Global Hyaluronic Acid Market By Type (Five-Injection Cycle, Single-Injection Cycle, Three-Injection Cycle), By Application (Vesicoureteral Reflux, Ophthalmic Surgery, Osteoarthritis, Dermal Fillers), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2028

Report Overview:

In 2022, the global hyaluronic acid market size was valued at USD 6.8 Bn, and this market is estimated to reach USD 14 billion registering the highest CAGR of 7.7% during the forecast period of 2023 and 2032.

The market is expected to grow due to the aging population and the introduction of a technologically advanced hyaluronic acid products market. Growing preference for minimally invasive surgery and the need for faster results are likely to drive the growth of the industry in the coming years.

Growing beauty awareness, the aging population, the introduction of low-cost treatments and products, and technological advances are some of the factors driving growth in the industry.

An increase in the number of plastic surgeons and cosmetic clinics contributes to the fact that the number of cosmetic procedures performed is increasing. Increasing acceptance of non-surgical cosmetic procedures such as botox and hyaluronic acid injections is driving the market.

New product development and increasing adoption of business strategies by major market players, including mergers and acquisitions, are expected to drive growth during the forecast period.

Demand for hyaluronic acid will continue to grow as it offers several health benefits, such as retaining water, speeding wound healing, relieving joint pain, preventing dry eyes and discomfort, and maintaining bone strength.

Key Takeaways

• Market Growth: In 2022, the global hyaluronic acid market reached USD 6.8 billion and is projected to experience compound annual growth rates CAGR of 7.7% between 2023-2032.
• Hyaluronic Acid Sources: Natural sources currently dominate the market due to their wide application across industries; however, synthetic forms may see growth at an equally rapid rate.
• Analyzing By Type Analysis: By type, the market can be segmented into sodium acetylated hyaluronic acid, sodium hyaluronate, and hydrolyzed hyaluronic acid; hydrolyzed hyaluronic acid recorded the highest sales share during 2022.
• By Application Analysis: Osteoarthritis was one of the top contributors to total revenue worldwide in 2022, contributing over 43.8% of it. Growth for this market can be expected with increasing elderly population numbers as well as a preference shift towards minimally invasive surgical procedures.
• End User Analysis: With respect to end-use analysis, the market can be divided into personal care products (moisturizers), cosmetics products, food & agriculture items as well as pharmaceuticals utilizing Hyaluronic acid as the active ingredient for their production; such as moisturizers and face masks that utilize Hyaluronic Acid’s moisturizing ability and elasticizing power in order to increase skin hydration while decreasing wrinkle visibility.
• Drivers: Rising demand for aesthetic procedures, increased research and development efforts, and expanding awareness of hyaluronic acid’s cosmetic benefits are major market drivers.
• Restrictions: Safety concerns and adverse side effects caused by incorrect administration of hyaluronic acid can impede market expansion, particularly in non-professional settings.
• Opportunities: Technological advancements in manufacturing processes, increased public-private funding partnerships, and expanding use of hyaluronic acid in various medical and cosmetic applications offer market players growth prospects.
• Trends: An increase in non-invasive cosmetic procedures is becoming more popular and research into its possible health and aesthetic advantages is expanding, hyaluronic acid market trend in today’s market.
• Regional Dominance: North America holds an estimated 42.4% market share for Hyaluronic acid products and their use is anticipated to expand, driven by both higher disposable incomes and greater awareness among its population of their aging.
• Key Players in the Hyaluronic Acid Market: Major players involved in this industry include Allergan Plc, Anika Therapeutics Inc., Galderma S.A., and Zimmer Biomet Holdings Inc. – among many others.

By Type Analysis

Hydrolyzed Hyaluronic Acid Covers a Major Market Share over Other Products.

By type, the market is divided into sodium acetylated hyaluronic acid, sodium hyaluronate, and hydrolyzed hyaluronic acid. Hydrolyzed hyaluronic acid accounted for the largest share of sales in 2022.

Hydrolyzed hyaluronic acid has grown significantly in various industries such as pharmaceuticals and personal care due to several consumer benefits and increased awareness. Skin and body care are one of the major industries seeing high intakes of hydrolyzed hyaluronic acid as many consumers are interested in using skin care products that can improve the appearance of their skin.

This type of hyaluronic acid is commonly used in skin care products because it is easily absorbed by the skin, leading to hydration and a youthful appearance.

The demand for hydrolyzed hyaluronic acid is driven by drug delivery, and wound healing, and its potential use as a food additive has also increased significantly in the pharmaceutical and food industries. These factors have significantly accelerated the revenue growth of the segment.

Sodium hyaluronate is increasingly used in dermal fillers that are administered into areas of the skin to fill wrinkles and replace them with a younger appearance. Demand for sodium hyaluronate products is therefore expected to act as a strong driver for the preparation of sodium hyaluronate products during the forecast period.

