Hyaluronic Acid Raw Material Market to Grow with a CAGR of 6.50% through 2028
Increase in the Advancements in Technology and Product Innovation and
increase in the aging population &
beauty consciousness is expected to drive the Global Hyaluronic Acid Raw
Material Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Hyaluronic
Acid Raw Material Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Hyaluronic
Acid Raw Material Market stood at USD 6.60 billion in 2022 and is anticipated
to grow with a CAGR of 6.50% in the forecast period, 2024-2028. The awareness
among individuals regarding Hyaluronic Acid Raw Material has led to favorable
market conditions for the global Hyaluronic Acid Raw Material market. Several
factors contribute to the growth of various Hyaluronic Acid Raw Material
products.
Hyaluronic acid is widely used in the medical field
for various applications, including orthopedic treatments, ophthalmic surgery,
and wound care. In orthopedics, hyaluronic acid-based injections are used to
alleviate joint pain and treat osteoarthritis. In ophthalmology, it is used in
cataract surgery and to treat dry eyes. The growing awareness of these
applications and the increasing prevalence of joint-related diseases have
fueled the demand for hyaluronic acid as a crucial raw material in the medical
sector.
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The rise in non-surgical cosmetic procedures, such as
dermal fillers, has significantly boosted the demand for hyaluronic acid raw
material. Dermal fillers containing hyaluronic acid are used to enhance facial
features, fill in wrinkles, and restore volume, providing a more youthful
appearance without the need for surgery. The popularity of these procedures
continues to drive the demand for hyaluronic acid, and the market has seen a
surge in both patients and practitioners seeking these treatments.
In September 2023, Salix Pharmaceuticals releases
liver health annual trends report identifying increase in chronic liver disease
and cirrhosis-related deaths marking these as ninth leading cause of death in
U.S. The report found that deaths from chronic liver disease and cirrhosis have
increased by 30% in the past decade. The report also found that chronic liver
disease and cirrhosis are now the ninth leading cause of death in the United
States.
Technological advancements and innovations in the
production of hyaluronic acid have led to cost-effective and high-quality
manufacturing processes. These innovations have made hyaluronic acid more
accessible and affordable, contributing to its increased usage in various
industries. Moreover, researchers are continuously exploring new applications
for hyaluronic acid, such as drug delivery systems, tissue engineering, and
wound healing, which further expand its market potential.
In today's fast-paced world, Non-surgical cosmetic
procedures have gained popularity in the fast-paced world, as they offer the
advantage of minimal downtime. Hyaluronic acid-based dermal fillers and
injectables are at the forefront of these procedures. They provide quick
results in enhancing one's appearance, addressing concerns such as lip
augmentation and wrinkle reduction, without the need for extended recovery
periods. With busy schedules and active lifestyles, joint pain can be a
significant impediment to daily activities. Hyaluronic acid is used in
orthopedics to provide efficient and minimally invasive joint pain relief.
Viscosupplementation injections can quickly alleviate pain and improve joint
mobility, enabling individuals to resume their fast-paced lives with minimal
disruption. In a world where injuries and accidents can occur unexpectedly, the
need for rapid wound healing and scar reduction is essential. Hyaluronic
acid-based wound care products offer a moist wound environment that accelerates
the healing process and minimizes scarring. This addresses the urgency of
healing and recovery in a fast-paced environment. The pharmaceutical industry
relies on hyaluronic acid for efficient drug delivery. It enables targeted drug
release and controlled release kinetics, ensuring that medications reach their
intended destination quickly and effectively. This is especially important for
treatments that require immediate action.
the production of hyaluronic acid in their bodies
decreases, leading to skin aging and joint issues. This has driven a rising
demand for hyaluronic acid-based cosmetic products and medical treatments.
Consumers are increasingly conscious of their appearance and are seeking
anti-aging solutions, such as dermal fillers and topical skincare products
containing hyaluronic acid. As a result, the beauty and skincare industries are
key growth drivers for the hyaluronic acid raw material market.
In recent times, Hyaluronic acid is a key ingredient
in many skincare and anti-aging products. Its ability to retain moisture is
highly valued in keeping the skin hydrated and promoting a youthful appearance.
