Hyaluronic acid, also called hyaluronan, is an unsulfated anionic glycosaminoglycan, widely distributed in connective, epithelial and neuronal tissues. It is unique among glycosaminoglycans in that it is not sulfated; it is formed in the plasma membrane instead of the Golgi apparatus and can be very large, its molecular weight often reaching millions. One of the main components of the extracellular matrix, hyaluronan, contributes significantly to cell proliferation and migration and may also be involved in the progression of certain malignancies.
In the year 2018, Global Hyaluronic Acid Products market was valued at USD 8.49 Billion. By the year 2023, it is expected to reach USD 12.94 Billion with a 8.8% CAGR.
Drivers and Restraints:
Growing demand for cosmetic and anti-aging products, the hyaluronic acid market is growing rapidly. Increased awareness of cosmetic surgeries and increased physical awareness of individuals are key growth drivers for the global market for hyaluronic acid products. In addition, the growing cases of obesity have increased the demand for painkillers to treat joint pain, which in turn is a vital growth factor for the market. There is also a growing need for less invasive anti-aging and therapeutic procedures, as the aging segment of the population shows no signs of slowing down. Reactions to foreign bodies can occur in some cases when hyaluronic acid products are used in cosmetic surgery, which is one of the main factors hindering the market.
Based on geography the Global Hyaluronic Acid Products Market primarily segmented into Europe, North America, Latin America, Middle East & Africa and North America. North America holds the major market share owing primarily to the presence of key manufacturers. The Western European market is also on the rise, trailing the North America market closely.
Major companies in the industries of Hyaluronic Acid Products market are Allergan, Sanofi, Ferring B.V, Zimmer Biomet, Fidia Farmceutici, Salix Pharmaceutical, Anika Therpeutics, Seikagaku Corporation, Hoffmann-LA Roche Ltd, Alcon, Inc., Smith & nephew plc, F.Merz Asthetics, Inc.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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