Hyaluronic Acid Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Hyaluronic Acid Market is segmented By Product Type (Dermal Fillers, Osteoarthritis, Ophthalmic, Vesicoureteral Reflux) By Application (Dietary Supplements, Pharmaceutical Industry, Cosmetics Industry) By End-User (Hospitals, Specialty Clinics, Dermatology Center) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Hyaluronic Acid Market Size

The Global Hyaluronic Acid Market reached USD 9.3 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 15.8 billion by 2031. The global hyaluronic acid market is expected to exhibit a CAGR of 7.1% during the forecast period (2024-2031). 

The increasing demand for cosmetics, advancements in medical applications, increasing awareness about skincare and anti-aging development, rising adoption of minimal invasive procedures, and technological advancements in productions are the recent global hyaluronic acid market trends.

For instance, the increasing popularity of beauty products has increased the use and demand for numerous skincare items. Hyaluronic acid, a common component in a wide range of cosmetic and personal care products such as moisturizers, serums, and cleansers, plays an important part in addressing this growing consumer demand. As consumer demand for skin-health-improving products grows, the hyaluronic acid market will thrive in future.

Hyaluronic acid (HA) is a naturally occurring polysaccharide, specifically a glycosaminoglycan, present in a variety of human tissues and fluids. It is a component of the extracellular matrix that is essential for tissue hydration, lubrication, and flexibility. Because of its unique qualities and advantages, hyaluronic acid is widely employed in a variety of sectors, including medicines, cosmetics, and medical devices..

Furthermore, increasing prevalence of osteoarthritis, growing geriatric population, rising demand for minimally invasive procedures, increasing awareness of the benefits of hyaluronic acid, and increasing investments in research and development are the factors expected to drive the global clinical trials market over the forecast period.

For instance, according to the Frontiers in Bioengineeering and Biotechnology article published in 2022, it states that due its excellent qualities such as biocompatibility, biodegradability, and water solubility, hyaluronic acid (HA) has been revolutionising the global hyaluronic acid market. It has shown promise in wound healing by stimulating the migration and proliferation of cells required for tissue regeneration as well as preserving moisture at the wound site. 

Also, HA can be coupled with various biopolymers to enhance its capacity to deliver particular elements. Researchers may manufacture HA-based materials with specific properties using techniques such as hydrogel creation, electrospinning, and 3D printing. As a result of its diverse applications and advancements, the biomedical area will drive the global hyaluronic acid market over the forecast period.

Hyaluronic Acid Market Scope

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Hyaluronic Acid Market Dynamics

The Growing Aging Population will Drive the Global Hyaluronic Acid Market Growth.

The world population is ageing, which is increasing the number of persons suffering from age-related conditions such as osteoarthritis, joint pain, and skin aging. Hyaluronic acid-based products and treatments are extensively used to address these concerns, related to ageing population thereby driving the global hyaluronic acid market demand in the future years.

For instance, according to World Health Organization (WHO) 2022 report, by 2030, about one out of every six people on the planet will be 60 or older. Within this time span, the share of the world population aged 60 and up is expected to increase from 1 billion in 2020 to 1.4 billion. In 2050, the number of persons aged 60 and up will more than treble, approaching 2.1 billion. Hence, owing to the above factors, the market is expected to drive over the forecast period.

The Implications of Unregulated and Alternative Dermal Fillers in the Market is Hampering the Growth of the Global Hyaluronic Acid Market.

The global market for hyaluronic acid-based dermal fillers is likely to slow in the future years due to a variety of constraints. Botulinum toxin type, a dermal filler noted for its excellent efficacy, patient satisfaction, and application in treating dynamic wrinkles, continues to dominate the non-surgical cosmetic treatment sector globally. Alternative biodegradable fillers, such as Calcium Hydroxyapatite (CaHA) and Poly-L-Latic acid, are gaining popularity as long-term implant solutions. 

Physical therapists have been seen to be wary of utilising low-cost illicit dermal filler products due to the hazards involved. To compensate for reduced hyaluronic acid dermal filler pricing, particle and polymer makers will need to advertise their goods more aggressively. Thus, owing to the above factors, the global hyaluronic acid market is expected to hamper over the forecast period.

Hyaluronic Acid Market Segment Analysis

The global hyaluronic acid market is segmented based on product type, application, end-user, and region.

The Pharmaceutical Industry Segment is Expected to Hold a Dominant Position in the Global Hyaluronic Acid Market Over the Forecast Period.

Pharmaceutical Industry segment is projected to dominate the global hyaluronic acid market accounting market share of about 38.7%, owing to the rising prevalence of chronic diseases such as osteoarthritis and cataracts, rising demand for minimally invasive procedures, new inovation and developments through clinical, and increasing awareness of the benefits of hyaluronic acid. 