In recent times, as individuals place greater importance on maintaining healthy
and radiant skin, hyaluronic acid has gained widespread popularity in the
beauty and cosmetics industry. Non-surgical cosmetic procedures have become
more prevalent in recent years, offering individuals the opportunity to enhance
their appearance without the need for invasive surgeries. Hyaluronic acid-based
dermal fillers and injectables are at the forefront of these procedures,
providing quick and effective solutions for issues like wrinkle reduction, lip
augmentation, and facial contouring. However, the Regulatory Hurdles and
Quality Control may hinder market growth. Moreover, challenges related to Sustainability
and Sourcing Issues and Competition and Price Pressure may pose obstacles to
the Hyaluronic Acid Raw Material market in the near future.
The Global Hyaluronic Acid Raw Material Market is
segmented into source, grade, application, regional distribution, and company.
Based on its source, the Non-animal source hyaluronic
acid is favored due to ethical considerations. Traditional sources of
hyaluronic acid extraction involved animal-derived materials, such as rooster
combs or livestock. The ethical concerns regarding animal welfare and the environmental
impact of animal-derived products have led to a significant shift toward
non-animal sources. This aligns with global trends advocating for sustainable
and cruelty-free practices. Non-animal source hyaluronic acid carries a lower
risk of allergenic or immunogenic reactions compared to animal-derived
versions. Allergic reactions to animal-derived products can pose health risks,
and the use of non-animal sources has provided a safer alternative, ensuring
the health and well-being of consumers.
Based on region, North America segment is expected to
grow during the forecast period. The substantial market share held
by this regional segment can be largely attributed to the introduction of
advanced technologies and the presence of sophisticated healthcare
infrastructure. Additionally, the increasing awareness among patients regarding
the availability of aesthetic and anti-aging procedures in the region has
played a significant role. Furthermore, the rising demand for minimally
invasive cosmetic procedures stands out as a pivotal factor poised to drive
expansion.
The Asia-Pacific market is poised to be the
fastest-growing market, offering lucrative growth opportunities for Hyaluronic
Acid Raw Material players during the forecast period. Factors such as The
region anticipates a substantial surge in the demand for hyaluronic acid raw
materials, primarily attributed to the region's robust skincare and beauty
culture. Hyaluronic acid, renowned for its hydrating and anti-aging attributes,
assumes a pivotal role as a crucial ingredient in numerous skincare products. The
upswing in awareness regarding skincare regimens and the quest for efficacious
skincare solutions stands out as the driving force behind the escalating demand
for hyaluronic acid in this locale. Also, the burgeoning middle-class populace,
notably in countries such as China and India, is propelling the need for
personal care products, including skincare items infused with hyaluronic acid.
The middle-class demographic seeks skincare solutions that are both
cost-effective and high performing, rendering hyaluronic acid an attractive
choice owing to its versatility and extensive array of applications. This
confluence of factors underscores the region's promising potential for growth
in the hyaluronic acid market.
Major companies operating in Global Hyaluronic
Acid Raw Material Market are:
- AbbVie Inc.
- Salix Pharmaceuticals
- Lifecore Biomedical, Inc.
- Sanofi AG
- Anika Therapeutics, Inc.
- Zimmer Biomet
- Maruha Nichiro Corporation
- Ferring B.V.
- SEIKAGAKU CORPORATION
- F. Hoffmann-La Roche Ltd
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“The Advancements in Technology and Product Innovation
and Cosmetic Procedures and Aesthetic Enhancements are key drivers of the Hyaluronic
Acid Raw Material market. In recent years, the growing preference for
non-animal sourced hyaluronic acid due to ethical and sustainability concerns
has grown, aligning with the demand for vegan and cruelty-free products.
Moreover, the growing consumer emphasis on preventative healthcare products has
enhanced production and marketing efforts. To meet the demands of the market,
manufacturers are increasingly incorporating cutting-edge technologies with
high production efficiency. Rising consumer acceptance and continuous product
innovation will further ensure the growth of the Hyaluronic Acid Raw Material
market in the coming years.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Hyaluronic Acid Raw Material Market – Global
Industry Size, Share, Trends, Opportunity, & Forecast 2018-2028 Segmented by Application(Ophthalmology, Orthopedics, Dermatology, Drug Delivery, Medical Device
Coating, Surgical Adhesion Prevention, Biomaterials and Implants, Cell and
Tissue Preservation), By Source (Non-Animal, Animal), By Grade (Pharmaceutical,
Cosmetic, Orthopedic), By Region, Competition”, has evaluated the future growth
potential of Global Hyaluronic Acid Raw Material Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Hyaluronic Acid Raw Material Market.
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