The World Bank estimates that the geriatric population in the world’s most populous country China had reached 10% of the population in 2016. The United Nations believes that nearly a third of the country will be over the age of 60 in 2050. A geriatric population is far more susceptible to osteoporosis the treatment of which necessitates hyaluronic acid products. Future Market Insights in its report titled ‘Hyaluronic Acid Products Market: Global Industry Analysis 2012 –2016 and Opportunity Assessment 2017 – 2027’ anticipates the global hyaluronic acid products market to be worth approx. US$ 5 billion in 2027.
Product Type – Three Cycle Injection Products Critical in Hyaluronic Acid Products Market
The three-cycle injection product segment is the largest in the hyaluronic acid products market at the end of 2017 and is on track to retain its pole position for the next decade. The three cycle injection product segment is predicted to have a value of just under US$ 2 billion by end 2027, making it vital for key stakeholders in the hyaluronic acid products market. The market attractiveness of three cycle injection products is 1.2. However, three cycle injection products typically have a premium price and it remains to be seen if they become as popular in emerging economies as they are in developed ones.
Application – Osteoarthritis and Dermal Fillers Neck and Neck in Hyaluronic Acid Products Market
There is a close battle between the osteoarthritis and dermal fillers application segment in the hyaluronic acid products market with the former inching slightly ahead. The CAGR of the osteoarthritis segment is 7.8% to the 7.7% witnessed in the dermal fillers segment from 2017 to 2027. Therefore, it wouldn’t be advisable to ignore one of these over the other in the hyaluronic acid products market. There has been a noticeable spike in osteoarthritis patients seeking out alternative options to knee replacement in order to avoid the side effects of corticosteroids injections that could pose a challenge to growth in the hyaluronic acid products market.
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Region – Target North America and Western Europe Hyaluronic Acid Products Market
North America and Western Europe hold the maximum share in hyaluronic acid products market and are likely to remain so for some time to come. The two regions are expected to be the only ones in the hyaluronic acid products market worth more than one billion dollars by the end of the forecast period with a higher CAGR in North America. Favourable reimbursement policies for treating various scar conditions fuels demand for hyaluronic acid products in the US. Furthermore, reimbursement for HA injections also play a major role.
Competition Dashboard in the Hyaluronic Acid Products Market
Future Market Insights has profiled a few of the companies in the hyaluronic acid products market. The companies are Allergan plc, Anika Therapeutics, Shanghai Jingfeng Pharmaceutical Co., Ferring Pharmaceuticals, Galderma SA, Sanofi, Salix Pharmaceuticals Ltd., Smith & Nephew, Zimmer Biomet, Seikagaku Corporation, and Fidia Farmaceutici.
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Manufacturers in the hyaluronic acid products market have focused their attention on developing new custom-made implants for minimally invasive surgery. Companies now outsource their manufacturing to reduce the high cost and thereby improve their competitive position vis-à-vis their immediate rivals in hyaluronic acid products market. Lastly, companies have entered into collaboration activities to expand their portfolio and boost their presence across countries in hyaluronic acid products market.