Hyaluronic Acid Market 2019 Industry, Analysis, Share, Growth, Trends, Supply Forecast to 2023
Global Hyaluronic Acid Market has been segmented on the Basis of Application and Region.
On the Basis of Application, Global Hyaluronic Acid has been classified into ophthalmology, cosmetics, orthopedic products, dietary supplements, pharmaceuticals, and others. Pharmaceuticals segment dominated the Global Hyaluronic Acid Market in 2017 by holding the largest share in the market and accounted for the fastest growing segment by application. The dominance is expected to continue during the forecast period, owing to the rapid growth of pharmaceutical industry across the globe.
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Hyaluronic Acid is used abundantly in the pharmaceutical industry in making drugs and painkillers that are essential for the body. Pharmaceutical industry is growing at a faster pace and it is expected to grow at similar rate in the forecast period. This factor is contributing to the growth of pharmaceutical segment and it will in turn boost the growth of Hyaluronic Acid Market.
Global Hyaluronic Acid Market was valued at USD 7.1 billion in 2017, and it is expected to grow at CAGR 5.2%.
Hoffmann-La Roche Ltd (Switzerland), Seikagaku Corporation (Japan), BASF SE (Germany), SpecialChem (France), Evonik Industries AG (Germany), Merck KGaA (US), American Chemical Society (US), ABIOGEN PHARMA S.p.A.(Italy), Galderma S.A. (Switzerland), Genzyme Corporation (US), Ferring B.V. (Netherlands), Smith & Nephew (UK), Alfa Sagittarius (Poland), Shiseido Company (Japan), and Kikkoman Corporation (Japan) are some of the key players operating at the forefront of Global Hyaluronic Acid Market.
Global Hyaluronic Acid Market is spanned across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific dominated the market in 2017, owing to the growing number of diseases and orthopedic problems among the population, the region is witnessing a high demand of Hyaluronic Acid for its use in pharmaceuticals, dietary supplements, and others. North American market is projected to show strong growth during the forecast period due to the presence of large number of pharmaceutical industries and cosmetics users. Europe is expected to show remarkable growth, while Latin America and the Middle East & Africa, are expected to show moderate and sluggish growth respectively, during the review period.
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