Dublin, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The "Global Hyaluronic Acid Raw Material Market Analysis & Forecast To 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global hyaluronic acid raw material market is poised for substantial growth, with projections indicating a flourish from USD 7.05 billion in 2023 to USD 14.23 billion by 2034.
This trajectory translates to a strong Compound Annual Growth Rate (CAGR) of 6.59% throughout the period from 2024 to 2034. This vibrant expansion is largely underpinned by the enlarging geriatric population, a surge in innovative product introductions, and the growing affinity towards aesthetic procedures.
Market Dynamics:
Increases in surgeries, investments in new product development, and a rising demand for anti-aging solutions fuel the market. Additionally, there is an upsurge in the adoption of minimally invasive aesthetic treatments, prompting more product launches and regulatory approvals for hyaluronic acid-based products.
Technological Advancements:
The evolution in dermal fillers, exemplified by Galderma’s Restylane Eyelight, is characteristic of the advancements propelling market growth, with cutting-edge products granting approvals from agencies like the U.S. Food and Drug Administration (FDA).
Segmental Insights:
The pharmaceutical grade hyaluronic acid stood out as a major revenue source in 2023. This is a response to its singular capabilities like water retention and joint lubrication. Meanwhile, cosmetic applications are projected to surge as hyaluronic acid becomes a staple in skin hydration and anti-aging products. For example, products like Iris and Romeo's Reset Hyaluronic Acid + Niacinamide Serum Spray are setting industry trends by blending innovative ingredients for superior skin benefits.
Application Analysis:
- Orthopedics led the market applications in 2023, driven by a spike in arthritis-related treatments and innovative drugs.
- Drug delivery systems are expected to experience the fastest growth due to increased R&D and revolutionary meds like Allergan Aesthetics' SKINVIVE by JUVÉDERM.
End-User Insights:
Hospitals were the primary end-users, given their pivotal role in comprehensive care, especially in orthopedics. On the other hand, the escalating growth that cosmetic clinics are estimated to achieve is attributed to their vital role in hyaluronic acid treatments.
Regional Prospects:
North America remains at the forefront in revenue share, thanks to technology innovations and a robust healthcare infrastructure. Concurrently, the Asia Pacific region presents the most accelerated growth rate, driven by factors such as a burgeoning geriatric population, an increase in orthopedic disorders, and soaring product introductions like Laneige's Water Bank Hyaluronic range.
Key Segments:
- Grade: Orthopedic, Cosmetic, Pharmaceutical
- Application: Drug Delivery, Surgical Adhesion Prevention, Orthopedics, Ophthalmology, Dermatology
- End-user: Cosmetic Clinics, Hospitals, Others
- Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
As the hyaluronic acid raw material market advances, stakeholders across various industries are anticipating the myriad of opportunities that await in the coming decade.
With each stride in product innovation and regulatory approval, the promise of enhanced treatment options across medical and cosmetic applications brightens the horizon for this versatile substance.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $7.05 Billion |
| Forecasted Market Value (USD) by 2034 | $14.23 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Report Segmentation:
By Grade
- Orthopedic
- Cosmetic
- Pharmaceutical
By Application
- Drug Delivery
- Medical Device Coating
- Biomaterials And Implants
- Cell And Tissue Preservation
- Surgical Adhesion Prevention
- Orthopedics
- Bone Regeneration
- Viscosupplements
- Ophthalmology
- Contact Lens
- Cataract Surgery
- Aqueous Eye Drop
- Dermatology
- Dermal Filler
- Intradermal
- Wound Healing
By End-user
- Cosmetic Clinics
- Hospitals
- Other
Companies Profiled
- Zimmer Biomet
- Sanofi
- AbbVie Inc.
- Smith+Nephew
- SEIKAGAKU CORPORATION
- Anika Therapeutics Inc.
- Lifecore Biomedical Inc.
- F. Hoffmann-La Roche Ltd.
- Ferring B.V.
- Salix Pharmaceuticals
- LG Chem
- Maruha Nichiro Corporation
For more information about this report visit https://www.researchandmarkets.com/r/13pshz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
