Global Hyaluronic Acid Market to hit $10.90 Bn by 2020: Market Size Forecasters
Zion Market Research has published a new report titled “Hyaluronic Acid (Single Injection, Three Injection, Five-Injection) Market for Osteoarthritis, Adhesive Prevention, Drug Delivery, Dermal Fillers Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, the global hyaluronic acid market was valued at approximately USD 6.50 billion in 2014 and is expected to reach approximately USD 10.90 billion by 2020, growing at a CAGR of around 9% between 2015 and 2020.
Hyaluronic acid is also known as hyaluronan or HA. It is an organic compound which belongs to the division of carbohydrates and additional segment of polysaccharides. HA is manufactured in laboratory by various processes which consist of extraction from rooster combs, in-vitro and bacterial production. It is a nonsulfated glycosaminoglycan which is available in the connective, neural and epithelial tissues of living organisms. Hyaluronic acid performs vital role in multiple functions in the human body such as retaining water in body tissues and transporting nutrients through the body etc.
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Based on products, hyaluronic acid market can be segmented as single injection, three injection and five injection. Hyaluronic acid market was dominated by the three-injection hyaluronic acid product segment, which accounted for 35% share of the total market 2014. Single-injection and three-injection segments are other growing segments of this market owing to the growing preference for short-duration treatments among patients. Additionally, treatment side-effects include inflammation, redness, and itching, and patients prefer to avoid these by choosing for shorter treatment procedures.
Osteoarthritis, adhesive prevention, drug delivery, dermal fillers are the key application market of hyaluronic acid products. Osteoarthritis was the largest application segment of the market due to the presence of large suitable needs and the physical properties of hyaluronic acid which increased patient comfort. Vesicoureteral reflux also one of the important application segments in the global hyaluronic acid market. This can be attributed to increasing complications with kidney, ureters, and bladder.
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North America was the leading regional market for hyaluronic acid in 2014. North America is closely followed by Europe. The Asia Pacific also expected to dominate the global hyaluronic acid market over forecast period. However, with increasing patient awareness levels coupled with aesthetic and anti aging procedures and growing occurrence of target diseases, Asia Pacific is expected to witness lucrative growth during 2015 to 2020. Europe, Latin America and Middle East & Africa are also expected to experience significant growth of hyaluronic acid market in the years to come.
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Some of the major industry participants in hyaluronic acid market includes Alcon, Inc., Allergan, Inc., Anika Therapeutics, Inc., F. Hoffmann-La Roche Ltd., Ferring Pharmaceuticals, Inc., Fidia Farmaceutici SpA, GALDERMA S.A., Hyaltech Ltd., LifeCore Biomedical LLC, Meiji Seika Pharma Co., Ltd., Merz Aesthetics, Inc., Sanofi, Salix Pharmaceuticals, Inc., Seikagaku Corporation, Shanghai Jingfeng Pharmaceutical Co., Ltd., Smith & Nephew plc, TRB CHEMEDICA INTERNATIONAL SA, Zimmer Holdings, Inc.
This report segments the global hyaluronic acid market as follows:
Global Hyaluronic Acid Market: Product Segment Analysis
Global Hyaluronic Acid Market: Application Segment Analysis
- Adhesive Prevention
- Drug Delivery
- Dermal Fillers
Global Hyaluronic Acid Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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