Increasing Use of Hyaluronic Acid Raw Materials as Anti-Surgical Adhesion and Viscoelastic Agents Driving Market Growth Prospects.
ROCKVILLE, Md., Aug. 5, 2024 /PRNewswire/ — The global Hyaluronic Acid Raw Material Market has been valued at US$ 7.05 billion in 2024, as stated in the recently updated industry analysis by Fact.MR, a market research and competitive intelligence provider. The market has been calculated to increase at a CAGR of 5.2% from 2024 to 2034.
The expansion of the pharmaceutical industry is set to generate remunerative opportunities for suppliers of raw hyaluronic acid materials. These are used as a mechanical barrier in dermatological, orthopedic, and ophthalmic procedures.
Several technological advancements, including the development of innovative solutions for regenerative medicines, targeted drug delivery, etc., are contributing to the growing demand for hyaluronic acid raw materials. Topical application of hyaluronic acid raw materials helps in reducing inflammation and regenerating skin. As such, there has been an increase in the consumption of hyaluronic acid raw materials in the production of cosmetics, pharmaceuticals, and nutritional supplements.
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Key Takeaway from Hyaluronic Acid Raw Material Market Study:
The market for hyaluronic acid raw materials is analyzed to reach US$ 11.7 billion by 2034.
Worldwide demand for hyaluronic acid raw materials for use in ophthalmology is forecasted to increase at a CAGR of 5.7% and reach a market worth of US$ 2.68 billion by the end of 2034.
Sales of hyaluronic acid raw materials in South Korea are projected to rise at a CAGR of 8% from 2024 to 2034.
Demand for hyaluronic acid raw materials in the United States is approximated to accelerate at 3.3% CAGR and reach a value of US$ 1.5 billion by the end of 2034.
East Asia is evaluated to account for 24.6% share of the global market by 2034.
“Growing demand for anti-aging and anti-wrinkle creams and solutions for cosmetic enhancements contributing to the rising sales of hyaluronic acid raw materials,” says a Fact.MR analyst.
Growing Demand for Pharmaceutical-grade Hyaluronic Acid Raw Materials Due to Their Therapeutic Potential
There has been an increase in the demand for pharmaceutical-grade hyaluronic acid raw materials for their special qualities such as lubricating joints, cushioning, etc. Several companies in the pharmaceutical sector are involved in developing medical devices, drugs, and novel formulations using hyaluronic acid raw materials. Increasing awareness related to the therapeutic potential of pharmaceutical-grade hyaluronic acid raw materials is driving their demand.
Leading Players Driving Innovation in the Hyaluronic Acid Raw Material Market:
Some of the leading manufacturers of hyaluronic acid raw materials are AbbVie Inc., Royal DSM, Sanofi, Contipro, Lifecore Biomedical, Zimmer Biomet, HTL Biotechnology, Anika Therapeutics, Inc., Shiseido, Maruha Nichiro, Inc., Ferring B.V., and LG Life Sciences.
Competitive Environment:
Leading companies in the hyaluronic acid raw material market are emphasizing supply chain management and providing high-quality products. The creation of new products, joint ventures, acquisitions, and other strategies give market participants a competitive advantage.
With its headquarters in the US, Echelon Biosciences Inc. is a worldwide supplier that specializes in providing biochemical reagents, services, and assays to Rand D laboratories. In April 2021, the company and HTL Biotechnology Company partnered on product development and distribution. This will guarantee the supply of hyaluronic (HA) and glycosaminoglycan (GAG) of the highest caliber and promote the development of new GAG products.
Hyaluronic Acid Raw Material Market Industry News:
With its headquarters in the US, Echelon Biosciences Inc. is a worldwide supplier that specializes in providing biochemical reagents, services, and assays to Rand D laboratories. In April 2021, the company and HTL Biotechnology Company partnered on product development and distribution. This will guarantee the supply of hyaluronic (HA) and glycosaminoglycan (GAG) of the highest caliber and promote the development of new GAG products.
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Source:
Non-animal
Animal
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Grade
Pharmaceutical
Cosmetic
Orthopedic
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application
Ophthalmology
Orthopedics
Dermatology
Drug Delivery
Medical Adhesion Prevention
Biomaterials & Implants
Cell & Tissue Prevention
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The Hyaluronic Acid Raw Material Market is experiencing several notable trends:
Growing Demand for Anti-Aging Solutions: There’s an increasing demand for anti-aging products, such as creams and serums, which utilize hyaluronic acid for its hydrating and skin-rejuvenating properties.
Rise in Minimally Invasive Aesthetic Treatments: More people are opting for minimally invasive procedures like dermal fillers, which often contain hyaluronic acid. This trend is driven by the desire for cosmetic enhancements with minimal downtime.
Technological Advancements: The market is seeing the introduction of advanced products and treatments. For example, single-injection products for osteoarthritis treatment are becoming more common.
Increasing Prevalence of Osteoarthritis: The rising number of osteoarthritis cases, particularly among the aging population, is boosting the demand for hyaluronic acid injections used to manage joint pain and inflammation.
Expanding Cosmetic Industry: The cosmetic industry’s growth, especially in regions like Asia-Pacific, is contributing significantly to the market. The adoption of hyaluronic acid in various cosmetic products is on the rise.
Regulatory Approvals and Product Launches: There has been a surge in regulatory approvals and new product launches, which is helping to drive market growth.
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the hyaluronic acid raw material market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on source (non-animal, animal), grade (pharmaceutical, cosmetic, orthopedic), and application (ophthalmology [cataract surgery, aqueous eye drops, contact lenses], orthopedics [visco supplements, bone regeneration], dermatology [intradermal, dermal fillers, wound healing], drug delivery, medical adhesion prevention, biomaterials & implants, cell & tissue prevention), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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