Hyaluronic Acid Market Is Likely To Be Influenced By The Increase In Obesity Till 2024: Grand View Research, Inc.
The
global hyaluronic acid market is
expected to reach USD 13.4 billion by 2024, according to a new report by Grand
View Research. Factors such as increasing concern in population regarding
chemicals, desire to get quick and evident results, and shorter recovery time
are high impact-rendering drivers of this market.
The
market is evolving rapidly due to the increasing adoption of aesthetic
procedures in both developed and developing regions. The growing geriatric
population coupled with growing awareness about antiaging products and aspiration
to look healthy and young is fueling the market for all cosmetics. The efficacy
and evident results of hyaluronic acid-based dermal fillers are
attracting this population base.
The
increase in obesity resulting in osteoarthritis and joint pain has boosted the
demand for hyaluronic acid injections as treatment. In 2012, approximately 53
million people were diagnosed with osteoarthritis and it is projected that by
2040, the number will grow to 78 million. This can be anticipated as
exponential growth in demand for hyaluronic acid injections.
Moreover,
mounting number of obese people indicates the growing number of people
suffering from orthopedic disorders. There is no permanent cure for these
disorders and treatment includes use of pain killers. However, hyaluronic acid-based
viscosupplements are seen as a possible cure or at least a better option to
joint pain.
U.S.
Hyaluronic Acid Market By Product, 2014 - 2025 (USD Million)
Browse full research report on hyaluronic
acid market: http://www.grandviewresearch.com/industry-analysis/hyaluronic-acid-market
Further
key findings from the report suggest:
- In 2015, dermal fillers dominated the
application segment due to increasing awareness about the available
aesthetic procedures and approval of effective products by the FDA. For
instance, in 2013, the U.S. FDA approved hyaluronan-based facial fillers
to be used in corrective measures, filling fine lines, and antiaging
procedures. These dermal fillers constitute a large share in these
procedures and witnessed 8% growth in the year 2014. Cosmetic surgeries
market is booming with approximately 14 million minimally invasive
procedures being performed every year.
- Pharmaceutical-grade hyaluronan holds the
largest share in terms of raw material used for products. It is available
in a wide range of molecular weights and manufacturers also provide
customized hyaluronic acid, especially for research purposes.
- In 2015, non-animal based hyaluronan held the
largest share of the source segment. It is extracted from recombinant
bacteria and has uniform molecular weight; therefore, it is preferred for
research purposes. Furthermore, non-animal based hyaluronic acid is
preferred as the raw material for the production of food supplements. It
eliminates the risk of cross-contamination and the varied molecular weight
does not affect the quality of the products.
- In 2015, North America dominated the market
with a revenue share of over 40%. In 2009, the first viscosupplement
Synvisc-One, by Genzyme Corporation, was approved in the U.S. and gained
quick popularity owing to its efficacy and ease of use.
- Increase in understanding of aging processes
coupled with the interest in dermal fillers boosted the demand for
antiaging procedures in this region. Presence of market leaders such as
Genzyme Corporation and Anika Therapeutics in this region also contributes
to fueling customer awareness and acceptance as a result of aggressive
marketing strategies of these companies.
- Asia Pacific is anticipated to emerge as the
fastest growing region during the forecast period. The growing geriatric
population in Japan and China provides a large customer base for antiaging
products and services. Moreover, Asian population is influenced by western
beauty standards and aims for volumized appearance. This has resulted in
14% growth of dermal filler market as compared to the 7% in North America.
- Some key participants of the market are Anika
Therapeutics, Inc.; Seikagaku Corporation; Galderma S.A.; Sanofi
(Genzyme); Salix Pharmaceuticals; Allergan, Inc.; F. Hoffmann-La Roche
Ltd., Zimmer Holdings, Inc.; Ferring Pharmaceuticals, Inc.; and Smith
& Nephew Plc.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-hyaluronic-acid-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
Comments
Post a Comment