Dermal Fillers Market Outlook
The dermal fillers market has been witnessing continuous growth over the past few years. The strong consumer preferences to achieve a youthful appearance and look by reconstructing contour deformities in the face is a major driving force behind the growth of the market. People are increasingly becoming conscious about their looks, and the dynamics of beauty are changing rapidly.
Also, factors such as the influence of fashion, media & entertainment industry, and peer pressure for appearance & beauty encourage the adoption of dermal filling procedures. Looking at the growth in the dermal fillers market share, Market Research Future (MRFR) asserts that the global dermal fillers market size is poised to increase to USD 6,899.16 MN by 2025. In its recently published dermal fillers market report, MRFR also states that the market would register around 13.2% CAGR throughout the review period (2016 – 2022).
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Also, the rapidly dropping dermal fillers cost and prices of dermal filler ingredients & lip fillers are substantiating the growth of the market. Owing to their non-invasive nature, dermal filling procedures are garnering massive popularity worldwide, which drives the dermal fillers market growth excellently. With the advances in medical science & technology, dermal fillers have evolved greatly, offering more than just supplements that increase facial volume and reduce wrinkles & folds.
There has been a significant rise in the number of treatments performed across the globe each year. Subsequently, once considered as a part of the cosmetic surgery, dermal fillers treatments have now emerged as mainstream procedures. Rising demand for dermal fillers treatments alongside the developments in the facial rejuvenation industry fosters the market growth largely.
Additionally, factors such as the growing aging population and rapid urbanization are substantiating the market growth. Also, rapid increase in the global economy is impacting the market growth positively. Furthermore, the growing prevalence of obesity & accidents, alongside the increasing numbers of facilities & centers offering dermal fillers procedures and the safety margin, are the major tailwinds pushing the growth of the market.
Global Dermal Fillers Market – Segmentations
The analysis has been segmented into three major dynamics.
By Type: Hyaluronic Acid, Polymers & Particles, Collagen, and others.
By Application: Lip Treatments, Face-Lift, Facial Line Correction Treatment, and others.
By Regions: Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Based on the application, Dermal Fillers Market is being segmented into lip treatments, face-lift, facial line correction treatment, and others. Dermal fillers can rejuvenate and restore a more youthful appearance by reconstructing contour deformities in the face. Dermal fillers can plump thin lips, increase shallow contours, and soften facial creases & wrinkles.
According to the data published by American Society of Plastic Surgeons (ASPS), lip treatments continue to be the gold standard in body shaping because of its versatility, efficiency, and effectiveness. Among other dermal fillers, applications, nose, and eyelid reshaping procedures have increased slightly over the last couple of years. Since the dermal filling is a non-surgical treatment, patients are now choosing among more options than ever before, particularly with nose and eyelid reshaping improvement.
Global Dermal Fillers Market – Regional Analysis
North America holds the largest share in the global dermal fillers market. The market growth attributes to the high per capita expenses on healthcare & wellness and advances in medical science. Besides, factors such as the augmenting demand for cosmetic products, growing geriatric population, launches of new minimally invasive facial procedures, and rising clinical trials to innovate skincare products are substantiating the regional market growth.
US accounts for the largest market in the dermal filler market in North America. The uptake of dermal fillers procedure and spending in the field in the US is quite high, which support market growth. The North American dermal fillers market is expected to create a substantial revenue pocket over the assessment period, witnessing substantial investments in R&D activities and technologically advanced products.
Europe stands the second leading position in the global dermal fillers market. Rising per capita income is a key driving force behind the success of this market. Additionally, the increasing acceptance of new aesthetic products & procedures and the demand for minimally invasive cosmetic procedures drive the growth of the regional market, excellently.
Also, growing government support for promoting the use of minimally invasive dermal procedures, increasing numbers of product approvals, and the availability of products across the region boost the market growth in the region. Countries such as Germany & France drive the growth of the regional market to an extent. The European dermal fillers market is estimated for exponential growth over the review period, heading with the huge uptake of new products & advanced therapies.
The Asia Pacific dermal fillers market has emerged as a promising market owing to the spreading awareness towards these aesthetic treatments and improving economic conditions that are improving the quality of life of people. Besides, increasing geriatric population, rising per capita disposable income, augmenting demand for facial aesthetics products, and growing awareness about non-invasive cosmetic procedures available in the market foster the regional market growth.
APAC countries such as India, China, and Southeast Asian countries such as Vietnam, Malaysia, and Thailand, backed by are the major growth contributors to the regional market. The APAC dermal fillers market is projected to witness a spurting growth over the next six years.
Dermal Fillers Market – Competitive Landscape
Highly competitive, the dermal fillers market appears to be diversified due to the presence of many players. Competing for a substantial market share, these players tap the growing markets for expansions. Innovation, mergers & acquisitions, collaboration, and brand reinforcement remain the key trends for leading players.
Rising cases of side effects or resistance are encouraging the players to focus on advanced products and procedures that can leverage minimal adverse effects. Simultaneously, growth opportunities in the market are encouraging these players to target emerging applications.
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Players driving the dermal fillers market include Allergan (Ireland), Galderma Laboratories, LP (Switzerland), Merz Pharma (Germany), Sinclair Pharma (UK), Dr. Korman Laboratories (Israel), Teoxane Laboratories (Switzerland), SciVision Biotech Inc. (Taiwan), Suneva Medical (US), and Medytox (South Korea), among others.
January 08, 2020 —- AbbVie Inc. (the US), a publicly-traded biopharmaceutical company, announced the launch of a new global business – Allergan Aesthetics, onset of the completion of its acquisition of Irish-domiciled pharmaceutical company – Allergan plc. By the first quarter of 2020. Allergan Aesthetics would operate as a new global dedicated business with its own research & development function under the AbbVie umbrella, including aesthetic products, BOTOX Cosmetic, the JUVEDERM collection of dermal fillers, and COOLSCULPTING body contouring.
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