Hyaluronic Acid Market is expected to reach USD 15.4 billion by 2025. Hyaluronic acid is also termed as hyaluronan or HA, is an organic compound that fits the branch of carbohydrates and further to its polysaccharides segment. HA is prepared in laboratory by numerous procedures, which includes extraction from rooster combs, in-vitro and bacterial production.
It is a non-sulfated
glycosaminoglycan, which is present in the connective, neural and epithelial
tissues of living organisms. Due to its hydrophilic nature, hyaluronic acid is
used as lubricants and shock absorbers in various joint disorders, including
osteoarthritis. The Hyaluronic Acid Market is estimated to grow at a
significant CAGR of 8.8% over the forecast period as the scope and its applications
are rising enormously across the globe.
The rapid growth of aging
population coupled with significant increase of the disease conditions such as
ulcers, osteoarthritis, and dry are documented as major factors of Hyaluronic
Acid industry that are estimated to enhance the growth in the years to come. On
the other hand, allergic reactions, other cost effective treatments along with
several regulations concerns could act as restraints in the growth of global
Hyaluronic Acid. Hyaluronic Acid Market is segmented based on product type, end
user, and region.
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Single Injection, Three
Injection, Five Injection, and other product types could be explored in
Hyaluronic Acid in the forecast period. Three-injection cycle accounted for the
substantial market share of Hyaluronic Acid and is expected to gain popularity
over the forecast period. The dose is injected into synovial fluid of knee and
hip to ease movement and improve joint pain. These doses are taken in the span
of 3 to 5 weeks depending on the condition and severity of the disease.
Single injection cycle is
expected to be the fastest growing segment with a highest CAGR in the coming
years. This is accredited to the preference of patients to short duration of
treatment and quick results. In 2016, Genzyme Corporation received the FDA
approval for its single injection treatment regimen, Synvisc-One. The product
contains high-molecular-weight polymers that act as a lubricant and reduce pain
due to osteoarthritis.
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The market may be categorized
based on applications like Osteoarthritis, Opthalmic, Dermal Fillers,
Vesicoureteral Reflux, and others that could be explored in Hyaluronic Acid in
the forecast period. Dermal fillers accounted for the significant market share
of the global hyaluronic acid industry and is expected to lead the market over
forecast period.
Vesicoureteral Reflux segment is
expected to grow at the highest CAGR over the forecast period. This is because
of the change in lifestyle, injuries, and increased rate of surgeries
performed. Endoscopic treatment with HA injection is gaining popularity as a
treatment option. Ophthalmology market sector is expected to witness increasing
demand over the forecast period. This is mainly due to the increasing incidence
of diseases such as cataracts, glaucoma, age-related macular degeneration and
dry eyes.
Globally, North America accounted
for the substantial market share of the global Hyaluronic Acid Market in terms
of revenue and is expected to remain dominant over the forecast period. The
U.S. is the most important market and accounts for majority share of North
America. The population in this region is more conscious about aging and is
open to adopt new treatment methods.
Instead, Europe and the Asia
Pacific are also estimated to have a positive influence on the future growth.
Europe is the second largest region with significant market share. However,
Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the
foremost period. Japan is one of the highest contributors to the Asia Pacific
revenue, due to its large geriatric population and growing awareness amongst
people about aesthetics.
The key players of hyaluronic
acid industry are Allergan, Anika Therapeutics, Sanofi (Genzyme), Salix
Pharmaceuticals, Dentsply International, Seikagaku Corporation, F. Hoffmann-La
Roche, GaldermaS.A, Zimmer Holdings, Smith & Nephew Plc, and Ferring
Pharmaceuticals. These players are concentrating on inorganic growth to sustain
themselves amongst fierce competition. As companies all over the world have to
believe that alliance with a market would permit them proportional market
existence and authority to declare the leadership position.
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