Hyaluronic Acid (HA) Raw Material Market Analysis By Application (Ophthalmology, Orthopedics, Dermatology, Drug Delivery, Medical Devices Coating, Biomaterials & Implants, Tissue Preservation), And Segment Forecasts, 2018 - 2024

Industry Insights 

The global hyaluronic acid (HA) raw material market size was valued at USD 4.30 billion in 2015 and is expected to grow at a CAGR of 6.7% over the forecast period, to reach an estimated value of USD 7.25 billion by 2024. The market is anticipated to boom due to the enlarging aging population and the introduction of technologically advanced products enabling localized drug delivery. In addition, the growing number of aesthetic procedures in various countries, such as the U.S., Brazil, China, Japan, and South Korea, is one of the crucial factors anticipated to boost the market over the coming few years.

The growing elderly population base is one of the key contributors to the growth of the market owing to the high demand by this population group for anti-aging solutions. The surging demand for anti-wrinkle creams, anti-aging solutions, and expanding cosmetic industry contribute to the growth. Furthermore, the growing adoption of hyaluronic acid in the medical field including regenerative medicines is also expected to drive the market toward growth.

U.S. hyaluronic acid raw material market revenue, by application, 2013 - 2024 (USD Billion)

In addition, the rising investment in new product development by companies such as Genzyme Corporation (Sanofi-Aventis) and Zimmer Biomet, which have launched single-injection products, has facilitated the penetration of new single-injection hyaluronic acid visco-supplements. The bone regeneration market is anticipated to grow at a significant CAGR. In addition, the growing prevalence of arthritis amongst the middle-aged population and surging interest of significant players such as ALLERGAN, Genzyme Corporation, and Alcon Laboratories, Inc. (Novartis AG) are some of the factors expected to drive the market in the coming years.  

Application Insights

The orthopedic segment held the majority revenue share in 2015. This segment is mainly driven by the growing adoption of technologically advanced drugs coupled with the wide usage of hyaluronic acid in the treatment procedures of osteoarthritis. The demand for these agents arises from the growing prevalence of arthritis, thereby increasing the number of approved therapeutic products, which subsequently supports market expansion.

Moreover, the dermatology segment held the second largest revenue share in 2015 owing to numerous chronic wound cases in diabetic patients and the surging demand for plastic surgeries requiring hyaluronic acid-based agents. However, drug delivery is identified to be the fastest growing segment. The increasing R&D activities focusing on targeted drug delivery systems and growing usage of hyaluronic acid in anti-cancer drug delivery is expected to contribute to the growth of demand.

Global hyaluronic acid raw material market volume, by application, 2015 (Thousand Kgs)

Regional Insights

North America was the dominating region in 2015. The sizable share of this regional segment is majorly attributable to the introduction of advanced technologies, sophisticated healthcare infrastructure, and increasing patient awareness pertaining to the availability of aesthetic and anti-aging procedures in the region. 

Moreover, the increasing demand for minimally invasive cosmetic procedures is one of the crucial factors expected to influence expansion. As per a white paper published by the Wake Forest School of Medicine regarding the growing use of dermal fillers by physicians in the U.S., approximately 600,000 annual visits related to procedures employing dermal fillers were recorded.

The Asia Pacific region accounted for nearly 29.3% of the global market in 2015. However, owing to the presence of high-unmet medical needs in emerging economies such as India & China, growing awareness of minimally invasive medical applications, and increasing disposable income, this region is expected to grow at the highest CAGR during the forecast period.

Competitive Insights 

Some of the key players are ALLERGAN; Salix Pharmaceuticals; Lifecore Biomedical, LLC; Anika Therapeutics, Inc.; Shiseido Co., Ltd.; Smith & Nephew; LG Life Sciences; Maruha Nichiro Corporation; Ferring B.V.; Genzyme Corporation; SEIKAGAKU CORPORATION; F. Hoffmann-La Roche Ltd., Zimmer Biomet; and Contipro a.s.

The 2014 FDA’s approval for the single-injection treatment, MONOVISC is also anticipated to further fuel the growth of the single-injection product segment. In addition, MONOVISC is the first single-injection product with hyaluronic acid from a nonanimal source, which makes it attractive to patients who are allergic to animal-based hyaluronic acid.

Report Scope

Segments Covered in the Report

This report forecasts revenue & volume growth and provides an analysis on the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global hyaluronic acid (HA) raw material market is segmented based on its applications and region:

• Application Outlook (Revenue & Volume, USD Million & Thousand Kgs; 2013 - 2024)

  • Ophthalmology

    • Cataract surgery

    • Aqueous eye drop

    • Contact lens

  • Orthopedics

    • Viscosupplements

    • Bone regeneration

  • Dermatology

    • Intradermal

    • Dermal filler

    • Wound healing

  • Drug Delivery

  • Medical Device Coating

  • Surgical Adhesion Prevention

  • Biomaterials and Implants

  • Cell and Tissue Preservation

• Regional Outlook (Revenue & Volume, USD Million & Thousand Kgs; 2013 - 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa