Global Hyaluronic Acid Products Market to Soar to US$ 6,838.2 Million By 2033, Riding On The Wave of Cosmetic Products

North America leads in hyaluronic acid products market with robust healthcare, awareness, aging population, and cosmetic surgery demand.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, September 21, 2023 /EINPresswire.com/ -- The global hyaluronic acid products market is expected to attain a valuation of US$ 3,343.5 Million in 2023 and is projected to reach US$ 6,838.2 Million by 2033. The market is expected to register a CAGR of 7.4% during the forecast period. The hyaluronic acid products market is anticipated to be propelled by new research and development activities in the market by manufacturers.

Bioventus introduced its new joint lubricant, Durolane, in the United States in March 2018, for alleviating knee osteoarthritis pain with a single injection. Bioventus is the only company in the United States market that offers one injection (Durolane), three injections (Gelsyn-3), and five injections (Supartz FX) hyaluronic acid options for treating knee osteoarthritis pain.

In response to rising consumer demand for anti-aging and multi-functional personal care products, many personal care product manufacturers are incorporating multiple functional ingredients into a single product. These factors are expected to contribute to the growth of the market during the forecast period.

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The aging population has created a significant demand for non-invasive procedures, leading to increased adoption of hyaluronic acid-based dermal fillers that offer an alternative to traditional surgeries. Moreover, the cost of such treatments is minimal, thereby contributing to the growth of the market.

The global hyaluronic acid products market growth is experiencing significant due to the high usage of anti-aging cosmetic products. For instance, in 2018, there were 17.7 Million cosmetic procedures performed, according to the Aesthetic Plastic Surgery statistics published in 2020. Similarly, in 2019, the International Society of Plastic Surgery (ISPAS) reported that 1.5 Million individuals aged 51-64 years underwent botulinum toxin procedures worldwide. These high statistics are contributing to the increasing market value of the hyaluronic acid market.

Key Takeaways:

North America is expected to dominate the market while growing with a CAGR of 7.1% during the forecast period.

The market in India is projected to witness a CAGR of 7.8% during the forecast period.

The market in China is expected to grow at an 8.8% CAGR during the forecast period.

By product type, three cycle injection segment is projected to lead the segment and is estimated to grow with a CAGR of 7.01% during the forecast period.

By distribution channel, the hospital pharmacies segment is expected to lead the market. It is expected to grow with a CAGR of 6.8% throughout the forecast period.

“Rising demand for non-invasive procedures and anti-aging personal care products are expected to fuel growth in the market during the forecast period,” suggests an analyst at FMI.

Competitive Landscape:

The hyaluronic acid products market is extremely competitive and consists of various key industry players. These players are heavily investing in the hyaluronic acid products market.

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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Few recent developments:

In February 2022, AbbVie Inc.'s subsidiary Allergan received Food and Drug Administration’s approval for JUVÉDERM VOLBELLA XC, which can improve infraorbital hollows in adults over 21 years old. This expanded the company's aesthetic product portfolio in the United States market.

In February 2021, Contipro, a well-known manufacturer of hyaluronic acid-based in the Czech Republic, introduced a new product for anti-aging and anti-acne treatment called HyRetin, which helps in improving skin appearance.

Anika Therapeutics announced its acquisition of Parcus Medical, a leading sports medicine company, and Arthrosurface in January 2020. The acquisition is expected to enhance Anika's commercial capabilities and infrastructure.

More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global hyaluronic acid products market, providing historical data for 2017 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the hyaluronic acid products market, the market is segmented on the basis of product type, by application, by distribution channel, by region.

Key Segments Profiled:

By Product:

Single Cycle Injection Products
Three Cycle Injection Products
Five Cycle Injection Products

By Application:

Osteoarthritis
Ophthalmic
Dermal Fillers
Vesicoureteral Reflux

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Drug Stores
Speciality Clinics

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

Hyaluronic Acid Personal Care Products Market Size: The global hyaluronic acid personal care products market is estimated to reach US$ 7.36 billion by 2033, up from US$ 3.26 billion in 2023. The market is likely to expand at a CAGR of 8.5%.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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