New Delhi, June 14, 2022 (GLOBE NEWSWIRE) -- The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for Global hyaluronic acid market from US$ 7.94 Billion in 2021 to US$ 20.01 Billion by 2030. The market is anticipated to grow at a CAGR of 11.53% during the forecast period 2022-2030. Moreover, in terms of volume, the global hyaluronic acid market is expected to project a CAGR of 8.53% during the forecast period 2022-2030.
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The viscoelasticity, moisture retention capacity, biocompatibility, and hygroscopic are the characteristics of hyaluronic acid. Hyaluronic acid functions as a lubricant, shock absorber, joint structure stabilizer, and water balance and flow resistance regulator due to these qualities. Injectable hyaluronic acid is used to diminish the appearance of fine lines and wrinkles, as well as facial creases, and to provide the face and lips structure, framework, and volume. Injectable hyaluronic acid produces instant results. Moreover, the natural aging process, tobacco, smoking, and pollution can reduce the amount of hyaluronic acid present in human skin.
In terms of product, the injections segment held the largest share in the hyaluronic acid market in 2021. Whereas, the powder segment is anticipated to grow at the highest CAGR over the forecast period. Moreover, based on grade, the medical-grade segment is estimated to hold the largest market share in 2021. Whereas a cosmetic grade is expected to project the highest CAGR during the forecast period. Furthermore, on the basis of formulation, the HA + Lidocaine segment dominated the hyaluronic acid market in 2021 and is also expected to project the highest CAGR over the forecast period. In addition, by application, the cosmetic segment dominated the hyaluronic acid market in 2021. While the osteoarthritis segment is expected to grow at the highest CAGR during the forecast period. Moreover, by distribution channel, the hospital segment holds the largest share in the hyaluronic acid market in 2021. Also, based on use, the non-medical segment dominated the hyaluronic acid market in 2021 and is also expected to project the highest CAGR over the forecast period.
Market Dynamics and Trends
Drivers
Increasing demand for anti-aging cosmetics and aesthetic treatments will boost the global hyaluronic acid market during the forecast period. Hyaluronic acid adds volume to the skin and improves face expression while remaining natural. Hyaluronic acid is injected into the skin in extremely small amounts with a very fine needle. Moreover, the increasing awareness of anti-aging goods and increased demand for hyaluronic-based products such as moisturizers, dermal fillers, shampoo, and others will further boost the market demand.
Restraints
The hyaluronic acid market is expected to be hampered by adverse effects related to treatment or therapy such as redness and itching, as well as an increase in the price of hyaluronic acid products. Hyaluronic acid, on the other hand, might cause negative side effects including allergic reactions in certain people.
Global Hyaluronic Acid Market Region Wise Insights
- North America Hyaluronic Acid Market-
The US holds the major share in terms of revenue in the North America hyaluronic acid market in 2021 owing to strong healthcare industry. Whereas, Canada is projected to grow with the highest CAGR during the forecast period due to the presence of leading manufacturers.
- Europe Hyaluronic Acid Market-
Germany is the highest shareholder region in 2021, whereas, Italy is projected to grow with the highest CAGR of 13.29% over the forecast period. Moreover, among the product, injections hold the major share in terms of revenue in the Europe hyaluronic acid market during the forecast period.
- Asia Pacific Hyaluronic Acid Market-
China is the highest shareholder region, and Japan is projected to grow with the highest CAGR of 14.11% in the Asia Pacific hyaluronic acid market owing to increasing consumer awareness in the region and the rise in the elderly population. Moreover, based on grade, medical grade contributed the major share in the Asia Pacific hyaluronic acid market in 2021. Where the cosmetic grade in Asia Pacific hyaluronic acid is expected to grow at the highest CAGR over the forecast period.
- Middle East & Africa Hyaluronic Acid Market-
Saudi Arabia is the highest shareholder country in MEA hyaluronic acid market in 2021. Whereas, UAE is projected to grow with the highest CAGR of 10.75% during the forecast period in the MEA hyaluronic acid market. Moreover, by application, the cosmetic segment holds the major share in the Middle East & Africa hyaluronic acid market in 2021. Whereas the osteoarthritis segment is projected to grow at the highest CAGR during the forecast period.
