Market Research Future has just added another market concentrate to its broad research portfolio, titled “Dermal Fillers Market Research Report – Forecast to 2023“. The report offers shrewd bits of knowledge and utilizations careful examination of market components to measure advertise size and advancement.
Dermal fillers or injectable are used in different areas of the face and have varying functionalities. The global dermal fillers market appears to be thriving and is likely to expand at a CAGR of 12.5% over the forecast period of 2017-2023, asserts market Research Future (MRFR) in an extensive study. The global dermal fillers market was valued at over USD 4,450 Mn in 2016 and is expected to catapult to USD 10,008.4 Mn by the end of 2023.
With old age, faces tend to naturally lose its subcutaneous fat, causing the facial muscles to work closer to the skin surface. This results into the apparent appearance of small lines and crow’s feet upon the skin, particularly around the neck and the facial area. Add to this, other factors such as exposure to the sun, lifestyle, and heredity are also responsible for affecting the skin. Dermal fillers are aesthetic gel-based treatments used for diminishing such facial lines and restores the volume and fullness of the face. These are injected into the skin and are designed to curb down the appearance of wrinkles and stretch marks, adds volume, and contours the face.
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The probable factors persuading this rise are the influence of media, fashion and film industry peer pressure for appearance and beauty, and changing dynamics of beauty, etc. Nonetheless, this rise has created a full-fledged, exclusive market space for dermal fillers. Once considered as a part of the cosmetic surgery, Dermal Fillers treatments are a mainstream market now. That too a flourishing market, needless to say.
Key Players
The Global Dermal Fillers Market is led by some of the prominent players such as
- Dr. Korman Laboratories (Israel),
- ALLERGAN (Republic of Ireland),
- GALDERMA (Switzerland),
- Merz Pharma (Germany),
- Integra Lifesciences (US),
- Teoxane laboratories (Switzerland), and
- Sinclair Pharma (UK).
Profiling them in its analysis, MRFR finds out their strategies helping them to keep at the forefront of the market competition.
The competitive market of dermal fillers appears to be fragmented with a large number of players forming a competitive landscape. These players strive to curtail the cost of the by introducing efficient treatments. The rising cases of side effects/resistance have paved avenues for new treatment development, giving opportunities to the new entrants.
The highly competitive market of dermal fillers appears to be diversified with the presence of a large number of players having a global presence. These players are adopting strategic initiatives such as expansion, and product Launch to gain the competitive edge and are tapping the growing markets for expansions.
Industry Updates
February 22nd, 2019, Canada MedLaser a top-rated provider of medical aesthetic procedures in Toronto, Canada, has made a compilation of the best total face transformation procedures. The specific treatments aid in targeting the whole face to attain a youthful appearance without the need for surgery. For instance, dark circles are treated with the injection of Dysport Hydraulic Acid, which is approved by the FDA and Health Canada.
In December 2018, Silk Inc. announced the development of a sustainable dermal filler. The company’s new activated silk technology is made from silkworm cocoons and is meant to be a more biocompatible and eco-friendlier as compared to traditional or alternative acid fillers.
Segments for Global Dermal Fillers Market
The market segmentation of dermal fillers is segmented on the basis of applications and types.
By types, the market includes hyaluronic acid, botulinum toxin, collagen, polymers & particles. The polymers & particles segment is further divided into calcium hydroxylapatite, polymethylmethacrylate, and poly-l-lactic acid. The botulinum toxin segment is projected to reach a market valuation of USD 4601.67 million by the end of 2023. The hyaluronic acid segment is also expected to garner an impressive market growth with a CAGR of 12.9% during the forecast period.
By application, the market includes face-lift, facial line correction treatment, lip treatment, and others. The market segment is spearheaded by facial line correction treatment with a significant market share of 44.1% in 2016. However, the face-lift segment is predicted to grow with the highest CAGR of 12.8% during the review period, thereby generating a projected market valuation of USD 3,5907 million by 2023.
Regional Analysis for Global Dermal Fillers Market
Geographically, the Global Dermal Fillers Market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas accounts for the largest share of 39.3% of the global market, led by the US and Mexico. Both these countries are popular destinations for cosmetic tourism. The rapidly aging population in the region coupled with the presence of advanced technologies and skilled cosmetic surgeons drive the market in the Americas. The Americas dermal fillers market is likely to reach USD 3769.6 Mn by the end of 2023.
The Europe market is driven by similar factors as the Americas and is the second largest market for dermal fillers. Advanced healthcare sector and affordability will help the market achieve a CAGR of 12.9% over the forecast period.
APAC is poised to exhibit the fastest CAGR of 13.1% over the forecast period. Massive demand has been witnessed in the emerging economies of the region such as China, South Korea, India, and others. South Korea, in particular, is a significant market for dermal fillers. The country offers sophisticated cosmetic services at an affordable price which makes it a prime destination for cosmetic tourism.
Related Report:
Facial fat transfer Market Information, by Types (Microlipo-injection, Autologous Fat Transfer) by treatment types (fat injections, dermal fillers and others) – Forecast to 2022
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