Hyaluronic Acid Products Market

Hyaluronic Acid Products Market Snapshot (2023 to 2033)

The global hyaluronic acid products market is expected to attain a valuation of USD 3,343.5 million in 2023 and is projected to reach USD  6,838.2 million by 2033, rising at a CAGR of 7.4% during the forecast period.

The hyaluronic acid products market is expected to experience growth in the coming years, primarily due to the aging population and the introduction of advanced technologies. Factors such as a rising preference for minimally invasive procedures and the need for faster results are also expected to contribute to industry growth.

The market growth is being driven by various factors, including rising aesthetic awareness, an aging population, the introduction of affordable treatments and products, and ongoing technological advancements. The growing prevalence of lifestyle-related diseases and rising demand for healthier lifestyles have led consumers to adopt the philosophy of "prevention is better than cure." This shift in consumer behavior is shaping the demand outlook in the market.

The increasing number of patients with osteoporosis and rheumatoid arthritis is encouraging manufacturers to produce hyaluronic acid-based supplements and injectables. This is expected to have a positive influence on the market growth.

Report Attribute	Details
Expected Market Value (2023)	USD 3,343.5 million
Anticipated Forecast Value (2033)	USD 6,838.2 million
Projected Growth Rate (2023 to 2033)	CAGR 7.4%

2017 to 2022 Hyaluronic Acid Products Demand Analysis vs. Forecast 2023 to 2033

The hyaluronic acid products market was worth USD  2,382.7 million in 2017. It accumulated a market value of USD 3,142.8 million in 2022 while growing at a CAGR of 5.7% from 2023 to 2033. The aesthetic treatment of skin and other body parts has significantly improved due to advanced innovative technologies, making the skincare industry one of the rapidly evolving markets.

Homegrown brands that specialize in ingredient-based skincare are experiencing a surge in investment, and consumers are showing a keen interest. The development of hyaluronic acid-based products using advanced technology has further increased the demand for hyaluronic acid in the market.

The development of hyaluronic acid-based products and dermal filler procedures is attracting customers to the cosmetic industry. This indicates that advancements in hyaluronic dermal products are expected to create numerous opportunities for business development in the coming years.

Industry players are introducing new technologies and expanding their geographical reach through mergers and acquisitions and the approval of new products. This is expected to create favorable prospects for industry expansion. As consumers become more conscious of their skin concerns such as acne and wrinkles, they are more likely to choose the appropriate treatment and product, such as Botox injections or dermal fillers, based on the underlying cause.

This is likely to drive product sales, expand product portfolios, and propel market growth. The market is projected to be worth USD 6,838.2 million by the end of the forecast period, exhibiting a CAGR of 7.4%.

Which are Some Prominent Drivers Spearheading the Hyaluronic Acid Products Market?

Rising Geriatric Population to Propel Demand for Hyaluronic Acid Products

The increasing number of plastic surgeons and cosmetic clinics is driving the demand for aesthetic procedures, particularly nonsurgical options such as Botox and hyaluronic acid injectables. This is anticipated to propel the demand for hyaluronic acid products during the forecast period.

Hyaluronic acid's numerous health benefits, including moisture retention, faster wound healing, joint pain relief, prevention of dry eyes and discomfort, and preservation of bone strength, are anticipated to fuel demand for hyaluronic acid products in the coming years.

Hyaluronic acid supplements and injections provide relief to those with orthopedic disorders, including osteoarthritis resulting from joint wear and tear. The geriatric population is a significant target segment for hyaluronic acid-based products globally, as they are more susceptible to bone and joint-related issues such as osteoporosis and rheumatoid arthritis.

Manufacturers are producing hyaluronic acid-based supplements and injectables to cater to this increasing demand. Consequently, the hyaluronic acid market is expected to experience substantial growth during the forecast period due to the rising cases of bone and joint-related problems.

What are the Challenges Projected to be Faced by the Market?

Product Recalls to Restrain Market Expansion

Recalls of hyaluronic acid-based products due to safety concerns are expected to negatively affect market growth. Companies and regulatory authorities recalling products for issues such as inaccurate content or ingredient errors pose a challenge to market growth as patient safety is crucial when introducing products to the market.

Region-Wise Insights

What is the Growth Outlook in North America?

