Ageing and wrinkling of the skin - two words that have scared the living daylights out of men and women, old and young alike. And then enters the knight in shining armor (or bottle), that is hyaluronic acid….
Hyaluronic acid, also known as hyaluronan, is an anionic, non-sulfated glycosaminoglycan and is a gooey, clear substance which is produced naturally by the human body. It is mostly found in the skin, eyes and connective tissues, and its main objective is to keep human tissues moist and well lubricated. It is distributed throughout epithelial, connective and neural tissues. Majority of the consumers use it as a supplement, but it can also be used in topical serums, injections and eye drops. Additionally, it helps in maintaining normal joint cushioning, and all these factors help the product in exhibiting its properties in varied fields such as ophthalmology, dermatology, rheumatology, orthopedic surgery, otolaryngology, plastic surgery, drug delivery, and wound healing.
HA, when applied topically, helps to hydrate the skin and then functions as a humectant to maintain this hydration. A single gram of HA can hold up to 6 liters of water, which is A LOT! With regards to the skin, HA holds so many advantages that you need not download any application to beautify your pictures on your smartphone! It offers a super-soft, plump and cushioned feel to the skin, and works wonders for those with an ageing skin. The best thing is, it can work on ANY type of skin, and as it also has antioxidant properties, it shields the skin against pollution and other uncontrollable elements. However, there are two sides of a coin, and there may be cases of reddening and irritation of the skin, if the hyaluronic acid routine is overdone.
With Regards To The North American Market…
North America holds a prominent share in the global market for hyaluronic acid, both in terms of availability of the product as well as innovations carried out by major companies. The younger demographic has shifted their mentality towards procuring locally sourced, sustainable and organic solutions, as compared to following the major brands.
According to Nielsen, the total sales value of OTC drugs in the United States was USD 35,231 million as of 2018. Additionally, according to Statista, the OTC pharmaceuticals segment in Canada amounts to USD 2,697 million in 2020. The regional population comprises of the growing aging population and the shrinking household population. Many factors are playing a role in solidifying the North America OTC Hyaluronic Acid market for the product, with some of them being:
Customers are becoming more brand conscious about cosmetic products. Thus, brands are diversifying their product portfolio to target new customer groups by shifting their focus from the younger generation to the middle-aged population.
The growing elderly population serves as an important driver for this market. The ever-rising demand for organic and natural products coupled with the development of anti-aging products addressing a variety of cosmetic concerns, including skin wrinkling, skin type- & skin tone type-related issues, dark circles, and hyperpigmentation, is anticipated to support market growth in the future.
The growing usage of hyaluronic acid in anti-aging or anti-wrinkle creams and the rapidly growing anti-aging market are some of the key factors indicating the increasing demand for the product in the dermatology market.
The increasing prevalence of arthritis and joint-related problems amongst the geriatric population has resulted in an upsurge in the demand for joint supplements, thus creating more opportunities for HA in the major regional economies such as U.S. and Canada.
Additionally, the presence of a considerably large target population is further accounting for the high market share for hyaluronic acid across this region.
According to various reports, the Hispanic population is more progressive and have high demand for specialty products. In addition, this population comprises impulsive buyers who are inclined toward sophisticated cosmetic products in the high price range. Hispanic population in the United States reached almost 60 million in 2018, and has seen a continued climb, while the Southern U.S. states have seen fastest climb in the population at 33%, when compared to 2008 data. The presence of almost 45% of the white Hispanic population in the U.S. is expected to affect the market to a great extent. However, the non-Hispanic population that accounted for almost 41% of the population birth in 2014 is the highest spender in the cosmetic industry and is expected to drive the market in the forecast period.
Innovation And Developments Ruling The Market
Some of the major competitors that have been involved in this exciting and innovative space include 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. Besides, research institutions are also digging deep to search for avenues that can be explored by using this product. Recent events and developments in the industry include:
Study results published in Arthritis Research & Therapy have shown that filler injections of hyaluronic acid and platelet-rich plasma can vastly improve the quality of life in scleroderma patients. The study came out in December 2019.
Biomedical engineers at Rutgers have successfully developed a "bio-ink" for 3D printed materials, making use of modified versions of polyethylene glycol and hyaluronic acid, which would serve as a scaffold for the purpose of growing tissues. This study was published in the Biointerphases journal.
The Revitalift Filler Serum by L'Oréal Paris, which is hugely popular in the U.S. has been made available in the United Kingdom. The product contains 1.5% HA, which is more than the standard product concentration. Reportedly, 1 unit is sold in the U.S. every minute.
In-depth report on north america OTC hyaluronic acid (HA) market by Grand View Research:
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.