San Francisco, 09 January 2024: The Report Hyaluronic Acid Market Size, Share & Trends Analysis Report By Application (Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux), By Region, And Segment Forecasts, 2024 - 2030

The global hyaluronic acid market size is expected to reach USD 16.75 billion by 2030, registering a CAGR of 7.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors, such as increasing concern of population regarding chemicals, desire to get quick and evident results, and shorter recovery time are high impact rendering drivers. The industry is evolving rapidly due to the increasing adoption of aesthetic procedures in developed and developing regions. Increasing the use of hyaluronic acid surfaces in cardiovascular implants, such as stents and vascular grafts, for improving compatibility coupled with the growing awareness about anti-aging products is fueling the growth.

The efficacy and evident results of hyaluronic acid-based dermal fillers are attracting this population base. Furthermore, the COVID-19 pandemic has changed the dynamics of many industries, with movement restrictions, social distancing, and revised practices becoming the “new normal.” As the cosmetic industry is gradually resuming its operations, a number of doctors have reported a significant increase in inquiries for aesthetic surgeries. Moreover, the lockdown has encouraged all professionals to use video-conferencing facilities, which has made people more conscious of their looks. In some cases, it has led people to opt for cosmetic treatments; this is termed the “Zoom Boom” or the “Zoom effect.”

Cosmetic surgeons across the world have witnessed a significant increase in the number of patients as a result of the pandemic, particularly in countries, such as the U.S., Australia, and Japan. North America held the maximum revenue share in 2022. Preference for short-treatment regimens, even though high-priced, and the prevalence of target diseases, such as osteoarthritis, are the key factors attributed to the high share. In 2022, the most lucrative product applications in the North America region were in the form of dermal fillers and viscos supplements for the management of osteoarthritis. Asia Pacific is anticipated to register the fastest CAGR during the forecast period.

The growing geriatric population in China and Japan provide a large customer base for anti-aging products and services. Rising awareness about product applications and efficacy also fuels the demand. In addition, increasing disposable income levels are further supporting the region’s expansion. Europe has undergone impressive changes over the last 2 years. The growing demand is witnessing increasing price competition owing to new entrants. The WHO recently announced the obesity epidemic in the U.K. and Germany. The relationship between the increasing aging population and obesity is a potential driver for the Europe regional sector

The increasing geriatric population is a major factor contributing to the market growth. According to the World Health Organization, the proportion of people aged 60 years and above is estimated to increase from 1 billion in 2020 to 1.4 billion by 2030. People aged 60 years and over worldwide are estimated to be 2.1 billion by 2050. Growing awareness for antiaging products and high prevalence of target diseases are expected to drive market growth in the forecast period.

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The COVID-19 pandemic, which is now endemic, negatively impacted the market in 2020. This was due to the stringent lockdowns and restrictions applied by countries worldwide. Hyaluronic acid is widely used in ophthalmology applications such as intravitreal injection, dry eye treatment, and contact lenses. According to an NCBI article published in August 2021, in 2020, there was a decrease in referral of eye care by 54.2% as well as visits to the ocular emergency department at an early pandemic lockdown, which declined by 73%.

Hyaluronic Acid Market Report Highlights

• The osteoarthritis segment dominated the global industry and accounted for the maximum share of the overall revenue in 2023
• The rising obesity resulting in osteoarthritis and joint pain has increased the demand for hyaluronic acid injections as a treatment
• Hyaluronic acid acts as a shock absorber or a cushion and lubricates the joints, thus helping in proper functioning
• There are a number of ophthalmic surgical products that use hyaluronan/hyaluronic acid as an active ingredient
• These include Vitrax, Healon, Amivisc Plus, Amvisc, Hylan G-F20, and Opegan
• The increasing prevalence of age-related eye diseases, dry eye syndrome, adult-vision impairments, and chronic diseases, such as diabetes, are major factors leading to segment growth.

Growing awareness about antiaging products is boosting the demand for antiaging cosmetic and esthetic treatments. Due to their distinctive viscoelastic and moisturizing properties and lower toxicity levels, there is a rising demand for hyaluronic acid products for minimally invasive antiaging solutions. Currently, a large number of people, especially women, are concerned about esthetics and looking younger, boosting their overall awareness about the antiaging products. The demand for hyaluronic acid products such as dermal fillers and the treatment of vesicoureteral reflux is anticipated to increase, because of the high awareness & minimally invasive nature.

In North America, awareness & demand for such products is the highest. According to the Premium Beauty News published in May 2023, In the U.S., antiaging products remain highly popular among women. About 70% of women surveyed said they buy or use antiaging products, and 55% had a minimum of 3 products labeled as antiaging. They are mostly seeking anti-aging benefits: reducing wrinkles and fine lines, improving skin elasticity, sun protection, and deep hydration. These aspects are boosting the demand for the market.

Hyaluronic Acid Market Report Scope 

The global hyaluronic acid market is characterized by a moderate degree of innovation. While there have been significant advancements in understanding hyaluronic acid and its underlying causes, treatment options remain primarily focused on symptom management rather than addressing the condition's root cause. Several market players, such as Allergan, Sanofi, Genzyme Corporation, and Anika Therapeutics, Inc., are involved in merger and acquisition activities. Through M&A activity, these companies expand their geographic reach and enter new territories. Companies are actively investing substantial resources in clinical trials and regulatory submissions to obtain regulatory approval for pipeline products. This results in increasing the cost of developing novel hyaluronic acid products.

List of Key Players of the Hyaluronic Acid Market

• Allergan
• Sanofi
• Genzyme Corporation
• Anika Therapeutics, Inc.
• Salix Pharmaceuticals
• Seikagaku Corporation
• F. Hoffmann-La Roche Ag
• Galderma Laboratories L.P.
• Zimmer Biomet
• Smith & Nephew Plc
• Ferring B.V.
• Lifecore Biomedical, LLC
• HTL Biotechnology