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Hyaluronic Acid Market Size, Share & Trends Analysis Report Forecast Period (2024-2031).

12-26-2024 07:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Hyaluronic acid market is anticipated to grow at a moderate CAGR of 9.6% during the forecast period (2024-2031). Hyaluronic acid is a naturally occurring glycosaminoglycan found throughout the body's connective tissue. The growing demand for hyaluronic acid for cosmetic procedures is a key factor driving the global market. However, the various side effects such as skin infections, immune-related problems due to an excessive amount of chemicals, and the high amount of acid are hampering the market growth. However, the development of new and natural or low chemical-based and less acidic products is anticipated to create huge opportunities for the hyaluronic acid demand.

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Growing Aesthetic Procedures

The growing urge of consumers to look aesthetically appealing with increasing age has driven the minimally invasive aesthetic procedures demand globally. Hyaluronic acid filler injectable replenishes the natural hyaluronic acid in the skin by adding volume and hydration to areas of the face including the lips, cheeks, and under-eye hollows for a radiant look. Thus, the growing number of minimally invasive aesthetic procedures has contributed significantly to the heightened hyaluronic acid demand. According to the American Society of Plastic Surgeons, in 2023, 5.3 million cosmetic minimally invasive procedures were conducted globally with hyaluronic acid fillers including Juvederm Ultra, Ultra Plus, Voluma, Volbella, Vollure, Restylane Lyft, Restylane Silk, Belotero, Bolvella, Restylane compared to 4.9 million procedures in 2022, depicting an increase of 8.0%.

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Market Segmentation

Based on the grade, the market is segmented into food grade, cosmetic grade, and pharmaceutical grade.
Based on the application, the market is segmented into cosmetics, aesthetics (dermal fillers), osteoarthritis, ophthalmic, dietary supplements, and others.
Osteoarthritis to Exhibit Significant Growth Based on Application

Hyaluronic acid can be directly injected into the joints for instant pain relief and can delay surgical procedures in some cases. The increasing prevalence of orthopedic disorders such as arthritis, osteoporosis, and knee injuries globally has created a heightened demand for hyaluronic acid injections. According to the CDC, 18.9% of adults in the US aged 18 and older were diagnosed with arthritis in 2022, with women more likely to be affected than men. The prevalence of arthritis is projected to increase to 78.4 million adults by 2040. Thus, with the increasing cases of bone and joint-related issues, the market for hyaluronic acid is anticipated to grow during the forecast period. Additionally, several insurance companies cover hyaluronic acid for medically necessary osteoarthritis treatment. This factor is further promoting the growth of this market segment.

by Grade (Food Grade, Cosmetic Grade, and Pharmaceutical Grade), and

by Application (Cosmetics, Aesthetic (Dermal Filler), Osteoarthritis, Ophthalmic, Dietary Supplements, and Others)

Regional Outlook

The global hyaluronic acid market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).



China is a Hotspot for Major Investment in the Hyaluronic Acid Market

In the past decade, China's aesthetics medicine sector growth has outpaced the global market. The market players in the region are actively adopting various business strategies to leverage the high market potential of China. For instance, Galderma launched its hyaluronic acid injectable filler, Restylane VOLYME in China in May 2023. The company is also introducing its complementary shape-up Holistic Individualized Treatment (HIT) in the country, which addresses aging concerns caused by loss of structural support in the mid-face. The availability of these targeted solutions for the mid-face region is demonstrative of Galderma's commitment to meeting patient and injector needs in China.

Further, in July 2024, LG Chem introduced its single-injection osteoarthritis treatment, Synovian in China through its Chinese partner Yifan Pharmaceutical under the brand name Hyruan One. Synovian is a cross-linked hyaluronic acid treatment for knee osteoarthritis developed using LG Chem's proprietary technology. The company intends to expand its presence in China, with this launch.

Market Players Outlook



The major companies serving the hyaluronic acid market include AbbVie Co. (Allergan Plc), Merz Pharma GmbH & Co. KGaA, Zimmer Biomet, Smith & Nephew Plc, Galderma, and Sanofi SA among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.

Recent Development

In May 2023, Evolus, Inc. entered into a definitive agreement to be the exclusive US distributor of a line of five unique dermal fillers currently in late-stage development. The addition of a filler line expands the company's total addressable US market by 70.0% by adding a $1.6 billion US filler market opportunity to the existing $2.3 billion aesthetic neurotoxin market, with both markets expected to nearly double by 2028.
The Report Covers

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the hyaluronic acid market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.



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Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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