The total hyaluronic acid market is anticipated to grow at a CAGR of 7.3% from 2017-2023 and is projected to reach $ 14 billion by 2023. Hyaluronic acid finds it usage in treating joint pains, osteoarthritis, and certain cosmetic surgeries.
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Globally, the market is expected to be highly driven by the rising demand for hyaluronic acid in medical as well as beauty and cosmetic industries. Increasing incidence of ulcers, growing geriatric population, and rising obesity that results in a number of cases of joint pain and osteoarthritis are the major factors that contribute towards the market growth.
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Huge R&D in technology towards better health services is anticipated to boost the demand for hyaluronic acid during the forecast period.
The Global Hyaluronic Acid Market report 2018 covers deep dive segmentation in every aspect by type, application, end-user and region. The report covers key parameter competitors analysis, product benchmarking, customer analysis, and value chain analysis, pricing analysis, country specific analysis, market trends & forecasts, market entry strategy, new product assessment, new application identification, opportunity analysis.
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In terms of product type, in Osteoarthritis, the five injection therapy accounted for the largest market share in 2017. The five injection course consists of five consecutive weeks and is highly recommended by doctors.
By the end of the treatment cycle, the patient or the consumer starts experiencing the effect of the hyaluronic acid therapy. The segment accounted for more than 40% of the global market in 2017, owing to its popularity among both doctors and consumers.
Single and three injection cycle account for a lesser market share as these injections are much costlier than five injections and are not very affordable for consumers. However, the single injection therapy is gaining popularity and is expected to witness the highest growth rate in future, due to the preference of consumers for short term treatment, along with it being quite convenient for them.
Dermal fillers was observed as the largest market segment in 2017. The increasing desire of the consumer to maintain their beauty and looks drives the market for the dermal filler segment.
Hyaluronic acid injections are used to improve the skin's contour and reduce depressions in the skin caused by scars, injury, or lines. Coupled with the rising trend of cosmetic surgery all the other factors contribute heavily to the market growth of dermal fillers and hyaluronic acid as a whole.
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In terms of region, North America was the largest market for hyaluronic acid followed by Europe. Some of the major players such as Anika Therapeutics, Sanofi Genzyme, Salix Pharmaceuticals,., in North America and their highly competing strategies to provide the consumer with cost-effective products makes North America one of the most favoured markets for hyaluronic acid.
The awareness of such treatment makes this region a favourable market for hyaluronic acid than the Asia-Pacific market.
Recently, a new trend of usage of combination products and the pipelines of major manufacturers in the hyaluronic acid products market having a combo of corticosteroid and hyaluronic acid-based injections has been observed. This innovative combination provides a pain relieving effect of corticosteroids with the long-lasting influence of hyaluronic acids.
Major companies are engaged in extensive R&D to develop innovative and effective products. In 2016, Bioventus, an orthobiologic solutions provider, entered into a multi-year agreement with Institut Biochimique SA (IBSA) from Switzerland, to secure the U.S.
distribution rights for GELSYN-3 (a three-injection, hyaluronic acid product for pain relief related to osteoarthritis (OA) of the knee). In January 2018, Anika Therapeutics expanded its collaboration with the Institute for Applied Life Sciences (IALS) at the University of Massachusetts Amherst to develop an innovative therapy for rheumatoid arthritis.
Some of the major players that operate in the industry are Sanofi Genzyme, Salix Pharmaceuticals, Shiseido, Ferring B.V., Lifecore Bio-Medical, LLC, LG Life Sciences, Allergan, Galderma and Seikagaku Corporation, & others.
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Table of Contents
Hyaluronic Acids, By Type
Factors influencing the demand of Hyaluronic Acids
North America market analysis
Western Europe market analysis
Asia Pacific market analysis and more………
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