Hyaluronic Acid Market Size, Share & Trends Analysis Report By Application (Dermal Fillers, Osteoarthritis (Single Injection, Three Injection, Five Injection), Ophthalmic, Vesicoureteral Reflux), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global hyaluronic acid market size was valued at USD 9.1 billion in 2019 and is projected to witness a CAGR of 8.1% over the forecast period. The market is anticipated to boom due to the aging population and the introduction of technologically advanced products. The shift in preference to minimally invasive procedures and rapid results is expected to drive the market for hyaluronic acid in the coming years.

Increasing aesthetic consciousness, aging population, introduction of cost-effective treatments and products, and technological advancements are some of the factors driving the growth of the market for hyaluronic acid. The rise in the number of plastic surgeons and cosmetic clinics is contributing to an increase in the number of aesthetic procedures being performed.

Growing adoption of nonsurgical cosmetic procedures including Botox and hyaluronic acid injectables are driving the market. New product developments and rising adoption of business strategies by the key market players including mergers and acquisitions are anticipated to propel market growth over the forecast period.

Several health benefits of hyaluronic acid such as moisture retention, faster wound healing, relief from joint pain, to prevent dry eyes and discomfort, and preservation of bone strength. Natural aging process, tobacco smoking, and pollution can reduce the amount of hyaluronic acid present in human skin. Proper use of hyaluronic acid-based supplements and serums can prevent this decline and improve skin in adults.   

Application Insights

On the basis of application, the market is segmented as dermal fillers, osteoarthritis, ophthalmic, and vesicoureteral reflux. Osteoarthritis (OA) dominated the overall market in the year 2019. The market for hyaluronic acid is anticipated to boom due to increase in the geriatric population and increasing preference for minimally invasive procedures. Almost 90% of prescriptions of viscosupplements are intended for the treatment of knee osteoarthritis. As per the Osteoarthritis Research Society International (OARSI), the U.S., both corticosteroids and hyaluronic acid injections can be used for the treatment of osteoarthritis, but viscosupplementation is slightly more effective than corticosteroids.

Though the share of painkillers in pain management is high, viscosupplements are gaining popularity as a cure. Use of hyaluronan as a treatment for osteoarthritis has been approved by U.S. FDA in 1997 and has gained substantial market share.

The industry is witnessing the introduction of newer technology and geographical expansion through approvals and mergers and acquisitions done by the industry players. In 2015, OrthogenRx announced the FDA approval of GenVisc 850 for patients suffering from OA knee pain. It was manufactured in association with Meiji Seika Pharma Co., Ltd. and TedecMeiji Farma S.A. It has been approved in 60 countries, under the brand ADANT, outside the U.S., and is distributed by Meiji Seika Pharma Group and its partners.

The osteoarthritis segment is further classified into five-injection, three-injection, and single injection. Single hyaluronic acid injection is well received by the market for hyaluronic acid despite higher treatment cost compared to its counterparts. Single-injection offers higher convenience and reduces the number of hospital visits, while reducing pain and adverse effects. Increasing geriatric population and rising cases of obesity are further expected to expand the hyaluronic acid market over the forecast period.

In March 2018, Bioventus launched a new single-injection joint lubricant, Durolane in the U.S for the treatment of osteoarthritis pain in the knee. Bioventus is the company in U.S. with one-injection (Durolane), three-injection (Gelsyn-3) and five-injection (Supartz FX) hyaluronic acid option for treating knee osteoarthritis pain.

According to the American Society of Plastic Surgeons (ASAPS), dermal fillers are the most popular and nonsurgical injectable procedures, especially used for correcting soft tissue defects of the face. Hyaluronic acid-based dermal fillers are commonly used for aesthetic procedures, such as improving nasolabial folds, eye wrinkles, dark circles, scar remediation, and rejuvenation. Hyaluronic acid injections are easy to use, effective, and relatively less expensive, and these associated advantages are expected to drive the market for hyaluronic acid during the forecast period.

Regional Insights

North America accounted for the largest share in the global market for hyaluronic acid in 2019. This is due to the presence of a sizeable base of geriatric population, which is more susceptible to disorders such as osteoarthritis, vesicoureteral reflux, and cataracts. Moreover, the growing demand for minimally invasive cosmetic surgeries is a significant factor contributing to the large share of North America.

Due to the presence of high unmet medical needs in emerging economies such South Korea and China, growing awareness about applications of minimally invasive techniques, and increasing disposable income, the Asia Pacific region is expected to grow at the highest rate during the forecast period. The growing geriatric population in China and Japan provides a large customer base for anti-aging products and services. Increasing awareness about applications of hyaluronan and its efficacy fuels the demand. Moreover, the Asian population is influenced by western beauty standards and targets volumized appearance. This has resulted in the growth of the market.

Key Companies & Market Share Insights

Some key industry contributors are Allergan, Inc.; Galderma; Salix Pharmaceuticals; Lifecore Biomedical; Anika Therapeutics; Sanofi, Shiseido; Smith and Nephew Plc; LG Life Sciences; Maruha Nichiro, Inc.; Ferring Pharmaceutical; and Contipro. Market players are involved in R&D activities in order to introduce advanced and effective products. For instance, Anika Therapeutics, Inc. launched CINGAL in Europe in 2016. The company intended to make the product available in Germany, Poland, Italy, Czech Republic, and Hungary.

Hyaluronic Acid Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. 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, 2016 - 2027)

  • Dermal fillers

  • Osteoarthritis

    • Single injection

    • Three injection

    • Five injection

  • Ophthalmic

  • Vesicoureteral reflux

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa