Hyaluronic acid is a glycosaminoglycan polymer found throughout connective, epithelial, and neural tissues. Hyaluronic acid products are used in a variety of medical applications including osteoarthritis pain management, ophthalmic surgeries, dermal fillers, and others. They provide lubrication and cushioning in joints and act as a scaffold for tissue repair.
The global Hyaluronic Acid Products Market is estimated to be valued at US$ 3,343.5 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing preference for minimally invasive procedures is expected to drive the hyaluronic acid products market growth over the forecast period. Hyaluronic acid dermal fillers allow for tissue augmentation with minimal downtime and have largely replaced more invasive plastic surgeries among cosmetic procedure patients. They are also used in a wide variety of non-surgical anti-aging treatments. Non-surgical procedures offer benefits such as being less expensive than surgery and not requiring extensive recovery time. With rising health and beauty consciousness, the demand for non-surgical alternatives for aesthetic corrections is growing steadily. This growing adoption of minimally invasive techniques among consumers will boost the uptake of hyaluronic acid products in the coming years.
Segment Analysis
The global hyaluronic acid products market is segmented by application into dermal fillers, osteoarthritis, ophthalmic, and vocal cord augmentation. The dermal fillers segment is the dominating segment as hyaluronic acid products are widely used to reduce wrinkles, scar treatment, lip augmentation and for the overall enhancement of facial features.
Key Takeaways
The global hyaluronic acid products market is expected to witness high growth over the forecast period of 2023-2030. The global Hyaluronic Acid Products Market is estimated to be valued at US$ 3,343.5 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
Regional Analysis
North America region currently dominates the hyaluronic acid products market and is expected to continue its dominance during the forecast period. Higher per capita healthcare expenditure and increasing geriatric population are major factors driving market growth in the region. Asia Pacific region is expected to witness fastest growth over the forecast period due to increasing medical tourism, rising medical aesthetics procedures and improving access to healthcare.
Key players
Key players operating in the hyaluronic acid products market are Anika Therapeutics, Inc.,Fidia Farmaceutici S.p.A.,Sanofi S.A,Ferring B.V.,Viatris Inc.,Croma-Pharma,Seikagaku Corporation,Zimmer Biomet Holdingd,Lifecore Biomedical LLC,LG Chem,Bioventus LLC,Smith & Nephew plc,Shanghai Jingfeng Pharmaceutical Co., Ltd.,Nestle (Galderma),Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.),Allergan Plc.
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