The global hyaluronic acid market is expected to reach USD 13.4 billion by 2024, according to a new report by Grand View Research. Factors such as increasing concern in population regarding chemicals, desire to get quick and evident results, and shorter recovery time are high impact-rendering drivers of this market.
The market is evolving rapidly due to the increasing adoption of aesthetic procedures in both developed and developing regions. The growing geriatric population coupled with growing awareness about antiaging products and aspiration to look healthy and young is fueling the market for all cosmetics. The efficacy and evident results of hyaluronic acid-based dermal fillers are attracting this population base.
The increase in obesity resulting in osteoarthritis and joint pain has boosted the demand for hyaluronic acid injections as treatment. In 2012, approximately 53 million people were diagnosed with osteoarthritis and it is projected that by 2040, the number will grow to 78 million. This can be anticipated as exponential growth in demand for hyaluronic acid injections.
Moreover, mounting number of obese people indicates the growing number of people suffering from orthopedic disorders. There is no permanent cure for these disorders and treatment includes use of pain killers. However, hyaluronic acid-based viscosupplements are seen as a possible cure or at least a better option to joint pain.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/hyaluronic-acid-market
Further Key Findings from the Study Suggest:
·
In 2015, dermal fillers dominated the
application segment due to increasing awareness about the available aesthetic
procedures and approval of effective products by the FDA. For instance, in
2013, the U.S. FDA approved hyaluronan-based facial fillers to be used in
corrective measures, filling fine lines, and antiaging procedures. These dermal
fillers constitute a large share in these procedures and witnessed 8% growth in
the year 2014. Cosmetic surgeries market is booming with approximately 14
million minimally invasive procedures being performed every year.
·
Pharmaceutical-grade hyaluronan holds the
largest share in terms of raw material used for products. It is available in a
wide range of molecular weights and manufacturers also provide customized
hyaluronic acid, especially for research purposes.
·
In 2015, non-animal based hyaluronan held the
largest share of the source segment. It is extracted from recombinant bacteria
and has uniform molecular weight; therefore, it is preferred for research
purposes. Furthermore, non-animal based hyaluronic acid is preferred as the raw
material for the production of food supplements. It eliminates the risk of
cross-contamination and the varied molecular weight does not affect the quality
of the products.
·
In 2015, North America dominated the market with
a revenue share of over 40%. In 2009, the first viscosupplement Synvisc-One, by
Genzyme Corporation, was approved in the U.S. and gained quick popularity owing
to its efficacy and ease of use.
·
Increase in understanding of aging processes
coupled with the interest in dermal fillers boosted the demand for antiaging
procedures in this region. Presence of market leaders such as Genzyme
Corporation and Anika Therapeutics in this region also contributes to fueling
customer awareness and acceptance as a result of aggressive marketing
strategies of these companies.
·
Asia Pacific is anticipated to emerge as the
fastest growing region during the forecast period. The growing geriatric
population in Japan and China provides a large customer base for antiaging
products and services. Moreover, Asian population is influenced by western
beauty standards and aims for volumized appearance. This has resulted in 14% growth
of dermal filler market as compared to the 7% in North America.
·
Some key participants of the market are Anika
Therapeutics, Inc.; Seikagaku Corporation; Galderma S.A.; Sanofi (Genzyme);
Salix Pharmaceuticals; Allergan, Inc.; F. Hoffmann-La Roche Ltd., Zimmer
Holdings, Inc.; Ferring Pharmaceuticals, Inc.; and Smith & Nephew Plc.
Browse more reports of this category by Grand
View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the hyaluronic acid market by product, application, raw material (source, grade), and region:
Hyaluronic Acid Market Product Outlook (Market revenue in USD Million, 2013 - 2024)
·
Single Injection
·
Three-injection
·
Five-injection
Hyaluronic Acid Market Application Outlook (Market Revenue in USD
Million, 2013 - 2024)
·
Dermal fillers
·
Osteoarthritis
·
Ophthalmic
·
Vesicoureteral reflux
Hyaluronic Acid Market Raw Material (by Grade) Outlook (Market
Revenue in USD Million, 2013 - 2024)
·
Pharmaceutical grade
·
Cosmetic grade
·
Food grade
Hyaluronic Acid Market Raw Material (by Source) Outlook (Market
Revenue in USD Million, 2013 - 2024)
·
Animal based
·
Non-animal based
Hyaluronic Acid Market Regional Outlook (Market Revenue in USD
Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
o
Italy
o
Russia
·
Asia Pacific
o
Japan
o
China
o
South Korea
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-hyaluronic-acid-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Blog
Site: mediafound.org, grandviewresearch.com/blogs/healthcare
No comments:
Post a Comment