Hyaluronic Acid Market projected to reach USD 14 Billion by 2030, growing at a CAGR of 7.6% during the forecast period of 2023-2030 – pronounced by MarketDigits in its recent study

The Global Hyaluronic Acid Market was valued USD 7.8 Billion in 2023 and projected to reach USD 14 Billion by 2030, growing at a CAGR of 7.6% during the forecast period of 2023-2030

Richmond, Feb. 14, 2024 (GLOBE NEWSWIRE) — According to a research report “Hyaluronic Acid Market, By Application (Osteoarthritis, Medicine, Pharmacists, Dentistry, Biomedical, Environmental and Chemistry, Food, Ophthalmic, Dermal Fillers), Distribution Channel (Drug Stores, Hospital Pharmacies, Speciality Clinics, Retail Pharmacies, Others) and Region – Global Forecast to 2030.

Global Hyaluronic Acid Market Report Scope:

Report Details
Market size value in 2023 USD 7.8 Billion
Market size value in 2030 USD 14 Billion
CAGR (2023-2030) 7.6%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Application, Distribution Channel, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
 
  • Anika Therapeutics, Inc.
 
  • Bioventus
Sample of Companies Covered
  • Bloomage Biotech Co., Ltd
 
  • DSM
 
  • Fidia Farmaceutici S.p.A.

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TOC Covers in Depth & Breath on Hyaluronic Acid Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

The hyaluronic acid market has seen considerable growth due to its various uses across different industries. Hyaluronic acid, a natural substance in the human body, is widely used in healthcare and cosmetics. In healthcare, hyaluronic acid is commonly used in orthopedic and eye surgeries because of its lubricating and cushioning properties. It’s also a key ingredient in skincare products, known for moisturizing and promoting skin elasticity, making it popular in anti-aging products. The growing aging population, increased awareness about skincare, and advancements in medical technologies contribute to the rising global demand for hyaluronic acid.

The cosmetic and personal care industry has also seen a rise in hyaluronic acid use, especially in products like moisturizers, serums, and dermal fillers. The market benefits from the growing trend of minimally invasive cosmetic procedures, where hyaluronic acid-based dermal fillers are commonly used for facial wrinkles and volume loss. The food and pharmaceutical industries are also exploring hyaluronic acid for various applications, adding to market growth. Despite positive trends, challenges related to production costs and raw material availability exist. However, ongoing research and development activities are expected to keep the market growing, driven by the increasing demand for versatile and high-performance ingredients across different industries.

Major Vendors in the Global Hyaluronic Acid Market:

  • Anika Therapeutics, Inc.
  • Bioventus
  • Bloomage Biotech Co., Ltd
  • DSM
  • Fidia Farmaceutici S.p.A.
  • Galderma Laboratories, L.P.
  • HTL
  • Kewpie Corporation
  • LG Chem
  • Lifecore Biomedical, Inc.
  • Plamed Green Science Group
  • Sanofi S.A.
  • SEIKAGAKU CORPORATION
  • Viatris Inc.
  • Zimmer Biomet Holdings

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Expanding Applications Of Hyaluronic Acid In The Food Industry

One of the primary drivers for the global hyaluronic acid market is the expanding applications of hyaluronic acid in the food industry. Hyaluronic acid, traditionally known for its roles in healthcare and cosmetics, is now finding applications in the food sector due to its unique characteristics. In the food industry, hyaluronic acid serves as a versatile ingredient with outstanding moisture retention and thickening abilities. Its capability to form stable gels enhances the texture of various food products such as sauces, dressings, and baked goods. Additionally, hyaluronic acid’s biocompatibility and non-toxic nature make it suitable for use in edible films and coatings, extending the shelf life of perishable products. The food industry’s increasing importance on healthier and functional ingredients has led to the exploration of hyaluronic acid’s potential health benefits. As the food industry continues to innovate and meet changing consumer preferences, incorporating hyaluronic acid into various food applications offers a promising avenue for developing functional and health-enhancing food products.

