Hyaluronic Acid Market Size to Hit US$ 20.01 Bn by 2030 – Astute Analytica

CHICAGO, UNITED STATES, December 8, 2022 /EINPresswire.com/ -- Global Hyaluronic Acid Market revenue was US$ 7.94 Bn in 2021and the market is forecast to reach US$ 20.01 Bn by 2030. The market is growing at a CAGR of 11.53% during the forecast period from 2022 to 2030. In addition, in terms of volume, the global hyaluronic acid market will record the highest CAGR of 8.53% during the forecast period.

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A non-sulfated glycosaminoglycan, hyaluronic acid, another name is hyaluronan. The human body naturally produces it and circulates it in the epithelial, connective, and neural tissues. In order to maintain the tissues moist and well-lubricated, it balances the water content, which is a crucial function. It is produced in factories using specialized enzymes called hyaluronic synthases (HAS). Additionally, the industry is increasing due to the rising popularity of nonsurgical cosmetic methods like hyaluronic acid injectables and botox.

Market Influencing Factors

The rising demand for anti-aging cosmetics and aesthetic treatments is one of the main drivers of the global hyaluronic acid industry expansion. The hyaluronic acid market is rapidly changing owing to the increased demand for cosmetic procedures and rising lifestyle standards among the population worldwide in both developed and emerging nations. For instance, 17.7 million cosmetic treatments were performed in 2018, according to statistics from the Aesthetic Plastic Surgery journal released in 2020. Similarly, according to figures from the International Society of Plastic Surgery (ISPAS), in 2019, 1.5 million people between the ages of 51 and 64 got botulinum toxin operations globally. Such impressive numbers contribute to the increase in the market value of hyaluronic acid.

Additionally, the demand for anti-aging cosmetics, which, in turn, drives the hyaluronic acid market, is likely to expand as a result of technological advancements and higher R&D spending by major companies.

Additionally, an increase in the use of hyaluronic acid in osteoarthritis and dry eye offers lucrative growth prospects for the global industry. The hyaluronic acid sector primarily serves this particular demographic since the elderly population is more susceptible to bone fractures and accidents. For instance, research in the Journal of Bone & Joint Surgery found that from 2012 to 2018, Medicare enrollees used significantly more hyaluronic acid injections for knee osteoarthritis.

On the other hand, the rising costs and adverse side effects like redness and itching that are related to therapy or treatment may impede the growth of the global industry. People who receive hyaluronic acid injections may experience side effects like redness, pain, swelling, itching, and bruising.

Segmentation Summary

In 2021, on the basis of product, the injections segment dominated the global hyaluronic acid industry, and the segment is likely to reach a valuation of US$ 8.30 million by 2030. This is because they are effective, easy to use, and moderately affordable. Moreover, the powder segment will report the highest growth rate of 12.84% from 2022 to 2030. As an antioxidant, it protects against free radical damage and reduces inflammation.

In 2021, in terms of grade, the medical-grade segment acquired a maximum share of 45% in the global market because it has potential in pharmaceutical and medical device manufacturing as an excipient or an API in ocular formulations. On the other hand, the cosmetic grade will record an annual growth rate of 12.16% throughout the prediction course
due to its distinct viscoelastic properties, moisturizing effects, and low toxicity.

In 2021, on the basis of formulation, the HA + Lidocaine segment acquired a significant share in the global hyaluronic acid industry, and the segment is likely to reach an opportunity of US$ 7.7 billion. A common dermal filler for adding volume to the face is hyaluronic acid (HA) gel, which is also sometimes mixed with lidocaine to lessen the discomfort and severity of injections.

In 2021, in terms of application, the cosmetic segment held a dominant position in the global hyaluronic acid industry, and the segment will reach a volume of 1,473.10 metric tons by 2030. This is because it is widely used to manufacture lipsticks, eye and facial makeup, skincare products, and other cosmetic and personal care items. On the other hand, the osteoarthritis segment will project an annual growth rate of 9.88% from 2022 to 2030 because it offers individuals with osteoarthritis an efficient kind of treatment.

In 2021, on the basis of distribution channels, the hospital segment held the majority of the share of about 35% of the global market. However, the online pharmacies segment will record the highest growth rate of 12.8% throughout the prediction course.

In 2021, in terms of use segment, the non-medical segment led the global hyaluronic acid industry, and the segment will project a growth rate of 11.79% due to the rising usage of hyaluronic acid in food market space and personal care aesthetics.

Regional Insights

In 2021, in terms of region, North America dominated the global hyaluronic acid industry due to the robust healthcare sector owing to rising attentiveness and understanding among people. However, Asia Pacific will exhibit the highest compound annual growth rate of 12.64% from 2022 to 2030, owing to the growing population of the elderly. Due to rising investments in research and development, together with the expanding cosmetic sector in nations like Japan, Thailand, and China, the Asia-Pacific region is thought to have the fastest and greatest growth rates.

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Leading Companies
The leading prominent competitors in the global hyaluronic acid market are:
Galderma Genzyme Corp.
Zimmer bionet
Fidia Farmaceutici s.p.a
Smith & Nephew Plc
Life Core Biomedical LLC
Anika therapeutics
Sanofi
Bausch & Lomb Inc
Ferring B.V.
Evonic Industries AG F
Allergan plc
Other Prominent Players

Key Developments by these Players

In October 2020, Evonik Industries AG increases its array of bio-based active ingredients in order to address the rising demand for distinctive, sustainably sourced cosmetic and personal care products.

In March 2020, Galderma declared major investments throughout its aesthetic portfolio, including an increase in its U.S. salesforce and digital upgrades to ASPIRE Galderma Rewards. Galderma and the upscale skincare company ZO Skin Health have also begun working together.

In April 2019, Allergan plc, at the 17th Aesthetic & Anti-Aging World Congress in Monaco, introduced Juvederm VOLUX. The newest advancement in face filler treatments uses the exclusive proprietary VYCROSS technology and contains hyaluronic acid for individuals who want a more defined chin and jawline.

Segmentation Outline

The global hyaluronic acid market segmentation focuses on Product, Grade, Formulation, Application, Distribution Channel, Use, and Region.

By Product Segment
Pills
Liquid
Injections
o Single Cycle Injection
o Three Cycle Injection
o Five Cycle Injection
Powder
Others

By Grade Segment
Medical Grade
Food Grade
Cosmetic Grade

By Formulation Segment
HA + Lidocaine
HA

By Application Segment
Aesthetics
Osteoarthritis
Pharmaceutical API
Cosmetics
Dietary Supplement
Ophthalmology
Others

By Distribution Channel Segment
Hospitals
Specialty Clinics
Retail Pharmacies
Online Pharmacies

By Use Segment
Medical Use
o Dermatology Clinics
o Cosmetic Surgery Centers
o Pharmaceutical Industry
Non-Medical Use
o Food Industry
o Personal Care

By Region Segment
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

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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Astute Analytica
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