Growing Awareness About Anti-Aging Products is Fueling the "Hyaluronic Acid Market" Growth

The global Hyaluronic Acid Market was valued at USD 7.2 billion in 2016 and is expected to reach a value of USD 15.4 billion by 2025. Factors such as increasing concern of population regarding chemicals, desire to get quick and evident results, and shorter recovery time are high impact rendering drivers of this market.

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The market is evolving rapidly due to the increasing adoption of aesthetic procedures in developed and developing regions. Increasing use of hyaluronic acid surfaces in cardiovascular implants, such as stents and vascular grafts, for improving the compatibility coupled with growing awareness about anti-aging products is fueling the growth. The efficacy and evident results of hyaluronic acid based dermal fillers are attracting this population base.

Moreover, a mounting number of obese people indicate the rising number of people suffering from orthopedic disorders. There does not exist any permanent cure for these disorders and treatment includes pain-killers. However, hyaluronic acid based viscosupplements are seen as a possible cure or at least a better option to joint pain. Orthovisc, approved in 2013, and Monovisc, approved in 2016, by Anika Therapeutics, Inc. are one of the popular viscosupplements.

Further Key Findings from the Study Suggest:

• The rising obesity resulting in osteoarthritis and joint pain has increased the demand for hyaluronic acid injections as treatment. In 2012, 53 million people were sufferingfrom osteoarthritis and it is projected that by 2040, the number will grow to 78 million. This can be anticipated as the exponential demand for hyaluronic acid injections.
• Cosmetic surgeries are booming with approximately 14 million minimally invasive procedures performed every year. In 2013, hyaluronan-based facial fillers received FDA approvalwhichis used in corrective measures,anti-aging procedure, and filling fine lines. These dermal fillers constitute a large share in these procedures and witnessed 8% growth in the year 2014.
• In 2016, North America dominated the hyaluronic acid market. In 2009, viscosupplement Synvisc-One, by Genzyme Corporation received approval in U.S. and gained rapid popularity owing to its efficacy and ease of use. Increasing understanding of aging process coupled with the interest in dermal fillers boosted the demand for anti-aging procedures in this region. Presence of key players such as Genzyme Corporation and Anika Therapeutics in this region also contributes to aggressive marketing strategies of these companies fueling the customer awareness and acceptance.
• Asia Pacific is anticipated to emerge as the fastest growing region during the forecast period. The growing geriatric population in China and Japan provides a large customer base for anti-aging products and services. Increasing awareness about applications of hyaluronan and its efficacy fuels the demand. In addition, stabilizing economies leaves the middle class population with surplus money to spend on these procedures.
• Moreover, Asian population is influenced by western beauty standards and targets volumized appearance. This has resulted in growth of dermal filler market
• The industry is presently dominated by few key participants such as F. Hoffmann-La Roche Ltd., Seikagaku Corporation, Galderma S.A, Sanofi (Genzyme), Anika Therapeutics Inc., Salix Pharmaceuticals, Zimmer Holdings Inc, Allergan Inc., Ferring Pharmaceuticals, Inc., and Smith & Nephew Plc.

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