Acumen Research and Consulting, a global provider of market research studies, has recently published a report titled “Hyaluronic Acid Dermal Filler Market (By Product: Single-phase, Duplex product; By Application: Wrinkle removal, Lip augmentation, Rhinoplasty, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 – 2026” offers detailed insights on the Hyaluronic Acid Dermal Filler Market entailing insights on its different market segments.
The global hyaluronic acid dermal filler market is anticipated to reach USD 6.06 billion by 2026. The market is expected to register a growth of 8.35% CAGR during the forecast period. This global growth can be attributable to growing awareness and importance of quality of life and overall health among the population worldwide. Additionally, scientific developments and technical innovations in the industry are likely to encourage market growth further. In 2016, as per the International Society of Plastic Surgery (ISAPS), hyaluronic acid-based dermal filler measures were the second-most preferred injectable procedures across the globe.
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Market Dynamics
Rising disposable income and the strong influence of social media are the key factors encouraging the global hyaluronic acid dermal filler market growth. Moreover, technological advancements resulting in reduced procedure and recovery time are likely to augment the demand over the forecast period. This global growth can be attributable to growing awareness and importance of quality of life and overall health among the population worldwide. Additionally, scientific developments and technical innovations in the industry are likely to encourage market growth further. The changing customers’ preferences are encouraging global players to develop user friendly products with best experience for the users to cater best to the market. Also, Increasing R&D investments coupled with technological advancements to commercialize highly efficient products are anticipated to offer lucrative opportunities for industry participants.
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Market Segmentation
The global hyaluronic acid dermal filler product market is segmented as single-phase and duplex product. The application market is bifurcated as wrinkle removal, lip augmentation, rhinoplasty and others. The hyaluronic acid dermal fillers are frequently used for aesthetic procedures, such as reducing eye wrinkles, dark circles, scars, and improving nasolabial folds. Hyaluronic acid injections are characterized by ease of usage, relatively less expensive and comparatively highly effective. These coupled factors are expected to drive the growth of the global hyaluronic acid fillers market during the forecast period. Increasing popularity and awareness of aesthetic measures for cosmetic makeover along with the easy availability of hyaluronic acid-based synthetic products which are FDA-approved, such as Juvederm, Perlane, Hylaform Plus, and Restylane, are also expected to drive the market growth during the forecast period.
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Regional Analysis
Among the regions, the North America hyaluronic acid dermal filler market holds greater market share on account of higher number of minimally invasive cosmetic surgeries performed in the region. Asia Pacific hyaluronic acid dermal filler market is expected to witness greater CAGR during the forecast period, due to growing awareness about applications of minimally invasive techniques in emerging economies, such as China, and increasing disposable income levels. The global players are continuously investing in R&D activities and innovating to have an updated product portfolio to attract more and more business opportunity from an emerging nation such as that in Asia Pacific countries.
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