HYALURONIC ACID PRODUCTS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Hyaluronic Acid Market Analysis:

The Hyaluronic Acid Products Market is projected to experience significant growth, with an expected increase from USD 12.04 billion in 2023 to USD 17.36 billion by 2028, at a CAGR of 7.60% during the forecast period (2023–2028).

Hyaluronic acid is a highly sought-after ingredient in cosmetics and skincare products due to its exceptional moisture-retaining properties. As a result, the demand for hyaluronic acid as an ingredient in these products has been steadily increasing. The Asia-Pacific region, including Japan, Australia, and China, has presented a significant opportunity for the dietary supplement and cosmetics industry to develop and gain increasing revenues using hyaluronic acid as an active ingredient, due to rapidly aging demographic profiles.

Top players in different segments are launching new hyaluronic acid-based products to maintain their position in the market. For example, Bausch Health’s ClearVisc Ophthalmic Viscosurgical Device (OVD) is the latest approved hyaluronic acid-based Visco supplement for ophthalmic use. Manufacturers are also producing hyaluronic acid-based supplements and injectables to meet the increasing demand from patients with osteoporosis and rheumatoid arthritis.

The market growth is expected to be fueled by the increasing preference for minimally invasive procedures and the requirement for quicker results. The industry’s expansion is also being propelled by the emergence of cost-effective treatments and products, the aging population, growing aesthetic consciousness, and technology advancements. The increasing use of nonsurgical cosmetic procedures like Botox and injectable hyaluronic acid is driving the industry, with hyaluronic acid having major use in cosmetic applications. For instance, in skincare formulation, hyaluronic acid can be used as a moisturizing component owing to its hydrophilic nature.

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