Hyaluronic Acid Market Overview:
The global hyaluronic acid market is growing rapidly, mainly due to the growth in the cosmetic surgery industry. Besides, large consumer markets of hyaluronic acid, including personal care products, F&B, and pharmaceuticals, drive the growth of the market exponentially. Cost-competitive economics is a key driving force behind the fast and successful market introduction of hyaluronic acid (HA).
A range of application areas is a key factor impacting the substantial market growth, which will continue in the coming years. According to Market Research Future (MRFR), the global hyaluronic acid market is poised to reach USD 18,153.6 Million by 2025, registering 7.02% CAGR throughout the review period (2019-2025). The market demand is increasing due to the increasing application of hyaluronic acid in the growing number of cosmetic surgeries.
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Additionally, the ever-increasing population that is continually creating a massive demand for quality healthcare is increasing the consumption of HA in pharmaceutical products. Also, the personal care and cosmetic industry absorb a considerable amount of hyaluronic acid each year. Moreover, the demand for convenience food led by the fast-paced lifestyle and the growing working population worldwide fosters market growth.
Hyaluronic Acid Market Major Players:
Players active in the global hyaluronic acid market include Symatese Group, Allergan, Contipro AS, Zhonglan Industry Co., Ltd, Fidia Farmaceutici SPA, Altergon Italia SRL, Bioiberica SAU, Seikagaku Corporation, Kewpie Corporation, and Anika Therapeutics, among others.
Global Hyaluronic Acid Market – Segmentation
The report is segmented into four dynamics;
By Grade: Cosmetic Grade, Pharmaceutical Grade, and Food Grade.
By Application: Aesthetics, Osteoarthritis, Pharmaceutical API, Cosmetics, Dietary Supplements, Ophthalmology, and others.
By End User: Pharmaceutical Industry, Dermatology Clinics & Cosmetic Surgery Centers, Food Industry, Personal Care, and others.
By Regions: Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global Hyaluronic Acid Market – Regional Analysis
North America dominates the global hyaluronic acid market. The largest market share attributes to the presence of major HA industry players and well-developed end-user industries such as food, pharmaceuticals, and cosmetic & personal care. Besides, increasing investments in the burgeoning pharmaceutical industry, rising R&D expenditures, and rising strategic deals of players in the region drive the market growth.
The US and Canada account for the significant contributors to the Regional market growth. Furthermore, the growing consumption of hyaluronic acid in rising applications is acting as a tailwind pushing up the HA market in the region. The North American hyaluronic acid market is projected to retain its leading position in the global market throughout the assessment period.
Europe stands second in the global hyaluronic acid market. The market is driven by the increasing application of hyaluronic acid in cosmetic & personal care products. Also, factors such as the growing consumption of HA in end-use industries like personal care and pharmaceuticals are acting as key drivers behind the regional market growth. Besides, the presence of major hyaluronic acid manufacturers in the region, impacts the market growth, positively meeting the demand for superior quality food additives. The European hyaluronic acid market is estimated to create a substantial revenue pocket over the review period.
The Asia Pacific hyaluronic acid market is emerging as a profitable market globally. Factors such as the growing urbanization and industrialization in the region push the growth of the market. Additionally, the increasing demand for hyaluronic acid and growing numbers of cosmetic surgeries in the region, fuel the market demand. Countries such as China, Indonesia, Malaysia, and India, backed by the raw material advantages contribute to the regional market growth exponentially.
Moreover, the widening uptake of hyaluronic acid in the food and cosmetic & personal products industry influences the growth of the regional market. Furthermore, the growing number of the working population augments the market demand, increasing the sales of on-the-go food products. The APAC hyaluronic acid market is projected to register a phenomenal CAGR during the forecast period.
Global Hyaluronic Acid Market – Competitive Analysis
The global hyaluronic acid market appears highly competitive due to the presence of several well-established players. To gain a larger competitive share, players incorporate strategic initiatives such as collaboration, mergers & acquisition, expansion, and product & technology launch.
Leading players also make substantial investments locally and in the emerging countries to expand their production capacity, distribution network, and supply chain. In such a scenario, obtaining strong financial support becomes the sole strategy of suppliers to sustain in the market. Manufacturers strive to minimize the cost of their products by adopting cost-effective manufacturing techniques.
Hyaluronic Acid Industry/ Innovation/ Related News:
May 12, 2020 —- Galderma SA (Switzerland), a leading global dermatology company, announced receiving FDA approval for Restylane® Kysse, A new hyaluronic acid (HA) filler. The Restylane Kysse is specifically designed and indicated to add fullness to the lips and help smooth the wrinkles above the mouth. Kysse is a hyaluronic acid filler categorized similar to Juvéderm and other Restylane products. This innovation here is that Kysse uses Galderma’s proprietary XpresHAn (expression) Technology. Restylane Kysse is already available in international markets, but now with the FDA approval, it will be sold in the United States markets.
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