North America Driving Growth with Significant CAGR

The North American hyaluronic acid products market accounted for a revenue share of 34.5% in 2022. The United States alone accounted for a revenue share of 25.3% in the same year. The demand outlook for hyaluronic acid products in the region is expected to grow with a CAGR of 7.1% during the forecast period.

North America's robust healthcare industry and increased awareness are helping to dominate the hyaluronic acid market. The region's swift adoption of new skincare treatments and technologies is further anticipated to boost market growth during the forecast period.

A sizable geriatric population in North America, which is more susceptible to osteoarthritis, vesicoureteral reflux, and cataracts, is a contributing factor to the market development. Burgeoning demand for minimally invasive cosmetic surgeries is a key factor that is expected to induce growth in the regional market.

The United States cosmetic industry is a mature and thriving market with abundant product innovations. The demand from younger generations, who prefer locally sourced, organic, and sustainable cosmetic solutions, is expected to drive the growth of hyaluronic acid products market by integrating it into skin-related products.

The demand outlook in this region is expected to be propelled by the "anti-aging" category, as Gen X consumers with substantial purchasing power seek trustworthy long-term solutions for achieving an "ageless" appearance.

What is the growth outlook for Hyaluronic Acid Products in Europe?

Europe Driving Growth with a Significant CAGR

Europe accounted for a revenue share of 27.1% in the hyaluronic acid products market. The regional market is expected to reflect a CAGR of 5.4% throughout the forecast period. The European market for hyaluronic acid products is expected to grow due to the growing use of hyaluronic acid in cosmetic and personal care products. Also, increasing customer interest in physical appearance, particularly for anti-aging products is further estimated to shape the demand outlook in the region.

Western Europe is emerging as a significant market for hyaluronic acid, with Germany and the United Kingdom expected to account for over 40% of the market share in the region by end of the forecast period, following closely behind the North American market. The market of Germany and the United Kingdom are expected to grow with a CAGR of 5.3% and 5.9% during the forecast period.

Increasing incidence of skin conditions such as acne, pimples, open pores, and blackheads is further estimated to drive demand for hyaluronic acid serums during the forecast period. Also, a rising trend towards natural and organic skincare products is further expected to fuel demand for hyaluronic acid-based products in this region.

Category wise Insights

By Product Type, Which Segment is expected to Dominate?

Three Cycle Injection Product Driving Growth with a Sizeable Market Share

The three-cycle injection product segment accounted for 38.9% of revenue share in 2022. It is estimated to retain its dominant position during the forecast period.

The segment's growth is driven by factors such as the increasing incidence of osteoarthritis, rising usage of dermal fillers, and a growing number of three-cycle injection products in the market. Consequently, the three-cycle injection products segment is projected to grow at a CAGR of 7.01% during the forecast period.

Three cycle injection products can provide a more sustained and long-lasting effect compared to single injection products, making them an attractive option for patients seeking a longer-lasting result.

By Distribution Channel, Which Segment is Expected to Dominate the Market?

Hospital Pharmacies to Drive Growth with a Sizable Market Share

Hospital pharmacies accounted for a revenue share of 31.35% in 2022, in hyaluronic acid products market. This segment is expected to sustain its dominance by growing at a CAGR of 6.8% during the forecast period.

Hospitals are anticipated to dominate the market during the forecast period due to their higher patient footfall and advanced infrastructure. Additionally, hospitals provide an ideal setting for conducting various procedures, including minimally invasive or non-invasive treatments under expert supervision.

Hospital pharmacies have established distribution channels to ensure that their products are delivered quickly and efficiently to their customers. This can be particularly important for hyaluronic acid products, which may need to be stored and transported under specific conditions to maintain their efficacy.

Hyaluronic acid products used in medical settings are subject to regulatory requirements and must be approved by regulatory agencies such as the Food and Drug Administration (FDA). Hospital pharmacies are well-equipped to manage these requirements and ensure that their products comply with all relevant regulations.

