Hyaluronic Acid Market Size to be Worth $16.8 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, Sept. 14, 2022 /PRNewswire/ -- The global hyaluronic acid market size is expected to reach USD 16.8 billion by 2030, expanding at a CAGR of 7.45%, according to a new report by Grand View Research, Inc. Factors, such as increasing concern of population regarding chemicals, desire to get quick and evident results, and shorter recovery time are high impact rendering drivers.
Key Industry Insights & Findings from the report:
- The osteoarthritis segment dominated the global industry and accounted for the maximum share of the overall revenue in 2021.
- The rising obesity resulting in osteoarthritis and joint pain has increased the demand for hyaluronic acid injections as a treatment.
- Hyaluronic acid acts as a shock absorber or a cushion and lubricates the joints, thus helping in proper functioning.
- There are a number of ophthalmic surgical products that use hyaluronan/hyaluronic acid as an active ingredient.
- These include Vitrax, Healon, Amivisc Plus, Amvisc, Hylan G-F20, and Opegan.
- The increasing prevalence of age-related eye diseases, dry eye syndrome, adult-vision impairments, and chronic diseases, such as diabetes, are major factors leading to segment growth.
Read 150-page full market research report, "Hyaluronic Acid Market Size, Share & Trends Analysis Report By Application (Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux), By Region (MEA, EU, North America, APAC), And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Hyaluronic Acid Market Growth & Trends
The industry is evolving rapidly due to the increasing adoption of aesthetic procedures in developed and developing regions. Increasing the use of hyaluronic acid surfaces in cardiovascular implants, such as stents and vascular grafts, for improving the compatibility coupled with the growing awareness about anti-aging products is fueling the growth.
The efficacy and evident results of hyaluronic acid-based dermal fillers are attracting this population base. Furthermore, the COVID-19 pandemic has changed the dynamics of many industries, with movement restrictions, social distancing, and revised practices becoming the "new normal." As the cosmetic industry is gradually resuming its operations, a number of doctors have reported a significant increase in the inquiries for aesthetic surgeries. Moreover, the lockdown has encouraged all professionals to use video-conferencing facilities, which has made people more conscious of their looks. In some cases, it has led people to opt for cosmetic treatments; this is termed the "Zoom Boom" or the "Zoom effect."
Cosmetic surgeons across the world have witnessed a significant increase in the number of patients as a result of the pandemic, particularly in countries, such as the U.S., Australia, and Japan. North America held the maximum revenue share in 2021. Preference for short-treatment regimens, even though high-priced, and the prevalence of target diseases, such as osteoarthritis, are the key factors attributed to the high share. In 2021, the most lucrative product applications in the North America region were in the form of dermal fillers and viscos supplements for the management of osteoarthritis. Asia Pacific is anticipated to register the fastest CAGR during the forecast period.
The growing geriatric population in China and Japan provide a large customer base for anti-aging products and services. Rising awareness about product applications and efficacy also fuels the demand. In addition, increasing disposable income levels are further supporting the region's expansion. Europe has undergone impressive changes over the last 2 years. The growing demand is witnessing increasing price competition owing to new entrants. The WHO recently announced the obesity epidemic in the U.K. and Germany. The relationship between the increasing aging population and obesity is a potential driver for the Europe regional sector.
Hyaluronic Acid Market Segmentation
Grand View Research has segmented the global hyaluronic acid market based on application and region:
Hyaluronic Acid Market - Application Outlook (Revenue, USD Million, 2017 - 2030)
- Dermal Fillers
- Osteoarthritis
- Single-injection
- Three-injection
- Five-injection
- Ophthalmic
- Vesicoureteral Reflux
Hyaluronic Acid Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
List of Key Players of the Hyaluronic Acid Market
- Allergan
- Sanofi
- Genzyme Corp.
- Anika Therapeutics, Inc.
- Salix Pharmaceuticals
- Seikagaku Corp.
- F. Hoffmann-La Roche Ag
- Galderma Laboratories L.P.
- Zimmer Biomet
- Smith & Nephew Plc
- Ferring B.V.
- Lifecore Biomedical, Llc
- HTL Biotechnology
- Shiseido Company, Ltd.
- Bloomage Biotechnology Corporation Ltd.
- LG Life Sciences Ltd (LG Chem.)
- Maruha Nichiro, Inc.
Check out more related studies published by Grand View Research:
- Hyaluronic Acid Raw Material Market - The global hyaluronic acid raw material market size is expected to reach a value of USD 7.25 billion by 2024, according to a new report by Grand View Research, Inc. The increasing use of hyaluronic acid in various medical applications, such as osteoarthritis, wound healing, postoperative adhesion, tympanic membrane repair, tumor diagnosis, fracture healing, and soft tissue repair is expected to fuel the market growth over the forecast period.
- Hyaluronic Acid-based Dermal Fillers Market - The global hyaluronic acid-based dermal fillers market size is expected to reach USD 5.9 billion by 2026, based on a new report by Grand View Research, Inc., registering a 7.4% CAGR during the forecast period. Rising emphasis on physical appearances, increasing demand from the aging population to look young and fit, and growing awareness regarding minimally invasive aesthetic procedures with faster recovery is expected to boost market growth during the forecast period.
- Facial Injectable Market - The global facial injectable market size is expected to reach USD 35.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 9.1% from 2022 to 2030. The facial injectable is a substance that is used to reduce wrinkles and restore volume and fullness in the face.
Browse through Grand View Research's Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc
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