Global Hyaluronic Acid Market 2017-2021
About Hyaluronic Acid
HA is an anionic and non-sulfated glycosaminoglycan, which is present in human body especially in the joints in the form of fluids; it acts as a lubricant, thereby providing a cushioning effect. HA is primarily used in medical and cosmetic applications such as dermal fillers, osteoarthritis, ophthalmic surgery, and VUR. In addition, it helps in the healing of wounds. The rising demand for cosmetics and non-surgical procedures is expected to drive the growth of the HA market.
Technavio’s analysts forecast the global hyaluronic acid market to grow at a CAGR of 8.7% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global hyaluronic acid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hyaluronic Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global hyaluronic acid market: ALLERGAN, Anika Therapeutics, Sanofi, SEIKAGAKU, and Zimmer Biomet.
Other Prominent Vendors in the market are: Contipro, Ferring, Fidia Farmaceutici, Galderma, Hyalogic, HYALTECH, Lifecore Biomedical, Maruha Nichiro, Meiji Holdings, Merz Pharma, Rayner, Shiseido, TRB CHEMEDICA INTERNATIONAL, and Valeant.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is production of HA with cost-effective raw materials. There is an incessant rise in the cost of raw materials that are used for the microbial production of HA. This situation has led to an endless focus on finding a cheaper substrate to replace the raw materials to reduce the production cost, by the players. The ever-rising need for a sustainable environment has led to the exploration of the possibility of producing HA with inexpensive crude materials or wastes generated from other industrial processes.”
According to the report, one driver in the market is increased ailments among the growing aging population. The undeniable fact about the increasing population across the globe is further mined down to understand that there is an increase in the aging population. The aging population is observed to be more susceptible to conditions such as dry eyes, osteoarthritis, and ulcer. It has been observed that the total number of people who are aged 65 years and above was 522 million in 2010 and is anticipated to rise to approximately 1.4 billion in 2050, which will exceed the number of children less than 5 years of age.
Further, the report states that one challenge in the market is intense competition leading to reduced ASP. One of the major challenges faced by the global HA is the competitive price. The players around the world focus on selling their product at a price similar to that of their competitors in order to gain more sales and capture the market share. The intense competition in price restricts the ASP (Average Selling Price) of HA viscosupplements. Viscosupplementation aids in reducing pain and enhancing functions related to knee osteoarthritis.
ALLERGAN, Anika Therapeutics, Sanofi, SEIKAGAKU, Zimmer Biomet, Contipro, Ferring, Fidia Farmaceutici, Galderma, Hyalogic, HYALTECH, Lifecore Biomedical, Maruha Nichiro, Meiji Holdings, Merz Pharma, Rayner, Shiseido, TRB CHEMEDICA INTERNATIONAL, and Valeant.
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