Hyaluronic Acid Market Size, Share & Trends Analysis Report By Application (Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux), By Region (North America, APAC, Europe, MEA), And Segment Forecasts, 2019 - 2026

Industry Insights

The global hyaluronic acid market size was valued at USD 8.3 billion in 2018 and is projected to expand at a CAGR of 7.8% over the forecast period. Increasing use of hyaluronic acid in treatment of dry eyes, mouth sores, etc. is expected to have a positive impact on the market growth over the forecast period. This growth is anticipated to the favorable reimbursement policies, increasing geriatric population, and rising number of people opting for aesthetic nonsurgical procedures.

Rising awareness about health along with changing beauty standards has led to the increasing demand for cosmetics and aesthetics procedures. The studies suggest that in 2015, the total spending on nonsurgical cosmetic procedures was more than USD 5 billion in America and hyaluronic acid injectable was the second most frequently performed procedure after Botox.

In 2014, more than 1.8 million procedures were performed in U.S., indicating the popularity of these techniques. The market is witnessing development of newer technology and geographical expansion activities through approvals and mergers & acquisitions done by the industry participants.

In February 2015, Anika Therapeutics, Inc. announced its regulatory submission for premarket approvals in U.S. and Europe for marketing and distribution of Cignal, a viscosupplement. Moreover, in 2015, Actavis acquired a major company Allergen, manufacturer of hyaluronic acid-based ophthalmic, dermatologic, and aesthetic products. This deal was worth USD 66 billion and encouraged other companies to follow the same strategy for business growth.

Application Insights

On the basis of application, the market is segmented into dermal fillers, osteoarthritis, ophthalmic, and vesicoureteral reflux. In 2014, dermal fillers were the most popular option for cosmetic treatment. Osteoarthritis segment is also expected to witness rapid growth in the forecast years. In 2013, more than 27 million people were suffering from osteoarthritis. Viscosupplements are gaining popularity as a cure in pain management. Use of hyaluronan as a treatment for osteoarthritis has been approved by the U.S. FDA in 1997 and has gained substantial market share.

The osteoarthritis segment is further classified into five-injection, three-injection, and single-injection. Three-injection accounted for the largest market share in 2018. The hyaluronic acid dose is injected into synovial fluid of knee and hip to facilitate movement and alleviate joint pain. These doses are taken in the span of 3 to 5 weeks depending on the condition and severity of the disease. In March 2016, Anika Therapeutics, Inc. launched its newly approved viscosupplement, Cignal. This innovative product is a combination of viscosupplement and steroids, which helps alleviate knee pain.

Single-injection cycle is anticipated to be the fastest-growing segment due to high preference for short treatment duration and quick results. Companies are introducing newer technology and products to fulfill this demand. In 2016, Genzyme Corporation received the FDA approval for its single-injection treatment regimen, Synvisc-One. The product contains high-molecular-weight polymers of hyaluronic acid that act as a lubricant and reduce the pain. Ophthalmic segment is expected to witness the fastest CAGR over the forecast period.

Key factors contributing to the segment growth include increasing incidence of diseases, such as cataracts, glaucoma, age-related macular degeneration, and dry eyes. This provides several opportunities for the expansion of ophthalmology-related applications of hyaluronic acid products. Cataract and lens procedures are one of the top outpatient surgical procedures in U.S.

Regional Insights

North America accounted for the maximum revenue share of more than 40% in 2018. U.S. is the most important market and accounts for majority share of the North America regional market. High health awareness and quick adoption of new technologies and treatment methods are expected to drive the regional market further.

Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. Japan is one of the highest contributors to the region’s revenue owing to increasing geriatric population and rising awareness about aesthetics.

Hyaluronic Acid Market Share Insights

Some of the key companies in this market are Allergan, Inc.; Sanofi (Genzyme); Salix Pharmaceuticals; Seikagaku Corporation; Galderma S.A., Zimmer Holdings, Inc.; Smith & Nephew Plc; Ferring Pharmaceuticals, Inc.; Anika Therapeutics, Inc.; and F. Hoffmann-La Roche Ltd. Key business strategies including mergers and acquisitions and new product development are anticipated to intensify the market dynamics over the forecast period.

For instance, in 2015, Valeant Pharmaceuticals acquired Salix Pharmaceuticals Ltd. In 2013, the company also acquired Bausch + Lomb Holdings Inc., an eye care products company. Moreover, companies, such as Galderma, Actavis, and Rayner Surgical Group Ltd., have acquired businesses to extend their product portfolio.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global hyaluronic acid market report on the basis of application and region:

• Application Outlook (Revenue, USD Million, 2015 - 2026)

  • Dermal Fillers

  • Osteoarthritis

    • Single Injection

    • Three Injection

    • Five Injection

  • Ophthalmic

  • Vesicoureteral Reflux

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    •  U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • India

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa