Albany, NY -- (ReleaseWire) -- 06/03/2014 -- According to a new market report published by Transparency Market Research "Hyaluronic Acid Products Market (Single-Injection, Three-Injection Cycle and Five-Injection Cycle) -Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" the global hyaluronic acid products market was valued USD 5.32billionin 2012 and expected to grow at a CAGR of 9.2% from 2013 to 2019, to reach an estimated value of USD 9.85billion in 2019.
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Hyaluronic acid is a glycosaminoglycan with multiple functions in the human body such as creating flexible and protective layers and in several signaling pathways during embryonic development, inflammation, wound healing and cancer. It is an important component of active pharmaceutical ingredients for treatment of osteoarthritis, vesicoureteral reflux (VUR), ophthalmic surgery and aging skin.
Increasing geriatric population globally, high awareness about anti-aging procedures, high awareness in patients about product side-effects and rising demand for minimally invasive surgical procedures are some of the major factors driving the growth of hyaluronic acid products market.
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Hyaluronic acid products market is segmented into products, applications and geography where products market is segmented on the basis of treatment regimen as single-injection, three-injection cycle and five-injection cycle products. In this market,although five-injection cycle product segment is the largest market, howeverdue to changing market dynamics and high patient preference for short duration treatments, three-injection cycle and single-injection segments are estimated to experience a significant growth. This shift has been observed because long treatment duration increases the inconvenience of patients as the side-effects of hyaluronic acid product occurs after every injection.
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Hyaluronic acid applications segment consists of osteoarthritis, ophthalmic surgery, dermal filler and vesicoureteral reflux (VUR). In hyaluronic acid's application market, VUR is growing at a highest CAGR of 12.0%during the forecast period from 2013 to 2019. In VUR disorder, hyaluronic acid treatment is observed to be the most efficient and minimally invasive surgical procedure and is considered to be a method of choice for the treatment of infants over other open complex surgeries.
Geographically, the hyaluronic acid products market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific was observed to be the most attractive and upcoming market for hyaluronic acid productsowing to economic development and improved healthcare facilities. India, China and Japan are expected to be the major markets for hyaluronic acid products.
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