Hyaluronic acid is extensively used in the pharmaceutical sector for a number of applications, such as ophthalmology, orthopaedics, and dermatology. It is used in ophthalmology as eye drops to relieve dryness and irritation, as well as to treat cataracts and intraocular lens implantation. Hyaluronic acid injections are used in orthopaedics to treat osteoarthritis, providing relief from joint discomfort and inflammation and also in viscosupplementation therapy. 

In dermatology it is used to treat skin disorders such as wrinkles, age spots, and scars by renewing the skin, lowering the appearance of signs of ageing, and improving overall skin texture. Also, many clinical trial are been conducted for the utilization of hyaluronic acid in novel way in pharma industry. For instance, Laboratoires Vivacy is conducting a clinical trial to study the novel hyaluronic acid based gel for volume deficiency in the mid-face using device IPN-21-SENSE. Total 90 participants have participated in this trial and estimated time for completion of trial is in October, 2025. Thus, owing to the above factors, this segment is expected to hold the largest market share over the forecast period.

Source: DataM Intelligence Analysis (2023)

Hyaluronic Acid Market Geographical Share

North America holds a dominant position in the global hyaluronic acid market.

North America is estimated to hold around 38.3% of the total market share throughout the forecast period. Owing to the rising prevalence high disposable income, an ageing population, growing knowledge of cosmetic injectables or dermal fillers, and growing demand for minimally invasive cosmetic surgeries are some of the key are the factors expected to drive the hyaluronic acid market in North America region over the forecast period.

According to the Aesthetic Surgery Society, there will be a 54% increase in surgical operations performed entirely in the United States in 2021. Botox and rhinoplasty were the most popular cosmetic surgery procedures in Canada, with over 18,100 and 9,900 internet searches, respectively.Thus, from the above factors, the North American region is expected to hold the largest market share over the forecast period.

Source: DataM Intelligence Analysis (2023)

Hyaluronic Acid Market Key Players

The major global players in the market include Zimmer Holdings, Inc., Hoffmann-La Roche Ltd., Ferring Pharmaceuticals, Inc., F. Merz Aesthetics, Inc., Seikagaku Corporation, Allergan Inc., and Smith & Nephew plc. And Alcon, Inc. among others.

COVID-19 Impact Analysis

The pandemic of COVID-19 has had a huge influence on the global hyaluronic acid market. Because patients are less inclined to have non-essential operations during the pandemic, demand for hyaluronic acid-based dermal fillers has decreased. Hyaluronic acid (HA) has been associated with pulmonary health and illness, which might explain some of the breathing issues encountered by COVID-19 patients. High HA levels have been linked to lung anomalies on X-ray imaging in very sick COVID-19 patients, according to research. 

COVID-19 plasma stimulates the formation and breakdown of HA in lung microvascular endothelial cells, resulting in barrier failure. In high-risk COVID-19 individuals, hyaluronan accumulation in lung alveoli can result in hyaluronan storm syndrome and acute respiratory distress syndrome (ARDS). Exogenous hyaluronidase intranasally administered may lower lung hyaluronan levels. These data point to HA as a possible target for COVID-19 patients with lung injury.

Russia Ukraine Conflict Analysis

The ongoing Russia-Ukraine conflict, have had a substantial influence on the hyaluronic acid business. Due to supply chain interruptions and lower demand in certain regions, the worldwide market is likely to slow. The difficult commercial relations between Russia and Ukraine have added to the uncertainty. However, the industry is likely to rebound in the future years as demand for cosmetic and personal care goods rises. As the hyaluronic acid market gets increasingly saturated, major firms are expected to confront strong competition. Local and regional players may develop as well, taking advantage of cheaper transportation costs and quicker delivery times.. 

Key Developments

• In March 2023, BeautyLab, an award-winning skincare brand, recently launched a new Hyaluronic Acid Intense Serum. This incredibly moisturizing serum is the newest addition to the brand's best-selling Anti-Aging Skincare range and has been designed for skin that is dehydrated/dry/prone to dryness.
• In March 2023, Givaudan Active Beauty has launched PrimalHyal Hydra[+], a novel cationic hyaluronic acid (HA) using white biotechnology. The new ingredient is said to "outperform" regular HA's hydration advantages by at least a factor of two, making it suitable for rinse-off and leave-on treatments.
• In May 2022, Shiseido Company, Limited ("Shiseido") developed "Shape-Shifting HA Technology" to control the volume of hyaluronic acid (HA). HA forms a water retention film on the skin's surface and has a high moisturizing effect, but it’s very large molecular size hinders penetration into the stratum corneum after application. With the new technology, HA shrinks via the addition of magnesium ions (Mg ions).

Why Purchase the Report?

• To visualize the global hyaluronic acid market segmentation based on the product type, application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of hyaluronic acid market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global hyaluronic acid market report would provide approximately 49 tables, 53 figures, and 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies