The global hyaluronic acid products market is set for significant growth, with its valuation projected to rise from USD 3,343.5 million in 2023 to USD 6,838.2 million by 2033, reflecting a compound annual growth rate (CAGR) of 7.4% over the forecast period.
This growth is fueled by a rapidly aging population seeking non-surgical solutions for skin rejuvenation and joint health. Hyaluronic acid products, known for their hydrating and anti-aging properties, are witnessing increasing demand in the cosmetic and orthopedic sectors. A rising preference for minimally invasive procedures, such as dermal fillers, and the desire for quick, effective results are further driving market expansion.
The introduction of advanced technologies, including new formulations and delivery systems, is also playing a crucial role in expanding the adoption of hyaluronic acid products. These innovations offer improved efficacy, longer-lasting results, and greater patient satisfaction, making them popular among both healthcare providers and consumers.
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Key Takeaways:
- Market Growth: Valuation expected to grow from $3,343.5 million in 2023 to $6,838.2 million by 2033, at a CAGR of 7.4%.
- Driving Factors: Aging population, rising demand for minimally invasive procedures, and advancements in product technology.
- Applications: Increasing use in cosmetics for anti-aging solutions and in orthopedics for joint health therapies.
- Future Trends: Technological innovations to improve product efficacy and enhance patient outcomes.
The hyaluronic acid products market’s growth underscores its pivotal role in addressing aesthetic and medical needs, offering solutions that align with evolving consumer and patient preferences.
Market Competition
The hyaluronic acid products market is extremely competitive and consists of various key industry players. These players are heavily investing in manufacturing hyaluronic acid products.
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 market are:
Key industry players leverage organic growth strategies like acquisition, mergers, partnerships, and collaboration to enhance their product portfolio. This is expected to fuel the global hyaluronic acid products market.
- In February 2022, AbbVie Inc.’s subsidiary Allergan received 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.
Key Companies Profiled
- Anika Therapeutics, Inc.
- Fidia Farmaceutici S.p.A.
- Sanofi S.A
- Ferring B.V.
- Viatris Inc.
- Croma-Pharma
- Seikagaku Corporation
- Zimmer Biomet Holdingd
- 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.
Key Segments Profiled in the Hyaluronic Acid Products Industry 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
- Speciality Clinics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author By:
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 areas such as 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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