Dermal Fillers Market Insight
The global dermal fillers market is expected grow at a fast pace owing to an increasing trend of using anti-ageing treatments, and demand for various devices for dermatology procedures in the market. Rising awareness about skin care and extensive demand for diagnostic and treatment services for skin diseases also influence the growth of the market.
Increasing number of cosmetic surgeries as well as lifestyle changes further accelerate the market growth. There is an increases in the number of facial injectable surgeries performed on women, as their demand is increasing from last few years, thus boosting the development of the market. Around 91% of facial injectable surgeries are performed on women across the globe. Additionally, availability of well qualified and highly skilled healthcare professional such as dermatologist and surgeons increase the demand for dermal fillers and other dermatology devices and appliances in the market.
Technological advancement further determines the development of dermal fillers market as the key players are now engaged in product differentiation strategy, which is important to sustain the company`s growth and strength its geographical presence.
Dermal Fillers Market Drivers & Trends
The elevated demand dermal fillers for a facial aesthetic, which includes face-lift and facial line correction has been one of the primary factors for market growth. These procedures are highly practiced in developed countries that have boosted the market to expand considerably. Intensive efforts in research & development by aesthetic companies has don wonders for the global dermal fillers market growth. They have stood stronger to the growth of the market and are capitalizing the market at a steady pace.
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The boost of the new materials, new techniques, and new filler devices are yet another essential driver to the market growth. Apart from this, the increased acceptance of tissue fillers, across the world, is favoring the market players and enhancing the market position. More positive notions about the growth of the market come in from increased sustainability of dermal fillers owing to the factors such as the expansion of geriatric population, rising disposable income and improved procedure quality and have paved ways for more new techniques to come in the future.
Furthermore, advances in surgical technology have also made such procedure safer and effective than ever before that has to bring fortune to the market position in the current years.
On the flip side, factors such as non-assurance of zero side-effects remain to be a key area of concern, and high cost of surgery and regulatory norms can also pose as formidable challenges for the market growth in the forecast period.
Dermal Fillers Market Detailed Regional Outlook
The global dermal fillers market study has covered across key regions like North America, Latin America, the Middle East & Africa (MEA) Europe and the Asia Pacific (APAC).
Among them, the Americas region is expected to remain a lucrative market for dermal fillers throughout the assessment period. In 2016, North America and Latin America communally captured more than one-third share of the market. Americas is then followed by Europe with the demand for facial aesthetics, as it is high in many of the European countries. This makes the region an important market for dermal fillers.
Europe’s region for dermal fillers market is likely to observe a double-digit CAGR during the forecast period. Asia Pacific’s market of dermal filler is also to witness the highest CAGR during the assessment period due to factors such as rising per-capita income, amplified acceptance of cosmetic procedures in countries of Asia Pacific and availability of more options of facial injectables.
Dermal Fillers Market Segmentation
MRFR’s report includes a comprehensive segmental analysis of dermal fillers market based on types and application.
In terms of types: It includes botulinum toxin, hyaluronic acid, polymers & particles, and collagen. Among these, the botulinum toxin segment is probable to remain the most profitable segment with the expectation to reach a valuation of more than US$ 4600 by 2023-end. Whereas, the hyaluronic acid segment is anticipated to record the fastest growth rate during the assessment period.
In terms of application: It includes lip treatments, facial line correction treatment, face-lift, and MANY more. The facial line correction treatment segment, in 2016 has recorded to gain the largest market share and now was likely to reach a valuation more than US$ 4300 Mn by the year 2023. The face-lift segment is also likely to remain highly attractive since 2018 and beyond by having a vigorous CAGR of 12.8% from 2017 to 2023.
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Dermal Fillers Market Key Players
ALLERGAN, GALDERMA, Dr. Korman Laboratories, Integra Lifesciences, Merz Pharma, Sinclair Pharma, and Teoxane Laboratories are some of the top listed market players contributing to the global dermal fillers market remarkably.