The global hyaluronic acid products market is on a strong growth trajectory, with an anticipated valuation of USD 3,343.5 million in 2023. The market is projected to nearly double, reaching USD 6,838.2 million by 2033, which translates to a compound annual growth rate (CAGR) of 7.4% during the forecast period.
The rising demand for hyaluronic acid in various applications, including cosmetics, dermatology, and orthopedics, is driving this growth. Known for its hydrating properties and ability to improve skin elasticity, hyaluronic acid has become a popular ingredient in skincare products and aesthetic procedures.
The anticipated market growth is driven by several key factors, including the increasing aging population and advancements in technology. As the demand for minimally invasive procedures rises, coupled with a preference for faster results, the hyaluronic acid products market is set to benefit from these evolving trends.
The aging population has created a significant demand for non-invasive procedures, leading to increased adoption of hyaluronic acid-based dermal fillers that offer an alternative to traditional surgeries. Moreover, the cost of such treatments is minimal, thereby contributing to the growth of the market.
The global market is experiencing significant growth due to the high usage of anti-aging cosmetic products. For instance, in 2018, there were 17.7 million cosmetic procedures performed, according to the Aesthetic Plastic Surgery statistics published in 2020. Similarly, in 2019, the International Society of Plastic Surgery (ISPAS) reported that 1.5 million individuals aged 51-64 years underwent botulinum toxin procedures worldwide. These high statistics are contributing to the increasing market value of the hyaluronic acid market.
Key Takeaways from the Hyaluronic Acid Products Market
- North America is expected to dominate the market while growing with a CAGR of 1% during the forecast period.
- The market in India is projected to witness a CAGR of 8% during the forecast period.
- The market in China is expected to grow at an 8% CAGR during the forecast period.
- By product type, the cycle injection segment is projected to lead the segment and is estimated to grow with a CAGR of 01% during the forecast period.
- By distribution channel, the hospital pharmacies segment is expected to lead the market. It is expected to grow with a CAGR of 8% throughout the forecast period.
Rising demand for non-invasive procedures and anti-aging personal care products are expected to fuel growth in the market during the forecast period, comment by Sabyasachi Ghosh (Associate Vice President at Future Market Insghts, Inc.)
Competitive Landscape in the Hyaluronic Acid Products Market
The Global Hyaluronic Acid Products Industry is extremely competitive and consists of various key industry players. These players are heavily investing in the hyaluronic acid products market.
The key industry players are Anika Therapeutics, Inc., Fidia Farmaceutici S.p.A., Sanofi, Ferring B.V., Viatris Inc., Croma-Pharma, 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. (Salix Pharmaceuticals, Inc.), Allergan Plc.
Some recent developments in the Hyaluronic Acid Products Market are:
- In February 2022, AbbVie Inc.’s subsidiary Allergan received the Food and Drug Administration’s approval for JUVÉDERM VOLBELLA XC, which can improve infraorbital hollows in adults over 21 years old. This expanded the company’s aesthetic product portfolio in the United States market.
- In February 2021, Contipro, a well-known manufacturer of hyaluronic acid-based in the Czech Republic, introduced a new product for anti-aging and anti-acne treatment called HyRetin, which helps in improving skin appearance.
- Anika Therapeutics announced its acquisition of Parcus Medical, a leading sports medicine company, and Arthrosurface in January 2020. The acquisition is expected to enhance Anika’s commercial capabilities and infrastructure.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the Global Hyaluronic Acid Products Industry, providing historical data for 2017 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the Global Hyaluronic Acid Products Industry, the market is segmented based on product type, by application, by distribution channel, and by region.
Key Companies Profiled in the Hyaluronic Acid Products Market
- Anika Therapeutics, Inc.
- Fidia Farmaceutici S.p.A.
- Sanofi S.A
- Ferring B.V.
- Viatris Inc.
- Croma-Pharma
- Seikagaku Corporation
- Zimmer Biomet Holdings
- 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.
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Key Segments Profiled in the Hyaluronic Acid Products Market Survey
By Product:
- Single Cycle Injection Products
- Three-Cycle Injection Products
- Five Cycle Injection Products
By Application:
- Osteoarthritis
- Ophthalmic
- Dermal Fillers
- Vesicoureteral Reflux
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Specialty Clinics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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