WASHINGTON, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's findings of the Hyaluronic Acid market are that there is a great opportunity for growth in this market. The hyaluronic acid market is expected to reach $12.8 Billion by 2028, at a CAGR 7.2%.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Vantage also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Vantage Market research has a newly released expansive study titled Global Hyaluronic Acid Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Hyaluronic Acid report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one's rivals. It classifies the global Hyaluronic Acid market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the market and the Hyaluronic Acid industry as a whole appears to be quite positive during the projection period.
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Market Overview
The demand for hyaluronic acid market has been growing steadily in recent years. This is due to its many benefits, which include its ability to hydrate the skin, reduce wrinkles, and improve joint function. As people become more aware of these benefits, they are increasingly looking for ways to incorporate hyaluronic acid into their daily routines. In particular, hyaluronic acid has been shown to be an effective tissue filler and can be used to treat a number of conditions, such as osteoarthritis, wrinkles, and dry skin.
Top Players in Global Hyaluronic Acid Market
- Allergan (Ireland)
- Anika Therapeutics Inc. (U.S.)
- Bio Plus Co. Ltd. (South Korea)
- Bioxis Pharmaceuticals (France)
- Bohus Biotech AB (Sweden)
- Candela Medical (U.S.)
- Galderma Laboratories L.P. (U.S.)
- Genzyme Corp. (U.S.)
- NUVISAN GmbH (Germany)
- Laboratoires Vivacy (France)
- LG Chem (South Korea)
- Medicis Aesthetics Holdings Inc. (U.S.)
- Merz Pharmaceuticals (Germany)
- Sculpt Luxury Dermal Fillers Ltd. (U.S.)
- Sinclair Pharma (U.S.)
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Top 3 Factors Driving Growth of Hyaluronic Acid Market?
Rapidly Growing Application reduce pain osteoarthritis: The demand for hyaluronic acid market has been driven by the aging population and the growing awareness of the benefits of this biomaterial. In addition, the development of new treatments and applications for hyaluronic acid is expected to contribute to the growth of the market. For instance, recent studies have shown that injection of hyaluronic acid can help to improve joint function and reduce pain in patients with osteoarthritis.
Reduce inflammation and protect against environmental damage: In addition to being well-known for its hydration and anti-aging effects, hyaluronic acid is also being increasingly recognized for its ability to help reduce inflammation and protect against environmental damage. As more people become aware of these benefits, they are more likely to seek out products that contain this ingredient.
Growing popularity of natural and organic skin care products: As consumers become more concerned about the ingredients in their cosmetics and skincare products, they are gravitating towards products that are made with natural ingredients like hyaluronic acid. Many serums and creams contain hyaluronic acid, and it is often marketed as a “fountain of youth” ingredient. Hyaluronic acid can hold 1000 times its weight in water, so it is very effective at keeping the skin hydrated. It also helps to plump up the skin, reducing the appearance of fine lines and wrinkles.
With all of its potential benefits, it’s no wonder that the demand for hyaluronic acid is on the rise.
Key Findings:
- Based on the Application segment, the market is segmented into Aesthetics, Osteoarthritis, Active Pharmaceutical Ingredient, Cosmetics, Dietary Supplements, and Ophthalmology. The Osteoarthritis segment accounted for the highest market revenue in 2021 and is forecast to continue its dominance in the projection period.
- The Cosmetic Grade segment, from the Grade segmentation, is expected to dominate the Hyaluronic Acid Market. The segment is expected to be the dominant shareholder in the market growth in the forecast period.
- North America held the Hyaluronic Acid Market revenue in 2021 and is expected to be the most lucrative market in the coming years. This surge is because of the increasing popularity of cosmetic surgeries in this region. In addition, the growing aged population and the mounting consumer awareness in China and Japan are driving the regional market growth. Also, the increase in disposable income levels will propel regional development in the future.
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Segments Covered:
By Grade:
- Cosmetic Grade, Pharmaceutical Grade, Food Grade
By Application:
- Aesthetics, Osteoarthritis, Active Pharmaceutical Ingredient, Cosmetics, Dietary Supplements, Ophthalmology
By End Users:
- Pharmaceutical Industry, Dermatology Clinics, Cosmetic Surgery Centers, Food Industry, Personal Care
By Region:
- North America, Europe, Asia Pacific, Latin America, Middle East & Africa
North America Generates Over 40% Revenue of Global Hyaluronic Acid Market
North America is largest hyaluronic acid market, due to the high demand for both skincare products and aesthetic treatments such as dermal fillers. The aging population is a key driver of this demand, as they seek out ways to maintain a youthful appearance. In addition, there is also a growing trend among millennials for preventive skincare, which is helping to drive up sales of hyaluronic acid-based products.
