According to the report, the global hyaluronic acid market was valued at approximately USD 6.50 billion in 2014 and is expected to reach approximately USD 10.90 billion by 2020, growing at a CAGR of around 9% between 2015 and 2020. Zion Market Research has published a new report titled “Hyaluronic Acid (Single Injection, Three Injection, Five Injection) Market for Osteoarthritis, Adhesive Prevention, Drug Delivery, Dermal Fillers Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”.
Hyaluronan or HA is another name of hyaluronic acid. It is an organic compound which belongs to the division of carbohydrates and an additional segment of polysaccharides. It is an anionic, nonsulfated glycosaminoglycan dispersed extensively throughout connective, epithelial, and neural tissues. HA is manufactured in the laboratory by various processes which consist of extraction from rooster combs, in-vitro and bacterial production. It is a nonsulfated glycosaminoglycan which is available in the connective, neural and epithelial tissues of living organisms. Hyaluronic acid performs the vital role in multiple functions in the human body such as retaining water in body tissues and transporting nutrients through the body because of it naturally present in human body.
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The major driving factor for the global hyaluronic acid market is rapidly growing demand for medical and cosmetic applications such as skin care products, osteoarthritis, adhesive prevention, drug delivery, dermal fillers etc. Another key driving factor in increasing health awareness among the people. This has resulted in increasing demand for healthcare products as per the patient’s convenience in various treatments. Use of hyaluronic acid in treatments like mouth sore, aging skin, dry eye, etc. has provided the strong boost to the hyaluronic acid market. Increasing technology advancement to provide better health services expected to fuel the hyaluronic acid market over the forecast period. Additionally, increasing trend towards plastic surgeries is boosting the growth of the market. However, hyaluronic acid may cause an allergic reaction which is expected to hamper the growth of the hyaluronic acid market.
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On the basis of applications, the hyaluronic acid market has been classified into osteoarthritis, adhesive prevention, drug delivery, dermal fillers. Osteoarthritis was the largest application segment of the market due to the presence of large suitable needs and the physical properties of hyaluronic acid which increased patient comfort. Vesicoureteral reflux also one of the important application segments in the global hyaluronic acid market.
Hyaluronic acid market is segmented on the basis of different product such as single injection, three injection, and five injection. The five injection segment dominated the market with largest share of the total market in 2014. Single-injection and three-injection also accounted for significant share owing to the growing preference for short-duration treatments among patients. Single-injection and three-injection are expected to be growing at a rapid pace in the years to come.
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North America was the leading regional market for hyaluronic acid in 2014. North America is followed by Europe. The Asia Pacific also expected to dominate the global hyaluronic acid market over forecast period. However, with increasing patient awareness levels coupled with aesthetic and anti aging procedures and growing occurrence of target diseases, Asia Pacific is expected to witness lucrative growth during 2015 to 2020. Europe, Latin America and Middle East & Africa are also expected to experience significant growth of hyaluronic acid market in the years to come.
Some of the major industry participants in hyaluronic acid market includes Alcon, Inc., Allergan, Inc., Anika Therapeutics, Inc., F. Hoffmann-La Roche Ltd., Ferring Pharmaceuticals, Inc., Fidia Farmaceutici SpA, GALDERMA S.A., Hyaltech Ltd., LifeCore Biomedical LLC, Meiji Seika Pharma Co., Ltd., Merz Aesthetics, Inc., Sanofi, Salix Pharmaceuticals, Inc., Seikagaku Corporation, Shanghai Jingfeng Pharmaceutical Co., Ltd., Smith & Nephew plc, TRB CHEMEDICA INTERNATIONAL SA, Zimmer Holdings, Inc.