Market Highlights
Hyaluronic acid is produced naturally by our body, and its function varies based on the area in which it is produced. However, its basic and ultimate function is to lubricate the connective tissue and the bones and make the body appear hydrated. Besides, it has special features, such as wound remedy and inflammatory aid, which has further enhanced its market value. It also hydrates the body and resists early skin aging.
Global Hyaluronic Acid Market size is expected to have a market value of USD 19,945.4 Million by 2027.
Segment Analysis
Global Hyaluronic Acid Market based on the grade has been segmented into Cosmetic Grade, Pharmaceutical Grade, and Food Grade. The global hyaluronic acid market, by application, has been segmented into aesthetics, osteoarthritis, pharmaceutical API, cosmetics, dietary supplements, ophthalmology, and others. The global market, by end-users, has been segmented into the pharmaceutical industry, dermatology clinics & cosmetics, food industry, personal care, and others.
Regional Analysis
Global Hyaluronic Acid Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The presence of a large pharmaceutical base in the US is a key driver of the regional market growth. According to the European Federation of Pharmaceutical Industries & Association (EFPIA), North America accounted for 48.7% of world pharmaceutical sales in 2019. Moreover, the US invested nearly USD 55,755 million in pharmaceutical R&D expenditure, which exhibited an annual growth rate of 8.6%.
The European hyaluronic acid market has been further segmented into Western Europe and Eastern Europe. The Western Europe hyaluronic acid market has further been classified into Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
According to the EFPIA, Europe accounted for 22.9% of the overall pharmaceutical sales in 2019. In 2017, Europe invested an estimated USD 41 807.1 million in R&D. According to the European Trade Association for the cosmetics and personal care industry, the European market grew by 1.3% in 2018 to reach USD 88.88 billion. More than USD 24.23 billion of cosmetic products were exported by European countries in 2017, compared to USD 19.18 billion in 2016. Total imports amounted to only USD 7,117.85 million, mainly from the US, China, and Japan.
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