Market Snapshot
| Study Period: | 2016 -2027 |
| Base Year: | 2021 |
| Fastest Growing Market: | North America |
| Largest Market: | North America |
| CAGR: | 9.8 % |
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Market Overview
The hyaluronic acid market is projected to register a CAGR of 9.8% during the forecast period (2022 - 2027).
The demand for hyaluronic acid declined as it has major applications in elective procedures, due to the COVID-19 restrictions, especially during the early stages of the pandemic. Moreover, patients opted out or postponed procedures even in the later stages of the pandemic to avoid the risk of infection, which negatively impacted the market, resulting in a decline in market revenue. The use of hyaluronic acid-based supplements was reduced drastically during the pandemic. Anika Therapeutics, one of the top companies offering hyaluronic acid supplements for osteoarthritis, witnessed a 24% decline in the use of these supplements. The easing of pandemic restrictions worldwide and the high preference for injection-based elective procedures over surgeries are expected to drive the post-pandemic market. Top players in different segments are launching new products to maintain their position in these tough times. ClearVisc Ophthalmic Viscosurgical Device (OVD) by Bausch Health is the latest approved hyaluronic acid-based Visco supplement for ophthalmic use.
The increased prevalence of lifestyle-related diseases and demand for healthy routines has resulted in consumers’ shift toward the principle of “prevention is better than cure,” which significantly drives the hyaluronic acid market, especially in segments such as dietary supplements for joint health.
The increasing number of patients with osteoporosis and rheumatoid arthritis is leading manufacturers to produce hyaluronic acid-based supplements and injectables.
Scope of the Report
Hyaluronic acid, also known as hyaluronan (HA), is an organic compound that belongs to the branch of carbohydrates and polysaccharides. Hyaluronic acid products have wide application in anti-aging processes and minimal invasive surgery (MIS) procedures. The hyaluronic acid market is segmented by application, including dietary supplements, pharmaceuticals, and cosmetics. The study also involves the global analysis of regions such as North America, Europe, Asia-Pacific, and the rest of the world. The report offers market size and forecasts for the hyaluronic acid market in value (USD million) for all the above-mentioned segments.
| By Application | |
| Dietary Supplements | |
| Pharmaceutical Industry | |
| Cosmetics Industry |
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Key Market Trends
Increased Cases of Orthopedic Disorders
Hyaluronic acid supplements are very helpful for people suffering from orthopedic disorders, such as osteoarthritis, a type of degenerative joint disease caused by wear and tear on the joints over time. Hyaluronic acid can also be injected directly into the joints for pain relief. The hyaluronic acid market primarily thrives on the aging population highly susceptible to incontinence, bone injuries, and fractures. The aging or geriatric population is one of the largest target segments for hyaluronic acid-based products worldwide. The increasing number of patients with osteoporosis and rheumatoid arthritis is leading manufacturers to produce hyaluronic acid-based supplements and injectables. Thus, with the increasing cases of bone and joint-related issues, the market for hyaluronic acid is projected to witness significant growth during the forecast period.
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North America Holds a Prominent Share in the Market
The cosmetic industry in the United States is one of the most flourished and mature markets regarding innovations and product availability. The demand from the country (where younger generations reject the idea of brand follow-up but prefer locally sourced, organic. and sustainable cosmetic solutions) is expected to drive the growth of the hyaluronic acid products market by streamlining its presence across skin-related products. The United States market for hyaluronic acid is likely to be driven by the “anti-aging” section. The consumers in the Gen X segment seek to approach “ageless” products, citing the ample spending power to embrace a reliable option for long-term use. North America dominates the hyaluronic acid market due to the strong healthcare industry and increased alertness. Furthermore, the swift adoption of new skin care treatments and technologies will further boost the growth of the hyaluronic acid market in the region during the forecast period. Asia-Pacific is projected to observe significant growth in the hyaluronic acid market due to the rise in the elderly population.
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Competitive Landscape
The hyaluronic acid market is fragmented with the presence of many players. The key strategies adopted by the players in the hyaluronic acid market are product innovations, partnerships, mergers, and acquisitions. Companies are trying to collaborate with universities and other research institutions for research activities, leading them to high product innovations specific to the end-user application. This factor would help them to increase the market by volume. The prominent players in the market are Contipro AS, Lifecore Biomedical, AlfaSagittarius, Shandong Topscience Biotech, and VitalEsthetique.
Major Players
Recent Developments
· In March 2021, Royal DSM, a global science-based company active in nutrition, health, and sustainable living, launched three different forms of hyaluronic acid. These are HYA-ACT™ MMedium Molecular Weight (MW 1.0-1.3 MDa), which enhances skin hydration and strengthens the protective barrier. HYA-ACT™ S Small Molecular Weight (MW 200-400 kDa) locks in moisture for an even greater hydration boost and calms reddened skin, and HYA-ACT™ XS Very Small Molecular Weight (MW 37-56 kDa) supplies a continuous burst of intense hydration and plumps out fine wrinkles.
· In June 2020, AbbVie announced the approval of a new hyaluronic acid product—Juvederm Voluma XC—indicated for improving chin profile in adults.
· In September 2019, Allergan received FDA approval for JUVÉDERM VOLUMA XC to be used with the TSK STERiGLIDE cannula for cheek augmentation.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Dietary Supplements
5.1.2 Pharmaceutical Industry
5.1.3 Cosmetics Industry
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Russia
5.2.2.7 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 Rest of the World
5.2.4.1 South America
5.2.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Positioning of Players
6.2 Most Active Companies
6.3 Most Adopted Strategies
6.4 Company Profiles
6.4.1 Contipro AS
6.4.2 Qufu Guanglong Biochem Co. Ltd
6.4.3 AlfaSagittarius
6.4.4 Shandong Topscience Biotech
6.4.5 VitalEsthetique
6.4.6 BaodingFaithfulIndustry Co. Ltd
6.4.7 Genzyme Corporation
6.4.8 HTL Biotechnology
6.4.9 Lifecore Biomedical LLC
6.4.10 Koninklijke DSM NV
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Hyaluronic Acid Products Market market is studied from 2016 - 2027.
What is the growth rate of Hyaluronic Acid Products Market?
The Hyaluronic Acid Products Market is growing at a CAGR of 9.8% over the next 5 years.
What is Hyaluronic Acid Products Market size in 2016?
The Hyaluronic Acid Products Market is valued at 10 Billion USD in 2016.
Which region has highest growth rate in Hyaluronic Acid Products Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Hyaluronic Acid Products Market?
North America holds highest share in 2021.
Who are the key players in Hyaluronic Acid Products Market?
Contipro AS, Lifecore Biomedical, Allergan, Sanofi, Anika Therapeutics are the major companies operating in Hyaluronic Acid Products Market.
