The Global Hyaluronic Acid Products Industry is poised to achieve a valuation of US$ 3,343.5 million in 2023 and is anticipated to reach US$ 6,838.2 million by 2033, demonstrating a steady growth at a CAGR of 7.4% over the forecast period.
Consequently, there has been a surge in demand for minimally invasive treatments for conditions like osteoarthritis and VUR (Vesicoureteral Reflux). To address this need, manufacturers have introduced advanced intra-articular hyaluronic acid injections (IAHA), offering patients a minimally invasive approach to pain management with reduced discomfort, shorter recovery times, and decreased hospital stays.
The increasing demand for minimally invasive treatments for pain management in chronic ailments, such as osteoarthritis, has spurred major industry players to introduce innovative hyaluronic acid products into the market. Traditional treatment approaches for chronic conditions often involve invasive procedures, carrying inherent risks, especially for patients with medical comorbidities, and resulting in prolonged hospital stays.
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FMI has forecast dermal fillers to remain a key application segment, accounting for over 35% of sales in 2021. The dermatological application of hyaluronic acid also has seen a surge with the introduction of advanced dermal fillers, masks, and serums for application in restorative therapy and wrinkle augmentations.
Key Takeaways from Hyaluronic Acid Products Market Study
- The hyaluronic acid products market will expand at a CAGR of 6.1% between 2020 and 2030
- The U.S. will emerge as one of the leading markets, accounting for over 73% of sales in North America
- The U.K. will remain one of the key markets within Europe, registering 7.7% Y-o-Y growth in 2021
- The demand for Germany and France will continue rising at a positive rate
- Japan will emerge as a leading market in East Asia, followed by China and South Korea
Major Key Players:
- Anika Therapeutics, Inc.
- Fidia Farmaceutici S.p.A.
- Sanofi
- Ferring B.V.
- Viatris Inc.
- Croma-Pharma
- Seikagaku Corporation
- Zimmer Biomet
- Lifecore Biomedical, LLC
- LG Chem
- Bioventus LLC
- Smith & Nephew plc
- Shanghai Jingfeng Pharmaceutical Co., Ltd.
- Nestle (Galderma)
- Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.)
- Allergan Plc.
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“Increasing prevalence of chronic inflammatory diseases, increasing geriatric population, and advancements in hyaluronic acid products in terms of better efficacy and cost-effectiveness, are expected to drive the hyaluronic acid products market,” says the FMI Analyst
The global hyaluronic acid products market is set to expand its scope in the forecast period, as a result of the rising prevalence of chronic diseases and the expanding geriatric population. In addition to this, the rising demand for minimally invasive therapies and advancing aesthetic procedures and products are propelling the growth of the market.
Who is winning?
Manufacturers in the hyaluronic acid products market are focusing on advanced IAHA injections, dermal fillers, and other products. The delivery of hyaluronic acid to the target site has been made effective, precise, and minimally invasive. This is intended to ensure more effective pain management for various chronic and inflammatory diseases such as osteoarthritis. Many manufacturers are focused on developing advanced, effective, and affordable IAHA injections that come with advanced targeted delivery and minimal invasiveness.
For instance, Synvisc by Sanofi is effective for osteoarthritis pain. The advanced range of dermal fillers launched by Galderma of Nestlé, named Restylane covers a wide spectrum dermal application for volume restorative therapy, and Restylane Lyft is indicated for the wrinkle augmentation of the backside of the hand.
Valuable Insights into Hyaluronic Acid Products Market
Future Market Insights, in its new report, provides an unbiased analysis of the hyaluronic acid products market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the hyaluronic acid products market based on product type (single cycle injection, three cycle injection, five cycle injection), application (osteoarthritis, ophthalmic, dermal fillers, and vesicoureteral reflux), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and specialty clinics). Regionally the market covers North America, Europe, Latin America, East Asia, South Asia, Oceania, and the Middle East and Africa.
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Hyaluronic Acid Products Market by Category
Product
- Single Cycle Injection Products
- Three-Cycle Injection Products
- Five Cycle Injection Products
Application
- Osteoarthritis
- Ophthalmic
- Dermal Fillers
- Vesicoureteral Reflux
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Specialty Clinics
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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