The Global Hyaluronic Acid Products Industry is supposed to accomplish a valuation of US$ 3,343.5 million by 2023 and is projected to arrive at US$ 6,838.2 million by 2033, ascending at a CAGR of 7.4% during the gauge time frame.
As a result, the demand for minimally invasive treatment for diseases such as osteoarthritis and VUR stemmed. Manufacturers are introducing advanced intra-articular hyaluronic acid injections (IAHA) injections for minimally invasive pain management with minimal pain, short recovery time, and shorter hospital stay period.
The rising demand for minimally invasive treatment for the pain management of osteoarthritis and other chronic ailments has pushed the key players to introduce innovative hyaluronic acid products into the market. The conventional treatment regime for chronic diseases was often invasive, involving a certain amount of risk for patients with medical comorbidities. These treatment methods often result in long 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.
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.
“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 Global Hyaluronic Acid Products Industry,” says the FMI Analyst
Examining the study’s underlying assumptions. Ask the Expert
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The Global Hyaluronic Acid Products Industry 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.
Key Takeaways from Global Hyaluronic Acid Products Industry 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
Who is winning?
Manufacturers in the Global Hyaluronic Acid Products Industry are focusing on advanced IAHA injections, dermal filler, 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.
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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 the Global Hyaluronic Acid Products Industry
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 Global Hyaluronic Acid Products Industry 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.
Global Hyaluronic Acid Products Industry 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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