Hyaluronic Acid-Based Biomaterials Market Analysis & Forecast 2024-2030

Global Hyaluronic Acid-Based Biomaterials Market is expected to reach USD 2495.67 million by 2030 with CAGR of 15.4% between 2024 and 2030

Overview

Hyaluronic acid-based biomaterials are widely used in the healthcare industry owing to their novel applications in promoting angiogenesis, granulation tissue formation, remodeling of the extracellular matrix, and wound healing processes. Growing demand for hyaluronic acid-based biomaterials in medical practices, cosmetic surgery, health products, and cosmetics is driving the growth of the hyaluronic acid-based Biomaterials market. However, side effects associated with products are hampering the growth of the market. Growing technological advancements in wound healing and hyaluronic acid-based formulations are expected to boost the growth of the market in the forecast period.  

Product types & Competitive analysis

Based on product type market is segmented into cosmetic grade, food grade, and pharmaceutical grade. The cosmetic grade segment dominated the product type segment accounting largest revenue share in the year 2023. Cosmetics products containing hyaluronic acid-based biomaterials are gaining importance in the market and have shown great effectiveness in skincare. In addition to this rising demand for cosmetics surgeries and aesthetic procedures is expected to boost the segment growth in the forecast period. The pharmaceuticals segment was the fastest-growing segment and is expected to account significant share in the forecast period.  

The competitive analysis included in the research study helps users to understand key players market positioning and marketing strategies. Technological advancements in hyaluronic acid-based biomaterials in cosmetic treatments are offering lucrative opportunities for the key stakeholders in the market. Several companies are offering various kinds of dermal fillers, health products, and cosmetic products for wound healing and to treat various diseases and health conditions.  

For instance, in December 2022 Fidia Farmaceutici S.p.A. launched a Hyaluronic Acid (HA) based TRILURON™ (sodium hyaluronate). TRILURON™ is a viscosupplement used for the treatment of pain in osteoarthritis of the knee in patients who are unable to respond to non-pharmacologic therapy and analgesics. Moreover, in January 2021, St. Botanica one of the fastest-growing Indian companies in the Beauty and Health Personal Care segment launched Hyaluronic Acid-based shampoo named GO Smooth Shampoo. 

The shampoo is a combination of vital ingredients such as Hyaluronic Acid, and essential oils that help in smoothing hair follicles and strengthening the hair. Many companies are getting their products approved through the FDA (Food and Drug Administration) regulatory boards and engaging in strategic partnerships with other players to introduce new products to the market.  

For instance, on June 13, 2022, IBSA, a prominent player in hyaluronic acid products, and Alma, a key player in medical and aesthetic applications announced a strategic partnership to promote an innovative approach to aesthetic medicine aimed at maintaining the tissues involved in the raging process. Also, companies are announcing potential mergers and acquisitions of key players as a strategy to increase market share and obtain sustainable growth for the company.  

 

Application & Regional analysis

The application segment of the Hyaluronic Acid-Based Biomaterials Market is divided into medical hygiene, plastic surgery, health products, and cosmetics. In terms of revenue generation, the cosmetics segment led the Hyaluronic Acid-Based Biomaterials Market in 2023. The growth was attributed to the growing demand for hyaluronic acid-based biomaterials-based products in cosmetic and therapeutic procedures. Moreover, increased access to dermatology services around the world, rising disposable income, and a growing desire to look good are expected to drive the growth of the cosmetic segment in the foreseeable future.  

 

The regional outlook of the research study is based on analysis of the market in North America, Europe, Asia Pacific, Middle East, South America, Africa & Rest of the World. North America accounted for the largest market share of the Global Hyaluronic Acid-Based Biomaterials Market in 2023. Its large share is attributed to growth in minimally invasive cosmetic surgeries, and the introduction of new products based on hyaluronic acid for wound healing, skincare, and treatment of joint pain.  

The rising prevalence of osteoarthritis, the presence of key players, rising number of eye surgeries are other key factors driving the growth of the North American Hyaluronic Acid-Based Biomaterials Market. Osteoarthritis is a common joint condition in the United States. According to the Centers for Disease Control and Prevention by 2040, about 78 million people in the US aged 18 years or older are expected to have doctor-diagnosed arthritis i.e. around 26 % of the total population in the country.  

Asia-Pacific is expected to grow at the highest CAGR during the forecast period 2020-2026. Its growth is attributed to the high prevalence of Osteoarthritis, rising awareness regarding hyaluronic acid-based products, the developing pharmaceutical industry, and rising capital ventures of key players in the region. The market is expected to witness significant growth in the forecast period due to rapidly growing economies such as India and China. The cases of Osteoarthritis are rising in China, Japan, and India as these countries have a significant geriatric population and the number of cases will rise significantly in coming years.  

According to the statistics from WHO (World Health Organization), China is ageing faster the percentage of the population aged 60 years and over will rise from 12.4% in 2010 to 28% in 2040. In addition to this rising adoption of Hyaluronic Acid-Based biomaterials in wound repair applications, eye surgeries, and the cosmetic industry will fuel the growth of the market in the forecast period.  

 

Hyaluronic Acid-Based Biomaterials Market : Product Types

Hyaluronic Acid-Based Biomaterials Market : Product Types

• Food grade
• Pharmaceutical grade
• Cosmetic grade

Hyaluronic Acid-Based Biomaterials Market : Application

• Cosmetics
• Health products
• Plastic surgery
• Others

Hyaluronic Acid-Based Biomaterials Market : Competitive Analysis

The report includes accurate analysis of key players with Market Value, Company profile, and SWOT analysis. The Study consists of the following key players in the Global Hyaluronic Acid-Based Biomaterials Market :

• Novozymes
• Kewpie
• Bloomage BioTechnology

Geographical analysis of Hyaluronic Acid-Based Biomaterials Market :

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Hyaluronic Acid-Based Biomaterials Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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