Newark, New Castle, USA, July 03, 2023 (GLOBE NEWSWIRE) -- A recent report by Growth Plus Reports estimated the global hyaluronic acid products market to be worth US$ 9.8 billion in 2022. From 2023 to 2031, market revenue is expected to grow at a CAGR of 8.7%, reaching US$ 18.32 billion. The most successful strategies, market trends, the competitive environment, significant drivers and opportunities, statistical data, market size, and revenue are all included in the report.
Key Takeaways:
- Social media and beauty influencers are driving market revenue growth.
- The launch of novel products by market players is boosting the revenue share.
- Significant R&D activities with hyaluronic acid create a string product pipeline.
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Hyaluronic Acid Products Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 9.8 billion |
| Revenue forecast in 2031 | US$ 18.32 billion |
| Growth Rate | CAGR of 7.2% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Application, End-user, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Market Drivers:
The rising geriatric population and rising demand for anti-aging products drive market revenue growth of hyaluronic acid products. Furthermore, technical advancements and innovations of new hyaluronic acid products are expanding market revenue growth.
Market Segmentation:
Growth plus reports have analyzed the global hyaluronic acid products market from perspectives such as application, end-user, and region.
Application Segmentation:
Based on the application, the global hyaluronic acid products market is segmented into dermal fillers, osteoarthritis, ophthalmic, and vesicoureteral reflux.
The osteoarthritis segment dominates the hyaluronic acid products market with the largest revenue share. The rising prevalence of osteoarthritis increases the demand for effective treatment in pain relieving, and improving joint functions, boosting the segment's revenue growth. The dermal filler segment is expected to rise with significant revenue share during the forecast period due to its wide applications in enhancing facial features.
End-User Segmentation:
Based on end-user, the global hyaluronic acid products market is segmented into the personal care industry, pharmaceutical industry, and others.
The personal care segment accounts for the largest revenue share in the hyaluronic acid products market. This high revenue share is attributed to a wide range of products, such as serums, masks, moisturizers, and anti-aging creams containing hyaluronic acid. These products are popular among consumers looking for an effective and safe solution to improve the health and appearance of their skin.
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Regional Growth Dynamics:
Based on regions, the global hyaluronic acid products market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is expected to account for the largest market revenue share during the forecast period. This rise in revenue share is attributed to the strong demand for hyaluronic acid products, increasing demand for anti-aging products, and increasing interest in natural and organic skincare products.
Competitive Landscape:
The prominent players operating in the global hyaluronic acid products market are:
- Lifecore Biomedical
- Salix Pharmaceuticals
- F. Hoffmann-La Roche Ltd
- Zimmer Biomet
- HTL Biotechnology
- Lifecore Biomedical, Llc.
- Allergan plc (AbbVie)
- Sanofi S.A.
- Anika Therapeutics, Inc.
- Contipro AS
- Smith & Nephew Plc
- Galderma Laboratories L.P.
- Ferring B.V.
- Seikagaku Corporation
New product releases and higher R&D spending are two main techniques used by significant players to get a larger market revenue share. Both domestic and international companies that manufacture hyaluronic acid products are concentrating on launching unique products while expanding their R&D efforts and monitoring the entry of new competitors.
Recent Advancements:
- In February 2023, a filler from Maypharm, called MayFill, features lidocaine for a comfortable application and multi-layered phasic hyaluronic acid based on novel R2 technology (rotation and revolution). Two layers of multi-layered Phasic hyaluronic acid fillers coexist in the body, gradually producing even more natural effects.
- In March 2021, Hyaluronic acid was introduced in three distinct forms by Royal DSM. DSM expands its offering of hyaluronic acid with the introduction of the HYA-ACT line to address consumer demand for less intrusive, dependable, and potent cosmetic care products. The three hyaluronic acid types offer important advantages, supply customers' desired efficacy, and give them the desired increase in appearance.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL HYALURONIC ACID PRODUCTS MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Dermal Fillers
- Osteoarthritis
- Ophthalmic
- Vesicoureteral reflux
- GLOBAL HYALURONIC ACID PRODUCTS MARKET - ANALYSIS & FORECAST, BY END-USER
- Personal Care Industry
- Pharmaceutical Industry
- Others
HYALURONIC ACID PRODUCTS MARKET TOC
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- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
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