The global hyaluronic
acid market was valued at USD
7.2 billion in 2016 and is expected to reach a value of USD 15.4 billion by
2025. Factors such as increasing concern of population regarding chemicals,
desire to get quick and evident results, and shorter recovery time are high
impact rendering drivers of this market.
The market is evolving rapidly due to the increasing
adoption of aesthetic procedures in developed and developing regions.
Increasing use of hyaluronic acid surfaces in cardiovascular implants, such as
stents and vascular grafts, for improving the compatibility coupled with
growing awareness about anti-aging products is fueling the growth. The efficacy
and evident results of hyaluronic acid based dermal fillers are attracting this
population base.
Moreover, a mounting number of obese people indicate the
rising number of people suffering from orthopedic disorders. There does not
exist any permanent cure for these disorders and treatment includes
pain-killers. However, hyaluronic acid based viscosupplements are seen as a
possible cure or at least a better option to joint pain. Orthovisc, approved in
2013, and Monovisc, approved in 2016, by Anika Therapeutics, Inc. are one of
the popular viscosupplements.
Full Research Report on Global Genomics Market Analysis:
Further Key Findings from the Study Suggest:
·
The rising obesity resulting in
osteoarthritis and joint pain has increased the demand for hyaluronic acid
injections as treatment. In 2012, 53 million people were sufferingfrom
osteoarthritis and it is projected that by 2040, the number will grow to 78
million. This can be anticipated as the exponential demand for hyaluronic acid
injections.
·
Cosmetic surgeries are booming with
approximately 14 million minimally invasive procedures performed every year. In
2013, hyaluronan-based facial fillers received FDA approvalwhichis used in
corrective measures,anti-aging procedure, and filling fine lines. These dermal fillers
constitute a large share in these procedures and witnessed 8% growth in the
year 2014.
·
In 2016, North America dominated the
hyaluronic acid market. In 2009, viscosupplement Synvisc-One, by Genzyme
Corporation received approval in U.S. and gained rapid popularity owing to its
efficacy and ease of use. Increasing understanding of aging process coupled
with the interest in dermal fillers boosted the demand for anti-aging
procedures in this region. Presence of key players such as Genzyme Corporation
and Anika Therapeutics in this region also contributes to aggressive marketing
strategies of these companies fueling the customer awareness and acceptance.
·
Asia Pacific is anticipated to emerge as
the fastest growing region during the forecast period. The growing geriatric
population in China and Japan provides a large customer base for anti-aging
products and services. Increasing awareness about applications of hyaluronan
and its efficacy fuels the demand. In addition, stabilizing economies leaves
the middle class population with surplus money to spend on these procedures.
·
Moreover, Asian population is influenced by
western beauty standards and targets volumized appearance. This has resulted in
growth of dermal filler market
·
The industry is presently dominated by few
key participants such as F. Hoffmann-La Roche Ltd., Seikagaku Corporation,
Galderma S.A, Sanofi (Genzyme), Anika Therapeutics Inc., Salix Pharmaceuticals,
Zimmer Holdings Inc, Allergan Inc., Ferring Pharmaceuticals, Inc., and Smith
& Nephew Plc.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the hyaluronic acid market by application, and region:
Hyaluronic
Acid Market Application Outlook (Market Revenue in USD Million, 2014 - 2025)
·
Dermal fillers
·
Osteoarthritis
·
Ophthalmic
·
Vesicoureteral reflux
OsteoarthritisMarket
Product Outlook (Market revenue in USD Million, 2014 - 2025)
·
Single Injection
·
Three-injection
·
Five-injection
Hyaluronic
Acid Market Regional Outlook (Market Revenue in USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
Access press release by Grand View Research : http://www.grandviewresearch.com/press-release/global-hyaluronic-acid-market
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