Hyaluronic Acid Products Market exhibiting growth at 6.1% CAGR through 2030.
Hyaluronic acid products have been gaining the momentum backed by massive use in therapies intended at the treatment of osteoarthritis, vesicoureteral reflux (VUR), and dry eye diseases, besides diverse aesthetic applications. Future Market Insights (FMI) in a new study has forecast the global market for hyaluronic acid products to surpass US$ 2.7 Bn by 2021.
As a result, the demand of minimally invasive treatment for diseases such as osteoarthritis and VUR stemmed. Manufacturers are introducing advanced intra-articular hyaluronic acid injections (IAHA) injections for the minimal invasive pain management with minimal pain, short recovery time and shorter hospital stay period.
The rising demand of the minimally invasive treatment for the pain management of osteoarthritis and other chronic ailments have pushed the key players to introduce innovative hyaluronic acid products into the market. The conventional treatment regime for chronic diseases was often invasive, involving certain amount of risk for patients with medical-comorbidities. These treatment methods often resulted in long hospital stays.
FMI has forecast dermal fillers to remain key application segment, accounting for over 35% of sales in 2021. The dermatological application of hyaluronic acid also has seen surge with the introduction of advanced dermal fillers, masks, and serums for application in restorative therapy and wrinkle augmentations.
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Major Key Players:
- Anika Therapeutics, Inc.
- Fidia Farmaceutici S.p.A.
- Ferring B.V.
- Viatris Inc.
- 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. Companies Inc. (Salix Pharmaceuticals, Inc.)
- Allergan Plc.
“Increasing prevalence of chronic inflammatory diseases, increasing geriatric population, and advancements in hyaluronic acid products in terms of better efficacy and cost-effectiveness, are expected to drive the hyaluronic acid products market,” says the FMI Analyst
The global hyaluronic acid products market is set to expand its scope in the forecast period, as a result of rising prevalence of chronic diseases and expanding geriatric population. In addition to this, the rising demand for minimally invasive therapies and advancing aesthetic procedures and products are propelling the growth of the market.
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Key Takeaways from Hyaluronic Acid Products Market Study
- The hyaluronic acid products market will expand at a CAGR of 6.1% between 2020 and 2030
- The U.S. will emerge as one of the leading markets, accounting for over 73% of sales in North America
- The U.K. will remain one of the key markets within Europe, registering 7.7% Y-o-Y growth in 2021
- The demand for Germany and France will continue rising at a positive rate
- Japan will emerge as a leading market in East Asia, followed by China and South Korea
Who is winning?
Manufacturers in the hyaluronic acid products market are focusing on advanced IAHA injections, dermal filler, and other products. The delivery of hyaluronic acid to the target site has been made effective, precise, and minimally invasive. This is intended at ensuring more effective pain management for various chronic and inflammatory diseases such as osteoarthritis. Many manufacturers are focused on developing advanced, effective and affordable IAHA injections that come with advanced targeted delivery and minimal invasiveness.
For instance, Synvisc by Sanofi is effective for osteoarthritis pain. The advanced range of dermal filler launched by Galderma of Nestlé, named Restylane covers a wide spectrum dermal application for volume restorative therapy and Restylane Lyft is indicated for the wrinkle augmentation of the backside of the hand.
Valuable Insights into Hyaluronic Acid Products Market
Future Market Insights, in its new report, provides an unbiased analysis of the hyaluronic acid products market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the hyaluronic acid products market based on product type (single cycle injection, three cycle injection, five cycle injection), application (osteoarthritis, ophthalmic, dermal fillers, and vesicoureteral reflux), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and specialty clinics). Regionally the market covers North America, Europe, Latin America, East Asia, South Asia, Oceania, and the Middle East and Africa.
Hyaluronic Acid Products Market by Category
- Single Cycle Injection Products
- Three Cycle Injection Products
- Five Cycle Injection Products
- Dermal Fillers
- Vesicoureteral Reflux
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Speciality Clinics
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- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
For Read More Related Insights:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.
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