Hyaluronic Acid Market

The report "Hyaluronic Acid Market by Application (Osteoarthiritis, Cosmetics, Pharmaceutical API, Ophthalmology), End-Use Industry (Personal Care Industry, Pharmaceutical Industry, Others) and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa - Global Forecast to 2030", is projected to reach USD 2.6 billion by 2030, at a CAGR of 7.9% from USD 1.4 billion in 2022.

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The demand for hyaluronic-based products including moisturizer, dermal fillers, shampoo, and others has increased, which is a driving force behind the hyaluronic acid market. In addition, the prevalence of senior individuals has exacerbated the joint pain issue, particularly in China and Japan. Since hyaluronic acid is used to treat joints, this has boosted the demand for it.

“Based on application, cosmetics is projected to grow at highest CAGR during the forecast period”

Growing urbanization, increasing number of working women, changing lifestyles, and increasing awareness regarding hygiene and skin care are some of the key drivers of the hyaluronic acid market. The awareness of hygiene and personal health has propelled the need for skin care products. This change has led to increased manufacturing of skin care and hair care products, thus driving the demand for hyaluronic acid market

“Personal care industry is projected to be the fastest growing application in hyaluronic acid market, in terms of value”

Growing skin care product sales were a result of the expanding fashion sector, which in turn increased demand for hyaluronic acid, which will be the main driver of the market throughout the projection period. Additionally, since cities expanded quickly, there were more salons, which raised the demand for goods made with hyaluronic acid.

“Asia Pacific is projected to be the fastest growing market for hyaluronic acid during the forecast period, in terms of value and volume.”

During the forecast period, Asia Pacific is projected to grow at highest CAGR, in terms of value. During the forecast period, China and India are anticipated to be the leading investment destinations in the market. This is due to the presence of a growing customer base in sectors including the pharmaceutical, nutraceutical, and cosmetic industries. Major industrial players are also present in the region, particularly in China.

New product launches and expansions are the major growth strategies adopted by the key players in the market. Allergen (US), Sanofi-Aventis (France), Anika Therapeutics Inc. (US), Seikagaku Corporation (Japan), Ferring BV (Switzerland), and Hoffmann-La Roche AG (Switzerland) have undertaken various strategies in the hyaluronic acid market.

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