The global Hyaluronic Acid market is expected to reach USD 16.48 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to growing applications of hyaluronic acid among the end-user industries.
Growing demand for dermal fillers is one of the significant factors influencing market growth. Hyaluronic acid occurs naturally in the human body, with the maximum concentrations in the skin, joints, and eyes. Hyaluronic acid helps in keeping skin hydrated by retaining the moisture in the skin. Injectable hyaluronic acid is deployed for the reduction of the appearance of wrinkles and fine lines, facial folds, and to provide volume to the lips, among others. These factors are causative of the increasing market growth.
According to the World Health Organization (WHO), from 2015 to 2050, the aged population across the globe will rise from 12% to 22% of the total global population. Owing to this, the incidence of target conditions such as osteoarthritis, among others, is expected to grow and, in return, will boom the market demand. An increase in healthcare expenditure across the globe also supports the adoption of the product.
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Further key findings from the report suggest
- By product type, high molecular weight hyaluronic acid held a considerable market in 2020. It possesses molecules equal to and larger than 1,500 kD and is unable to pass through the skin barrier. Nevertheless, it creates a film with the skin keratin on evaporation, which aids in moisturizing and enhances its elasticity.
- By application, osteoarthritis is likely to experience a growth rate of 7.4% in the forecast period. Hyaluronic acid may relieve or lessen inflammation owing to the wearing of the cartilage and bone in joints in patients of osteoarthritis. The injected acid aids to restore lubrication as well as promotes the growth of new bone and cartilage tissues in the joints.
- North America contributed to the largest market share in 2020 and is likely to grow at a rate of 6.8% in the forecast period. The market dominance of the North America region is owing to the growth of the end-user industries, such as the cosmetics and pharmaceutical industries along with the easy availability of the product in the region.
- Key participants include Sanofi SA, Galderma SA, Zimmer Biomet, Smith Nephew PLC, Lifecore Biomedical LLC, HTL Biotechnology, Allergan, Salix Pharmaceuticals Inc., Seikagaku Corporation, and Anika Therapeutics Inc., among others.
- In October 2019, Galderma, a leading market player in skin health emphasizing on developing groundbreaking aesthetic solutions, demonstrated Strong Aesthetic Innovation Pipeline with commencement of Seven New Clinical Studies. The company presents an innovative method to study the flexibility and firmness of hyaluronic acid fillers.
- In May 2020, Nestlé Skin Health announced the receiving of the FDA Approval of Restylane® Lyft for Hands, the First and Only Hyaluronic Acid (HA) Dermal Filler for Use in the Back of Hands, for the correction of volume loss in patients over the age of 21.
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For the purpose of this report, Reports and Data have segmented the global hyaluronic acid market on the basis of product type, application, distribution channel, and region:
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- High Molecular Weight Hyaluronic Acid
- Middle Molecular Weight Hyaluronic Acid
- Low Molecular Weight Hyaluronic Acid
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Dermal Fillers
- Food Additives
Distribution Channel Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- North America
- Asia Pacific
- Latin America
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