Hyaluronic Acid Market Analysis | 2023-2028

Market Insights

The hyaluronic acid market was estimated at USD 10 billion in 2022 and is likely to grow at a CAGR of 8.7% during 2023-2028 to reach USD 16.54 billion in 2028.

Want to know more about the market scope? Register Here

Market Dynamics

Introduction

Hyaluronic Acid is a naturally occurring substance found in the human body that helps to keep skin hydrated, joints lubricated, and eyes moist. It has become a popular ingredient in skincare products, supplements, and injectable fillers.

COVID-19 Impact

The COVID-19 pandemic has had a mixed impact on the hyaluronic acid market. On one hand, the demand for hyaluronic acid-based injectable fillers and dermal fillers used in cosmetic procedures has decreased significantly due to the temporary closure of aesthetic clinics and a decrease in discretionary spending by consumers.

This has resulted in a decline in revenue for manufacturers of these products.On the other hand, the demand for hyaluronic acid-based skincare products has increased during the pandemic, as consumers have become more conscious of their skincare routines and are looking for products that offer hydration and anti-aging benefits.

Market Drivers

The increasing demand for anti-aging products, the rise in the geriatric population, and growing awareness about the benefits of hyaluronic acid in skincare and joint health are driving the growth of the market. Moreover, the development of new products and technological advancements in the manufacturing of hyaluronic acid are expected to create new growth opportunities for market players.

The rise in virtual communication and social media platforms has also contributed to the growth of the market, as consumers are looking to maintain a youthful appearance on camera.

Want to have a closer look at this market report? Click Here.

Investments in the Hyaluronic Acid Market:

Investments in the hyaluronic acid market can take various forms, including the development and marketing of products containing hyaluronic acid, investment in research and development of new formulations and delivery methods, and investment in companies that specialize in the production and sale of hyaluronic acid.

Research and development: Many companies invest in research and development to improve the performance of hyaluronic acid products and to develop new delivery methods. For example:

• Roche, through its subsidiary Genentech, is developing a hyaluronic acid-based hydrogel to deliver cancer drugs directly to tumors.
• Researchers at MIT and Harvard are developing a new form of hyaluronic acid that can be used to create 3D-printed scaffolds for tissue engineering.
• Seikagaku, a Japanese pharmaceutical company, is developing a new hyaluronic acid-based drug delivery system that can target cancer cells specifically.

Product development and marketing: Many companies invest in the development and marketing of products that contain hyaluronic acid. For example:

• L'Oreal's Vichy brand offers a range of hyaluronic acid-based skincare products, including the LiftActivHyalu-Filler line.
• Zimmer Biomet produces a range of hyaluronic acid-based joint injections, such as Synvisc and Gel-One, for the treatment of osteoarthritis.
• Nestle Health Science produces a range of hyaluronic acid-based dietary supplements under the brand name Arthrexin.

Segment Analysis

By End Use Type

The hyaluronic acid market is segmented into the Cosmetic Industry, Pharmaceutical Industry, and Nutraceutical Industry. Other industries may also use hyaluronic acid in their products or applications, but these three are the main end-use segments.

The cosmetic industry is the largest end-use segment for hyaluronic acid, accounting for the majority of the market share. Hyaluronic acid is a popular ingredient in skincare products due to its hydrating and anti-aging properties. It is used in a range of products such as serums, creams, lotions, and masks. The demand for hyaluronic acid in the cosmetic industry is driven by the growing demand for anti-aging products, increasing consumer awareness of the benefits of hyaluronic acid, and the trend toward natural and organic skincare products.

The pharmaceutical industry is another significant end-use segment for hyaluronic acid. Hyaluronic acid is used in several pharmaceutical applications, including joint injections for osteoarthritis, eye surgeries, and wound healing. The demand for hyaluronic acid in the pharmaceutical industry is driven by the growing incidence of osteoarthritis and other joint-related disorders, the increasing prevalence of eye diseases, and the rise in the number of surgeries worldwide.

The nutraceutical industry is a smaller but growing end-use segment for hyaluronic acid. Hyaluronic acid is used in dietary supplements to support joint health and skin hydration. The demand for hyaluronic acid in the nutraceutical industry is driven by the increasing awareness of the health benefits of hyaluronic acid and the growing aging population.

Overall, the hyaluronic acid market is expected to experience significant growth across all end-use segments in the coming years, driven by factors such as the increasing demand for anti-aging and skin health products, the rising incidence of joint-related disorders, and the growing awareness of the health benefits of hyaluronic acid.

Regional Insights

The market can be segmented by region into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is a significant market for hyaluronic acid, primarily driven by the growing demand for anti-aging and skin care products. The US is the largest market in this region, with the presence of several leading players and a high adoption rate of hyaluronic acid-based products.

Additionally, the rising incidence of osteoarthritis and other joint-related disorders is driving the demand for hyaluronic acid in the pharmaceutical industry. Europe is another significant market for hyaluronic acid, driven by the growing demand for cosmetic and anti-aging products. The increasing aging population and the trend towards natural and organic skincare products are also driving the demand for hyaluronic acid-based products in this region. Germany, France, and the UK are the major markets in Europe.

Overall, the hyaluronic acid market is expected to experience significant growth across all regions in the coming years, driven by factors such as the increasing demand for anti-aging and skin health products, the rising incidence of joint-related disorders, and the growing awareness of the health benefits of hyaluronic acid.

Know the high-growth countries in this report. Register Here

Key Players

Some of the key players in the market include:

• Allergan, Inc
• Anika Therapeutics, Inc.
• Anmol Chemicals Group
• Bioventus LLC
• Contiproa.s.
• Ferring Pharmaceuticals Inc.
• Galderma S.A
• Kewpie Corporation
• KGaA
• Kikkoman Corporation
• Landec
• Liuzhou Shengqiang Biotech Co.,Ltd
• Merz Pharma GmbH & Co.
• Sanofi SA
• Seikagaku Corporation
• Shandong Focuschem Biotech Co., Ltd
• SHANDONG TOPSCIENCE BIOTECH CO., LTD.
• Shijiazhuang lateen chemical co., ltd
• Teva Pharmaceutical Industries Ltd.
• Tiansheng Bio
• Zimmer Biomet Holdings, Inc.

The hyaluronic acid market is highly competitive, with several leading players operating in the industry. Here's an overview of the competitive landscape:

The competitive landscape of the hyaluronic acid market is characterized by intense competition, with players focusing on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge. Additionally, the growing demand for hyaluronic acid-based products is attracting new players to the market, increasing competition further.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s hyaluronic acid market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The hyaluronic acid market is segmented into the following categories.

By End-Use Type

• Cosmetic Industry
• Pharmaceutical Industry
• Nutraceutical Industry

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.