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Hyaluronic Acid Raw Material Market

Hyaluronic Acid Raw Material Market Size, Share, Forecast Analysis, By Application (Ophthalmology, Orthopedics, Dermatology, Drug Delivery, Medical Device Coating, Surgical Adhesion Prevention, Biomaterial Implants), & By Region - Global Market Insights 2022 to 2032

Hyaluronic Acid Raw Material Market Outlook (2022-2032)

The Hyaluronic Acid Raw Material market was valued at around US$ 6 Billion in 2021. With a projected CAGR of 5.2% for the next ten years, the market is likely to reach a valuation of nearly US$ 10.5 Billion by the end of 2032. The recent surge in demand for hyaluronic acid has triggered the demand for hyaluronic acid raw materials.

Report Attributes

Details

Hyaluronic Acid Raw Material Market Size (2021A)

US$ 6 Billion 

 Market Size (2022E)

US$ 6.4 Bn

 Market Value (2032F)

US$ 10.5 Billion 

lMarket Growth Rate (2022-2032)

5.2% CAGR

North America Market Share (2021)

~41%

North America Market Growth Rate (2022 – 2032)

5.2% CAGR

Share of Top 5 Countries

55.5%

Key Companies Profiled

  • Royal DSM
  • Lifecore Biomedical
  • HTL Biotechnology
  • Shiseido
  • Bloomage Freda Biopharm Co. Ltd.
  • LG Life Sciences
  • Maruha Nichiro, Inc.
  • Contipro

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Sales Analysis of Hyaluronic Acid Raw Material from 2015 to 2021 Vs Market Outlook for 2022 to 2032

The global hyaluronic acid raw materials market expanded at a CAGR of 5.7% over the last five years (2015-2021). The market growth is projected to saturate with the projected drop in their prices coupled with mass level manufacturing resulting in benefits of economies of scale.

The global hyaluronic acid raw material market is predicted to surge ahead at a CAGR of 5.2% and record sales worth US$ 10.5 Bn by the end of 2032. US will continue to be the largest hyaluronic acid raw material market throughout the analysis period accounting for over US$ 1.3 Bn absolute dollar opportunity in the coming 10-year epoch.

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How has the Increasing Use of Hyaluronic Acid in Arthritis and Related Treatments Impacted the Hyaluronic Acid Raw Material Market?

Among applications of Hyaluronic Acid Raw materials, revenue through the orthopedics segment is expected to grow at a CAGR of 4.9% during 2022 – 2032. Revenue through this application is mainly driven by the increasing adoption of technologically advanced drugs, and the widespread use of hyaluronic acid in osteoarthritis treatment procedures, thereby increasing the number of approved therapeutic products, thus supporting the hyaluronic acid raw material market expansion.

According to the Arthritis Foundation, arthritis was a leading cause of disability in the United States in 2019, with approximately 91 Mn people suffering from this ailment. This leads to the high acceptance of hyaluronic acid raw materials in the country. In addition, with the increasing number of hyaluronic acid procedures in the US, the demand for this material for arthritis diagnosis is at an all-time high, which drives the hyaluronic acid raw materials market.

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How is Hyaluronic Acid Raw Material Demand Expected to Perform with their Growing Necessity in Cosmetic Surgery Treatments?

With an increase in the number of chronic wound cases in diabetic patients and the rising demand for plastic surgery procedures which require hyaluronic acid-based agents, dermatology held the second-highest revenue share in 2015. According to the American Society of Plastic Surgeons (ASPS), more than 2.7 Mn dermal filler treatments were implemented in the United States in 2019. In plastic surgery, hyaluronic acid is also used as a lip filler. According to the reports of the International Society of Plastic Surgery (ISPAS), nearly 1.5 Mn individuals aged 51-64 years underwent botulinum toxin procedures worldwide in the year 2019.

The growing female populace between 35-65 years globally makes up for a high demand for anti-aging treatments. Owing to its unique viscoelastic and moisturizing properties, hyaluronic acid demand in dermal fillers is projected to grow in the forthcoming years. Besides, it is also being widely used in facial line correction procedures including fine line correction around the mouth and eyes, marionette lines, pre-jowl sulcus, cheek augmentation, and nasolabial folds.

