet; Galderma Laboratories L.P.; F. Hoffmann-La Roche Ag; AbbVie; Seikagaku Corporation; Salix Pharmaceuticals; Anika Therapeutics, Inc.; Genzyme Corp.; Sanofi; Allergan; Contipro a.s.; Landec; Kewpie Corporation; Liuzhou Shengqiang Biotech Co.,Ltd.; and Tiansheng Bio
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Market Segment Insights
Osteoarthritis segment accounted for a major market share
Based on applications, the market is segregated into vesicoureteral reflux, ophthalmic, osteoarthritis, and dermal fillers. The osteoarthritis segment is further fragmented into single injection, three-injection, and five-injection. The osteoarthritis segment accounted for a major market share of around 40% in 2021. In the US both hyaluronic acid and corticosteroids injections can be used to treat osteoarthritis, according to the Osteoarthritis Research Society International (OARSI), however viscosupplementation is somewhat more impactful than corticosteroids. Despite the prevalence of painkillers in pain management, viscosupplements are gaining traction as a treatment option. The FDA approved hyaluronan as an osteoarthritis therapy in 1997, and it has since garnered significant market share. Despite having greater treatment costs than its competitors, the single hyaluronic acid injection segment is driving the market. Single-injection therapy is more convenient and decreases hospital visits while also reducing discomfort and side effects. Dermal fillers are the most common and noninvasive injectable procedures, according to the American Society of Plastic Surgeons (ASAPS), and are mainly utilized to treat soft tissue abnormalities of the face. Dermal fillers made of hyaluronic acid are often used to treat rejuvenation, scar correction, eye wrinkles, nasolabial folds, and dark circles. Hyaluronic acid injections are inexpensive, effective, and simple to use, and these benefits are projected to propel the market during the forecast period.
The cosmetic industry segment held around 32% of the total market share in 2021
On the basis of end-users, the market is fragmented into nutraceutical industry, pharmaceutical industry, and cosmetic industry. The cosmetic industry segment held major market share in 2021 and is estimated to maintain its dominance during the forecast period. The growth of the fashion industry boosted the demand for face care goods, which in turn boosted the demand for hyaluronic acid. Rapid urbanization increased the number of salons, which is expected to fuel the segment.
Asia Pacific is projected to register a CAGR of around 6% during the forecast period
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is projected to register a CAGR of around 6% during the forecast period. The primary factors driving the market include increased knowledge of the applicability of minimally invasive methods, rising disposable income, and the prevalence of large unmet medical requirements in emerging nations such as China, South Korea and India. Furthermore, rapidly ageing populations in Japan and China is estimated to create a substantial market for anti-aging products and services. Furthermore, the population in Asia based countries are affected by western beauty ideals and strive for a volumized look, which is anticipated to drive the market in the region.
Segments
The global hyaluronic acid market has been segmented on the basis of
Applications
- Vesicoureteral Reflux
- Ophthalmic
- Osteoarthritis
- Dermal Fillers
End-users
- Nutraceutical Industry
- Pharmaceutical Industry
- Cosmetic Industry
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Maruha Nichiro, Inc.
- LG Life Sciences Ltd. (LG Chem.)
- Bloomage Biotechnology Corp. Ltd.
- Shiseido Company, Ltd.
- HTL Biotechnology
- Lifecore Biomedical, Llc
- Ferring B.V.
- Smith & Nephew Plc
- Zimmer Biomet
- Galderma Laboratories L.P.
- F. Hoffmann-La Roche Ag
- AbbVie
- Seikagaku Corporation
- Salix Pharmaceuticals
- Anika Therapeutics, Inc.
- Genzyme Corp.
- Sanofi
- Allergan
- Contipro a.s.
- Landec
- Kewpie Corporation
- Liuzhou Shengqiang Biotech Co.,Ltd.
- Tiansheng Bio
Competitive Landscape
Key players competing in the hyaluronic acid market include Maruha Nichiro, Inc.; LG Life Sciences Ltd. (LG Chem.); Bloomage Biotechnology Corp. Ltd.; Shiseido Company, Ltd.; HTL Biotechnology; Lifecore Biomedical, Llc; Ferring B.V.; Smith & Nephew Plc; Zimmer Biomet; Galderma Laboratories L.P.; F. Hoffmann-La Roche Ag; AbbVie; Seikagaku Corporation; Salix Pharmaceuticals; Anika Therapeutics, Inc.; Genzyme Corp.; Sanofi; Allergan; Contipro a.s.; Landec; Kewpie Corporation; Liuzhou Shengqiang Biotech Co.,Ltd.; and Tiansheng Bio. Some of these players are using several market strategies such as capacity expansion, partnerships, collaborations, mergers, acquisitions, and product launches to enhance their market shares and raise their production line of the business in the coming years. For instance,
- In June 2020, Juvederm Voluma XC, a new hyaluronic acid medicine from AbbVie, has been approved for enhancing the chin line in adults.
- In 2019, JUVÉDERM VOLUMA XC has been approved by the FDA for use with the TSK STERiGLIDE injector for cheek enhancement.
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