Hyaluronic Acid Raw Material Market Analysis North America, APAC, Europe, Middle East and Africa, South America - US, China, France, UK, Germany - Size and Forecast 2024-2028

Hyaluronic Acid Raw Material Market Size 2024-2028 

The hyaluronic acid raw material market size is forecast to increase by USD 3.34 billion at a CAGR of 7.08% between 2023 and 2028. The Hyaluronic Acid (HA) raw material market is experiencing significant growth, driven by the increasing demand for safe and stable drugs that require minimal monitoring. This trend is particularly prominent in the pharmaceutical and cosmetic industries, where HA is widely used for its viscoelastic properties and ability to retain moisture. Another key growth factor is the rising number of acquisitions and joint ventures in the industry, as companies seek to expand their product offerings and gain a competitive edge. However, the market is not without challenges, including the fluctuating prices of raw materials, which can impact profitability and supply chain stability. Despite these challenges, the market is expected to continue growing, fueled by the increasing demand for HA-based products and the ongoing research and development efforts in the field.

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The market is witnessing significant growth due to its extensive applications in various industries, including Orthopedics, Ophthalmology, Drug Delivery, Dermatology, and Cosmetic Clinics. In Orthopedics, HA is used in surgeries for joint disorders such as osteoarthritis, while in Ophthalmology, it is utilized in symptom management for eye-related disorders, including cataract removal and corneal transplantation. The pandemic restrictions have led to a decline in injection-based elective procedures, but the demand for HA-based supplements has swelled among diabetic patients and those with chronic wounds. In the field of Cosmetics, HA is a key ingredient in serums and moisturizers, driving the growth of the skincare products market. HA also plays a crucial role in Localized drug delivery systems, offering benefits such as improved bioavailability and reduced side effects. The increasing prevalence of comorbidities, such as SARS-CoV2 viral infection, is further fueling the demand for HA-based products in the healthcare sector. Overall, the market is expected to continue its growth trajectory, driven by its diverse applications in various industries.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • Dermatology
  • Orthopedics
  • Surgical adhesion prevention
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

By Application Insights

The dermatology segment is estimated to witness significant growth during the forecast period. Hyaluronic acid (HA), a natural polysaccharide, is widely used in various aesthetic and medical applications due to its biocompatible and biodegradable properties. In the personal care industry, HA is incorporated into lotions, creams, shampoos, skin gels, serums, and moisturizers to enhance skin hydration and elasticity. In ophthalmology, HA is utilized in ophthalmic viscosurgical devices for corneal transplantation, cataract removal, and treating eye-related disorders. In the medical field, HA is employed in joint disorders, chronic wounds, and diabetic patients as intra-articular treatment and hyaluronic acid-based supplements. During the plastic surgery process, HA is used as a dermal filler to correct allergic reactions and improve facial volume.

Furthermore, HA's anionic properties enable it to attract water and increase tissue volume, making it an ideal choice for targeted drug delivery systems. These systems can deliver a range of medications, including proteins, nucleic acids, and anti-aging agents, by precisely attaching to specific cell surface receptors. In surgeries, HA-based localized drug delivery can reduce infection risks and improve treatment efficacy. The aging process is associated with a decrease in collagen and HA production in the skin, leading to wrinkles and loss of facial volume. In response, the cosmetics industry has embraced HA and its derivatives, using them in skincare products to combat the signs of aging.

Moreover, the pandemic restrictions have led to a rise in non-surgical procedures, further boosting the demand for HA-based products in the personal care and medical industries. Additionally, medical tourism has played a role in the global spread of HA-based treatments, making them accessible to a wider population. In summary, hyaluronic acid's unique properties make it an essential component in various applications, from personal care products to medical devices and surgeries. Its ability to attract water, increase tissue volume, and facilitate targeted drug delivery makes it a valuable asset in addressing aging, joint disorders, eye-related conditions, and more. The ongoing research and development of novel formulations and drugs continue to expand the potential applications of HA, ensuring its continued relevance in the personal care and medical industries.

