Hyaluronic acid is an ingredient which is naturally present in the human body. Hyaluronic acid (HA) is a glycosaminoglycan (GAG), which is an element that attaches to collagen and elastin to form cartilage. It is found in the eyes and joints as the highest concentrations in fluids. The hyaluronic acid is also used as medicine that is extracted from rooster combs or made by bacteria in the laboratory. Hyaluronic acid is also used in plastic surgery as a lip filler. The FDA has permitted the usage of hyaluronic acid in some eye surgeries like cataract removal, corneal transplantation and other eye injuries.This growth is primarily driven by Growing Popularity of Cosmetic Surgeries.
Globally, a noticeable market trend is evident Increasing Implementation of Aesthetic Procedures. Major Players, such as F. Hoffmann-La Roche Ltd. (Switzerland), Seikagaku Corp. (Japan), Galderma S.A. (Switzerland), Sanofi (France), Anika Therapeutics, Inc. (United States), Salix Pharmaceuticals (United States), Zimmer Holdings, Inc. (United States), Allergan, Inc. (Ireland), Ferring Pharmaceuticals, Inc. (Switzerland), Smith & Nephew Plc (United Kingdom) and Bohus BioTech (Sweden) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On June 11, 2019- Smith & Nephew plc, the global medical technology business, today announces that it has agreed to acquire Atracsys SÓrl, the Switzerland-based provider of optical tracking technology used in computer-assisted surgery.
FDA encouraged sponsors of HA products to first obtain a classification and jurisdictional determination via a pre- or request for designation (RFD) prior to a premarket approval application (PMA) or a PMA supplement for a change in indications for use, formulation or route of administration. Sponsors may provide evidence in support of their products meeting the medical device definition in a pre-RFD or RFD.
- Growing Popularity of Cosmetic Surgeries
- Increasing Implementation of Aesthetic Procedures
- High Price of Hyaluronic Acid Products
Rising Focus on Development of New Product
Side-Effects after Undergoing Hyaluronic Acid Treatment
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