Global Hyaluronic Acid Market

Hyaluronic Acid Market Size, Share, Growth Analysis, By Application(Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15E2361 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 37 | Figures: 74

Hyaluronic Acid Market News

  • In August 2022, Sanofi and Innovent Biologics will offer new cancer treatments to China. Innovent has significant clinical development skills and a large commercial foothold in China. Both firms are dedicated to expediting the development and commercialization of Phase III SAR408701 and Phase II SAR444245, together with sintilimab, the leading checkpoint inhibitor in China.
  • In October 2020, Luminera is an Israel-based privately-held aesthetics company with a portfolio and pipeline of dermal filler treatments, and Allergan Aesthetics, an AbbVie subsidiary, just announced an agreement with them. By signing this agreement, Allergan Aesthetics will acquire Luminera's entire dermal filler portfolio and R&D pipeline, strengthening its position as the market leader in dermal fillers alongside the JUVÉDERM® family of products.
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Hyaluronic Acid Market size was valued at USD 8.74 billion in 2022 and is poised to grow from USD 9.4 billion in 2023 to USD 16.8 billion by 2031, growing at a CAGR of 7.58% in the forecast period (2024-2031).

The Hyaluronic acid market is relatively fragmented, with a high level of competition. Few large players, like Allergan Inc., Sanofi S.A., and Anika Therapeutics, Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Allergan plc', 'Anika Therapeutics, Inc.', 'Ferring Pharmaceuticals', 'Galderma S.A.', 'Genzyme Corporation', 'Hyaltech Ltd.', 'LG Life Sciences Ltd.', 'Medytox, Inc.', 'Merz Pharma GmbH & Co. KGaA', 'Salix Pharmaceuticals, Inc.', 'Sanofi S.A.', 'Seikagaku Corporation', 'Shanghai Jingfeng Pharmaceutical Co., Ltd.', 'Shiseido Company, Limited', 'Sinclair Pharma plc', 'Smith & Nephew plc', 'Teva Pharmaceutical Industries Ltd.', 'Valeant Pharmaceuticals International, Inc.', 'Zimmer Biomet Holdings, Inc.', 'AstraZeneca'

The increased number of plastic surgeons and cosmetic clinics contributes to an increase in the number of aesthetic operations performed. The hyaluronic acid industry is being driven by the increasing use of nonsurgical cosmetic procedures such as Botox and hyaluronic acid injectables.

Increasing elderly population and the rising prevalence of obesity are the trends that have been witnessed in recent times that will benefit the hyaluronic acid market. Dermal fillers are the most common nonsurgical injectable procedures, and they are frequently used to fix soft tissue abnormalities on the face. This is according to the American Society of Plastic Surgeons (ASAPS). Dermal fillers made from hyaluronic acid are widely used for cosmetic purposes. These fillers are injected to smooth out wrinkles and creases, treat dark circles under the eyes, smooth out scars, and rejuvenate the skin. All these development is expected to propel the expansion of the hyaluronic acid market and will be bolstered throughout the forecast period.

In 2021, North America accounted for more than 43% of the global hyaluronic acid market and is expected to do the same throughout the analysis period. This is owing to the presence of a sizable older population, which is more vulnerable to illnesses like osteoarthritis, vesicoureteral reflux, and cataracts. Furthermore, the increased demand for less invasive aesthetic operations is a crucial element contributing to North America's high share.

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Global Hyaluronic Acid Market

Report ID: SQMIG15E2361

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