Transparency Market Research has published a new report on the global collagen and HA-based biomaterials market for the forecast period of 2019–2027.
Transparency Market Research (TMR) has published a new report on the global collagen and HA-based biomaterials market for the forecast period of 2019–2027. According to the report, the global collagen and HA-based biomaterials market was valued at ~US$ 6 Bn in 2018 and is projected to expand at a CAGR of ~5% from 2019 to 2027.
Rise in Cosmetic Procedures to Drive Collagen and HA-based Biomaterials Market
- Increase in focus on aesthetics is expected to surge the number of cosmetic procedures across the globe.
- Cosmetic procedures such as facelift, facial & body contouring, dermal fillers, liposuction, and skin tightening are gaining popularity among adults and the elderly population in order to improve their facial appearance and its functions.
- According to research findings of the International Society of Aesthetic Plastic Surgery (ISAPS), in 2017, approximately 11 million surgical cosmetic procedures were performed globally.
- Collagen and hyaluronic acid and its composite potassium and sodium salts are active ingredients in several protective, anti-aging, and moisturizing products.
- Collagen and HA are formulated in different cosmetic preparations such as neck, eye, and skincare. Additionally, HA injections/dermal fillers are treatment options to cure age-related changes in skin quality and appearance.
- According to the International Society of Aesthetic Plastic Surgery (ISAPS), approximately 3.3 million hyaluronic acid dermal filler procedures were performed globally in 2017, which is anticipated to drive the global collagen and HA-based biomaterials market.
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Facial Aesthetic Dermal Fillers to Dominate Collagen and HA-based Biomaterials Market
In terms of type, the global collagen and HA-based biomaterials market has been segmented into urinary incontinence, corneal shields, facial aesthetic dermal fillers, wound dressings, and others. The facial aesthetic dermal fillers segment accounted for a major share of the collagen and HA-based biomaterials market in 2018. The segment is expected to dominate the global collagen and HA-based biomaterials market from 2019 to 2027.
Increase in the adoption of hyaluronic acid dermal filler procedures in developed regions for the treatment of wrinkles and scars, and surge in the demand for dermal fillers as an anti–aging agent and tissue regeneration are expected to propel the facial aesthetic dermal fillers segment.
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High Demand for Cosmetic Procedures
In terms of application, the global collagen and HA-based biomaterials market has been categorized into food, medicine, cosmetics, and others. The cosmetics segment accounted for a major share of the collagen and HA-based biomaterials market in 2018.
Growth of the segment can be attributed to the increasing demand for cosmetic procedures such as hyaluronic acid-based dermal filler injections to improve facial esthetic appearance.
Dermal fillers with hyaluronic acid are widely adopted in cosmetic clinics for the treatment of wrinkles, nasolabial folds, and scars. Hyaluronic acid provides moisture to the skin, and adds volume and elasticity, giving a smooth appearance to the skin.
Hyaluronic acid injections also boost the skin’s own production of collagen. These factors are anticipated to drive the growth of the segment in the near future.
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Growth Strategies of Key Players
Key players operating in the global collagen and HA-based biomaterials market are Collagen Solutions Plc, Galderma Laboratories L.P. (Nestle Skin Health), Anika Therapeutics, Inc., Allergan plc, Johnson & Johnson Services, Inc., Bausch Health Companies Inc., Sanofi, Abbott Laboratories, and BioCell Technology LLC.
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These companies are engaged in purchase and distribution agreements, and new product development strategies to expand their product portfolio and geographic presence. For instance, in January 2019, Collagen Solutions Plc entered into a new license agreement with Indonesia-based company Rajawali Medika for the launch and distribution of ChondroMimetic in Indonesia, with the potential to expand to several other countries in Southeast Asia.
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