Increasing Global Geriatric Population to Drive Hyaluronic Acid Product Market
The global hyaluronic acid
products market was recorded at US$5.32 bn in 2012. Owing to a few high-impact
drivers, this market is expected to reach US$9.85 bn by the end of 2019,
progressing at a CAGR of 9.2% within a forecast period from 2013 to 2019. The
statistical and factual data is presented in a research report published by
leading market intelligence agency, Transparency Market Research. The report,
“Hyaluronic Acid Products Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 - 2019,” provides concise details on the why
this market is behaving the way it is, and how it can be expected to fare in
the near future.
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Hyaluronic acid was discovered in
the 1930s, after which it remained classified as a ubiquitous substance
produced in our bodies for a long time. Biological fields evolved and slowly
started finding out the purposes that hyaluronic acid can fulfil. Currently it
finds use in a large number of fields, ranging from being used in cancer tumor
markers to skin healing.
The primary driver attributed to
the high CAGR of the global hyaluronic acid products market is the high demand
for anti-ageing beauty products. Other factors that are boosting this market’s
growth rate are the increasing percentage of the geriatric demographic, the
rapidly climbing demand for surgical procedures that are minimally invasive,
and a steadily growing awareness among consumers of the negative qualities of
other chemicals and their side-effects. The report divides the global
hyaluronic acid products market on the basis of products, applications, and
geography.
In terms of products, the global hyaluronic
acid products market is divided into five-injection cycle, single-injection
cycle, and three-injection cycle. The report predicts three-injection and
single-injection cycles will show the fastest rate of growth from 2013 to 2019.
This conclusion is attributed to several statistical analyses, along with the
key observation that patients are increasingly preferring treatments that last
for shorter durations. Shorter duration treatments of hyaluronic acid products
reduce the overall cost incurred, while also reducing the time a patient has to
suffer from its side-effects such as itchy skin, inflammation, and redness.
In terms of applications, the
global hyaluronic acid products market is divided in osteoarthritis, dermal
fillers, vesicoureteral reflux, and ophthalmic surgery. The market was led by
dermal fillers in 2012, while the future of the market will be largely
influenced by a growing scope of use of hyaluronic acid products in
vesicoureteral reflux treatment. This segment is expanding at a CAGR of 12%
within the report’s given forecast period. Key factors responsible for this
segment’s surge are the increasing demand for non-invasive treatments, the
growing number of the elderly, and a growing demand for beauty enhancement
solutions.
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Regionally,
the report speaks of the four major regions of North America, Europe, Asia
Pacific, and the Rest of the World. North America led this market in 2012,
owing to a higher rate of awareness and a greater access and ability to opt for
premium hyaluronic acid products. Europe was the second-largest region at the
time. Rapid economic development and a higher market penetration of beauty
products are expected to increase the growth rate of the global hyaluronic acid
products market in Asia Pacific and the Rest of the World.
The
key players in the global hyaluronic acid products market are Ferring
Pharmaceuticals, Inc., Merz Aesthetics, Inc., F. Hoffmann-La Roche Ltd., Smith
& Nephew plc., Seikagaku Corporation, Allegran Inc., Zimmer Holdings, Inc.,
and Alcon, Inc.
Key
segments of the Global Hyaluronic Acid Products Market
Key
segments of the global market for hyaluronic acid products by products
·
Single-injection
Cycle
·
Three-injection
Cycle
·
Five-injection
Cycle
Key
segments of the global market for hyaluronic acid products by application
·
Osteoarthritis
·
Ophthalmic
Surgery
·
Dermal
Fillers
·
Vesicoureteral
Reflux (VUR)
Major
geographies analyzed under this research report are:
·
Europe
·
North
America
·
Asia-Pacific
·
Rest
of the World
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