Market Trends of Hyaluronic Acid Products Industry
Increased Cases of Orthopedic Disorders
Hyaluronic acid in dietary supplements is valuable for individuals suffering from orthopedic disorders such as osteoarthritis (a degenerative joint disease) as it helps reduce pain and lubricate the joints. A growing prevalence of orthopedic diseases, such as arthritis, osteoporosis, and knee injuries, results in bone damage. In severe cases, total knee replacement (TKR) surgery can be delayed with the help of Hyaluronic Acid (HA). Rising musculoskeletal conditions, including knee, hip, and other joint diseases, are increasing the demand for joint replacement surgical surgeries, thereby driving the growth of the Hyaluronic Acid Market segment in the Pharmaceutical Industry. According to the data published by the Centre for Disease Control and Prevention in 2021, one in five adults has arthritis in the United States. Moreover, by 2040, an estimated 78.4 million adults aged 18 and older will have arthritis, as per the National Health Interview Survey.
An article published in the journal Research Bone in May 2022 reported that with the increase in the aging of the world's population, it is estimated that the prevalence of osteoarthritis (OA) will increase from 26.6% to 29.5% among the middle-aged population by 2032. Therefore, the increasing geriatric population is one of the most significant target segments for the hyaluronic acid market, as they are highly susceptible to incontinence, bone injuries, and fractures. Thus, with the increasing cases of bone and joint-related issues, the market for hyaluronic acid is projected to witness significant growth during the forecast period.
Asia Pacific Holds a Prominent Share in the Market
China is the biggest market for hyaluronic acid in the Asia-Pacific region. As the leading suppliers of hyaluronic acid are based in China, there is a convenient availability of Hyaluronic acid, particularly in China. Producers are focusing on further expanding their production capacity and applications of hyaluronic acid in the cosmetics and medical beauty fields. For instance, in 2022, China’s hyaluronic acid supplier Bloomage Biotech launched X Lab, a new functional body care label, and a hydrating shower gel containing patented hyaluronic acids to achieve a similar hydrating effect as its facial cleanser.
According to the World Economic Forum, an article published in September 2023 stated that more than 1 in 10 people in Japan are aged 80 or older, and the country consistently rates itself as having the world's oldest population. Hyaluronic acid plays a crucial role in joint health as its lubricating properties can ease pain and stiffness associated with age-related osteoarthritis, improving mobility and quality of life. Thus, the increasing aging population is the major driving factor behind the significant growth of the hyaluronic acid market in Japan.
India and Australia are other potential markets for hyaluronic acid manufacturers to expand their market share. India has one of the largest millennial populations, which tend to spend more on beauty and skincare essentials. Due to high environmental exposure, supplemental hyaluronic acid is popular among Australians to protect the skin barrier and keep water from evaporating, giving the body more hyaluronic acid to integrate into the skin.
