According to the latest market study released by Technavio, the global hyaluronic acid market is expected to grow at a CAGR of close to 9% during the forecast period.
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Technavio has published a new report on the global hyaluronic acid market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Hyaluronic Acid Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global hyaluronic acid market into the following type of products. They are:
- Five-injection cycle
- Three-injection cycle
- Single-injection cycle
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Global five-injection cycle HA market
Five-injection cycle products are administered only once in a week, for five consecutive weeks. The consumers will experience the effects of the therapy by the end of the treatment cycle, which can persist for up to six months. In 2016, the five-injection cycle product segment accounted for around 41% of the total market share, making it the largest segment of the hyaluronic acid market.
According to Ajay Adhikari, a lead analyst at Technavio for specialty chemicals research, "Five-injection cycle is the most prevalent product that exists in countries that have a system of monetary incentive for doctors with each appointment. This high profit margin with every course of treatment is resulting in the increased popularity of five-injection cycle products among doctors."
Global three-injection cycle HA market
The three-injection cycle product segment in the hyaluronic acid market occupied about 32% of the total market share in 2016. The growth of this segment is attributed to the user-friendly nature of this product. The three-injection cycle treatment requires fewer visits to doctors for the administration of the product. The availability of different kinds of hyaluronic acid-based products for three-injection cycle will boost the growth of this market.
Global single-injection cycle HA market
The single-injection cycle product segment is anticipated to witness the highest market growth over the next few years. This injection product provides consumers more convenience and fewer side effects compared to the other hyaluronic acid injections available in the market. The treatment using these products requires only a single injection per course making it very user-friendly. In 2016, the single-injection cycle product segment accounted for around 27% of the total market share in the hyaluronic acid market.
"The rising preference of consumers for short-term treatments and dynamic market conditions will lead to the remarkable growth of the single-injection cycle product segment. The shift in the preference of consumers is due to the inconvenience and side effects of the long duration of the treatment," says Ajay.
The top vendors highlighted by Technavio's market research analysts in this report are:
- Anika Therapeutics
- Zimmer Biomet
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