Hyaluronic Acid is a gooey and clear substance that is naturally produced by the body. It is mostly found in the skin, eyes, and connective tissue of the body. Hyaluronic acid works as a cushion to keep tissues and joints of the body lubricated and moist.
According to the MarkNtel Advisors’ research report, “Global Hyaluronic Acid Market Analysis, 2021”, the market is expected to grow at a CAGR of around 8% during 2021-26. The growth of the Global Hyaluronic Acid Market is attributed to the mounting ageing population and the increasing prevalence of gingivitis and ulcers. Other factors such as rising incidences of orthopaedic diseases due to growth in the number of people suffering from obesity and the mounting demand for the minimally invasive procedure are further projected to proliferate the growth of the hyaluronic acid market across the globe in the forthcoming timeline.
Impact of COVID-19
The outbreak of the COVID-19 pandemic has brought the overall healthcare industry into the limelight and has subsequently impacted the hyaluronic acid market due to a severe shortage of critical medical supplies and a rapid rise in the number of COVID-19 leading. This further created a gap between the demand and supply of the market. Further, stringent social distancing norms and restriction on movements appears to be a direct and immediate effect on the market. However, in the Post-COVID-19 condition, hyaluronic Acid companies have started to strategies R&D investments and also planning the development of new products in order to enhance the performance and optimization of the cost structure. Thus, the market is expected to grow substantially during the forecast period.
Cosmetic Grade accounted for the Largest Market Share
Based on Grade, the market is classified into Cosmetic grade, Pharmaceutical grade, and Food grade. Out of these, Cosmetic grade has acquired the largest market share in the Global Hyaluronic Acid Market in 2019 owing to the launch of a wide range of hyaluronic-based cosmetic products. Change in lifestyle, rise in the consumption of unhealthy food and increase in pollution level further resulting in several skin disorders such as wrinkles, acne, and drought. Thereby, this is further expected to drive the growth of the cosmetic grade segment in the Hyaluronic Acid market in the near future as revealed by the MarkNtel Advisors’ research report “Global Hyaluronic Acid Market Analysis, 2021”.
The osteoarthritis segment will show the substantial growth.
Based on the Application, the Osteoarthritis segment is expected to witness the fastest growth during 2021-26. The growth of this segment is attributed to a significant surge in the geriatric population that is more susceptible to joints and bone issues such as joint pain. However, the increase in the number of orthopaedic problems tends to form degenerative joint disorder due to wear and tear of the joint over time. Hence, the demand for hyaluronic acid-based products is expected to upsurge in the forthcoming timeline as revealed by the MarkNtel Advisors’ research report “Global Hyaluronic Acid Market Analysis, 2021”.
Asia-Pacific is anticipated to grow at a considerable rate in the global hyaluronic acid market during the forecasted period. Japan is projected to attain the fastest growth as the country is expected to have a high number of aged population in the world. The demand for hyaluronic acid is expected to propel due to growth in the number of bone-related problems is projected to be the highest in the near future. Moreover, constant change in healthcare services and an increase in R&D activities would drive the growth of the hyaluronic acid market in the forecast period.
The upsurge in the geriatric population is boosting the market growth
The burgeoning number of the ageing population is one of the prevalent factor driving the growth hyaluronic market. The elderly population is more vulnerable to orthopaedic problems such as arthritis and osteoporosis which increases the need of treatment that includes hyaluronic acid. According to WHO, the world’s population over the age of ’60s is nearly going to get doubled from 12% to 22% between 2015-2050. Thus, this is further anticipated to fuel the growth of the market in the forecasted period.
According to MarkNtel Advisors, the major leading players in the Global Hyaluronic Acid Market are Allergan Plc, Anika Therapeutics Inc, Sanofi, Fidia Farmaceutici, Seikagaku Corporation, Ferring Pharmaceuticals, Contipro Corporation, Kewpie Corporation, etc.
Key Questions Answered in the Market Research Report:
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Hyaluronic Acid Market?
2. What is the region-wise industry size, growth drivers and challenges?
3. What are the key innovations, opportunities, current and future trends and regulations in the Global Hyaluronic Acid Market?
4. Who are the key competitors, what are their key strength and weakness and how they perform in the Global Hyaluronic Acid Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of the Global Hyaluronic Acid Market study?
Market Outlook, Segmentation and Statistics
1) Impact of COVID-19 on Global Hyaluronic Acid Market
2) Market Size & Analysis
a) By Revenue
3) Market Share & Analysis
a) By Grade
i) Cosmetic Grade
ii) Pharmaceutical Grade
iii) Food Grade
b) By Dosage
i) Single Dosage
ii) Multi Dosage
c) By Application
iii) Pharmaceutical Ingredients
v) Dietary Supplements
d) By End-User
ii) Dermatology & Cosmetics
iii) Personal Care
e) By Product
i) Hyaluronic Acid Injection
ii) Hyaluronic Acid Sodium
f) By Region
i) North America
ii) Latin America
iv) Middle East & Africa
g) By Competitors
i) Competition Characteristics
ii) Market Share & Analysis
iii) Competitive Metrix
4) Global Hyaluronic Acid Market Hotspots & Opportunities
5) Global Hyaluronic Acid Market Regulations & Policy
6) Key Strategic Imperatives for Success and Growth
7) Global Competition Outlook
a) Competition Matrix
b) Company Profile
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Global Hyaluronic Acid Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of the Global Hyaluronic Acid Market during 2021-26?
A. The Global Hyaluronic Acid Market is anticipated to grow at a CAGR of 8% during 2021-26.
Q. Who are the key competitors or players operating in the Global Hyaluronic Acid Market?
A. Allergan Plc, Anika Therapeutics Inc, Sanofi, Fidia Farmaceutici, Seikagaku Corporation, Ferring Pharmaceuticals, Contipro Corporation, Kewpie Corporation are few of the leading players in the Global Hyaluronic Acid Market.
Q. Which grade segment would emerge as an opportunity area for players in the Global Hyaluronic Acid Market?
A. Cosmetic grade is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Hyaluronic Acid Market?
A. Asia-pacific continue to grow at a highest CAGR, presenting immense opportunities for market players of Global Hyaluronic Acid Market.