The Global Collagen and HA-based Biomaterials Market is Projected to Reach US$5.3 Billion by 2024

Rising Use of Biomaterials in Joint Reconstruction, Wound Healing & Facial Dermal Fillers to Drive Growth in the Collagen and HA-based Biomaterials Market, According to New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Collagen and HA-based Biomaterials market. The global Collagen and HA-based Biomaterials market is projected to reach US$5.3 billion by 2024, driven by the increasing prevalence of orthopedic disorders such as osteoarthritis and growing use of biomaterials in regenerative medicine.

Biomaterials are considered to be one of the most important materials for the pharmaceutical and healthcare industry. Given their role in the repair or replacement of damaged tissues such as cartilage and bone regeneration, biomaterials are finding widespread application in areas such as dental surgery, orthopedic surgery, cardiovascular treatments, cosmetic surgery and tissue regeneration, among others. Collagen and hyaluronic acid (HA)-based biomaterials have high potential applications in areas such as personal healthcare, prosthetics development and regenerative medicine. Growth in the global collagen and HA-based biomaterials is being driven by the expanding population of elderly across the world, rising preference for personal healthcare, and increasing demand for anti-aging therapy. The adoption of collagen and HA-based biomaterials is also being fueled by the increasing incidence of osteoarthritis. Novel breakthroughs in fields such as dermal fillers will contribute to higher growth rates in terms of preference/choice of treatment.

Hyaluronic acid (HA) is found naturally in the human body, with eyes and joints found to have the highest concentrations of HA. Global market for HA-based biomaterials is forecast to register strong growth in the coming years, due chiefly to the growing aging population, increasing incidence of chronic arthritis, and increasing adoption of innovative HA-based products, especially in viscosupplementation as well as facial dermal fillers categories. Collagen’s widespread use is due largely to its characteristics such as easy availability, biodegradability, biocompatibility and versatility. Collagen biomaterials market worldwide is being driven by the increasing prevalence of orthopedic disorders especially due to an aging population. Growth is also being driven by the escalating demand for bone graft substitute and wound healing solutions. Increasing R&D investments also present favorable prospects for the collagen biomaterials market.

As stated by the new market research report on Collagen and HA-based Biomaterials, the United States represents the largest market worldwide. The U.S. and other developed regions in general are experiencing strong growth, due to the rising prevalence of various medical conditions and the growing desire of the elderly to remain active and healthy. Growth is also being fueled by the increasing use of single-injection viscosupplement products and development of advanced technology-based products. Asia-Pacific is forecast to grow at CAGR of 6.7% over the analysis period. The growth will be driven by an expanding elderly population at a high risk of chronic arthritis in high-population countries such as China and India and the gradual increase in demand for tissue regeneration procedures in developing economies. Further, growing demand for anti-aging treatments for improving physical appearance, against the backdrop of rising disposable incomes, is also driving people to invest in advanced technologies.

Major players in the market include Alcon Laboratories Inc., Allergan plc, Anika Therapeutics Inc., Bausch & Lomb Inc., Collagen Solutions Plc, Galderma S.A., Johnson & Johnson Vision Inc., Lifecore Biomedical LLC, Sanofi US, Seikagaku Corporation, and Teijin Pharma Limited, among others.

The research report titled “Collagen and HA-based Biomaterials: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific and Rest of World. The report analyzes the Collagen and HA-based Biomaterials market by the following Product Group/Segment - Collagen Based Biomaterials (Urinary Incontinence Products, Corneal Shields, Facial Aesthetics Dermal Fillers and Wound Dressings) and Hyaluronic Acid Based Biomaterials (Viscosupplements, Viscoelastics and Facial Aesthetics Dermal Fillers).

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