Global Hyaluronic Acid Products Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The advanced innovative technology and developments of hyaluronic acid-based products have improved aesthetic treatment for skin and other body parts wherever necessary

• Hyaluronic acid-based dermal fillers are the less invasive cosmetic processes. Dermatology problems are common across the globe. It has become a major concern to understand the products to treat skin-related problems and restore skin wrinkles. Various programs have been launched to create awareness about the proper use of hyaluronic acid injectables.
• The increased consciousness will enable the consumers to opt for the correct treatment of acne and wrinkles and to select the right product such as Botox injection, or dermal fillers as per the correct cause. This will lead to a rise in sales, a rise in the product portfolio, and an expansion of the product line. This factor is expected to propel the market growth. Furthermore, Hyaluronic acid-based dermal fillers are less invasive cosmetic processes. These are popular cosmetic procedures for facial renovation, face volume restoration, and aesthetic improvement. Hence, the demand for Hyaluronic Acid is increased in upcoming years.
• Moreover, there is a need to focus efforts on hyaluronic acid research because hyaluronic acid is a naturally occurring molecule that has a variety of important functions in the human body. It is a major component of connective tissue, where it helps to maintain hydration and elasticity, and is also involved in wound healing, tissue repair, and inflammation. Also, Research on hyaluronic acid has shown that it has potential therapeutic applications in a variety of medical fields, including dermatology, ophthalmology, orthopedics, and oncology. For example, hyaluronic acid is commonly used in dermal fillers and in the treatment of osteoarthritis, where it can provide pain relief and improve joint function. Additionally, hyaluronic acid has been shown to have anti-inflammatory and antioxidant properties, which may make it useful in the treatment of a variety of diseases, such as cancer, diabetes, and cardiovascular disease. It creates an opportunity for the markets.
• However, With the widespread accessibility of the aesthetic applications of Hyaluronic acid-based dermal fillers, several limiting factors of these products are projected to hamper the global market growth in the coming years. Due to the high efficacy rate, patient satisfaction, and usage in dynamic wrinkles, botulinum toxin type, a dermal filler, is leading the non-surgical cosmetic procedure worldwide.

Market Segmentations

• The Global Hyaluronic Acid Products Market is segmented based on Grade, applications, End-Use, and Geography.
• Based on Grade, the global hyaluronic acid market is segmented into Cosmetic Grade, Pharmaceutical Grade, and Food Grade.
• The Cosmetic Grade segment accounted for the largest revenue share in the forecasting year. Cosmetic-grade hyaluronic acid is a form of hyaluronic acid widely used in manufacturing cosmetics and personal care products. It is highly pure and free of impurities, making it safe for use on the skin Cosmetic grade is a leading segment in generating the largest revenue. Rising consumer focus on personal grooming and increasing awareness about the benefits of hyaluronic acid for the skin is expected to drive revenue growth of the segment.
• Based on applications, the global hyaluronic acid market is segmented into aesthetics, osteoarthritis pharmaceuticals, cosmetics, ophthalmic, and others.
• The aesthetics segment accounted for the largest revenue share in the forecasting year. Hyaluronic acid is increasingly adopted in aesthetic applications owing to several benefits. For instance, many beauty and cosmetics companies are procuring hyaluronic acid to develop various products, such as dermal fillers to plump up wrinkles and fine lines, add volume to the cheeks, and enhance the lips. In addition, hyaluronic acid-based skin hydration treatments improve the skin's overall appearance by increasing the hydration levels of products and reducing the appearance of wrinkles. Moreover, rising consumer acceptance of non-surgical cosmetic procedures and hyaluronic acid-based treatments are significantly contributing to the revenue growth of this segment.
• Based on end-use, the global hyaluronic acid market is segmented into personal care, the pharmaceutical industry, dermatology clinics, cosmetic surgery, the food industry, and others.
• The personal care segment accounted for the largest revenue share in the forecasting year. Hyaluronic acid is rapidly adopted in personal care product manufacturing, such as moisturizers, serums, and facial masks, to improve the skin's hydration and elasticity and reduce the appearance of wrinkles. Several personal care companies are using hyaluronic acid to manufacture dermal fillers and skin hydration products. Also, increasing consumer awareness of personal grooming and rising awareness about the benefits of hyaluronic acid for the skin is expected to drive revenue growth in the segment.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• During the forecast period, Asia-Pacific is expected to grow at a fastest CAGR during the forecast period. During the forecast period, China and India are expected to serve as the top investment countries in the market. This is attributed to a rising consumer base such as the cosmetic, pharmaceutical, and nutraceutical industries. In addition, the region also comprises major industrial participants, especially in China. Furthermore, the major competitive advantage of Chinese hyaluronic acid companies is their cheap cost. Moreover, there were some significant developments with respect to hyaluronic acid-based fillers in Asia-Pacific. For instance, LG Chem expands its presence in Japan and China with bioproducts. The company has been expanding its presence in Japan and China with its hyaluronic acid filler in order to enhance its presence in the high-end filler market.

Recent Development

• Royal DSM launched three different forms of hyaluronic acid, which enhances skin hydration and strengthens the protective barrier. - March 2021
• AbbVie announced the approval of a new hyaluronic acid product-Juvederm Voluma XC-indicated for improving chin profile in adults. -June 2020

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Hyaluronic Acid Products Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Hyaluronic Acid Products Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Hyaluronic Acid Products Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market