Hyaluronic Acid Market Size, Share & Trends Analysis Report By Application (Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux), By Region (MEA, EU, North America, APAC), And Segment Forecasts, 2023 - 2030

Report Overview

The global hyaluronic acid market size was valued at USD 9.4 billion in 2022 and is projected to witness a compound annual growth rate (CAGR) of 7.58% during the forecast period. The market is anticipated to grow due to the aging population and the introduction of technologically advanced products. The rising preference for minimally invasive procedures and the need for faster results are expected to drive industry growth in the coming years. Increasing aesthetic consciousness, the aging population, the introduction of cost-effective treatments & products, and technological advancements are some of the factors driving the growth of the industry.

A 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 is driving the market. New product developments and rising adoption of business strategies by key market players including mergers and acquisitions are anticipated to propel growth during the forecast period. Several health benefits of hyaluronic acids, such as moisture retention, faster wound healing, relief from joint pain, to prevent dry eyes and discomfort, and preservation of bone strength, will drive the demand further.

COVID-19 Hyaluronic Acid Market Impact: 4.4% growth from 2020 to 2021

The 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 helps prevent this and improve the skin. The industry is witnessing the introduction of newer technology and geographical expansion through new product approvals and mergers & acquisitions done by the industry players. 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 the U.S. with one injection (Durolane), three-injection (Gelsyn-3), and five-injection (Supartz FX) hyaluronic acid options for treating knee osteoarthritis pain.

Application Insights

On the basis of application, the market is segmented as dermal fillers, Osteoarthritis (OA), ophthalmic, and vesicoureteral reflux. The OA dominated the global industry and accounted for 42.17% of the overall revenue in the year 2022. The industry is anticipated to grow on account of an increase in the geriatric population and a rising 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. The use of hyaluronan as a treatment for osteoarthritis has been approved by the U.S. FDA in 1997 and has gained substantial industry share.The osteoarthritis segment is further classified into five-injection, three-injection, and single injections. The single hyaluronic acid injection is well received by the market despite higher treatment costs compared to its counterparts. Single injection offers higher convenience and reduces the number of hospital visits while reducing pain and adverse effects.

The increasing geriatric population and rising cases of obesity are further expected to boost industry growth over the forecast period.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 on 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 growth during the forecast period.

Regional Insights

On the basis of geographies, the global industry has been further segmented into North America, Asia Pacific, Middle East & Africa, Europe, and Latin America. North America dominated the global industry in 2021 and accounted for the largest share of 42.73% of the overall revenue. This is due to the presence of a sizeable base of the 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 as South Korea and China, growing awareness about applications of minimally invasive techniques, and increasing disposable income, The Asia Pacific region is expected to register the fastest CAGR of 8.38% during the forecast period. The growing geriatric population in China and Japan provide a large customer base for anti-aging products and services. Increasing awareness about the 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 regional sector.

Key Companies & Market Share Insights

Industry players are involved in R&D activities to introduce advanced and effective products. For instance, in June 2020, AbbVie announced the approval of a new hyaluronic acid product—Juvederm Voluma XC—indicated for improving chin profile in adults. In December 2019, Anika Therapeutics launched its first hyaluronic acid-based surgically delivered regenerative therapy, TACTOSET, in the U.S. for the treatment of bone defects caused by trauma or degeneration. Furthermore, in September 2019, Allergan received FDA approval for JUVÉDERM VOLUMA XC to be used with the TSK STERiGLIDE cannula for cheek augmentation. Some of the prominent players in the global hyaluronic acid market include:

• Allergan

• Sanofi

• Genzyme Corporation

• Anika Therapeutics, Inc.

• Salix Pharmaceuticals

• Seikagaku Corporation

• F. Hoffmann-La Roche Ag

• Galderma Laboratories L.P.

• Zimmer Biomet

• Smith & Nephew Plc

• Ferring B.V.

• Lifecore Biomedical, Llc

• HTL Biotechnology

• Shiseido Company, Limited

• Bloomage Biotechnology Corporation Limited

• LG Life Sciences Ltd (LG Chem.)

• Maruha Nichiro, Inc.

Hyaluronic Acid Market Report Scope

Global Hyaluronic Acid Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global hyaluronic acid market report based on application and region:

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Dermal fillers

  • Osteoarthritis

    • Single-injection

    • Three-injection

    • Five-injection

  • Ophthalmic

  • Vesicoureteral reflux

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE