Global Hyaluronic Acid Products Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report - Segmented By Product Type (Single Cycle Injection Products, Three Cycle Injection Projects and Five Cycle Injection Products), Application (Osteoarthritis, Ophthalmic, Dermal Fillers and Vesicoureteral Reflux) and Region - Industry Forecast (2024 to 2029)

Updated On: June, 2024
ID: 7715
Pages: 175

Global Hyaluronic Acid Products Market Size (2024 to 2029)

The global hyaluronic acid products market is expected to value USD 16.67 billion by 2029 from USD 10.93 billion in 2024, witnessing a CAGR of 8.8% during the forecast period. 

Current Scenario of the Global Hyaluronic Acid Products Market

Hyaluronic acid is a natural substance found in the fluids of the eyes and joints. It acts as the lubricant in the joint and other tissues. Various forms of hyaluronic acid are used in cosmetics. The global hyaluronic acid products market has grown significantly in the past years due to its comprehensive utilization in the cosmetic and pharmaceutical industries. Hyaluronic acid provides various benefits to the skin, such as moisturization and softness, and significantly reduces aging symptoms, accelerating its adoption across the cosmetic industry. It also reduces pigmentation and brightens the skin by reducing wrinkles and fine lines on the skin, which is high in demand by the middle-aged population, especially among the female population. The global hyaluronic acid products market is projected to experience prominent growth in the coming years due to the aging population and the introduction of advanced technologies in the cosmetic industry. The ongoing trend of various minimally invasive procedures across the industry for a youthful appearance and the demand for rapid results are being fulfilled by hyaluronic acid products, which augment the future market. 

MARKET DRIVERS

The increasing use of hyaluronic acid products in dermatology and aesthetics for wrinkle augmentation and volume restoration therapies propels the global hyaluronic acid products market growth.

The growing demand for minimally invasive surgeries propels the sales of hyaluronic acid products. This has prompted some of the most well-known cosmetics companies to use hyaluronic acid as a significant ingredient. Croma-Pharma, for instance, has employed 1.8% hyaluronic acid in its face masks for skin renewal and radiance. In addition, consumers have shifted toward the idea of "prevention is better than cure" as the frequency of lifestyle-related disorders has increased, driving the hyaluronic acid market, particularly in areas such as dietary supplements for joint health.

Cosmetics and aesthetic procedures are becoming more popular as people become more aware of health and appearance standards. Mouth sores, dry eyes, and skin aging are all treated with hyaluronic acid. Many biological disciplines are evolving and steadily discovering the purpose of hyaluronic acid to create a helpful product that can help the market for hyaluronic acid products grow. The market is fast changing due to aesthetic operations' growing popularity in developed and emerging countries. The market growth is further expected to be fuelled by the increasing usage of hyaluronic acid surfaces in cardiovascular implants, such as stents and vascular grafts, to improve compatibility and increase awareness of anti-aging goods.

The global market for hyaluronic acid products is further expected to drive by the aging population, rising demand for minimally invasive therapies, and key manufacturers' introduction of innovative dermatological techniques.

Baby boomers, who seek solutions to assist them in avoiding or reducing aging-related diseases, are driving the hyaluronic acid market. Women focus on supplementation and functional food consumption because of health practitioner recommendations, thereby contributing to the market's growth. The growing popularity of the beauty aesthetic industry, combined with the widespread use of hyaluronic acid injections, masks, and fillers, is opening new market opportunities. In addition, the use of hyaluronic acid products in treating osteoarthritis is every day. Both large and small regional firms compete in the hyaluronic acid products industry. These businesses are concentrating on diversifying their portfolios to acquire a competitive advantage.

MARKET RESTRAINTS

The lack of competent professionals and dermal products is expected to hamper the growth rate of the global hyaluronic acid products market. Furthermore, most scar revision therapies for osteoarthritis, dermal applications, and other conditions necessitate repeated clinic visits throughout treatment. In addition, hyaluronic acid products are more expensive than other cosmetics. This is due to the difficulty of obtaining hyaluronic acid as a raw ingredient, which leads to greater manufacturing costs. This has been a challenge for producers to overcome.

Impact of COVID-19 on the global hyaluronic acid products market

COVID-19 is an unprecedented global public health crisis that has impacted practically every business. Its long-term effects are expected to influence industry growth during the forecast period. Shortly after the start of the pandemic, various industries were put on lockdown. Other OPDs' typical treatment options, such as dermatology, ophthalmology, and orthopedics, were restricted due to concerns about infections and mortality. During the COVID-19 pandemic, hyaluronic acid is effective for skin therapy. Since the requirement for sunbathing to overcome vitamin D deficiency has been implemented throughout this period, societal limits and self-isolation have been implemented. Sunshine has become a problem for skin health as it is a key predictor of premature skin aging. As of that, demand and supply for hyaluronic acid products were disrupted, resulting in a market that increased slowly and had favorable growth in the coming years.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

By Product Type, Application, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

Market Leaders Profiled

Allergan, Sanofi, Ferring B.V., Zimmer Biomet, Fidia Farmceutici, Salix Pharmaceutical, Anika Therapeutics, Seikagaku Corporation, Hoffmann-LA Roche Ltd, Alcon, Inc., Smith & Nephew plc

 

SEGMENTAL ANALYSIS

Global Hyaluronic Acid Products Market Analysis By Product Type

Based on product type, the three-cycle injection products segment accounted for a significant global market share and is expected to retain its position during the forecast period. Factors such as the growing number of three-cycle injection products in the market, increasing incidence of osteoarthritis, and rising usage of dermal fillers are contributing to the segment's growth. As a result, during the forecast period, the three-cycle injection products segment is anticipated to grow at a healthy CAGR of 7.12%.

