Hyaluronic Acid Market Analysis by Application (Dermal Fillers, Osteoarthritis [Single Injection, Three Injection, Five Injection], Ophthalmic, Vesicoureteral Reflux), by Region (North America, Europe, Asia Pacific, Latin America, MEA) and Segment Forecasts to 2025

Industry Insights

The global hyaluronic acid market was valued at USD 7.2 billion in 2016 and is projected to grow at a CAGR of 8.8% over the forecast period. Increasing use of hyaluronic acid in treatments of dry eyes, mouth sores, and aging skin is expected to have a positive impact on market growth over the forecast period. The high growth is anticipated on account of increasing number of people opting for aesthetic nonsurgical procedures, favorable reimbursement policies as well as growing geriatric population base.

U.S. Hyaluronic Acid Market By Application (Osteoarthritis), 2014 - 2025 (USD Million)

Increasing awareness about health and changing beauty standards have led to increasing demand for cosmetics and aesthetics procedures. In 2015, the total spending of Americans on nonsurgical cosmetic procedures was more than USD 5 billion and hyaluronic acid injectable was the second most frequently performed procedure after Botox. In 2014, more than 1.8 million procedures were performed in the U.S., indicating the popularity of these techniques.

Application Insight

On the basis of applications, the market is segmented as dermal fillers, osteoarthritis, ophthalmic, and vesicoureteral reflux. In 2014, dermal fillers were the most popular option for cosmetic treatment in terms of number of inquiries and witnessed a growth of 131% during the years 2013 to 2014. In 2014, more than 2.4 million dermal filler procedures were performed. The desire to look healthy and youthful is also encouraging men to opt for this treatment. This corresponds to the rising demand of fillers and is one of the key drivers of this segment. 

Osteoarthritis segment is also expected to grow rapidly in the coming years. In 2013, more than 27 million were suffering from osteoarthritis and a large population above 60 years of age is now susceptible to develop symptomatic knee osteoarthritis. 

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 introduction of newer technology and geographical expansion through approvals and mergers & acquisitions done by the industry players. In February 2015, Anika Therapeutics, Inc. announced its regulatory submission for premarket approvals in the U.S. and Europe for marketing and distribution of Cignal, a viscosupplement.

Moreover, in 2015, Actavis acquired a major industry player Allergen, which is a manufacturer of hyaluronic acid-based ophthalmic, dermatologic, and aesthetic products. This deal was worth USD 66 billion and is expected to encourage other businesses to follow the same strategy for business growth.

The osteoarthritis segment is further classified into five-injection, three-injection, and single-injection. Three injection accounted for the largest market share in 2016. 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. The doses are spaced to allow patients to recover from the mild side effects, such as redness and swelling at the site of injection.

In March 2016, Anika Therapeutics, Inc. launched its newly approved viscosupplement, Cignal. This innovative product is a combination of viscosupplement and steroids, which help alleviate the knee pain.

Single injection cycle is anticipated to be the fastest growing segment. This is attributed to the preference of patients to short duration of treatment and quick results. Industry players are also 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 pain due to osteoarthritis

Ophthalmic segment is expected to grow at the fastest CAGR over the forecast period. Key factors contributing to its growth include increasing incidence of diseases such as cataracts, glaucoma, age-related macular degeneration, and dry eyes. Moreover, cataract and lens procedures are one of the top outpatient surgical procedures in the U.S. In addition, the prevalence of dry eyes is very high in the U.S. with 40 million people suffering from it. This provides a huge opportunity for expansion of ophthalmology-related applications of hyaluronic acid products.

Regional Insights

In 2015, North America accounted for the maximum revenue share of more than 40%. The U.S. is the most important market and accounts for majority share of the North America. The population in this region is more conscious about aging and is open to adopt new treatment methods. 

Hyaluronic Acid Market Share, By Geography, 2016

Asia Pacific is expected to emerge as the fastest growing region over the forecast period. In 2016, Shiseido Co., Ltd. in Japan has 55% of their revenue share from skin care and antiaging products. Japan is one of the highest contributors to the Asia Pacific revenue, owing to its large geriatric population and growing awareness amongst people about aesthetics.

Competitive Insights

Some key industry contributors 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. 

The dynamic acquisitions done by Valeant Pharmaceuticals in the past 2 years has skyrocketed the shares. In 2015, the company acquired Salix Pharmaceuticals Ltd. In 2013, they also acquired Bausch + Lomb Holdings Inc., an eye care products’ company.

Moreover, companies such as Galderma, Actavis, and Rayner Surgical Group Limited have acquired businesses to extend their product portfolio and tap in to the unmet needs of the consumers. Acquisitions are anticipated to intensify the market dynamics over the forecast period.

Report Scope

Segments covered in the report

This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the hyaluronic acid market on the basis of application and region:

• Application Outlook (Revenue, USD Million; 2014 - 2025)

  • Dermal fillers

  • Osteoarthritis

    • Single injection

    • Three injection

    • Five injection

  • Ophthalmic

  • Vesicoureteral reflux

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa