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Hyaluronic Acid Market Driven By Increasing Demand For Cosmetics And Expected To Grow Over 21 Bn By 2032
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Asia Pacific holds the major share in the global hyaluronic acid market owing to the presence of the huge population, and manufacturing companies. Surge in number of plastic surgeries , chronic wound treatment, and growing geriatric population have boosted the market growth.
China is among the largest marketer and producer of hyaluronic acid having presence of top 5 global hyaluronic acid manufacturers. In terms of sale Huaxi Biotech accounts for over 30% of the global sale followed by Focus Biotech with 10%. In 2023, China accounted over 75% of the global hyaluronic acid raw material production capacity.
To get the Detailed Data on Demand and Supply Buying This Research Report:
By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. According to the geographical analysis, North America was in the largest market share with 43.4% of the total market in 2023. Increased prevalence of osteoarthritis and ophthalmic diseases like dry eye and cataracts, are some of the drivers of this region constituting the largest share of the market, Further, CDC reveals that one in four adults in the U.S. are affected by arthritis. In addition, favourable government reimbursement policies and escalating trends for facial esthetics are some of the drivers boosting the hyaluronic acid market growth in North America region.
The United States dominated North America in terms of its revenues in 2023, in the analyst's projection. The major driver impacting the demand of dermal fillers is the perception of the product among the female segment intending to look beautiful, which is a forecasted driver that will experience high growth in the United States. As ASPS highlighted, in 2020, more than 3.41 million soft tissue filler procedures were reported and of these, 2.61 million were hyaluronic acid-based dermal fillers.
Among all the regions, Asia Pacific is considered to experience high growth in the market for hyaluronic acid due to a rising population, the rising incidence of osteoarthritis diseases and ophthalmological disorders in China and India. Today, the Government of India has started a National Programme for Control of Blindness and Visual Impairment NPCBVI, a 100 % centrally sponsored scheme to reduce the prevalence of blindness to 0.3 % by the year 2020. The overall total under this scheme basic surgical operations were conducted to the tune of 83,44,824 and beats for FY 2022-23.
As for the overall market share, Japan stayed the largest in the Asia-Pacific region in 2023. Growing knowledge of hyaluronic acid's positive impact on skin and treatment of illnesses is also fueling the growth of market across Japan. It has also noted that the bias of social media and selfies too is rising among the young generation. They want that sleek and glamorous celebrity appearance. This is resulting in higher uptake of beauty enhancement in the country and this paper seeks to look at cosmetic surgery in further details.
List of Companies Profiled:
- Sanofi Allergan Genzyme Corporation Salix Pharmaceuticals Seikagaku Corporation F. Hoffmann-La Roche Ag HTL Biotechnology Anika Therapeutics, Inc. Shiseido Company, Limited Galderma Laboratories L.P. Zimmer Biomet Smith & Nephew Plc Ferring B.V. Lifecore Biomedical, Llc Bloomage Biotechnology Corporation Limited LG Life Sciences Ltd (LG Chem.) Maruha Nichiro, Inc.
Key Industry Developments
In May 2024 , Sanofi announced the completion of its acquisition of Inhibrx, Inc. The acquisition adds SAR447537 (formerly INBRX-101) to Sanofi's rare disease pipeline, underscoring the company's commitment to pursuing differentiated and potential best-in-class medicines that build upon our existing strengths and capabilities.
Report Coverage
The report will cover the qualitative and quantitative data on the global Hyaluronic Acid Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
Raw material manufacturers such as include: Contipro from Czech, Kewpie from Japan, Soliance from France, Bioland from South Korea, Lifecore from the United States , Evonik from Germany, Shiseido from Japan, HTL from France, and other companies that focus on the production of pharmaceutical-grade hyaluronic acid raw materials.
In 2024, L'Oréal Groupe acquires a 10% stake in Galderma. Galderma holds a broad portfolio of dermatologic drugs, dermo-cosmetics, and best-in-class hyaluronic acid (HA) fillers, neuromodulators and biostimulators.
In 2024, LG Chem Enters Chinese Osteoarthritis Treatment Market. The company partners with Yifan Pharmaceutical to launch Synovian injection for osteoarthritis in China
North America
- U.S. Canada
Europe
- Switzerland Belgium Germany France U.K. Italy Spain Sweden Netherland Turkey Rest of Europe
Asia-Pacific
- India Australia Philippines Singapore South Korea Japan China Malaysia Thailand Indonesia Rest Of APAC
Latin America
- Mexico Argentina Peru Colombia Brazil Rest of South America
Middle East and Africa
- Saudi Arabia UAE Egypt South Africa Rest Of MEA
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