The high demand for hyaluronic acid in North America hyaluronic acid market is expected to continue in the coming years, as more people look to maintain their youthful looks. This will likely lead to further innovation in both skincare products and aesthetic treatments using this versatile substance.
The demand for hyaluronic acid in the United States and Canada is higher than in any other country due to the high level of awareness of its benefits amongst consumers. This has led to a boom in the sales of skincare products containing hyaluronic acid, as people strive to achieve and maintain healthy, youthful-looking skin. Vantage Market Research's analysis shows that North America is projected to continue holding over 40% share of the global hyaluronic acid market in the years to come.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Hyaluronic Acid market Forecast Report (2022-2028).
Recent Developments
- The plum company entered the beauty industry in August 2021 with the introduction of a Hyaluronic Acid serum containing 2% of the ingredient to hydrate the skin. The company's goal in releasing this item is to increase its product offerings in the skincare market.
- Now that the cosmetics business is slowly getting back up and running, several doctors are reporting a surge in patients interested in cosmetic procedures. Additionally, since the pandemic hit the world, people have been forced to sit behind their screens leaving no time to focus on their appearance which has increased the usage of such procedures.
- In March of 2021, Royal DSM made the announcement that they would be releasing three distinct types of their HYA-ACT range of Hyaluronic Acid products onto the market. By adding these products, Royal DSM is better able to meet the increasing need for safe, non-invasive, and efficient cosmetics on the market.
- According to research featured in the Journal of Bone and Joint Surgery, since 2012, Medicare recipients with knee osteoarthritis have injected much more Hyaluronic Acid. Market expansion is being driven by rising demand for Hyaluronic Acid products.
- According to the statistics compiled by the International Society for Aesthetic Plastic Surgery (ISPAS), a total of 1.5 million people between the ages of 51 and 64 received botulinum toxin operations anywhere in the world in 2019. There is no doubt that these numbers will contribute to the Hyaluronic Acid industry's continued growth and expansion in terms of market value.
Asia Pacific to Witness Fastest Growth in Demand for Hyaluronic Acid
The Asia-Pacific region is expected to be the fastest growing hyaluronic acid market, due to the growing demand from China and India. Growth prospects for the market are particularly strong in Asia-Pacific, where sales are expected to grow at a rate of around 10.2% per year over the next seven years. This region is home to a large number of beauty-conscious consumers, who are willing to spend money on products that will improve their appearance. In addition, Asia-Pacific also has a rapidly growing medical tourism industry, which is anticipated to drive demand for hyaluronic acid injections from patients from developed countries who are seeking treatment at lower costs.
36% Consumers Willing to Pay More for Products Having Hyaluronic Acid
Vantage Market Research recently surveyed over 3,000 consumers about their use of skincare products containing hyaluronic acid. According to the survey, nearly 60% of respondents said they would like to try hyaluronic acid supplements. The most popular reasons for taking these supplements in the global hyaluronic acid market were joint health (cited by 38% of respondents) and skin health (cited by 30% of respondents).
Interestingly, the survey also found that people tend to be very satisfied with hyaluronic acid supplements: Nearly 70% of those who have tried them said they would recommend them to others.
68% of respondents said they were using products containing hyaluronic acid on a daily basis.
- 62% said they had seen an improvement in their skin after using these products.
- 54% said their skin looked more hydrated after using these products.
- 50% said their skin looked plumper after using these products.
- 46% said their skin looked less wrinkled after using these products.
Our survey on hyaluronic acid market found that 36% of respondents were willing to pay more for a product if it contained hyaluronic acid. This indicates that consumers are becoming increasingly aware of the benefits of this ingredient, and are willing to pay more for products that contain it. This trend is being driven by the growing popularity of Korean skincare and cosmetics, which often feature hyaluronic acid prominently in their formulations. Korean beauty products have become increasingly popular globally in recent years, thanks to their reputation for delivering high quality results.
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 8.5 Billion |
| Revenue Forecast by 2028 | USD 12.8 Billion |
| CAGR | 7.2% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Allergan, Anika Therapeutics Inc., Bio Plus Co. Ltd., Bioxis Pharmaceuticals, Bohus Biotech AB, Candela Medical, Galderma Laboratories L.P., Genzyme Corp., NUVISAN GmbH, Laboratoires Vivacy, LG Chem, Medicis Aesthetics Holdings Inc., Merz Pharmaceuticals, Sculpt Luxury Dermal Fillers Ltd., Sinclair Pharma |
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