By Application Analysis

Osteoarthritis Captures Major Market Share

By application, the market is segmented into aesthetics, osteoarthritis, cosmetics, ophthalmology, and pharmaceutical ingredients. Osteoarthritis dominated the global industry, accounting for over 43.8% of total revenue in 2022. The industry is expected to grow due to the growing geriatric population and increasing preference for minimally invasive surgery.

Nearly 90% of viscosupplements prescriptions are for treating knee osteoarthritis. According to the International Osteoarthritis Research Society (OARSI) in the United States, both corticosteroids and hyaluronic acid injections can be used to treat osteoarthritis, but viscosupplements are slightly more effective than corticosteroids.

Hyaluronic acid is being used in large amounts in cosmetic applications due to its several benefits. For example, hyaluronic acid dermal fillers can be used to fill wrinkles and fine lines, add volume to cheeks, and define lips.

The overall appearance of the skin can be improved by reducing the appearance of wrinkles. Rising consumer acceptance of hyaluronic acid-based non-surgical cosmetic procedures and treatments has contributed significantly to the revenue growth of this segment.

Adding hyaluronic acid to artificial tears can improve and prolong water retention. In eye drops, the high content of hyaluronic acid stabilizes the tear film and increases the number of conjunctival goblet cells. According to a report, hyaluronic acid in eye drops exerts an anti-inflammatory effect. It protects and promotes wound healing.

Clinical studies have shown that high molecular weight hyaluronic acid eye drops may be an alternative treatment for patients with severe dry eyes. The rising demand for hyaluronic acid for ophthalmology-related issues is helping the segment to cover more market.

By End-User Analysis

The Personal Care Segment Covers Major Share in Hyaluronic Acid Market

Based on end-users, the market is divided into personal care, cosmetics, food, and pharmaceuticals. Hyaluronic acid is rapidly being used in the manufacture of personal care products such as moisturizers, serums, and face masks to improve skin hydration and elasticity and reduce the appearance of wrinkles.

We use hyaluronic acid in the manufacture of dermal fillers and skin-moisturizing products. Also, increasing customer awareness of personal care products and growing perception of the benefits of hyaluronic acid for the skin have led to the growth of hyaluronic acid in the personal care segment. It is expected to drive revenue growth in the market.

The cosmetics industry segment is expected to grow during the forecast period. The burgeoning fashion industry has led to an increase in skincare products, which in turn has stimulated demand for hyaluronic acid, serving as the main driver of the market during the forecast period. The demand for hyaluronic acid-based products also increased.

Low levels of hyaluronic acid in the body can lead to osteoarthritis, skin wrinkles, and atherosclerosis. These factors increase the need for hyaluronic acid in many consumers. This product is used as an additive in foods and beverages.

By absorbing and digesting the hyaluronic acid content of the human body, it increases the deficiency of HA and helps to make the skin smooth and soft. The rapidly growing food and beverage industry bound with product development is expected to It will drive the demand for hyaluronic acid during the period.

Driving Factors

Increasing Demand for Hyaluronic Acid-containing Products

Along with the heightened sense of beauty and the aging population, beauty treatments such as Botox, dermal filling, and plastic surgery are increasing. These procedures require large amounts of hyaluronic acid due to the compound’s ability to provide effective augmentation of selected anatomical areas.

In addition, for hyaluronic acid fillers and facial improvement, simultaneous administration of surgical methods can serve as an effective tool for maximizing a comprehensive treatment plan. These factors, therefore, project an increase in demand for the compound to be the major driver in the hyaluronic acid market during the forecast period.

Hyaluronic acid-based dermal fillers are a rapidly growing non-invasive cosmetic procedure worldwide. These are popular cosmetic procedures for facial repair, facial volume restoration, and aesthetic improvement.

They are very versatile and are used for fine lines and wrinkles. In addition, they are also used in anti-aging products to treat acne, wrinkles, and scars, and to enhance lips, cheeks, and chin. The growing geriatric population has increased the need for non-invasive surgical protocols.

The implementation of hyaluronic acid-based dermal fillers reduces the likelihood of opting for routine surgery. The cost of treatment is minimal, and this factor boosts the market growth.

Restraining Factors

High Cost and Complex Manufacturing Hampers the Market

The high cost of the compound, along with the complex manufacturing process, acts as a hindrance to the growth of the hyaluronic acid market. This limits the production of the compound by small manufacturers, thereby discouraging the entry of new players into the market.

This, in turn, greatly affects the profitability of the industry. In addition, some side effects, such as itching and pain during treatments, oppose the use of the formulation to some extent. Thus, such factors are projected to hamper the market growth in the coming years.

Physicians are hesitant to use cheap illicit products because of the risks involved. Conversely, illicit products offered in the dermal filler segment intensify price competition, especially in the hyaluronic acid segment. Key companies offering higher unit prices can compete by proposing various product bundles and selling products in different product categories.

