The Global Hyaluronic Acid Market is projected to grow at a CAGR of 8% in the forecast period of 2021-26, reveals MarkNtel Advisors in their recent research report. The market is driven primarily by the rapidly growing aging population and the introduction of advanced products to address numerous medical & cosmetic requirements. In addition, with the increasing adoption of non-surgical cosmetic procedures like the hyaluronic acid injection for reducing fine lines & wrinkles, retaining moisture in the skin, etc., the demand for these acids is rising substantially and contributing to the global market growth.
Besides, the active participation of leading players & an increasing number of research & development activities to bring new products & expand the applications of Hyaluronic acid shall further boost the market in the coming years. Moreover, benefits like faster wound healing, relief from joint pain, preservation of bone strength, etc., are other crucial aspects propelling the demand for hyaluronic acid & driving the global market during the forecast period, further states the research report, “Global Hyaluronic Acid Market Analysis, 2021.”
Key questions answered in the study
Growing Osteoarthritis Cases to Drive the Global Hyaluronic Acid Market during 2021-26
Based on the Application, the Osteoarthritis application dominated the Global Hyaluronic Acid Market with the largest share during the forecast period. It owes principally to the increasing cases of knee Osteoarthritis, soaring the demand for its treatment through viscosupplementation, where healthcare providers inject the hyaluronic acid in the joints to reduce pain. This treatment, approved by the US Food & Drug Association (FDA), is gaining immense momentum as a prominent cure for osteoarthritis.
The treatment can be categorized based on the dose, i.e., single & multi. Besides, since osteoarthritis is the most common orthopedic disorder & a prominent cause for disability among the elderly population, the demand for its treatment with hyaluronic acid is rising substantially & driving the global market.
Soaring Aging Population to Drive the Market across Asia-Pacific through 2026
Geographically, Asia-Pacific is anticipated to display the fastest market growth during the forecast period. It owes to the rising medical requirements entwined with the swiftly mounting awareness & adoption of minimally invasive techniques for Hyaluronic Acid in different applications like treating Osteoarthritis and various pharmaceutical ingredients, among others, especially across China & South Korea.
Besides, the rapidly increasing number of aged people in Asia-Pacific is the prime aspect for such a giant consumer base using anti-aging products containing hyaluronic acid, which, in turn, is driving the regional market, reveals MarkNtel Advisors in their research report, "Global Hyaluronic Acid Market Analysis, 2021."
Leading Companies in the Market
According to MarkNtel Advisors, the leading players in the Global Hyaluronic Acid Market are Allergan Plc., Anika Therapeutics Inc., Sanofi, Fidia Farmaceutici, Seikagaku Corporation, Ferring Pharmaceuticals, Contipro Corporation, & Kewpie Corporation.