Albany, NY -- (SBWIRE) -- 11/24/2017 -- Hyaluronic acid, a vital component of the extracellular matrix, finds a multitude of applications ranging from drug delivery to wound healing. These wide-ranging applications will prove conducive to the growth of the global hyaluronic acid products market, leading it to post a high single-digit CAGR of 9.2% between 2013 and 2019, says Transparency Market Research in its latest report. The next few years will see a continued uptick in the demand for hyaluronic acid products with more people undergoing anti-aging and minimally-invasive procedures. TMR projects the global hyaluronic acid products market to rise from its 2012 valuation of US$5.32 bn to US$9.85 bn by 2019. These findings are further elaborated in TMR's report titled 'Hyaluronic Acid Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.'
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However, market expansion will be marred to some extent because of the cost barrier being considerably high in the hyaluronic acid products market. In order to mitigate the impact of this restraint, companies in the market are recommended to focus on partnerships as a channel for expansion. More specifically, TMR analysts recommend large multinational companies to join hands with local businesses to register a wider regional presence. The other important recommendation TMR analysts make is to focus on reducing side effects resulting from hyaluronic acid products.
For the purpose of this study, the global hyaluronic acid products market is segmented on the basis of the following criteria: product, application, and geography. By product, the market is segmented into three-injection cycle, single-injection cycle, and five-injection cycle products. Five-injection cycle products constituted the largest segment in the global hyaluronic acid products market in 2012 whereas the single-injection cycle products segment has the highest rate of growth from 2013 through 2019.
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Based on the type of application, HA injectables are segmented into ophthalmic surgery, osteoarthritis, vesicoureteral reflux (VUR), and dermal fillers. The dermal fillers market constitutes the largest segment in the hyaluronic acid products market by application, with osteoarthritis and vesicoureteral reflux (VUR) trailing. The vesicoureteral reflux (VUR) application segment is forecast to report the highest rate of growth through the report's forecast period. The expansion of this segment can be credited to factors such as a high demand for minimally-invasive and non-invasive surgical procedures and a high aging population.
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Furthermore, the global HA products market is also studied on the basis of geography, with the key regional markets being: North America, Asia Pacific, Europe, and Rest of the World (RoW). North America led the global hyaluronic acid products market globally in 2012 whereas Europe was seen to be the second-largest market worldwide in the same year. The recent economic downturn in Europe caused much disruption in the global hyaluronic acid products market when the unfavorable reimbursement scenario stood in the way of the higher adoption of hyaluronic acid products. The future of the hyaluronic acid products market lies in Asia Pacific and Rest of the World owing to an enhancement in the healthcare facilities here and a surging demand for minimally invasive surgeries.
The market, in 2012, saw the dominance of three major players: Merz Aesthetics, Allergan, Inc., and Anika Therapeutics, Inc.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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