PUBLISHER: SkyQuest | PRODUCT CODE: 1321969
PUBLISHER: SkyQuest | PRODUCT CODE: 1321969
Hyaluronic Acid Market size was valued at USD 8.74 billion in 2021 and is poised to grow from USD 9.4 billion in 2022 to USD 16.8 billion by 2030, growing at a CAGR of 7.58% in the forecast period (2023-2030).
The global hyaluronic acid market is experiencing steady growth, driven by increasing demand from the cosmetic and healthcare sectors. Hyaluronic acid, a natural substance found in the human body, is widely used in skincare products, dermal fillers, and joint treatments. The rising awareness about the benefits of hyaluronic acid in maintaining skin health and reducing signs of aging is fueling market expansion. Technological advancements and research and development activities are further contributing to the market's growth potential.
Top-down and bottom-up approaches were used to estimate and validate the size of Hyaluronic Acid and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Hyaluronic Acid Marketis segmented on the basis of application and region. Based on application, the Hyaluronic Acid Market is segmented into Dermal Fillers, Osteoarthritis, Ophthalmic, and Vesicoureteral Reflux. Based on region, the global Hyaluronic acid market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The proliferation of plastic surgeons and cosmetic clinics has led to an increase in the number of aesthetic operations being performed. The growing demand for nonsurgical cosmetic procedures, such as Botox and hyaluronic acid injectables, is driving the hyaluronic acid industry.
Restrain
However, the hyaluronic acid market faces challenges due to rising competition and the growing popularity of other skincare compounds like ceramides and vitamin C. Additionally, strict regulations, particularly regarding skin and hair care products, could hinder the market's growth in the foreseeable future
Trend
The hyaluronic acid market stands to benefit from two prevailing trends: the increasing elderly population and the rising prevalence of obesity. Dermal fillers, particularly those made from hyaluronic acid, are the most commonly used nonsurgical injectable procedures for addressing facial soft tissue abnormalities, as reported by the American Society of Plastic Surgeons (ASAPS). These fillers are utilized to smoothen wrinkles and creases, treat under-eye dark circles, minimize scars, and rejuvenate the skin. These advancements are expected to drive the expansion of the hyaluronic acid market and sustain its growth throughout the projected period.