Hyaluronic Acid Products Market – An Analysis of Strategies of Major Competitors
Hyaluronic acid (HA) is a unique non-sulfated glycosaminoglycan, distributed throughout the body in connective tissues, epithelial and neural tissues. Hyaluronic acid contributes significantly to cell proliferation and migration and is observed to be an integral component of the extracellular matrix. Hyaluronic acid has wide number of applications such as orthopedic surgery, rheumatology, ophthalmology, otolaryngology, dermatology and plastic surgery, wound healing and drug delivery. Hyaluronic acid products are segmented on the basis of treatment regimen into single-injection, three-injection cycle and five-injection cycle products. In addition, HA injectable can be utilized in a range of applications such as osteoarthritis, dermal fillers, ophthalmic surgery and vesicoureteral reflux (VUX).
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The major factors driving this market are increasing geriatric population globally, high awareness about anti-aging procedures, patient’s preference for the treatment with minimum side-effects and rising demand for minimally invasive surgical procedures.
In products segment, five-injection cycle products is the largest marketsegment and single-injection market segment is growing with highest CAGR during forecast period from 2013 to 2019. Hyaluronic acid products market is observing a global shift in usage of five-injection cycle to single-injection cycle treatment as there has been a considerable change in preference of patients towards short duration treatment. This shift in preference is mainly related to convenience of patients as they try to avoid side-effects such as redness, inflammation and itching experienced after every treatment and five-injection cycle is a prolonged treatment compared to single-injection.
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Dermal fillers is the largest market closely followed by osteoarthritis market and vesicoureteral reflux (VUR) applications market. VUR application market for hyaluronic acid products is growing at a highest CAGR during the forecast period from 2013 to 2019. The segment is mainly driven by aging population, high demand for minimally invasive surgical treatments and high awareness about beauty enhancements.
North America is the largest hyaluronic acid products market owing to high product demand, acceptance of premium priced products and high awareness about modern treatments. Europe is the second largest hyaluronic acid products market. It experienced an economic downturn that created turmoil in hyaluronic acid products marketas reimbursement policies turned out to be inconvenient and the premium priced products were accepted only in specific countries. Asia-Pacific and Rest of the World (RoW) were estimated to be the future hyaluronic acid products destinations as there is market driven by economic development, healthcare facility enhancements and high demand for minimally invasive surgeries.
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Allergan, Inc., Anika Therapeutics, Inc. and Merz Aesthetics are major companies leading the hyaluronic acid products market. Major applications of hyaluronic acid products involves dermal filler and osteoarthritis treatment, hence, the major manufacturers have their product portfolio including hyaluronic acid injections applied in these two application areas.
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