Start-ups in Hyaluronic Acid Products Market

Start-ups have a significant role in recognizing potential growth prospects in any market. They are capable of generating high returns, which benefits the industry's expansion. Start-ups are generally more effective in converting inputs into outputs and are more flexible and adaptable to unstable market conditions. Below are some of the start-ups that are anticipated to drive growth in the hyaluronic acid products market:

• Hyamedix, a company specializing in hyaluronic acid formulations, has created a patented technology called hyaluronan. This technology is used to develop a range of formulations, including hydrogels, dry gels, and 3D-printed scaffolds.
• Hyalogic is a startup that has expertise in producing and promoting hyaluronic acid-based supplements for humans and animals, with product categories involving supplements, personal care, and animal care.
• Celenys is a developer of hyaluronic acid-based scaffolds for 3D cell culture, with a focus on supporting the growth of cells in three dimensions. Its first product, a crosslinked hydrogel made from hyaluronic acid, enables in-vitro 3D cell culture.

Market Competition

The hyaluronic acid products market is extremely competitive and consists of various key industry players. These players are heavily investing in manufacturing hyaluronic acid products.

The key industry players are Anika Therapeutics, Inc., Fidia Farmaceutici S.p.A., Sanofi, Ferring B.V., Viatris Inc., Croma-Pharma, Seikagaku Corporation, Zimmer Biomet, Lifecore Biomedical, LLC, LG Chem, Bioventus LLC, Smith & Nephew plc, Shanghai Jingfeng Pharmaceutical Co., Ltd., Nestle (Galderma), Bausch Health Companies Inc. (Salix Pharmaceuticals, Inc.), Allergan Plc.

Some recent developments in the market are:

Key industry players leverage organic growth strategies like acquisition, mergers, partnerships, and collaboration to enhance their product portfolio. This is expected to fuel the global hyaluronic acid products market.

• In February 2022, AbbVie Inc.'s subsidiary Allergan received Food and Drug Administration’s approval for JUVÉDERM VOLBELLA XC, which can improve infraorbital hollows in adults over 21 years old. This expanded the company's aesthetic product portfolio in the United States market.
• In February 2021, Contipro, a well-known manufacturer of hyaluronic acid based in the Czech Republic, introduced a new product for anti-aging and anti-acne treatment called HyRetin, which helps in improving skin appearance.
• Anika Therapeutics announced its acquisition of Parcus Medical, a leading sports medicine company, and Arthrosurface in January 2020. The acquisition is expected to enhance Anika's commercial capabilities and infrastructure.

Report Scope

Report Attribute	Details
Market Value in 2023	USD 3,343.5 million
Market Value in 2033	USD 6,838.2 million
Growth Rate	CAGR of 7.4% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2017 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD million and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Product, Application, Distribution Channel, Region
Regions Covered	North America; Latin America; Europe; Asia Pacific; Middle East and Africa
Key Countries Profiled	United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, China, Japan, Malaysia, Singapore, Thailand, South Korea, Australia, New Zealand, South Africa, Israel, GCC Countries
Key Companies Profiled	Anika Therapeutics; Inc.; Fidia Farmaceutici S.p.A.; Sanofi S.A; Ferring B.V.; Viatris Inc.; Croma-Pharma; Seikagaku Corporation; Zimmer Biomet Holdingd; Lifecore Biomedical LLC; LG Chem; Bioventus LLC; Smith & Nephew plc; Shanghai Jingfeng Pharmaceutical Co., Ltd.; Nestle (Galderma); Bausch Health Companies Inc. Companies Inc. (Salix Pharmaceuticals, Inc.); Allergan Plc.
Customization & Pricing	Available Upon Request

Key Segments Profiled in the Hyaluronic Acid Products Industry Survey

By Product:

• Single Cycle Injection Products
• Three Cycle Injection Products
• Five Cycle Injection Products

By Application:

• Osteoarthritis
• Ophthalmic
• Dermal Fillers
• Vesicoureteral Reflux

By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Drug Stores
• Speciality Clinics

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Frequently Asked Questions

Which Segment is Expected to Dominate by Product Type?

Three-cycle injection product segment is expected to dominate the market by product type. 

How is the historical Performance of the Market?

The market registered a CAGR of 5.7% from 2017 to 2022.

What is the Expected Growth Rate until 2033?

The market is projected to register a 7.4% CAGR until 2033.

What is the Projected Industry Size by 2033?

The industry is estimated to reach US$ 6,838.2 million in 2033.

What is the Growth Outlook in North America?

North America’s market accounted for a revenue share of 34.5% in 2022.