Hyaluronic Acid Market Analysis Prophesied to Grow at a Faster Pace by 2025
Industry Trends
The industry is witnessing the implementation by industry players of newer technology and regional expansion through approvals and mergers and acquisitions. In 2015 OrthogenRx announced GenVisc 850 FDA approval for patients with OA knee pain. It was developed in collaboration with Meiji Seika Pharma Co., Ltd. and TedecMeiji Farma S.A. It has been licensed by Meiji Seika Pharma Group and its partners in 60 countries, under the name ADANT, outside the USA.
The category of osteoarthritis is further categorized into5-injection,3-injection, and single injection. Despite the higher treatment costs relative to its alternatives, single hyaluronic acid injection is well received by the market for hyaluronic acid. Single-injection offers greater convenience and reduces hospital visits, while at the same time reducing pain and adverse effects. Increasing geriatric population and rising cases of obesity are expected to further expand the market for hyaluronic acid over the forecast period.
In March 2018, Bioventus launched a new single-injection joint lubricant, Durolane in U.S for the treatment of osteoarthritis pain in knee. Bioventus is the company in U.S. with one-injection (Durolane), three-injection (Gelsyn-3) and five-injection (Supartz FX) hyaluronic acid option for treating knee osteoarthritis pain.
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According to the American Society of Plastic Surgeons (ASAPS), dermal fillers are the most popular and nonsurgical injectable procedures, especially used for correcting soft tissue defects of the face. Hyaluronic acid-based dermal fillers are commonly used for aesthetic procedures, such as improving nasolabial folds, eye wrinkles, dark circles, scar remediation, and rejuvenation. Hyaluronic acid injections are easy to use, effective, and relatively less expensive, and these associated advantages are expected to drive the market for hyaluronic acid during the forecast period.
Global Hyaluronic Acid Market Market Revenue & Forecast, (US$ Million), 2015 – 2027
Competitive Landscape
Some key industry contributors are: Allergan, Inc.; Galderma; Salix Pharmaceuticals; Lifecore Biomedical; Anika Therapeutics; Sanofi, Shiseido; Smith and Nephew Plc; LG Life Sciences; Maruha Nichiro, Inc.; Ferring Pharmaceutical; and Contipro.
Market players are involved in R&D activities in order to introduce advanced and effective products. For instance, Anika Therapeutics, Inc. launched CINGAL in Europe in 2016. The company intended to make the product available in Germany, Poland, Italy, Czech Republic, and Hungary.
Hyaluronic Acid Market in Healthcare Market:
Application Outlook : Dermal fillers, Osteoarthritis, Single injection, Three injection, Five injection
Ophthalmic, Vesicoureteral reflux
By Geography:
North America: (U.S, Canada, Mexico, Rest of North America)Europe: (France, The UK, Spain, Germany, Italy)
Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast Asia: (Indonesia, Thailand, Singapore)
Rest of Southeast Asia
Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
Latin America: (Brazil, Argentina, Rest of Latina America)
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