On the other hand, the five-cycle injector products segment is projected to grow at a healthy CAGR during the forecast period and occupy a considerable share of the global market in 2022.

Global Hyaluronic Acid Products Market Analysis By Application

Based on the application, the dermal fillers segment dominated the market in 2023 and captured a notable global market share. The increasing adoption of technologically well-developed dermal filler products and growing spending by people on hyaluronic-based dermal fillers are propelling the segment's growth.

Based on the application, the osteoarthritis segment had given close competition to the dermal fillers segment and captured a considerable share of the global market in 2021. There has been a substantial upsurge in Osteoarthritis in recent years.

On the other hand, the vesicoureteral reflux segment is expected to account for a healthy market share over the forecast period owing to the increasing demand for a minimum invasive surgical process.

REGIONAL ANALYSIS

Regionally, the North American hyaluronic acid products market held the largest share in the global market in 2023, owing to the presence of key manufacturers of hyaluronic acid products. In addition, the growing aging population, increasing demand for minimum invasive cosmetic surgeries, favorable reimbursement policies, and regulatory approvals for intra-articular hyaluronic acid injections are anticipated to favor the growth rate of the North American market. As a result, the U.S is expected to lead the North American market, followed by Canada during the forecast period.

The European hyaluronic acid products market is forecasted to account for a promising global market share during the forecast period. Growing applications of hyaluronic acid for cosmetic and personal care products and increasing customer inclination towards physical appearance necessary for cosmetics and anti-aging products are expanding the European market. The Western European market is also rising, trailing the North American market closely. Germany and the UK are expected to occupy a market share of about 40% in the European market during the forecast period. Spain and France are expected to showcase healthy CAGR.

The Asia-Pacific hyaluronic acid products market is expected to have the highest growth rate in the global hyaluronic acid products market during the forecast period due to the growing awareness regarding hyaluronan applications and their efficiency. Moreover, an increasing number of cosmetic surgeries, the increasing necessity for medical tourism, and advancing healthcare infrastructure in existing countries like India and China are expected to foster market growth.

The hyaluronic acid products market in Latin America is deemed to have a steady CAGR during the forecast period.

The MEA hyaluronic acid products market is anticipated to grow at a moderate CAGR in the coming years.

KEY MARKET PARTICIPANTS

Companies playing a prominent role in the global hyaluronic acid products market profiled in this report are Allergan, Sanofi, Ferring B.V., Zimmer Biomet, Fidia Farmceutici, Salix Pharmaceutical, Anika Therapeutics, Seikagaku Corporation, Hoffmann-LA Roche Ltd, Alcon, Inc., Smith & Nephew plc and F.Merz Asthetics, Inc.

RECENT MARKET DEVELOPMENTS

  • In January 2020, Anika Therapeutics agreed to obtain Parcus Medical, a leading sports medicine company, and Arthrosurface. This agreement with both companies will increase commercial capabilities and infrastructure.
  • In February 2017, Zimmer Biomet announced the FDA acceptance of the extended 26-week capability claim for Gel-One hyaluronate to treat pain associated with knee osteoarthritis. Gel-One provides millions of patients with the ability for up to six months of pain relief with a single injection.
  • In November 2016, Seikagaku Corporation announced the distribution agreement in the U.S. for VISCO-3, which is a hyaluronic acid-based viscosupplement product. It determines three injections for the treatment of knee osteoarthritis with Zimmer Biomet Holdings, Inc. As the aging population in the US increases, the enlargement of viscosupplement products is expected to continue.

DETAILED SEGMENTATION OF THE GLOBAL HYALURONIC ACID PRODUCTS MARKET INCLUDED IN THIS REPORT

This research report on the global hyaluronic acid products market has been segmented and sub-segmented based on product type, application, and region.

By Product Type

  • Single Cycle Injection Products
  • Three-Cycle Injection Products
  • Five Cycle Injection Products

By Application

  • Osteoarthritis
  • Ophthalmic
  • Dermal Fillers
  • Vesicoureteral Reflux

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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Frequently Asked Questions

What was the size of the hyaluronic acid products market worldwide in 2023?

The global hyaluronic acid products market size was worth USD 10.05 billion in 2023.

Which region is growing the fastest in the global hyaluronic acid products market?

Asia-Pacific is the fastest-growing region in the global market during the forecast period.

Does this report include the impact of COVID-19 on the hyaluronic acid products market?

Yes, we have studied and included the COVID-19 impact on the global hyaluronic acid products market in this report.

Who are the key players in the hyaluronic acid products market?

Allergan, Sanofi, Ferring B.V., Zimmer Biomet, Fidia Farmceutici, Salix Pharmaceutical, Anika Therapeutics, Seikagaku Corporation, Hoffmann-LA Roche Ltd, Alcon, Inc., Smith & Nephew plc and F.Merz Asthetics, Inc. are some of the noteworthy companies in the hyaluronic acid products market.

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