(MENAFN- iCrowdNewsWire) Feb 6, 2020
The global Hyaluronic Acid Products Market is estimated to grow at a CAGR of 8.70% during the forecast period 20202025. The market is projected to grow from $8.54bn in 2019 to $14.05bn by 2025. Hyaluronic acid, also known as hyaluronan is a natural substance found in human skin that helps to retain moisture which helps to the keep skin hydrate and plump. Another distinctive feature of the hyaluronic acid is it is formed from the cell membrane and not from the Golgi apparatus. Hyaluronic acid also contains complex sugars that is used in the treatment of vesicoureteral reflux (VUR). Hyaluronic products are used in the aesthetic medical field.
- In the coming years, growing interest in Hyaluronic Acid Products is due to the rising use in the aesthetic medical field.
- Product launch was a key sustainability strategy adopted by the market players to ensure the growth of Hyaluronic Acid Products Market.
- APAC region is estimated to record the fastest growth rate during the forecast period.
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Product Type - Segment Analysis
In 2019, Beauty and Personal Care segment dominated the Hyaluronic Acid Products Market in terms of revenue. Glycosaminoglycans are long linear formations made of hyaluronic acid that are also used in the preparation of cosmetics and skin care products. Hyaluronic Acid is used in organic cosmetic products, dermal fillers, moisturizing creams, and others. Hyaluronic Acid Products. It is forecast to grow at a CAGR of 5.27% during the period under consideration.
Distribution Channel - Segment Analysis
In 2019, Offline Retail Stores segment dominated the Hyaluronic Acid Products Market in terms of revenue. Customers prefer to purchase cosmetic and skin care products mostly from retail or cosmetic stores to ensure authenticity of the product. Purchases through online retail stores are rapidly growing as websites dedicated to cosmetics are present and claims to provide quality products by meeting industry standards.
Geography - Segment Analysis
In 2019, the North America region occupied 47% of the global Hyaluronic Acid Products Market in terms of revenue. The dominance of the North America hyaluronic acid products market can be attributed to the Hyaluronic Dermal Fillers Market of the region. Celebrities and famous personalities encourage the use of the hyaluronic products in the region. APAC region is estimated to record the fastest growth rate during the forecast period.
Drivers Hyaluronic Acid Products Market
Growing Use in Aesthetic Medical Field
Hyaluronic Acid Products are used as dermal fillers in the skin care industry which is set to immensely help growth of the market. Individuals are shifting from chemicals and inorganic substances to hyaluronic acid as it has no low side effects.
Increasing Usage of Hyaluronic Acid in Cosmetic Products
Hyaluronic Acid is as an ingredient in leading cosmetic products as it helps to retain moisture and keeps the skin fresh and plumb throughout the day. Unlike chemicals and petroleum used in skincare products, hyaluronic acid does no harm to the skin and provides better results.
Challenges Hyaluronic Acid Products Market
High Costs Of Hyaluronic Acid Products
Hyaluronic acid products are priced higher than the usual cosmetic products. This is generally because hyaluronic acid is difficult to procure as a raw material and results in higher manufacturing costs. This has been a hurdle producers have been tackling to solve.
Hyaluronic Acid Products industry outlook
Product Launches along is the key strategy of the players in the Hyaluronic Acid Products Industry. Hyaluronic Acid Products top 10 companies include Allergan Inc., Anika Therapeutics Inc., F. Hoffmann-La Roche Ltd., Ferring Pharmaceuticals Inc., Galderma S.A., Salix Pharmaceuticals, Sanofi, Seikagaku Corp., Smith & Nephew Plc, and Zimmer Holdings Inc.
Hyaluronic Acid Products Market Research Scope:
The base year of the study is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Hyaluronic Acid Products market. The assessment includes the forecast, an overview of the competitive structure, the Hyaluronic Acid Products market share of the competitors, as well as the Hyaluronic Acid Products market size market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This Hyaluronic Acid Products market report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include Hyaluronic Product type, distribution channel and geographic analysis.
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