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KMID : 0525720160210010001
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Journal of Chitin and Chitosan
2016 Volume.21 No. 1 p.1 ~ p.5
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The Global Market Trend and Perspectives of Hyaluronic Acid
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Lee Song-Hee
Kwon Tae-Hoon
Lee Joon-Woo
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Abstract
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This study deals with hyaluronic acid market analysis which composed of revenue and demand forecasting. The global market for hyaluronic acid was estimated at US$ 1.69 billions in 2012, and is expected to reach US$ 2.42 billions by 2016. In 2012, the Americas dominated market, where the major contribution was from the US, and this trend is expected to continue during the forecast period. The Americas was followed by the Asia-Pacific region. Nationally the US was the leading hyaluronic acid market with an estimated US$0.78 billion in 2012 and a projected US$1.20 billion by 2015. The Japan represented the second biggest market for hyaluronic acid. Most of hyaluronic acid substances were used as an additive to cosmetics, medical product, or cosmetic filler. The global hyaluronic acid market is driven by the steadily growing aging population and the increasing consumer awareness about hyaluronic acid. In spite of the several drivers, the intense pricing competition among the vendors will considerably lead to a reduction in the price of the hyaluronic acid products. However, because of the presence of several drivers and emerging trends, the future of the global hyaluronic acid market is expected to be promising during the forecast period.
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KEYWORD
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Hyaluronic acid, Market analysis, Health functional food, Cosmetics, Biomedical applications
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