The North America OTC hyaluronic acid (HA) market is expected to reach a value of USD 41.3 billion by 2024, according to a new report by Grand View Research, Inc. The increasing number of obese people owing to the lack of physical activity and higher consumption of fast food & alcohol, especially by the younger population are some of the factors accounting for growth.
Orthopedic applications of HA are expected to emerge as the most lucrative segment of this market. This can be attributed to the growing target audience above 60 years, suffering from various joint disorders such as rheumatoid arthritis and osteoarthritis coupled with the introduction of new products catering to this population subset. In addition, increase in the number of arthritis-related hospitalization cases and growing awareness amongst the healthcare professionals regarding excellent physiochemical properties of hyaluronic acid is expected to drive the demand. However, the dermatology segment in the U.S. was the largest segment in 2015 accounting for almost 95.2% of the total U.S. OTC hyaluronic acid market. The growing population of women between 20 and 65 years of age and increasing awareness regarding the benefits of HA are some of the crucial factors driving the surging demand for hyaluronic acid in dermatological procedures.
Hyaluronic acid (HA) stimulates the synthesis of a protein that plays a crucial role in supporting skin structure and collagen, which declines with age leading to wrinkle formation. The growing demand for HA as a topical skin cream or serum coupled with the increasing presence of market participants in this sector is indicative of future growth. The rising awareness regarding the benefits of HA in skin care products for penetrating the dermis more effectively as compared to collagen is also anticipated to propel the market trend. According to various reports, approximately 27% of the total U.S. women population belong to the age group of 45 to 65 years, which is one of the crucial factors responsible for the surging demand for anti-wrinkle creams.
Some of the key players are Shiseido Co., Ltd.; Lindberg Nutrition & GeniusCentral Systems; Nature’s Way Products, LLC; NOW Foods; NeoCell Corporation; Source Naturals, Inc.; Doctors Best; derma e; and Earth Science Naturals
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Grand View Research has segmented the North America OTC hyaluronic acid market by product, sales channels, and region:
North America OTC Hyaluronic Acid: Product Outlook (Revenue in USD Million, 2013 - 2024)
North America OTC Hyaluronic Acid: Sales Channels Outlook (Revenue in USD Million, 2013 - 2024)
North America OTC Hyaluronic Acid: Regional Outlook (Revenue in USD Million, 2013 - 2024)
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