Market Insights
This report on the hyaluronic acid products market studies various product types and applications. Hyaluronic acid products add value to cell permeability and proliferation and are considered a vital constituent of the extracellular matrix. Hyaluronic acid products have many applications, such as orthopedic surgery, rheumatology, ophthalmology, otolaryngology, dermatology, plastic surgery, wound healing, and drug delivery. On a similar note, it is also available in various dosage forms according to its applications, e.g., in osteoarthritis treatment, HA injections are available to inject it in the synovial cavity.
The market for hyaluronic acid products is anticipated to experience tremendous growth worldwide, mainly due to factors such as the aging population, increasing patient awareness related to hyaluronic acid products, obesity leading to orthopedic diseases, and the high demand for minimally invasive procedures.
For this study, the global hyaluronic acid products market is segmented based on product type into three categories: single injection, three-cycle injection, and five-cycle injection. Market size estimates and forecasts for these segments for 2013–2022 are provided in terms of USD million, along with the respective compounded annual growth rates (CAGRs) for 2016–2022, considering 2015 as the base year.
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Based on application type, the global hyaluronic acid products market is segmented as vesicoureteral reflux, dermal fillers, ophthalmic, and osteoarthritis. Market size estimates and forecasts for these segments for 2013–2022 are provided in terms of USD million, along with the respective compounded annual growth rates (CAGRs) for 2016–2022, considering 2015 as the base year.
The hyaluronic acid products market has been geographically categorized into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each geography market is further split to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, Brazil, and the GCC countries. The market size and forecast for these segments during 2013–2022 and their CAGRs for the period 2016–2022 are provided in this report.
The major key players profiled in the hyaluronic acid products market are based on various characteristics such as business description, financial health, budget allocation, product portfolio, and news coverage. The key players profiled in this report are Anika Therapeutics, Inc., Allergan, Inc., Sanofi S.A., Ferring B.V., Seikagaku Corporation, Salix Pharmaceutical, Fidia Farmaceutici, and Zimmer Biomet.
Based on the type of product, the global hyaluronic acid products market is segmented as follows:
- Single Injection
- Three-Injection Cycle
- Five-Injection Cycle
Hyaluronic acid products, also known as hyaluronan or HA, are organic compounds that belong to the branch of carbohydrates and further to its polysaccharides segment. HA is prepared in the laboratory by various processes, which include extraction from rooster combs, in-vitro production, and bacterial production. It is a non-sulfated glycosaminoglycan in the connective, neural, and epithelial tissues of living organisms. Owing to its hydrophilic nature, hyaluronic acid products are used as lubricants and shock absorbers in various joint disorders, including osteoarthritis. Based on product type, the global hyaluronic acid products market can be segmented into three categories: single injection, three injections, and five injections. The five-injection regimen held the largest share of the global hyaluronic acid products market. However, the single injection regimen is expected to grow at a faster rate as compared to the other regimens due to shifting patient preferences towards the shorter regimen over the longer regimen owing to the lower risk of side effects.
Based on the type of application, the hyaluronic acid products market is segmented into:
- Osteoarthritis
- Ophthalmic
- Dermal Fillers
- Vesicoureteral Reflux
Hyaluronic acid products form naturally throughout the human body. Several trials have been conducted to explore the beneficial properties of hyaluronic acid products in orthopedics, aesthetics, ophthalmology, and others. Hyaluronic acid products can be modified into different forms, such as viscoelastic solutions, non-woven meshes, electrospun fibers, soft and stiff hydrogels, flexible sheets, non-particulate fluids, and fibrillar sponges. The unique viscoelastic properties of hyaluronic acid products and their non-immunogenicity and biocompatibility have led to their adoption in several clinical applications, such as eye surgery, supplementation of joint fluid, healing of surgical wounds, and cosmetic procedures.
In 2013, the World Health Organization (WHO) estimated that 9.8% of the world’s population over 60 suffers from osteoarthritis; 80% of people with osteoarthritis experience limitation of movement; and 24.7% cannot perform daily activities. Thus, with rising incidences of osteoarthritis, a common disorder observed in the elderly and middle-aged population due to obesity and changing lifestyles, the demand for these products in osteoarthritis applications is expected to grow at a CAGR of 9.0% during the study period. Rising obesity in geriatric patients is the major reason for peaking osteoarthritis prevalence. In 2014, according to the WHO, of the worldwide population suffering from osteoarthritis, around 30% to 35% of the patients suffered from knee osteoarthritis. Hence, the market potential for hyaluronic acid products specific to osteoarthritis applications has been significant throughout the forecast period.
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For this study, the global hyaluronic acid products market is categorized into:
- North America
- Europe
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
In 2015, North America was the leading geographical region in the hyaluronic acid products market due to rising application and demand for dermal filler and intra-articular injections in osteoarthritis, which are the key factors assisting the growth of the hyaluronic acid products market.
Since the last decade, efforts of industry players and modern technology have helped expand hyaluronic acid products’ application areas (such as osteoarthritis, dermal fillers, ophthalmic surgery, and vesicoureteral reflux) and safety. Premium-priced single-injection products and injections used in vesicoureteral reflux (VUR) have been introduced in North American and European markets, while Asia-Pacific and RoW remain untapped.
However, the hyaluronic acid products have successfully recovered and increased the acceptance in patients for fillers, which were earlier decreased due to serious side effects observed in Botox. Asia-Pacific and Latin America were observed to be the emerging and most attractive markets for hyaluronic acid products. Asia-Pacific is estimated to be the fastest-growing market, driven by economic development, rising demand for cosmetic surgeries, developing plastic surgery facilities, and high demand for minimally invasive surgeries. Thus, due to all the factors mentioned above, Asia-Pacific is expected to grow at the highest CAGR of 9.4% during the forecast period of 2016 to 2022.