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The dermatology segment was valued at USD 3.55 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Hyaluronic acid (HA) is a naturally occurring polysaccharide that plays a crucial role in skin hydration, joint lubrication, and tissue health. In various industries, including Orthopedics, Ophthalmology, Dermatology, and Cosmetic Clinics, HA is extensively used for symptom management and anti-aging solutions. In Orthopedics, HA is employed in the form of intra-articular injections for osteoarthritis treatment procedures, such as Hyalgan and single-injection products. In Ophthalmology, HA is used in the production of artificial tears, eye drops, in situ hydrogels, and modified nanoparticles for treating conditions like dry eyes and SARS-CoV2 viral infection-related eye complications. In Dermatology and Therapy, HA serums and creams are popular anti-aging products, providing skin plumping and smoothness and reducing fine lines and wrinkles.

The aging population's increasing prevalence and the growing demand for regenerative medicines have driven the market growth. Technologically advanced drugs and therapies, such as intravitreal injections, tissue engineering, and arthritis treatments, are also under development using HA. Comorbidities like joint inflammation and osteoarthritis, particularly in shoulder osteoarthritis and adhesive capsulitis, are being addressed with HA-based treatments. Overall, the HA raw material market is expected to grow significantly in the coming years due to its wide applications in various industries.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

The need for safe and stable drugs that require minimal monitoring is the key driver of the market. The market holds significant importance in the aesthetic and medical industries due to the increasing demand for safe and stable drugs for various treatments. In non-surgical procedures, hyaluronic acid is extensively used in lotions, creams, shampoos, skin gels, serums, and moisturizers for skin care. In the medical field, it is utilized in ophthalmic viscosurgical devices, corneal transplantation, cataract removal, and treatments for eye-related disorders, joint disorders, chronic wounds, and diabetic patients. During the plastic surgery process, hyaluronic acid is employed as a dermal filler to enhance facial features and improve skin texture. However, potential allergic reactions necessitate careful consideration and monitoring.

In the cosmetics industry, hyaluronic acid-based supplements and skin care products have gained popularity. The personal care industry's shift towards non-animal sources and localized drug delivery systems has further boosted market growth. Intra-articular treatment using hyaluronic acid is a common practice for joint disorders, while novel formulations are being developed for keratoconus, eye syndrome, corneal epithelial injuries, and other medical conditions. The use of hyaluronic acid in medical devices, such as intraocular lenses and surgical implants, is also on the rise. Despite the pandemic restrictions, the demand for hyaluronic acid remains strong due to the increasing number of elective procedures and the growing popularity of medical tourism.

In conclusion, The market is a vital component of the healthcare and personal care industries, offering numerous benefits for a wide range of applications. Its use in various treatments, from aesthetic procedures to medical surgeries, underscores its importance as a versatile and effective ingredient. Rational prescription and monitoring are essential to ensure optimal patient outcomes and minimize potential adverse effects.

Market Trends

Increasing acquisitions and joint ventures is the upcoming trend in the market. The market is experiencing significant growth due to its increasing applications in various industries, particularly in the pharmaceutical sector. This market is witnessing strategic collaborations and partnerships among key players to broaden their product offerings and cater to the escalating demand for hyaluronic acid (HA) in aesthetic procedures, non-surgical treatments, and medical devices. For instance, in January 2022, Alcon Inc. Acquired Ivantis Inc., a developer of the innovative Hydrus micro stent for ophthalmic viscosurgical devices. Similarly, in March 2022, AbbVie Inc. Acquired Syndesi Therapeutics to expand its neuroscience portfolio. These mergers and acquisitions (M&A) enable companies to expand their product lines and geographical reach, as well as boost research and development, thereby fueling the growth of The market.

