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.
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.
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.
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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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
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.
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.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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