Latest News- Hyaluronic Acid Market: Dermal fillers is expected to lead the Application segment during 2024-2028

The Hyaluronic Acid Market is being driven by Need for safe and stable drugs that require minimal monitoring

The Hyaluronic Acid Market is expected to grow at a CAGR of 8.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4462.8 million. In the global hyaluronic acid market, regional and international players are actively engaging in strategic alliances and partnerships to broaden their product offerings and address the escalating demand from the pharmaceutical sector, particularly in dermatology, orthopedics, and surgical adhesion prevention. Notable mergers and acquisitions (M&A) activities include AbbVie Inc.'s acquisition of Syndesi Therapeutics in March 2022. This acquisition granted AbbVie access to Syndesi's portfolio of SV2A modulators, including their lead product, SDI-118, bolstering AbbVie's neuroscience portfolio. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Dermal fillers
  • Osteoarthritis
  • Ophthalmic
  • Vesicoureteral reflux
• End-user
  • Pharmaceutical industry
  • Cosmetic industry
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • South Korea
  • Europe
    • Germany
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need for safe and stable drugs that require minimal monitoring
• Rising demand for non-surgical aesthetic procedures
• Advancements in delivery systems of hyaluronic acid molecules in cosmetics

However, the market also witnesses some limitations, which are as follows:

• Fluctuating raw material prices of hyaluronic acid
• Competition from alternative ingredients
• High production costs of hyaluronic acid

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Market Scope in Hyaluronic Acid Market Research Report

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Research Analysis Overview

Hyaluronic acid, a naturally occurring substance in the body, offers numerous benefits for both medical and cosmetic applications. In the cosmetics industry, it is widely used for anti-aging purposes, promoting skin rejuvenation, reducing wrinkles, and improving skin elasticity and hydration for a glowing complexion. For sensitive or dry skin, hyaluronic acid moisturizers provide essential hydration and plumping under wrinkles. In medical aesthetics, it is used to treat acne scars, acne, and skin conditions like dermatitis, while also aiding in collagen production and skin barrier repair. Additionally, hyaluronic acid is employed in the medical field for various purposes, including urinary tract infections, osteoarthritis, bladder pain, and eye-related conditions such as cataract surgery, myopia, laser surgery, dry syndrome, blepharitis, macular degeneration, and ophthalmic surgery. Its benefits extend to reducing pores, hydrating the skin, and providing relief from conditions like allergies, diabetic retinopathy, and strains.

Market Research Overview

The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals used in the production of various products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio's market analysis, the specialty chemicals industry's expansion will be fueled by the increasing demand for specialized adhesives and sealants. In the medical aesthetics sector, this trend is particularly evident, with the rising popularity of hyaluronic acid fillers for addressing conditions such as melasma, hyperpigmentation, dry skin, and aging. As a result, the market for specialty chemicals is poised for significant growth in the coming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/