Market Dynamics

Drivers:

  • Increasing occurrence of joint disorders and osteoarthritis
  • Rising awareness about skincare and beauty products
  • Advancements in medical technologies

Opportunities:

  • Growing consumer preference for natural and organic skincare products
  • Increasing focus on joint health and wellness supplements
  • Rising adoption of minimally invasive cosmetic procedures
  • Ongoing research in regenerative medicine

Rinsing Consumer Preference For Organic And Natural Skincare Products

The rising consumer preference for natural and organic skincare products, provides a substantial opportunity for the hyaluronic acid market, particularly because of innovative immunotherapy. Consumers are increasingly inclined towards skincare solutions that incorporate natural and organic ingredients, driven by a heightened awareness of health and environmental sustainability. Hyaluronic acid, as a naturally occurring substance in the human body, fits well with this trend, positioning itself as a required-after component in skincare formulations. Its hydrating and anti-aging properties make it a valuable ingredient, meeting the demands of consumers looking for effective yet naturally derived solutions for their skincare routines. Regarding innovative immunotherapy, hyaluronic acid’s biocompatibility and biodegradability offer promising prospects. Researchers and industry players are exploring the potential of hyaluronic acid in immunotherapeutic applications, leveraging its unique properties to enhance drug delivery and modulate immune responses.

North America dominates the market for Hyaluronic Acid.

In North America, the hyaluronic acid (HA) market is experiencing strong growth due to increasing demand for anti-aging and cosmetic products. The well-established healthcare infrastructure and high consumer awareness about skincare contribute to the market’s expansion. Additionally, the prevalence of minimally invasive cosmetic procedures, where hyaluronic acid-based dermal fillers are widely used, further drives market growth. In the pharmaceutical sector, the rising incidence of joint disorders and osteoarthritis fuels the demand for hyaluronic acid in treatments and therapies. The North American market is marked by a focus on product innovation and the presence of key industry players, leading to continuous advancements in hyaluronic acid -based formulations.

In the Asia Pacific region, hyaluronic acid market is growing significantly, driven by increasing disposable income, changing lifestyles, and a growing emphasis on personal care. The cosmetic and beauty industry in countries like China, Japan, and South Korea plays a crucial role in the rising demand for HA, as consumers look for skincare solutions incorporating the ingredient. A rise in medical tourism in the region, especially for cosmetic procedures, boosts the use of HA. The Asia Pacific market is dynamic, characterized by a growing population, changing consumer preferences, and increased awareness of the benefits of hyaluronic acid across various applications, ensuring continued market expansion in the future.

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The Dermal Fillers Segment is anticipated to hold the Largest Market Share during the Forecast Period

In the global hyaluronic acid market, the application segment comprises various categories such as osteoarthritis, medicine, pharmacists, dentistry, biomedical, environmental and chemistry, food, ophthalmic, dermal fillers, and others. The dermal fillers stand out as a key factor driving the hyaluronic acid market, particularly within cosmetic dermatology. Dermal fillers, typically containing hyaluronic acid, play a vital role in addressing concerns like facial volume loss, wrinkles, and fine lines, resulting in a more youthful appearance. The rise in demand for these non-surgical aesthetic procedures is due to the increasing preference for minimally invasive treatments and the desire for natural-looking results. Hyaluronic acid’s ability to attract and retain moisture makes it an excellent choice for dermal fillers, offering immediate volume enhancement and stimulating collagen production. The appeal of hyaluronic acid-based dermal fillers lies in their safety, effectiveness, and reversibility, granting patients a level of control over their aesthetic outcomes. The global rise in demand for non-invasive cosmetic procedures is because the dermal fillers segment driver the overall hyaluronic acid market.

Segmentations Analysis of Hyaluronic Acid Market: –

  • By Application
    • Osteoarthritis
    • Medicine
    • Pharmacists
    • Dentistry
    • Biomedical
    • Environmental and Chemistry
    • Food
    • Ophthalmic
    • Dermal Fillers
    • Others
  • By Distribution Channel
    • Drug Stores
    • Hospital Pharmacies
    • Speciality Clinics
    • Retail Pharmacies
    • Others
  • By Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

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