Hyaluronic Acid Market Growth is Expected to Account for 6.91% CAGR to Gain USD 20.5 Billion by 2030
Research Reports
Aug 16, 2023
Hyaluronic Acid Market Research Report Information By Grade (Cosmetic Grade, Pharmaceutical Grade, Food Grade), By Application (Aesthetics, Osteoarthritis, Pharmaceutical API, Cosmetics, Dietary Supplements, Ophthalmology, Others), By End Users (Pharmaceutical Industry, Dermatology Clinics, Cosmetic Surgery Centers, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Forecast Till 2030
The hyaluronic acid market is a growing market that is expected to reach USD 20.5 billion by 2030 at a CAGR of 6.91%. The growth of the market is being driven by the increasing demand for hyaluronic acid in a variety of applications. Hyaluronic acid is a naturally occurring substance found in the body. It is a type of glycosaminoglycan, which is a long chain of sugar molecules. Hyaluronic acid is found in the skin, joints, and eyes. It helps to keep tissues hydrated and lubricated.
Hyaluronic acid Market Competitive Outlook
The major players in the hyaluronic acid market include companies such as
- Allergan (Ireland)
- Sanofi (France)
- Genzyme Corporation (US)
- Anika Therapeutics, Inc. (US)
- Seikagaku Corporation (Japan)
- Hoffmann-La Roche Ag (Switzerland)
- Galderma Laboratories L.P. (US)
- Zimmer Biomet (US)
- Smith & Nephew Plc (UK)
These companies are focusing on expanding their product portfolios, entering into strategic partnerships and collaborations, and investing in research and development to maintain their market position and drive growth.
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Hyaluronic acid Market Segmentation
The global hyaluronic acid market can be segmented based on product type, application, and end-user.
Based on product type, the market can be segmented into single-injection products, three-injection products, and five-injection products. The single-injection products segment is expected to grow at the highest CAGR during the forecast period due to their convenience and ease of use.
Based on application, the market can be segmented into dermal fillers, osteoarthritis, ophthalmology, vesicoureteral reflux, and others. The dermal fillers segment is expected to account for the largest share of the market due to the increasing demand for cosmetic procedures and anti-aging products.
Based on end-user, the market can be segmented into hospitals, specialty clinics, and home care settings. The specialty clinics segment is expected to grow at the highest CAGR during the forecast period due to the increasing number of clinics offering cosmetic procedures and joint-related treatments.
Geographically, the market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Overall, the market segmentation of the hyaluronic acid market provides insights into the different products, applications, and end-users that are driving the growth of the market in various regions across the world.
Hyaluronic Acid Market Regional Insights
Globally, North America led the industry. This is due to the senior population being more susceptible to ailments such as osteoarthritis, vesicoureteral reflux, and cataracts. Additionally, the increased demand for minimally invasive cosmetic operations is a key component in a large part of North America.
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The Asia Pacific area is predicted to have the quickest CAGR throughout the projected period. The growing older populations in China and Japan present a substantial market for anti-aging products and services. A growing understanding of the benefits and applications of hyaluronan is driving demand. Also, Asians are affected by western beauty standards and desire a volumized look. As a result, the regional sector has grown.
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