Hyaluronic Acid Industry Overview
The global hyaluronic acid market size was valued at USD 8.5 billion in 2020 and is expected to reach USD 14.4 billion by 2028, expanding at a CAGR of 7.19% over the forecast period.
The market is anticipated to witness high growth due to the aging population and the introduction of technologically advanced products. The shift in preference to minimally invasive procedures and rapid results is expected to drive the market in the coming years. Increasing aesthetic consciousness, the introduction of cost-effective treatments and products, and technological advancements are also among the key factors driving the growth of the market. A rise in the number of plastic surgeons and cosmetic clinics is contributing to an increase in the number of aesthetic procedures being performed.
Gather more insights about the market drivers, restrains and growth of the Global Hyaluronic Acid Market
The 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 the key market players including mergers and acquisitions are anticipated to propel market growth over the forecast period. Several health benefits of hyaluronic acid, such as moisture retention, faster wound healing, relief from joint pain, preventing dry eyes &discomfort, and preservation of bone strength, drive the market. 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 can prevent this and improve skin health. 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 offers one-injection (Durolane), three-injection (Gelsyn-3), and five-injection (Supartz FX) hyaluronic acid options for the treatment of knee osteoarthritis pain.
Hyaluronic Acid Market Segmentation
Based on the Application Insights, the market is segmented into Dermal Fillers, Osteoarthritis, Ophthalmic, and Vesicoureteral Reflux.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Browse through Grand View Research’s Medical Devices Industry Research Reports.
Market Share Insights
Key Companies Profile:
Market players are involved in R&D activities to introduce advanced and effective products. Some of the prominent players in the hyaluronic acid market include,
Order a free sample PDF of the Hyaluronic Acid Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Web: https://www.grandviewresearch.com
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/hyaluronic-acid-market