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:
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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