Hyaluronic Acid Market
Hyaluronic Acid Market Size, Share & Trends Analysis Report by Grade (Food Grade, Cosmetic Grade, and Pharmaceutical Grade), and by Application (Cosmetics, Aesthetic (Dermal Filler), Osteoarthritis, Ophthalmic, Dietary Supplements, and Others) Forecast Period (2024-2031)
Hyaluronic acid market is anticipated to grow at a moderate CAGR of 9.6% during the forecast period (2024-2031). Hyaluronic acid is a naturally occurring glycosaminoglycan found throughout the body's connective tissue. The growing demand for hyaluronic acid for cosmetic procedures is a key factor driving the global market. However, the various side effects such as skin infections, immune-related problems due to an excessive amount of chemicals, and the high amount of acid are hampering the market growth. However, the development of new and natural or low chemical-based and less acidic products is anticipated to create huge opportunities for the hyaluronic acid demand.
Market Dynamics
Growing Aesthetic Procedures
The growing urge of consumers to look aesthetically appealing with increasing age has driven the minimally invasive aesthetic procedures demand globally. Hyaluronic acid filler injectable replenishes the natural hyaluronic acid in the skin by adding volume and hydration to areas of the face including the lips, cheeks, and under-eye hollows for a radiant look. Thus, the growing number of minimally invasive aesthetic procedures has contributed significantly to the heightened hyaluronic acid demand. According to the American Society of Plastic Surgeons, in 2023, 5.3 million cosmetic minimally invasive procedures were conducted globally with hyaluronic acid fillers including Juvederm Ultra, Ultra Plus, Voluma, Volbella, Vollure, Restylane Lyft, Restylane Silk, Belotero, Bolvella, Restylane compared to 4.9 million procedures in 2022, depicting an increase of 8.0%.
Market Segmentation
- Based on the grade, the market is segmented into food grade, cosmetic grade, and pharmaceutical grade.
- Based on the application, the market is segmented into cosmetics, aesthetics (dermal fillers), osteoarthritis, ophthalmic, dietary supplements, and others.
Osteoarthritis to Exhibit Significant Growth Based on Application
Hyaluronic acid can be directly injected into the joints for instant pain relief and can delay surgical procedures in some cases. The increasing prevalence of orthopedic disorders such as arthritis, osteoporosis, and knee injuries globally has created a heightened demand for hyaluronic acid injections. According to the CDC, 18.9% of adults in the US aged 18 and older were diagnosed with arthritis in 2022, with women more likely to be affected than men. The prevalence of arthritis is projected to increase to 78.4 million adults by 2040. Thus, with the increasing cases of bone and joint-related issues, the market for hyaluronic acid is anticipated to grow during the forecast period. Additionally, several insurance companies cover hyaluronic acid for medically necessary osteoarthritis treatment. This factor is further promoting the growth of this market segment.
Regional Outlook
The global hyaluronic acid market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Hyaluronic Acid Market Growth by Region 2024-2031
China is a Hotspot for Major Investment in the Hyaluronic Acid Market
In the past decade, China’s aesthetics medicine sector growth has outpaced the global market. The market players in the region are actively adopting various business strategies to leverage the high market potential of China. For instance, Galderma launched its hyaluronic acid injectable filler, Restylane VOLYME in China in May 2023. The company is also introducing its complementary shape-up Holistic Individualized Treatment (HIT) in the country, which addresses aging concerns caused by loss of structural support in the mid-face. The availability of these targeted solutions for the mid-face region is demonstrative of Galderma’s commitment to meeting patient and injector needs in China.
Further, in July 2024, LG Chem introduced its single-injection osteoarthritis treatment, Synovian in China through its Chinese partner Yifan Pharmaceutical under the brand name Hyruan One. Synovian is a cross-linked hyaluronic acid treatment for knee osteoarthritis developed using LG Chem’s proprietary technology. The company intends to expand its presence in China, with this launch.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the hyaluronic acid market include AbbVie Co. (Allergan Plc), Merz Pharma GmbH & Co. KGaA, Zimmer Biomet, Smith & Nephew Plc, Galderma, and Sanofi SA among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.
Recent Development
- In May 2023, Evolus, Inc. entered into a definitive agreement to be the exclusive US distributor of a line of five unique dermal fillers currently in late-stage development. The addition of a filler line expands the company’s total addressable US market by 70.0% by adding a $1.6 billion US filler market opportunity to the existing $2.3 billion aesthetic neurotoxin market, with both markets expected to nearly double by 2028.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the hyaluronic acid market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Industry Trends
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. AbbVie Inc. (Allergan)
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Galderma S.A.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Sanofi S.A.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Smith & Nephew Plc
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Zimmer Biomet Holdings, Inc.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Merz Pharma GmbH & Co. KGaA