- Latin America Hyaluronic Acid Market-
Brazil is the highest shareholder country in the Latin America hyaluronic acid market in 2021. Whereas Argentina is projected to grow with the highest CAGR of 10.32% over the forecast period. Furthermore, on the basis of distribution channel, the hospital segment holds the major share in the Latin America hyaluronic acid market, while online pharmacies are expected to project the highest CAGR during the forecast period.
Recent Developments by Major Players
- In April 2019: Allergan plc launched Juvederm VOLUX at the 17th Aesthetic & Anti-Aging World Congress (AMWC) in Monaco. The latest innovation in facial filler treatments is for those, who are seeking a more defined chin and jawline as it contains hyaluronic acid and uses the unique patented VYCROSS technology.
- In October 2020: Evonik Industries AG expands its bio-based portfolio of active ingredients to meet the growing demand for sustainable cosmetic and personal care products to meet the growing demand for differentiated, sustainably sourced products.
- In March 2020: Galderma announced significant investments across its aesthetic portfolio including digital enhancements to ASPIRE Galderma Rewards and an expansion of its U.S. salesforce. Additionally, Galderma has launched a collaboration with premium skincare brand ZO Skin Health.
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| Report Attribute | Details |
| Market Size Value in 2021 | US$ 7.94 Billion |
| Market Outlook for 2030 | US$ 20.1 Billion |
| Expected CAGR Growth | 11.53% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Top Market Players | Allergan plc, Zimmer bionet, Smith & Nephew Plc, Anika Therapeutics, Sanofi, Bausch & Lomb Inc, Evonic Industries AG F., Ferring B.V., Life Core Biomedical LLC, and Fidia Farmaceutici s.p.a among others |
| Segments Covered | By Product, By Grade, By Formulation, By Application, By Distribution Channel, By Use, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Customization Options | Get your customized report as per your preference. Ask for customization |
Competitive Insight
Global Hyaluronic Acid Market is highly competitive in order to increase its presence in the marketplace. Some of the key players operating in the market include Allergan plc, Zimmer bionet, Smith & Nephew Plc, Anika Therapeutics, Sanofi, Bausch & Lomb Inc, Evonic Industries AG F., Ferring B.V., Life Core Biomedical LLC, and Fidia Farmaceutici s.p.a among others.
Segmentation Overview
Global Hyaluronic Acid Market is segmented based on product, grade, formulation, application, distribution channel, use, and region. The industry trends in the global hyaluronic acid market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Hyaluronic Acid Market:
By Product segment of the Global Hyaluronic Acid Market is sub-segmented into:
- Pills
- Liquid
- Injections
- Single Cycle Injection
- Three Cycle Injection
- Five Cycle Injection
- Powder
- Others
By Grade segment of the Global Hyaluronic Acid Market is sub-segmented into:
- Medical Grade
- Food Grade
- Cosmetic Grade
By Formulation segment of the Global Hyaluronic Acid Market is sub-segmented into:
- HA + Lidocaine
- HA
By Application segment of the Global Hyaluronic Acid Market is sub-segmented into:
- Aesthetics
- Osteoarthritis
- Pharmaceutical API
- Cosmetics
- Dietary Supplement
- Ophthalmology
- Others
By Distribution Channel segment of the Global Hyaluronic Acid Market is sub-segmented into:
- Hospitals
- Specialty Clinics
- Retail Pharmacies
- Online Pharmacies
By Use segment of the Global Hyaluronic Acid Market is sub-segmented into:
- Medical Use
- Dermatology Clinics
- Cosmetic Surgery Centres
- Pharmaceutical Industry
- Non-Medical Use
- Food Industry
- Personal Care
By Region segment of the Global Hyaluronic Acid Market is sub-segmented into:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Argentina
- Brazil
- Rest of Latin America
To gain more insights into the market with a detailed table of content and figures, click here: https://www.astuteanalytica.com/industry-report/hyaluronic-acid-market
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