Medical Grade Hyaluronic Acid Market to Reach 3.26 Bn in 2034

Vantage Market Research releases its latest comprehensive report on the “Global Medical Grade Hyaluronic Acid Market” with a forecast period of 2024-2034. In 2024, the global medical grade hyaluronic acid market size is estimated at USD 1.54 billion in 2024, and projected to reach USD 3.26 billion in 2034, and register a revenue CAGR of 7.6% over the forecast period. 

The report covers current key growth factors, challenges, opportunities, up-to-date trends, technological advancements, R&D, advances in pharmaceuticals, biopharmaceuticals, medical, orthopedics, ophthalmology, cosmetics, aesthetics, dermatology, tissue engineering, and cell therapies, and all related industries and sectors, innovations, and company-related news, revenue, key operating segments, strategies, recent developments, and provides expert insights to understand the various market scenarios and make more informed business decisions. The report covers forms, sources, applications, end-users, and includes all major regions and countries with relevant revenue share, revenue growth rates, consumption patterns and relevant data, and projected domestic and international market scenarios.

Market Overview:

Demand for HA-based skin care and personal care products has been increasing significantly. This can be attributed to high effectiveness of HA in skin care products, and these products proving more effective for treatment of skin conditions such as acne, wrinkles, sun damage, and overall skin health. Also, consumer bases for various therapies, treatments, and products and solutions to address age-related conditions, beauty enhancement, and to improve physical appearance and aesthetics has been driving market growth. Key factors such as global aging population and rising prevalence of age-related diseases and medical and physical conditions and inclining need for addressing such conditions. 

Spending has also increased on personal appearance and beauty, and this is not restricted to particular ages or groups. Also, ease of availability of various treatments and therapies for enhancing beauty and aesthetics, as well as rising awareness regarding new and novel approaches and technologies to address age-related changes and symptoms, correct scarring caused by skin ailments or damage caused by medical conditions, drugs, accidents, trauma, etc., have been driving demand for aesthetic and dermatological treatments. Demand for dermal fillers and wrinkle-reducing injections has been increasing in the recent past, especially in developing countries, and the trend is expected to emerge in developing countries over the forecast period. Moreover, rising prevalence of joint conditions, such as osteoarthritis, has been driving rising demand for HA as a viscosupplement for joint lubrication and pain relief and pain management. 

Technological advancements in production, extraction, and purification, enabling higher HA yield with enhanced safety and efficacy are also supporting growth of the market. Development of more innovative drug delivery systems, such as HA-based nanoparticles, for therapeutic applications beyond traditional uses is also expected to have a significant impact on growth of the market. Favorable healthcare policies and guidelines are supporting adoption of various minimally- and  non-invasive medical procedures, including cosmetic procedures and treatments and therapies for various outcomes. This is resulting in a steady shift towards cosmetic procedures and HA-based treatments in the aesthetics, which are being driven by high visibility and rising awareness regarding the benefits and outcomes. Increase in efficacy of HA in cosmetic products and favorable outcomes of aesthetic enhancement procedures and expansion of skincare, haircare, and personal care product portfolios by manufacturers using HA as a key ingredient due to the versatility and biocompatibility properties are also trends driving market growth.

However, potential side effects of strong over-the-counter (OTC) formulations such as dryness, increased sensitivity to Ultraviolet (UV) rays, inflammation, pain, and itching related to HA-based products can have some negative impact on market growth. Negative reviews and feedback on social media platforms regarding potential adverse effects, or reactions to products or ingredients can also have negative impact. High cost of products and therapies, limited insurance cover in certain economies or regions, regulatory challenges and lengthy approval process for use of medical grade HA in new products and procedures, and market saturation and emergence of alternatives are other key factors having a negative impact on market growth.

Segments:

By Form:

• Injectable
• Topical
• Oral
• Ophthalmic

By Source:

• Animal-based
• Microbial fermentation
• Plant-based

By Application:

• Aesthetic Treatments
• Orthopedics
• Ophthalmology
• Wound Care

By End-User:

• Hospitals and Clinics
• Dermatology and Aesthetics Clinics
• Homecare
• Pharmacies

Some Key Takeaways:

• North America medical grade hyaluronic acid market currently leads among the other regional markets in terms of revenue share contribution to the global market.
• The injectable segment among the form segments accounted for largest revenue share in 2023, and is expected to continue to maintain dominance over the forecast period.
• The microbial fermentation segment accounted for largest revenue share in 2023, and the trend is expected to continue.
• Among the application segments, the aesthetic treatments segment is expected to register fastest revenue growth rate over the forecast period.
• The competitive landscape in the global medical grade Hyaluronic Acid (HA) market is intense, with established pharmaceutical and biotechnology companies competing with some new entrants specializing in specific and customized products and offerings.
• Partnerships and collaborations with research institutions and healthcare sector, as well as with other players in the industry are some strategies observed in the market.

Company List:

• Allergan Aesthetics
• Galderma
• Sanofi
• Anika Therapeutics
• L'ORÉAL
• Merz Pharma
• Nestlé Skin Health
• Lifecore Biomedical
• Stanley Pharmaceuticals
• Contipro
• Laboratoires Vivacy
• Fidia Farmaceutici S.P.A.
• BioScience GmbH
• Hyaltech
• Shiseido

Recent Developments:

• August 27, 2024: Allergan Aesthetics, which is an AbbVie company, announced launch of SkinMedica HA5 Hydra Collagen Replenish + Restore Hydrator. The next-generation hydration product is specifically designed to deliver hydration, visible plumpness, and radiance to facial skin.
• January 22, 2024: Galderma announced receiving approval from Health Canada for Restylane SHAYPE, which is a hyaluronic acid injectable designed for temporary augmentation of the chin region. The product is engineered to build and shape on bone with deep injection for a bone-mimicking effect.
• January 9, 2024: A study published in Experimental Dermatology examined how cross-linked hyaluronic acid (CL-HA) injections could reverse age-related skin changes. This research emphasized the potential role of hyaluronic acid in dermatological treatments aimed at reversing the signs of aging.