Hyaluronic Acid Market Research Report Information By Grade (Cosmetic Grade, Pharmaceutical Grade, Food Grade), By Application (Aesthetics, Osteoarthritis, Pharmaceutical API, Cosmetics, Dietary Supplements, Ophthalmology, Others), By End Users (Pharmaceutical Industry, Dermatology Clinics, Cosmetic Surgery Centers, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Forecast Till 2030
Hyaluronic acid market Size was valued at USD 6.00 billion in 2021 and is projected to grow from USD 6.92 Billion in 2022 to USD 20.14 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.77% during the forecast period (2022 – 2030). Increasing application of hyaluronic acid in cosmetic & personal care products and increasing number of cosmetic surgeries.
The hyaluronic acid market refers to the industry and business involved in the production, distribution, and sale of products containing hyaluronic acid as a key ingredient. Hyaluronic acid is a naturally occurring polysaccharide that is widely used in various applications, including cosmetic and dermatological products, joint and eye lubrication, wound healing, and tissue engineering. The market for hyaluronic acid is growing rapidly due to its increasing popularity in the cosmetic industry and its various medical applications. The market is segmented based on product types, applications, end-users, and geographical regions.
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During the COVID-19 pandemic, the market faced challenges and disruptions due to the widespread lockdowns, supply chain disruptions, and reductions in consumer spending the market experienced a decline in demand for hyaluronic acid products, particularly in the cosmetic industry as people postponed elective procedures such as cosmetic injections and fillers
The market is expected to recover as the pandemic subsides and demand for cosmetic procedures and medical treatments returns. The increasing popularity of hyaluronic acid products in the cosmetic industry, coupled with its various medical applications, is expected to drive growth in the market in the future.
Hyaluronic Acid Market Segmentation
The Global Hyaluronic Acid Market has been segmented into Product Type, Application, and End-user
Based on the Product type, the market has been segmented into injectable and topical products.
Based on the Application, the market has been segmented into cosmetic, medical, and industrial applications.
Based on the End-user, the market has been segmented into consumer and industrial.
Hyaluronic Acid Market Key Players
Some of the key market players are
- Allergan Plc
- Merz Pharma GmbH & Co
- Sinclair Pharma
- BioMimetic Therapeutics Inc
- Anika Therapeutics Inc
- Fidia Farmaceutici
- Suneva Medical Inc.
Hyaluronic Acid Market Regional Insights
Globally, North America led the industry. This is due to the senior population being more susceptible to ailments such as osteoarthritis, vesicoureteral reflux, and cataracts. Additionally, the increased demand for minimally invasive cosmetic operations is a key component in a large part of North America.
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The Asia Pacific area is predicted to have the quickest CAGR throughout the projected period. The growing older populations in China and Japan present a substantial market for anti-aging products and services. A growing understanding of the benefits and applications of hyaluronan is driving demand. Also, Asians are affected by western beauty standards and desire a volumized look. As a result, the regional sector has grown.
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