DUBLIN--(BUSINESS WIRE )--The "Global Hyaluronic Acid Market, By Product, By Grade, By Formulation, By Application, By Distribution Channel, By Use, Estimation & Forecast, 2017 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global hyaluronic acid market apprehended a market value of USD 7.94 billion in 2021 and is projected to reach USD 20.01 billion by the year 2030. The market is projected to list a CAGR of 11.53% during the forecast period. Moreover, the global hyaluronic acid market volume was 2,156.23 metric tons in 2021.
The hyaluronic acid business is likely to grow at a considerable rate owing to the increasing demand at the supply end for anti-aging products, as well as aesthetic therapies. Moreover, the rising preference rates and applications of hyaluronic acid products in dry eye and osteoarthritis management fuels the growth rate of the market significantly.
The growing strategic moves by the key players is boosting the market growth. For instance, in February 2017, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, received approval from the U.S. Food and Drug Administration (FDA) for an expanded 26-week efficacy claim for its single-injection viscosupplement Gel-One Cross-linked Hyaluronate for the treatment of knee pain associated with osteoarthritis.
On the other hand, the hyaluronic acid market is projected to get hampered by the high costs associated with the products. Moreover, the side effects and the gray market is estimated to create a level of uncertainty in the marketspace.
Increasing Demand for Anti-aging Cosmetics and Aesthetic Treatment
The high usage of anti-aging cosmetic products is fueling the growth rate of the global hyaluronic acid market. for instance, according to the Aesthetic Plastic Surgery statistics published in 2020, there were 17.7 million cosmetic procedures done in 2018. Similarly, as per the International Society of Plastic Surgery (ISPAS) statistics in 2019, a total of 1.5 million individuals aged 51-64 years underwent botulinum toxin procedures worldwide in 2019. Such high statistics push towards the rise in market value of the hyaluronic acid market.
Increase in usage of Hyaluronic Acid in Osteoarthritis and Dry Eye
Hyaluronic acid has several applications, namely, osteoarthritis, dry eye, and dietary supplements and cosmetics. The rising applications of hyaluronic acid in these areas boosts the market value of the market drastically. For instance, according to a study published in Journal of Bone & Joint Surgery. the use of hyaluronic acid injections for knee osteoarthritis in Medicare beneficiaries increased substantially from 2012 to 2018. The increased use of hyaluronic acid products is boosting the growth rate of the market over the forecast period.
The global hyaluronic acid market report provides insights on the below pointers:
The global hyaluronic acid market report answers questions such as:
Part 1 Market Definition and Research Methodology
Part 6 Global Hyaluronic Acid Market
Part 7 North America Hyaluronic Acid Market
Part 8 Europe Hyaluronic Acid Market
Part 9 Asia Pacific Hyaluronic Acid Market
Part 10 Latin America Hyaluronic Acid Market
Part 11 Middle East & Africa Hyaluronic Acid Market
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900