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Hyaluronic acid is a polysaccharide found in the extracellular matrix and synovial fluid that helps lubricate and cushion joints and tissues. Hyaluronic acid products are widely used in the treatment of osteoarthritis and dermal fillers. With their hydrating, anti-aging and protective properties, hyaluronic acid face creams, serums and supplements are increasingly being used in the anti-aging skincare sector. The global hyaluronic acid products market offers a wide range of products including injections, oral formulations and topical ointments and gels to target joint pain, wrinkles and dry skin conditions.
The global Hyaluronic Acid Products Market is estimated to be valued at US$ 3,343.5 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the hyaluronic acid products market is the increasing demand for combination therapies. Many companies are developing products that combine hyaluronic acid with other ingredients like peptides, retinol, antioxidants etc. to augment its effects. For instance, anti-wrinkle creams and serums containing hyaluronic acid along with caffeine, peptides or coenzyme Q10. Such combination products are gaining popularity as they target multiple signs of aging in a synergistic manner. Another trend is the launch of organic and vegan hyaluronic acid supplements and topicals by brands. Hyaluronic acid derived from non-animal sources is appealing to the growing demographic of health-conscious consumers.
Porter’s Analysis
Threat of new entrants: Low due to high capital requirements and setup costs.
Bargaining power of buyers: Moderate due to availability of substitutes.
Bargaining power of suppliers: High due to intellectual property rights and patents.
Threat of new substitutes: Moderate threat from other injectable dermal fillers.
Competitive rivalry: High due to presence of many global and local players.
Key Takeaways
The global hyaluronic acid products market is expected to witness high growth. The global Hyaluronic Acid Products Market is estimated to be valued at US$ 3,343.5 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
North America is expected to dominate the market over the forecast period due to rising adoption of minimally invasive dermal fillers and anti-wrinkle treatments. Asia Pacific is expected to grow at the fastest rate due to growing medical tourism industry and rising disposable incomes. Countries such as China, India, South Korea and Japan are expected to offer lucrative opportunities.
Key players: operating in the hyaluronic acid products market are 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
