Global Hyaluronic Acid Market – Sustaining the Gold Standard for Injectable Cosmetics
Before all foregoing, when it comes to the skin which comes under the purview of personal care as well as healthcare it is relevant to note that the generic herd mentality of the bygone era has been supplanted by presently dominating individualistic value-driven rational. Further, this particular proclivity is across all age group and no one wishes to be left out when it comes to the need for looking good through the means of reconstruction or bioengineering of facial features as well for facial rejuvenation to remedy wrinkles brought about because of loss of subcutaneous fat over the face which is a common occurrence by individuals as they age. Thus, these factors, among others are responsible for facilitating a healthy growth of the global hyaluronic acid market which has been forecasted to reach unprecedented heights during the forecast period after growing at a healthy CAGR from a market value of USD8.280 billion in 2019 estimated for 2019.
Hyaluronic acid (HA) which before being christened with its modern name hyaluronan found its first mention in the Journal of Biological Chemistry in 1934 by John Palmer and Karl Meyer who wrote about a strange polysaccharide that was characterized by remarkably high molecular weight isolated from the vitreous of bovine eyes. They were the first to name the above hyaluronic acid derived from hyaloid which means “glassy glass-like in appearance” and uronic acid. While the aforementioned individuals have received a fair amount of credit to have discovered hyaluronic acid, however back in 1918, a new polysaccharide from the vitreous body and cord blood was reportedly isolated by Levene and Lopez-Suarez which they called mucoitin-sulfuric acid which reportedly comprised glucuronic acid, glucosamine, and trace amounts of sulfate ions. This substance was later understood d be hyaluronic acid that was extracted together with a mixture of sulfated glycosaminoglycans. Later in 1937 hyaluronan was successfully isolated from the capsules of streptococci groups A and C by F. Kendal which had a significant practical and scientific importance associated with it because presently streptococci groups are the most economical and reliable source for the industrial production of hyaluronic acid. HA was found to possess clinical applications, only during the 2nd half of the 20th century, mostly for eye surgery, treatment of joint diseases, and aesthetic medicine. Nevertheless, the first actual use of HA in medicinal practice didn’t occur until 1943 during the Second World War. Later after several discovered uses. In 1970, HA was injected into the joints of racehorses that suffered from arthritis for the first time which had resulted in an observable clear and clear and positive outcome.
Thereafter a few years later R. Miller reportedly commenced using HA in implanted intraocular lenses. Since then HA has been acknowledged as one of the most important components in ophthalmology has found an extremely wide application in aesthetic medicine. Currently, HA is an integral part of products and is considered as ‘gold standard’ for injectable cosmetics. Additionally, to provide perspective on the later it is important to note that the facial injectable market is forecasted to grow at a CAGR of 14.22% by Knowledge Sourcing Intelligence, from the market value of US$9.780 billion estimated for 2019 to reach a market value of US$21.727 billion by 2025, which is partly expected to contribute to the global hyaluronic acid market growth during the forecast period.
Thus with such advancements, the healthcare industry is awash with a variety of treatments and among those pertaining to injectable cosmetics, the ascending rate of availing dermal filler procedure around the world is expected to reinforce the forecasted growth of the global hyaluronic acid market and is also poised to hold a substantial share in the market. For instance, in August 2020 it was reported that Revance Therapeutics, Inc. (NASDAQ: RVNC) which is essentially a biotechnology company which is focused on innovative aesthetic and therapeutic offerings that are inclusive of but not limited to neuromodulator product, DaxibotulinumtoxinA for Injection had announced that the organization has operationalized the aspects that would facilitate in the introduction of its prestige aesthetics portfolio that comprise the RHA® Collection of dermal fillers, HintMD financial technology platform and the resilient hyaluronic acid in the USA during September the same year.
The RHA® Collection is reportedly the latest advancement in HA filler science and is designed with a crosslinking method that is known to preserve the hyaluronic acid network to more accurately emulate the HA that naturally occurs in the skin. Besides earlier this year Galderma which is known to be the world's largest independent global dermatology company that operates in over 100 countries with a comprehensive product portfolio of aesthetic solutions, consumer care products, and prescription medicines, had reportedly announced that Restylane® Kysse which is reportedly the first hyaluronic acid (HA) filler which is specifically intended for lip augmentation and the correction of upper perioral rhytids (wrinkles around upper lips) in adults over the age of 21 years employing XpresHAn Technology™ which is globally referred to as OBT technology or Optimal Balance Technology has been approved by the U.S. Food and Drug Administration (FDA). The product is reported to extend high levels of patient satisfaction to people with lips that have altered due to aging and/or for those who are inclined to acquire natural-looking, fuller lips. The effects of the product have been reported to last up to one year.
Over 80 years have passed since the discovery of hyaluronan and in the global scientific research field after so many years past a substance’s discovery, research is generally restricted to a reasonably narrow and specialized group of academics. Nevertheless, the interest in this compound is far from diminishing but is anticipated to further grow with estimated investments in R&D followed by new product development.