The FDA has approved several hyaluronic acid-based dermal fillers for wrinkle and fine line correction procedures including RHA Redensity. Non-requirement of skin testing, minimal risk for allergic reactions from hyaluronic acid-based dermal fillers are among the key factors contributing to the growth of the hyaluronic acid raw material market. Besides, the FDA has also approved the use of hyaluronic acid in certain eye surgeries such as cataract removal, corneal transplants, and repair of retinal detachments and other eye injuries.

Category-wise Insights

Why does Asia-Pacific Stand as the Most Lucrative Hyaluronic Acid Raw Material Market?

In 2015, the hyaluronic acid raw material market in Asia Pacific is expected to witness a CAGR of nearly 4% during 2022 - 2032. The rise in consumption of cosmetics, pharmaceuticals, and nutraceuticals from middle-income consumer groups has led to an upsurge in the demand for hyaluronic acid and its raw materials. The low cost of hyaluronic acid produced in China also offers a significant advantage to the hyaluronic acid raw material market growth in Asia Pacific as it encourages the applications that use them.

How is the Hyaluronic Acid Raw Material Market in North America Shaping Up?

North America is at the forefront of hyaluronic acid and its raw material demand. The introduction of advanced technology established healthcare infrastructure, and increased patient awareness of the availability of aesthetic and anti-ageing procedures are driving market growth in the region. In addition, the growing demand for minimally invasive cosmetological treatments is also driving hyaluronic acid raw material market growth. According to the American Society of Plastic Surgeons, an estimated 16 Mn minimally invasive cosmetic surgeries were performed in the United States in 2018.

Country-wise Insights

US Hyaluronic Acid Raw Material Market Analysis

Hyaluronic acid raw materials market in the U.S., is estimated to grow at a CAGR of 4.7% and an absolute dollar opportunity of US$ 1.3 Bn in the coming 10-year period. According to the International Society of Aesthetic Plastic Surgery, of the 23 Mn cosmetic procedures done in 2018, almost 3.8 Mn were Hyaluronic Acid based non-surgical procedures.

The US was among the top countries that recorded a majority of aesthetic treatments in the year 2018. Cosmetic surgery-based medical tourism plays a crucial role here with helping the products and procedures consumption that is anticipated to push the hyaluronic acid raw material market onwards till 2032.

During 2018 alone, Americans spent approximately US$ 17.4 Bn on non-surgical procedures, of which US$ 11.5 Bn went on injectable hyaluronic acid, while US$ 2.83 Bn was spent on facial rejuvenation procedures.

UK Hyaluronic Acid Raw Material Market Analysis

The hyaluronic acid raw materialsmarket in the UK is projected to reach a valuation of US$ 454.5 Mn by 2032. The market during 2022 – 2032 is projected to grow with an absolute dollar opportunity of US$ 151 Mn, with a projected CAGR of 4.1%. The surge in healthcare expenditure in the UK has been the key factor driving the demand for hyaluronic acid raw materials in the country.

Japan Hyaluronic Acid Raw Material Market Analysis

The Japanese hyaluronic acid raw materialsmarket is projected to reach a valuation of 596 Mn by 2032. The market in the country is expected to witness an absolute dollar opportunity of US$ 178 Mn. The market is projected to grow at a CAGR of 3.6% during the forecast period.

South Korea Hyaluronic Acid Raw Material Market Analysis

The market in South Korea is likely to reach a valuation of 360 Mn by 2032 at a CAGR of 3.3%. The market is projected to register an absolute dollar opportunity of US$ 100 Mn between 2022 and 2032.

What was the Impact of COVID-19 on Hyaluronic Acid Demand?

The hyaluronic acid raw materials industry has grown rapidly in recent years, however, 2020 proved to be a difficult year due to the emergence of the COVID-19 pandemic. Demand for hyaluronic acid weakened throughout 2020 as blockade restrictions significantly reduced dermal filler procedures globally.

