Global Hyaluronic Acid Raw Material Market Forecast Report 2024-2034, Featuring Zimmer Biomet, Sanof,i AbbVie, Anika Therapeutics, Lifecore Biomedical, Salix Pharmaceuticals & LG Chem
DUBLIN, Feb. 1, 2024 /PRNewswire/ — The “Global Hyaluronic Acid Raw Material Market Analysis & Forecast To 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
The global hyaluronic acid raw material market is poised for substantial growth, with projections indicating a flourish from USD 7.05 billion in 2023 to USD 14.23 billion by 2034.
This trajectory translates to a strong Compound Annual Growth Rate (CAGR) of 6.59% throughout the period from 2024 to 2034. This vibrant expansion is largely underpinned by the enlarging geriatric population, a surge in innovative product introductions, and the growing affinity towards aesthetic procedures.
Market Dynamics:
Increases in surgeries, investments in new product development, and a rising demand for anti-aging solutions fuel the market. Additionally, there is an upsurge in the adoption of minimally invasive aesthetic treatments, prompting more product launches and regulatory approvals for hyaluronic acid-based products.
Technological Advancements:
The evolution in dermal fillers, exemplified by Galderma’s Restylane Eyelight, is characteristic of the advancements propelling market growth, with cutting-edge products granting approvals from agencies like the U.S. Food and Drug Administration (FDA).
Segmental Insights:
The pharmaceutical grade hyaluronic acid stood out as a major revenue source in 2023. This is a response to its singular capabilities like water retention and joint lubrication. Meanwhile, cosmetic applications are projected to surge as hyaluronic acid becomes a staple in skin hydration and anti-aging products. For example, products like Iris and Romeo’s Reset Hyaluronic Acid + Niacinamide Serum Spray are setting industry trends by blending innovative ingredients for superior skin benefits.
Application Analysis:
Orthopedics led the market applications in 2023, driven by a spike in arthritis-related treatments and innovative drugs.Drug delivery systems are expected to experience the fastest growth due to increased R&D and revolutionary meds like Allergan Aesthetics’ SKINVIVE by JUVÉDERM.
End-User Insights:
Hospitals were the primary end-users, given their pivotal role in comprehensive care, especially in orthopedics. On the other hand, the escalating growth that cosmetic clinics are estimated to achieve is attributed to their vital role in hyaluronic acid treatments.
Regional Prospects:
North America remains at the forefront in revenue share, thanks to technology innovations and a robust healthcare infrastructure. Concurrently, the Asia Pacific region presents the most accelerated growth rate, driven by factors such as a burgeoning geriatric population, an increase in orthopedic disorders, and soaring product introductions like Laneige’s Water Bank Hyaluronic range.
Key Segments:
Grade: Orthopedic, Cosmetic, PharmaceuticalApplication: Drug Delivery, Surgical Adhesion Prevention, Orthopedics, Ophthalmology, DermatologyEnd-user: Cosmetic Clinics, Hospitals, OthersRegion: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
As the hyaluronic acid raw material market advances, stakeholders across various industries are anticipating the myriad of opportunities that await in the coming decade.
With each stride in product innovation and regulatory approval, the promise of enhanced treatment options across medical and cosmetic applications brightens the horizon for this versatile substance.
Report Segmentation:
By Grade
OrthopedicCosmeticPharmaceutical
By Application
Drug DeliveryMedical Device CoatingBiomaterials And ImplantsCell And Tissue PreservationSurgical Adhesion PreventionOrthopedicsBone RegenerationViscosupplementsOphthalmologyContact LensCataract SurgeryAqueous Eye DropDermatologyDermal FillerIntradermalWound Healing
By End-user
Cosmetic ClinicsHospitalsOther
Companies Profiled
Zimmer BiometSanofiAbbVie Inc.Smith+NephewSEIKAGAKUAnika Therapeutics Inc.Lifecore Biomedical Inc.F. Hoffmann-La Roche Ltd.Ferring B.V.Salix PharmaceuticalsLG ChemMaruha Nichiro Corporation
For more information about this report visit https://www.researchandmarkets.com/r/i2bm1n
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SOURCE Research and Markets
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