Market players are investing in innovative technology for product development, ensuing in higher quality fillers which are simpler to use as well as increased satisfaction for patients.
The global dermal fillers market is anticipated to record a healthy CAGR throughout the forecast period, 2019 to 2029. The growth can be primarily attributed to growing efficiency of dermal fillers as well as rising awareness about the treatments in developing and developed countries.
“Launch of dermal fillers and new product approvals together with growing demand for minimal invasive aesthetic procedures providing increased permanence as well as safety profiles are fueling growth of the global dermal fillers market.” says an FMI analyst.
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Key Highlights
North America maintains its dominant position in the global market, however APAC to foresee fastest growth during 2019-2029.
Hyaluronic acid stays majorly preferred ingredient, accounting for more than 90% of the overall market share.
Absorbable dermal fillers will remain lucrative throughout the forecast period.
Retail pharmacies will be accounting for 50% of the overall market revenue share due to supply and availability of comprehensive range of dermal fillers.
Drivers
Increasing aging population all over the world and booming beauty industry is positively impacting the market growth.
Driven by incessant advancements and innovations, millennials find dermal filler treatment appealing, thus fueling demand for dermal fillers.
Escalating non-invasive aesthetic surgeries and increasing inclination of aesthetic surgeons stays key factors accountable for upsurge in demand.
Restraints
Concerns among customers about side effects associated with HA fillers might limit the usage in the global market.
Strict regulations for the usage of dermal filler can constrain the market prospects.
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COVID-19 Impact on the Market
The emergence of COVID-19 has brought the dermal fillers market to a standstill. The buying power of customers have been impacted due to rising unemployment amid the COVID-19 outbreak. Therefore, customers will be more discerning about cosmetic and beauty procedures owing to decreased buying power due to financial and personal losses is projected to limit the growth of the market amid the forecast period.
Competitive Landscape
Market players in the dermal fillers market are majorly engaged in investing bio-remodeling innovation with no added chemicals due to strict government regulations. Key players operating in the global market are Sinclair Pharma plc., Galderma Pharma S.A, Zimmer Biomet Holdings, Anika Therapeutics Inc., Allergan plc., Merz Pharma GmbH & Co. KGaA, Teoxane Laboratories Inc., Suneva Medical Inc., Prollenium Medical Technologies Inc., Laboratoires Vivacy SAS, Adoderm GmbH, and Fidia Pharma USA Inc.
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About the Study
The study offers readers a comprehensive assessment of the dermal fillers market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (absorbable, non-absorbable), by ingredient (hyaluronic acid, poly-L-lactic acid, calcium hydroxyl apatite, polymethyl methacrylate, collagen), application (aesthetic restoration, dentistry and reconstructive surgery), distribution channel (retail pharmacies and drug stores, clinic and hospital pharmacies, online pharmacies), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
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