Global Hyaluronic Acid Market is estimated to witness a rise in revenue from US$ 7.94 Bn in 2021 to US$ 20.01 Bn by 2030. The market is registering a CAGR of 11.53% during the forecast period 2022-2030. Moreover, in terms of volume, the global hyaluronic acid market is expected to project a CAGR of 8.53% during the forecast period 2022-2030.
Hyaluronic acid, also known as hyaluronan is a non-sulfated glycosaminoglycan. It is naturally produced in the human body and is circulated generally in epithelial, connective, and neural tissues. Its vital function is to balance the water content to keep your tissues moist and well-lubricated. It is commercially synthesized using specific enzymes known as hyaluronic synthases (HAS) in the lab. Moreover, the growing adoption of nonsurgical cosmetic procedures including botox and hyaluronic acid injectables is driving the market.
Market Dynamics
The major factor responsible for the growth of the global hyaluronic acid market includes the increasing demand for anti-aging cosmetics and aesthetic treatments. Due to the growing popularity of aesthetic operations and rising lifestyle standards among the global population in both developed and emerging countries, the hyaluronic acid market is evolving dramatically. Also, the technological developments and increased investment in R&D by leading players in order to create safe and effective skincare solutions are likely to boost the anti-aging cosmetics demand, which in turn fuels the hyaluronic acid market. Moreover, an increase in usage of hyaluronic acid in osteoarthritis and dry eye creates a lucrative growth trend for the hyaluronic acid market. The older population is particularly more vulnerable to bone injuries and fractures; hence the hyaluronic acid industry majorly caters to this particular segment. However, the high costs and side effects related to treatment or therapy such as redness and itching restrict the hyaluronic acid market growth. Side effects such as pain, redness, itching, swelling, and bruising may be experienced by people who receive hyaluronic acid injections.
Report Summary
The study of the global hyaluronic acid market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the salmon industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the global hyaluronic acid market across 17 Chapters and 209 pages. The report includes data presentation across 77 tables and 77 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the bargaining power of buyers and competitive rivalry is high.
The subsequent section provides details of the market analysis based on different segments such as product, grade, formulation, application, distribution channel, use, and region. The report includes a detailed study of the value chain of the industry. It includes raw material procurement, manufacturing, distributors, and end-users. The report also covers extensively the key competitors in the market for Global hyaluronic acid.
Impact of COVID-19 on Global Hyaluronic Acid Market
COVID-19 had a severe impact on the hyaluronic acid market as their demand decreased during the pandemic as a result of the lockdown. Additionally, due to the increasing transportation charges and growing prices for raw steel and other raw materials, the prices of hyaluronic acid have increased.
Moreover, several manufacturing units and industries’ implementation have gone on hold as there was a shortage of raw materials. Moreover, since hyaluronic acid is mostly used in cosmetics and healthcare among others, the manufacturers suffered a heavy loss due to a decrease in cosmetics production globally.
Key Takeaways from the Global Hyaluronic Acid Market Report
Competitive Landscape
The key players in the global hyaluronic acid market are Allergan plc, Zimmer bionet, Smith & Nephew Plc, Anika Therapeutics, Sanofi, Bausch & Lomb Inc, Evonic Industries AG F., Ferring B.V., Life Core Biomedical LLC, and Fidia Farmaceutici s.p.a among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
Global Hyaluronic Acid Market is segmented based on product, grade, formulation, application, distribution channel, use, and region. The industry trends in the global hyaluronic acid market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Hyaluronic Acid Market:
By Product segment of the Global Hyaluronic Acid Market is sub-segmented into:
By Grade segment of the Global Hyaluronic Acid Market is sub-segmented into:
By Formulation segment of the Global Hyaluronic Acid Market is sub-segmented into:
By Application segment of the Global Hyaluronic Acid Market is sub-segmented into:
By Distribution Channel segment of the Global Hyaluronic Acid Market is sub-segmented into:
By Use segment of the Global Hyaluronic Acid Market is sub-segmented into:
By Region segment of the Global Hyaluronic Acid Market is sub-segmented into:
Market Size Value in 2021 | US$ 7.94 Billion |
Expected Revenue in 2030 | US$ 20.1 Billion |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Unit | Value (USD Bn) |
CAGR | 11.53% |
Segments covered | By Product, By Grade, By Formulation, By Application, By Distribution Channel, By Use, By Region |
Key Companies | Allergan plc, Zimmer bionet, Smith & Nephew Plc, Anika Therapeutics, Sanofi, Bausch & Lomb Inc, Evonic Industries AG F., Ferring B.V., Life Core Biomedical LLC, and Fidia Farmaceutici s.p.a among others |
Customization Scope | Get your customized report as per your preference. Ask for customization |
Faster recovery times, lower discomfort, fewer side effects, and less post-surgical complications, minimally invasive antiaging therapies had a significant impact on the growth of hyaluronic acid products.
The viscoelasticity, moisture retention capacity, biocompatibility and hygroscopic are the characteristics of hyaluronic acid.
Injectable hyaluronic acid is used to diminish the appearance of fine lines and wrinkles, as well as facial creases, and to provide the face and lips structure, framework, and volume.
Natural aging process, tobacco, smoking and pollution can reduce the amount of hyaluronic acid present in human skin.
The Global Hyaluronic Acid market is projected to grow at a CAGR of 11.53% during the forecast period 2022-2030 and is expected to reach US$ 20.01 Billion by 2030.
Factor such as increasing demand for anti-aging cosmetics and aesthetic treatments drive the growth in the global hyaluronic acid market over the forecast period.
The online pharmacies segment holds the largest CAGR in the global hyaluronic acid market during the forecast period.
Asia-Pacific region is growing with the fastest CAGR during the forecast period.
High costs and side effects connected with treatment or therapy such as redness and itching restrict the hyaluronic acid market growth during the forecast period.
The US holds the major share in terms of revenue in the North America hyaluronic acid market.
Increase in usage of hyaluronic acid in osteoarthritis and dry eye creates a lucrative growth trend for the hyaluronic acid market.
Product, grade, formulation, application, distribution channel, use, and region are the different segments in the global hyaluronic acid market.
Allergan plc, Zimmer bionet, Smith & Nephew Plc, Anika Therapeutics, Sanofi, Bausch & Lomb Inc, Evonic Industries AG F., Ferring B.V., Life Core Biomedical LLC, and Fidia Farmaceutici s.p.a among others.