Hyaluronic Acid Products Market Progressing at a CAGR of 9.2% within a Forecast Period from 2013 to 2019 prepared by Industry Expert
Hyaluronic acid was discovered in the 1930s, after which it remained classified as a ubiquitous substance produced in our bodies for a long time. Biological fields evolved and slowly started finding out the purposes that hyaluronic acid can fulfil. Currently it finds use in a large number of fields, ranging from being used in cancer tumor markers to skin healing.
The primary driver attributed to the high CAGR of the global hyaluronic acid products market is the high demand for anti-ageing beauty products. Other factors that are boosting this market’s growth rate are the increasing percentage of the geriatric demographic, the rapidly climbing demand for surgical procedures that are minimally invasive, and a steadily growing awareness among consumers of the negative qualities of other chemicals and their side-effects. The report divides the global hyaluronic acid products market on the basis of products, applications, and geography.
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In terms of products, the global hyaluronic acid products market is divided into five-injection cycle, single-injection cycle, and three-injection cycle. The report predicts three-injection and single-injection cycles will show the fastest rate of growth from 2013 to 2019. This conclusion is attributed to several statistical analyses, along with the key observation that patients are increasingly preferring treatments that last for shorter durations. Shorter duration treatments of hyaluronic acid products reduce the overall cost incurred, while also reducing the time a patient has to suffer from its side-effects such as itchy skin, inflammation, and redness.
In terms of applications, the global hyaluronic acid products market is divided in osteoarthritis, dermal fillers, vesicoureteral reflux, and ophthalmic surgery. The market was led by dermal fillers in 2012, while the future of the market will be largely influenced by a growing scope of use of hyaluronic acid products in vesicoureteral reflux treatment. This segment is expanding at a CAGR of 12% within the report’s given forecast period. Key factors responsible for this segment’s surge are the increasing demand for non-invasive treatments, the growing number of the elderly, and a growing demand for beauty enhancement solutions.
Regionally, the report speaks of the four major regions of North America, Europe, Asia Pacific, and the Rest of the World. North America led this market in 2012, owing to a higher rate of awareness and a greater access and ability to opt for premium hyaluronic acid products. Europe was the second-largest region at the time. Rapid economic development and a higher market penetration of beauty products are expected to increase the growth rate of the global hyaluronic acid products market in Asia Pacific and the Rest of the World.
The key players in the global hyaluronic acid products market are Ferring Pharmaceuticals, Inc., Merz Aesthetics, Inc., F. Hoffmann-La Roche Ltd., Smith & Nephew plc., Seikagaku Corporation, Allegran Inc., Zimmer Holdings, Inc., and Alcon, Inc.
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