InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Hyaluronic Acid API Market – (By Type (Animal Tissue, Microbial Fermentation), By Application (Cosmetics, Medical, Food)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Hyaluronic Acid API Market is valued at US$ 501.85 Billion in 2023, and it is expected to reach US$ 1,392.64 Billion by 2031, with a CAGR of 13.77 % during the forecast period of 2024-2031.
Hyaluronic acid API is used to manufacture many different kinds of cosmetic and health things. Most of a person’s hyaluronic acid stores are in their connective tissues, skin, and eyes. Developing market consumers can increasingly afford hyaluronic acid API goods due to improvements in healthcare facilities and growing minimum wages. The increasingly large and elderly population around the globe. The growth of hyaluronic acid-containing non-invasive cosmetic procedures like dermal fillers is also fueling the industry. Due to developments in synthesis and purification techniques, hyaluronic acid is now more widely available and inexpensive, making it a viable ingredient in high-end cosmetic products and a range of pharmaceutical formulations. The health and wellness industry’s meteoric rise in popularity that highlights the use of natural and effective components propels the need for hyaluronic acid API demand around the world. However, the high costs associated with hyaluronic acid API and the strict regulatory framework controlling pharmaceutical production limit the hyaluronic acid API market’s growth.
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List of Prominent Players in the Hyaluronic Acid API Market:
- Bloomage Biotech
- Focus Chem
- Fufeng Group
- AWA Biopharm
- China Eastar Group
- Kewpie
- Seikagaku
- HTL Biotechnology
- Fidia Farmaceutici
- Other Market Players
Market Dynamics:
Drivers-
A key element propelling the hyaluronic acid API market is the exponentially increasing global population of people aged 65 and up because hyaluronic acid production decreases naturally with age. More and more individuals are looking for ways to delay the obvious indications of ageing, and hyaluronic acid-based skincare products and dermal fillers have become increasingly popular. This has led to a boom in the demand for hyaluronic acid API. Customers’ tastes and habits have changed dramatically in favour of skincare and anti-ageing goods. Customers are learning more and more about how hyaluronic acid helps skin stay healthy and look younger. The rising demand for skincare products containing hyaluronic acid API can be attributed to the combination of individuals’ greater knowledge of the need for self-care and their desire to enhance their appearance.
Challenges:
The increased cost of hyaluronic acid API and prodigious investments in infrastructure, equipment, and knowledge are necessary for the complicated fermentation, purification, and formulation procedures used to manufacture hyaluronic acid API. Hyaluronic acid-based products may be more expensive and less accessible to some consumers due to these factors, which can discourage new entrants to the market. In addition, the availability of substitutes hinders the expansion of the hyaluronic acid industry. Some skin care compounds, such as ceramides, vitamin C, and others, are limiting the growth of the hyaluronic acid API industry.
Regional Trends:
The North American hyaluronic acid API market is anticipated to register a major market share in revenue. It is projected to grow at a high CAGR in the near future due to a significant part of the North American population being increasingly interested in non-invasive cosmetic operations. In addition, there is a widespread availability of these treatments, which are made possible by the modern healthcare infrastructure and high healthcare expenditure. Besides, Europe had a considerable share in the market due to technological innovation and improvement, growing recognition of hyaluronic acid API efficacy in treating skin diseases, and rising healthcare infrastructure, which also have a role in the expansion of this market.
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Recent Developments:
- In Dec 2023, Bloomage unveiled its Bloomsurfact EncapCare RP emulsion solution. This solution effectively rejuvenates skin and fights against ageing. The EncapCare RP is a great alternative for sensitive skin because it uses Bloomage’s proprietary component dispersion technology with Bloomsurfact Sodium Surfactin to guarantee high bioavailability, stability, and reduced irritation.
- In Oct 2021, HTL Biotechnology substantially enhanced its production capacity for hyaluronic acid through fermentation at its facility in Javené, France. According to HTL, their $58 million investment has positioned them as the leading global manufacturer of pharmaceutical-grade hyaluronic acid. Orthopedists employ hyaluronic acid injections to alleviate joint pain, while cosmetic surgeons utilize them to address sunken areas of the face, among other uses.
Segmentation of Hyaluronic Acid API Market-
By Type-
- Animal Tissue
- Microbial Fermentation
By Application-
- Cosmetics
- Medical
- Food
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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