Facial Rejuvenation Market Research focuses on the key trends prevailing in the Global Facial Rejuvenation Industry sector. The existing Industry scenario has been studied and future projections with respect to the sector have also been investigated. Market study report comprises evaluation of numerous influential factors including industry overview in terms of historic and present situation, key manufacturers, product/service application and types, key regions and marketplaces, forecast estimation for global market share, revenue and CAGR.
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Facial Rejuvenation Market – Insights
Facial rejuvenation is a combination of cosmetic procedures that are used to restore youthful appearance to the human face. The goal of any facial rejuvenation procedure is to restore youthful skin to the face. While the procedure may seem expensive, it’s a great way to make appearance more beautiful and fresh. It is used for the treatment of various skin disorder such as static wrinkles, dynamic wrinkles, vascular conditions, freckles, scars and wounds, and pigmentation.
The global facial rejuvenation market is estimated to account for US$ 35,518.9 Mn in terms of value by the end of 2027.
Global Facial Rejuvenation Market: Drivers
Early onset of ageing and increasing middle-age population is propeling growth of the global facial rejuvenation market over the forecast period. For instance, according to the World Health Organization (WHO), worldwide geriatric population is expected to reach 2 billion by 2050 compared to 900 million in 2015.
Rapid adoption of advanced facial rejuvenation products and growing number of non-surgical aesthetic procedures is again expected to boost growth of the market. For instance, InMode MD Ltd. is conducting clinical trial for energy-based lower eyelid rejuvenation using its InMode AccuTite. The study is expected to be completed in 2021.
North America region held dominant position in the global facial rejuvenation market in 2018, accounting for 39.4% share in terms of volume, followed by Europe.
Global Facial Rejuvenation Market: Restraints
High cost of procedures is expected to hinder growth of the global facial rejuvenation market. The cost of a single ablative laser procedure may be around US$ 2,100 and other facial rejuvenation procedures or treatments could carry a price tag, which is over 50% more compared to normal facial or beauty treatments.
Moreover, unavailability of reimbursement options for minimally invasive treatments and procedures is also expected to hamper growth of the market.
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Market Opportunities
Growing demand for prescription drugs instead of over-the-counter cosmetic products for facial rejuvenation treatments and procedures is projected to provide lucrative growth opportunities for market players.
The demand for botulinum neurotoxin type-A for reducing wrinkles in the upper-third portion of the face (triangle region) is high. However, there are a few major suppliers of botulinum products, which leads to preferential pricing of the product. Therefore, key players in the market can focus on manufacturing botulinum products to overcome its scarcity.
Topical Rejuvenation products segment in the global facial rejuvenation market was valued at US$ 1,927.2 Mn in 2018 and is expected to reach US$ 2,467.6 Mn by 2027 at a CAGR of 2.5% during the forecast period.
Market Trends/Key Takeaways
There is a high demand for LED therapy for the treatment of dry and dull skin. Dermalux LED Phototherapy is a non-invasive hand and facial treatment that utilizes narrow band, non-thermal LED light energy to increase body’s natural cell processes to accelerate rejuvenation and repair of the skin.
Key players are focused on integrating various therapies for use in facial rejuvenation. For instance, Venus Versa (Venus Concept) is a multi-treatment system that includes Intense Pulsed Light (IPL), radiofrequency (RF) with microneedling and bulk heating capabilities.
Regulations
In the U.S., facial rejuvenation products may be classified as “drugs”, “cosmetics”, or “devices”, where the product has to pass through approval process of the required category. Sun protection creams, make-up and hair removal creams may be classified as OTC drugs and moisturizers as cosmetics. Dermal fillers are classified as medical devices and botulinum type-A injections are classified as prescription drugs with different registration and labelling requirements.
Definitions and Category
- Cosmetics – Under FD&C Act, sec. 201(i), a cosmetic is used for cleansing, beautifying, promoting attractiveness, or altering the appearance
- Moisturizers, face creams
- Drugs – Under FD&C Act, sec. 201(g)(1), a drug is used for diagnosis, cure, mitigation, treatment, or prevention of disease in humans
- OTC – sunscreens, anti-wrinkle creams, acne medications
- Prescription – Botulinum toxin type-A products
- Medical devices –
- Dermal Fillers, Lasers, Ultrasounds
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Global Facial Rejuvenation Market: Competitive Landscape
Major players operating in the global facial rejuvenation market include, Merz Pharma, Anika Therapeutics, Inc., Lumenis, Galderma, Allergan (Actavis), Contura Ltd., Fibrocell Science, Inc., and Revance Therapeutics.
Global Facial Rejuvenation Market: Key Developments
Key players in the market are focused on establishing subsidiaries to expand their geographical presence. For instance, in October 2019, InMode Ltd. completed the establishment of two new subsidiaries in Asia Pacific – InMode India and InMode Australia.
In December 2019, Daewoong Pharmaceutical, a pharmaceutical company based in South Korea, received approval for its botulinum toxin product, Nabota, from The Ministry of Health in the UAE and Indonesia’s Badan Pengawas Obat dan Makanan
𝐀𝐛𝐨𝐮𝐭 𝐂𝐨𝐡𝐞𝐫𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
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