- The key vendors in the Global Hyaluronic Acid Market 2014-2018 are Allergan Inc., Ferring Pharmaceuticals Inc., Fidia Farmaceutici SpA, Sanofi SA and Seikagaku Corp.
London, 15 October 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Hyaluronic Acid Market 2014-2018. The shift in consumer preference for premium priced single-injection cycle HA products over low-priced five-injection cycle HA products owing to the shorter treatment regimen is the major positive trend being witnessed in this market. The market is expected to grow at a CAGR of 9.14 percent during the forecast period of 2013-2018.
HA is a naturally occurring non-sulfated glycosaminoglycan, which is present in the human body in the joints, eye cavity, and internal defense systems. It functions as a nutrient carrier in the human body as well as helping the tissues to retain water. It is an integral part of the extracellular matrix and is found in the coverings around chondrocytes. HA is produced commercially by various processes including extraction from animal tissues, bacterial production, and in-vitro production. Its major medical applications are viscosupplementation for the treatment of osteoarthritis, ophthalmic, VUR, and as dermal fillers. It is commercially available in the form of single-injection cycle HA products, three-injection cycle HA products, and five-injection cycle HA products.
“The major vendors in the market such as Allergan, Sanofi, and Seikagaku have started emphasizing on new product developments and have increased their R&D spending in this regard,” says Faisal Ghaus, Vice President of TechNavio Research.
“Companies are focusing on advanced HA product offerings and increasing awareness about their products to gain a competitive edge.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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