3.7.1. Overview
3.7.2. Financial Analysis
3.7.3. SWOT Analysis
3.7.4. Recent Developments
3.8. Key Strategy Analysis
4. Market Segmentation
4.1. Global Hyaluronic Acid Market by Grade
4.1.1. Food Grade
4.1.2. Cosmetic Grade
4.1.3. Pharmaceutical Grade
4.2. Global Hyaluronic Acid Market by Application
4.2.1. Cosmetics
4.2.2. Aesthetics (Dermal Fillers)
4.2.3. Osteoarthritis
4.2.4. Ophthalmic
4.2.5. Dietary Supplements
4.2.6. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Anika Therapeutics
6.2. Bioplus Co., Ltd.
6.3. Bloomage Biotechnology Corp. Ltd.
6.4. Ferring Pharmaceuticals Inc.
6.5. Kikkoman Corp.
6.6. Laboratoires Vivacy, S.A.S.
6.7. Lifecore Biomedical (Landec Corp.)
6.8. LG Chem Ltd.
6.9. Liuzhou Shengqiang Biotech Co., Ltd.
6.10. Seikagaku Corp.
6.11. Shijiazhuang Lateen Chemical Co., Ltd.
6.12. SKIN TECH PHARMA GROUP, S.L
6.13. SpecialChem S.A.
6.14. SYMATESE GROUP
6.15. Suneva Medical
6.16. Teoxane SA
6.17. Vital Esthetique
1. Global Hyaluronic Acid Market Research And Analysis By Grade, 2023-2031 ($ Million)
2. Global Food Grade Hyaluronic Acid Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Cosmetic Grade Hyaluronic Acid Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Pharmaceutical Grade Hyaluronic Acid Market Research And Analysis By Region, 2023-2031 ($ Million)
5. Global Hyaluronic Acid Market Research And Analysis By Application, 2023-2031 ($ Million)
6. Global Hyaluronic Acid For Cosmetics Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Hyaluronic Acid For Aesthetics (Dermal Filler) Market Research And Analysis By Region, 2023-2031 ($ Million)
8. Global Hyaluronic Acid For Osteoarthritis Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global Hyaluronic Acid For Ophthalmic Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global Hyaluronic Acid For Dietary Supplements Market Research And Analysis By Region, 2023-2031 ($ Million)
11. Global Hyaluronic Acid For Other Application Market Research And Analysis By Region, 2023-2031 ($ Million)
12. Global Hyaluronic Acid Market Research And Analysis By Region, 2023-2031 ($ Million)
13. North American Hyaluronic Acid Market Research And Analysis By Country, 2023-2031 ($ Million)
14. North American Hyaluronic Acid Market Research And Analysis By Grade, 2023-2031 ($ Million)
15. North American Hyaluronic Acid Market Research And Analysis By Application, 2023-2031 ($ Million)
16. European Hyaluronic Acid Market Research And Analysis By Country, 2023-2031 ($ Million)
17. European Hyaluronic Acid Market Research And Analysis By Grade, 2023-2031 ($ Million)
18. European Hyaluronic Acid Market Research And Analysis By Application, 2023-2031 ($ Million)
19. Asia-Pacific Hyaluronic Acid Market Research And Analysis By Country, 2023-2031 ($ Million)
20. Asia-Pacific Hyaluronic Acid Market Research And Analysis By Grade, 2023-2031 ($ Million)
21. Asia-Pacific Hyaluronic Acid Market Research And Analysis By Application, 2023-2031 ($ Million)
22. Rest Of The World Hyaluronic Acid Market Research And Analysis By Region, 2023-2031 ($ Million)
23. Rest Of The World Hyaluronic Acid Market Research And Analysis By Grade, 2023-2031 ($ Million)
24. Rest Of The World Hyaluronic Acid Market Research And Analysis By Application, 2023-2031 ($ Million)
1. Global Hyaluronic Acid Market Share By Grade, 2023 Vs 2031 (%)
2. Global Food Grade Hyaluronic Acid Market Share By Region, 2023 Vs 2031 (%)
3. Global Cosmetic Grade Hyaluronic Acid Market Share By Region, 2023 Vs 2031 (%)
4. Global Pharmaceutical Grade Hyaluronic Acid Market Share By Region, 2023 Vs 2031 (%)
5. Global Hyaluronic Acid Market Share By Application, 2023 Vs 2031 (%)
6. Global Hyaluronic Acid For Cosmetic Market Share By Region, 2023 Vs 2031 (%)
7. Global Hyaluronic Acid For Aesthetics (Dermal Filler) Market Share By Region, 2023 Vs 2031 (%)
8. Global Hyaluronic Acid For Osteoarthritis Market Share By Region, 2023 Vs 2031 (%)
9. Global Hyaluronic Acid For Ophthalmology Market Share By Region, 2023 Vs 2031 (%)
10. Global Hyaluronic Acid For Dietary Supplements Market Share By Region, 2023 Vs 2031 (%)
11. Global Hyaluronic Acid For Other Application Market Share By Region, 2023 Vs 2031 (%)
12. Global Hyaluronic Acid Market Share By Region, 2023 Vs 2031 (%)
13. US Hyaluronic Acid Market Size, 2023-2031 ($ Million)
14. Canada Hyaluronic Acid Market Size, 2023-2031 ($ Million)
15. UK Hyaluronic Acid Market Size, 2023-2031 ($ Million)
16. France Hyaluronic Acid Market Size, 2023-2031 ($ Million)
17. Germany Hyaluronic Acid Market Size, 2023-2031 ($ Million)
18. Italy Hyaluronic Acid Market Size, 2023-2031 ($ Million)
19. Spain Hyaluronic Acid Market Size, 2023-2031 ($ Million)
20. Rest Of Europe Hyaluronic Acid Market Size, 2023-2031 ($ Million)
21. India Hyaluronic Acid Market Size, 2023-2031 ($ Million)
22. China Hyaluronic Acid Market Size, 2023-2031 ($ Million)
23. Japan Hyaluronic Acid Market Size, 2023-2031 ($ Million)
24. South Korea Hyaluronic Acid Market Size, 2023-2031 ($ Million)
25. Rest Of Asia-Pacific Hyaluronic Acid Market Size, 2023-2031 ($ Million)
26. Rest Of The World Hyaluronic Acid Market Size, 2023-2031 ($ Million)
27. Latin America Hyaluronic Acid Market Size, 2023-2031 ($ Million)
28. Middle East And Africa Hyaluronic Acid Market Size, 2023-2031 ($ Million)