HA is extensively used in dermal fillers, ophthalmic viscosurgical devices, intra-articular treatment, and cosmetics, among others. Furthermore, the rising prevalence of eye-related disorders, joint disorders, chronic wounds, and diabetic patients, along with the growing popularity of minimally invasive procedures, is driving the demand for HA-based products in various applications. However, potential allergic reactions and pandemic restrictions may pose challenges to the market growth. The personal care industry, including lotions, creams, shampoos, skin gels, serums, and moisturizers, is also a significant consumer of HA. Novel formulations and localized drug delivery systems are expected to offer new opportunities in the market. In summary, The market is poised for strong growth due to its extensive applications in pharmaceuticals, cosmetics, and medical devices, along with the increasing prevalence of various health conditions and the rising trend of non-surgical procedures.

Market Challenge

Fluctuating raw material prices is a key challenge affecting the market growth. The global hyaluronic acid (HA) raw material market is experiencing significant growth due to the increasing demand for HA in aesthetic procedures and non-surgical treatments. HA is used in various forms, including lotions, creams, shampoos, skin gels, serums, moisturizers, ophthalmic viscosurgical devices, and dermal fillers. In the medical field, HA is used in corneal transplantation, cataract removal, and the treatment of eye-related disorders, joint disorders, chronic wounds, and diabetic patients. The production of HA involves the extraction of raw materials such as essential oils, plant extracts, chemicals, syrups, and vitamins. While HA can be extracted from plant-based natural sources like soy and wheat, animal-based sources such as rooster combs are also used.

However, the rising cost of raw material extraction from these sources, coupled with stringent regulations for wastewater treatment and waste biomaterials, poses a challenge to HA manufacturers. Moreover, the growing popularity of HA-based supplements and the increasing number of surgeries, particularly in the personal care industry and medical tourism destinations, put pressure on the industry to procure sufficient raw materials. The pandemic restrictions and the shift towards injection-based elective procedures have further complicated the situation. To meet the increasing demand, there is a need for novel formulations and drugs for localized drug delivery, as well as the development of HA-based medical devices.

Despite these challenges, the market for HA raw materials is expected to continue growing due to the increasing prevalence of allergic reactions to animal-derived products and the shift towards non-animal sources for HA production. Additionally, the use of HA in skincare products and eye surgeries is expected to drive market growth.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AbbVie Inc. - The company offers hyaluronic acid raw material such as BOTOX and JUVEDERM.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Alcon Inc.
• Anika Therapeutics Inc.
• Bausch Health Companies Inc.
• Contipro AS
• Ferring BV
• Galderma SA
• Landec Corp.
• LG Chem Ltd.
• Maruha Nichiro Corp.
• Merz Pharma GmbH and Co KGaA
• Sanofi SA
• SEIKAGAKU CORP.
• Shiseido Co. Ltd.
• Smith and Nephew plc
• Stanford Chemicals Co.
• Zimmer Biomet Holdings Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The Hyaluronic Acid (HA) raw material market is witnessing significant growth in various industries, including Orthopedics, Ophthalmology, Drug Delivery, Dermatology, and Cosmetic Clinics. The demand for HA is high in Orthopedics due to its use in Osteoarthritis treatment procedures, such as Intra-articular HA injections, which provide symptom management for joint inflammation. In Ophthalmology, HA is used in the form of artificial tears and eye drops for treating dry eyes and SARS-CoV2 viral infection-related eye problems. In Dermatology and Therapy, HA is extensively used in anti-aging solutions like anti-aging creams and hyaluronic acid serums. These products help improve skin hydration, plumpness, and smoothness, and reduce the appearance of fine lines and wrinkles.

Moreover, the market for HA in Dermatology and Therapy is expected to grow due to the increasing awareness of anti-aging solutions and the aging population. HA also finds application in Regenerative Medicines, Tissue Engineering, and In-vivo clinical studies. In Drug Delivery, HA is used as an excipient in technologically advanced drugs, while in Cosmetic Clinics, HA is used in the form of In situ hydrogels and Modified nanoparticles for various cosmetic procedures. The market for HA is also expected to grow in the field of Intravitreal injections for treating eye diseases like Age-related Macular Degeneration and Diabetic Retinopathy. Overall, the market is expected to grow significantly due to the increasing demand for HA in various applications and industries.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, APAC, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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