To offset the falling prices of hyaluronic acid dermal fillers, particle and polymer manufacturers should advertise their products. The products available in the segments are different. Manufacturers focus more on the thickness of the material used in dermal fillers than on cost.

Key Market Segments

By Type

• Sodium Acetylated Hyaluronic Acid
• Sodium Hyaluronate
• Hydrolyzed Hyaluronic Acid

By Application

• Osteoarthritis
• Aesthetics
• Cosmetics
• Ophthalmology
• Pharmaceutical Ingredients

By End-User

• Personal Care
• Cosmetics
• Food
• Pharmaceuticals

Growing Opportunities

Introduction of Advanced Technology and Developments Increasing the Market Growth

The skin care industry is one of the fastest changing industries, with highly innovative technologies improving the aesthetic treatment of the skin and other body parts when needed. Investment in active ingredients and ingredient-based skincare is increasing with significant consumer engagement.

The advanced and innovative technology and development of hyaluronic acid-based products have increased the demand for hyaluronic acid in the market.

Hyaluronic acid skin products are based on hyaluronic acid to correct facial imperfections, balance volume, and highlight specific areas of the face. It provides an efficient way the manufacture hyaluronic acid-based products and dermal fillers that are drawing customers toward cosmetics.

This means that technological advancements in hyaluronic acid skin products are expected to bring market growth opportunities.

Latest Trends

Increase in the Acceptance of Anti-Aging Creams and Lotions

Hyaluronic acid is known for its skin benefits, such as relieving dry skin and reducing the appearance of fine lines. Hyaluronic acid holds more weight in water within skin cells, which helps to retain moisture and makes an excellent moisturizer. It improves skin hydration and collagen production, fights free radicals, and maintains skin elasticity.

They also act as moisturizers, a category of hygroscopic skincare ingredients that absorb moisture from the environment. With increasing consumer demand for anti-aging and multifunctional personal care products, personal care product manufacturers are incorporating multiple multifunctional ingredients into single product trends.

Regional Analysis

North America Dominates the Hyaluronic Acid Market.

North America is expected to dominate the hyaluronic acid market, with the United States being the largest contributor. High disposable income and aging awareness of the population are expected to drive the market in the region. North America covers a major share of 42.4% of the hyaluronic acid market.

The European hyaluronic acid market has the second largest market share, owing to rising beauty awareness, rapid technological advancements, shortened surgical times, etc., driving the European market.

Additionally, the German hyaluronic acid market held the largest market share, while the UK hyaluronic acid market was the fastest-growing market in the European region.

The Asia-Pacific hyaluronic acid market is expected to grow at a significant growth rate during the forecast period. This is due to rising medical needs in emerging markets, growing awareness of minimally invasive techniques, and increasing disposable income.

Moreover, the Chinese hyaluronic acid market held the largest market share, while the Indian hyaluronic acid market grew the fastest in the Asia-Pacific region. Asia-Pacific is therefore expected to register the highest growth rate during the forecast period.

Key Regions and Countries

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia & CIS
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Key Player Analysis

The key market players in the hyaluronic acid industry are Allergan, Anika Therapeutics Inc., Sanofi S.A., Genzyme Corporation, Salix Pharmaceuticals, Seikagaku Corporation, Galderma SA, Zimmer Holdings, Inc., Smith & Nephew Plc, Ferring Pharmaceuticals, Inc., F. Hoffmann-La Roche Ag, etc.

DSM (Netherlands), a global science-based health, nutrition, and ingredients company, combines unique competencies in the life sciences. DSM’s products and services are used in a variety of markets and applications around the world to support healthier, more sustainable, and more enjoyable lifestyles.

In March 2021, Royal DSM, a science-based company working in the fields of nutrition, wellness, and sustainable living, launched different forms of hyaluronic acid, which improves skin hydration and strengthens the protective barrier. Low molecular weight HYA-ACT locks in moisture for extra hydration and soothes reddened skin. Ultra-low molecular weight HYA-ACT XS provides continuous, intense hydration, moisturizing, plumping, and tightening fine lines.

Top Key Players

• Allergan, Inc.
• Sanofi S.A.
• Genzyme Corporation
• Anika Therapeutics, Inc.
• Salix Pharmaceuticals
• Seikagaku Corporation
• F. Hoffmann-La Roche AG
• Galderma Laboratories L.P.
• Zimmer Biomet
• Smith & Nephew Plc
• Bioxis Pharmaceuticals
• Other Key Players

Recent Developments

• In February 2022, Allergan received US Food and Drug Administration (FDA) approval for JUVÉDERM VOLBELLA XC to improve the orbit of 21 years and older. This allowed the company to expand its beauty product portfolio in the US market.
• In March 2021, Poundland launched a new anti-aging retinol and hyaluronic acid skin care profile, expanding up to 6 range. The required ingredient is said to be a driving force for fighting early signs of aging and providing superior hydration.

Report Scope