The global hyaluronic acid raw material market size reached US$ 6.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.42% during 2023-2028.
Hyaluronic acid raw materials are the substances used for the manufacturing of the natural compound. The acid is naturally present in the eyes, hair, joints, nerves, cartilages and extracellular matrix in the skin. It can also be synthesized by fermenting wheat peptones, sugar and certain bacteria. These ingredients aid in supporting the functioning of the connective tissues and promoting collagen binding by building up the proteins and regulating water concentration in the skin. The topical application of the acid can assist in the regeneration of the skin and reduce inflammation. As a result, it finds extensive applications in the manufacturing of cosmetics, drug delivery systems, pharmaceuticals and nutritional supplements.
Hyaluronic Acid Raw Material Market Trends:
Significant growth in the pharmaceutical industry across the globe is of the key factors creating a positive outlook for the market. Hyaluronic acid acts as a viscoelastic and anti-surgical adhesion agent, which is widely used in ophthalmic, dermatological and orthopedic procedures as a mechanical barrier for tissue adherence. Moreover, the increasing demand for anti-wrinkle and anti-aging creams and solutions among the masses for cosmetic enhancements is providing a thrust to the market growth. Additionally, various technological advancements, such as the development of innovative solutions for targeted drug delivery and regenerative medicines, are acting as other growth-inducing factors. Healthcare providers are extensively using hyaluronic acid injections to provide lubrication, reduce inflammation and promote cartilage and bone growth in the joint. Other factors, including rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hyaluronic acid raw material market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
- Cataract Surgery
- Aqueous Eye Drop
- Contact Lens
- Bone Regeneration
- Dermal Filler
- Wound Healing
- Drug Delivery
- Medical Device Coating
- Surgical Adhesion Prevention
- Biomaterials and Implants
- Cell and Tissue Preservation
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AbbVie Inc., Anika Therapeutics Inc., Contipro a.s., Galderma S.A., LG Chem Ltd., Lifecore Biomedical LLC (Landec Corporation), Sanofi S.A., Seikagaku Corporation, Smith & Nephew plc and Zimmer Biomet.
|Base Year of the Analysis
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AbbVie Inc., Anika Therapeutics Inc., Contipro a.s., Galderma S.A., LG Chem Ltd., Lifecore Biomedical LLC (Landec Corporation), Sanofi S.A., Seikagaku Corporation, Smith & Nephew plc and Zimmer Biomet
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Key Questions Answered in This Report:
- How has the global hyaluronic acid raw material market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global hyaluronic acid raw material market?
- What are the key regional markets?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global hyaluronic acid raw material market and who are the key players?
- What is the degree of competition in the industry?