Furthermore, even in the later stages of the pandemic, patients opted against or postponed procedures to avoid the risk of infection, thus negatively impacting the market and resulting in a drop in market revenue. The use of hyaluronic acid-based supplements also declined dramatically during the pandemic. For instance, Anika Therapeutics, garnered revenue of US$ 34.3 Mn, in the first quarter of 2021 as compared to US$ 35.4 Mn in the first quarter of 2020.

The players in different application segments have been launching new products to maintain their position in these difficult times. For instance, Bausch Health's ClearVisc Ophthalmic Viscosurgical Device (OVD) is the latest approved hyaluronic acid-based viscosupplement for ophthalmic use.

Deregulation and reopening of industrial operations and beauty clinics in globally potentially provided significant growth opportunities for the global hyaluronic acid raw material market after 2021 due to its increasing need for hyaluronic acid.

Competitive Analysis

Royal DSM, Lifecore Biomedical, HTL Biotechnology, Shiseido, Bloomage Freda Biopharm Co. Ltd., LG Life Sciences, Maruha Nichiro, Inc., Contipro, Bio-Technology General, Teoxane Laboratories, QufuLiyangBiochem Industrial Co. Ltd., Cellbone Technology, Stanford Chemicals, and Vesta Ingredients, Inc. are among the key players worldwide driving the competitive landscape of the market. To expand their product portfolio and simultaneously capitalize on the growing market demand, many of these companies are adopting strategies such as mergers, acquisitions, and partnerships.

Recent Developments :

  • In April 2021, HTL Biotechnology Company and Echelon Biosciences Inc., a US-based global supplier, specializing in the supply of biochemical reagents, assays, and services to Rand D laboratories, announced their partnership in the distribution and product development. This is anticipated to enable the distribution of high-quality hyaluronic acid (HA) and glycosaminoglycan (GAG), and increase the development of GAG products.
  • In March 2021, Royal DSM, a global science-based company working in the areas of nutrition, health, and sustainable living, launched three different forms of Hyaluronic Acid. These are HYAACT M which helps to improve skin hydration and strengthens the protective barrier, HYAACT S which locks in moisture for a moisture boost, filling even reddened skin and soothes them and, HYAACT XS which supplies a continuous boost of intense moisture hence plumping up fine lines.
  • In October 2018, Bausch Health Companies Inc. and its dermatology business, Ortho Dermatologics, launched ALTRENO Lotion in the US. This lotion has proved to be effective and well-accepted with its formulation of hyaluronic acid, glycerin, collagen, and known moisturizers.

Key Segments Covered in Hyaluronic Acid Raw Material Industry Research

 

  • By Application :

    • Ophthalmology
      • Cataract surgery
      • Aqueous eye drop
      • Contact lens
    • Orthopedics
      • Visco supplements
      • Bone regeneration
    • Dermatology
      • Intradermal
      • Dermal filler
      • Wound healing
    • Drug Delivery
    • Medical Device Coating
    • Surgical Adhesion Prevention
    • Biomaterials and Implants
    • Cell and Tissue Prevention
  • By Region :

    • North America
    • Asia Pacific
    • Europe
    • The Middle East and Africa (MEA)
    • Latin America

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The hyaluronic acid raw material industry is set to witness a growth rate of 5.2% over the forecast period and be valued at US$ 10.5 Bn by 2032.

The market in the US is expected to reach a valuation of US$ 3.7 Bn during the forecast period along with a CAGR of 4.7%.

Royal DSM, Lifecore Biomedical, HTL Biotechnology, Shiseido, Bloomage Freda Biopharm Co. Ltd. are some of the key players shaping the Hyaluronic Raw Material industry.

The preference for non-invasive cosmetic procedures is consistently increasing and is anticipated to favorably impact the global demand for hyaluronic acid over the forecast period till 2032.

The Asia Pacific market is expected to grow significantly during the forecast period mainly due to increasing awareness of minimally invasive healthcare procedures, especially in India and China.

The Hyaluronic acid raw material market was valued at US$ 6 Bn in 2021.

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