Hyaluronic acid, also called hyaluronan, is an anionic, nonsulfated glycosaminoglycan distributed widely throughout connective, epithelial, and neural tissues. Its function in the body is to bind water and to lubricate movable parts of the body, such as joints and muscles. The market for global hyaluronic acid was valued at around USD 6.7 billion in 2015 and is expected to reach USD 12.1 billion by 2022, growing at a CAGR of around 8.9% during the forecast period of 2016 to 2022. Hyaluronic acid, also called hyaluronan, is an anionic, nonsulfated glycosaminoglycan distributed widely throughout connective, epithelial, and neural tissues. Its function in the body is to bind water and to lubricate movable parts of the body, such as joints and muscles. Its consistency and tissue-friendliness allows it to be beneficial in skin-care products as an excellent moisturizer. Because it is one of the most hydrophilic molecules in nature with numerous benefits for the human body it can be described as nature’s moisturizer. Hyaluronic acid helps to maintain normal joint cushioning. With these advantages, hyaluronic acid exhibits a wide range of applications in ophthalmology, dermatology, rheumatology, orthopedic surgery, otolaryngology, plastic surgery, drug delivery, and wound healing.Rise in base of geriatric population, increasing incidence rates of osteoarthritis, ulcers and gingivitis, and rising demand for cosmetic procedures related to anti-aging process are some of the factors which are expected to expand the market significantly in the coming years. In addition, growing patient’s preference for minimally invasive surgical procedures, favorable reimbursement policies, and increasing awareness about health and beauty standards among the population are further driving this market in the coming years. Along with these factors, there are certain restraining factors that could hinder the market in future, which include availability of other cost effective treatment options. Introduction of newer technologies into the market and large number of product approvals witnessing the huge market growth. Geographically, North America is the leading contributor to the market and is expected to retain its position during the forecast period due to the presence of large number of geriatric population and the population who are more conscious about aging. However, Asia-Pacific market is expected to grow at a faster rate during the forecast period. This is predominantly due to increased healthcare awareness, improved economic growth, and growing awareness among the population about the aesthetics. Companies profiled:
- Allergan Inc
- Sanofi
- Genzyme Corporation
- Hoffmann-La Roche Ltd.
- Zimmer Biomet
- Smith & Nephew plc
- Ferring Pharmaceuticals Inc.
- Anika Therapeutics Inc.
- Seikagaku
- Salix Pharmaceuticals
Table of content
1. Scope of the report 1.1 Report description 1.2 Research methodology 1.3 List of abbreviations 1.4 Market segmentation 2 Executive summary
