The size of the Hyaluronic Acid Products market in North America was around USD 3.47 Billion in 2023. It is expected to grow at a CAGR of 8.71% to reach 5.28 Billion by 2028.
Hyaluronic acid, also known as hyaluronan, is a substance found naturally in human skin that helps retain moisture, keeping skin hydrated and plumped. North America, dominated by Mexico, Canada, and the United States, hyaluronic acid market size is expected to increase during the projected period. Due to the high health awareness and rapid acceptance of new skincare treatments and technologies, the robust healthcare industry is expected to increase the demand for products in this region.
North America is likely to dominate the global hyaluronic acid market during the forecast period. The growth in this region can be attributed to the strong demand for the pharmaceutical industry product. For example, the presence of a large pharmaceutical base in the United States is a crucial driver for the regional market's growth. According to the European Federation of Pharmaceutical Associations and Industries (EFPIA), North America accounted for 49.7% of global pharmaceutical sales in 2020. Besides, the United States invested approximately US $ 57.812 million in drug spending. Pharmaceutical R&D, which recorded an annual growth rate of 9.1%. Also, many key companies in the market are acquiring regional suppliers to strengthen their market position.
Hyaluronic acid products are more expensive than regular cosmetics. This is usually due to the fact that hyaluronic acid is difficult to obtain as raw material and results in higher manufacturing costs. It is an obstacle that producers are trying to solve.
This research report on the North America Hyaluronic Acid Products Market has been segmented and sub-segmented into the following categories:
Geographically, North America had occupied the maximum number of shares in the global market in 2019. Significant manufacturers and improved reimbursement towards health care have made North America the primary market holder globally.
In 2020, the North America region occupied 51% of the global hyaluronic acid products market by revenue. The North American market's dominance for hyaluronic acid products can be assigned to the region's hyaluronic fillers market. Celebrities and famous personalities are promoting the use of hyaluronic products in the area. North America is experiencing tremendous growth in the hyaluronic acid market due to the increasing demand for medical and cosmetic treatments. The health sector in the region is well advanced, and there are several high-quality medical facilities. Consumers in this region place more importance on anti-aging treatments such as plastic surgery. In turn, it will stimulate the demand for hyaluronic acid (HA) in the area. Besides, the uptake of HA will also increase with the increase in cases of osteoarthritis.
Notable companies leading the North America Hyaluronic Acid Products Market 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.
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