COVID-19 Drives Dermal Filler Market Size 2020, Global Industry Analysis, Opportunities, Outlook, Growth Prospects, Top Companies, Future Trends
Dermal Fillers Market: Information by Type (hyaluronic acid, Polymers & particles, Calcium hydroxylapatite, and Collagen) by Brand (Juvederm, Radiesse and Restylane), by Application (Facial Line Correction Treatment, Face-Lift, and Lip Treatments)
Pune, India – June 4, 2020 /MarketersMedia/ —
Dermal fillers or wrinkle fillers are solutions injected into the skin. Its effects can last from six months to two years. Efforts are being made to prolong its effects and revolutionize anti-aging. The global dermal filler market report by Market Research Future (MRFR) makes projections and estimates for the period of 2019 to 2025 (forecast period). It analyzes different segments and sub-segments and studies the penetration of these products at country levels.
Dermal Fillers Market Scope
The global dermal filler market can reach a valuation of USD 6,899.16 million by 2025. It is predicted to expand at a CAGR of 13.2% over the forecast period.
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Major factors driving market growth include preference of non-invasive surgeries, economically affordable alternatives to cosmetic surgeries, and a large number of plastic surgeons offering cosmetic surgery. Rise in per capita income of customers can act as a catalyst for more demand in the market. The demand for facial aesthetic services and anti-aging treatments can fuel the market growth. According to the International Society of Aesthetic Plastic Surgery in 2018, the large number of non-cosmetic surgical procedures reached 3,729,833 globally.
The outbreak of the COVID-19 pandemic has led to a sharp decline in demand and revenue and it is touted to recover by 2022. According to a report by Hamilton Fraser in conjunction with the National Health Service, an agency in the U.K. government, close to 80% of the clinics were closed during the lockdown bringing down revenue inflow.
Adverse effects of dermal fillers and the alarming numbers of unregistered surgeons performing cosmetic surgery can threaten market growth.
Covid-19 Impact Analysis of the Global Dermal Fillers Market
Dermal fillers are widely used in minimally invasive procedures as an anti-aging solution to reduce facial lines and restore facial firmness. Dermal fillers are used to enhance shallow contours, remove wrinkles, soften facial creases, and improve the appearance of scars using different types of products. Increasing awareness about the benefits of dermal fillers, in comparison to surgical procedures, is leading to its widespread acceptance among the population of all age groups.
Coronavirus pandemic is affecting the global dermal fillers market. The emergence of novel coronavirus disease (COVID-19) in 2020. As of now it has affected more than 4 million people across the globe and caused as many as 281,736 deaths. Major markets for dermal fillers such as the US, China, Spain, Italy, Germany, France, and the UK are suffering huge economic loss due to the disease.
Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Dermal Fillers Market and demographic challenges, showed how it could move forward in the coming years.
Dermal Fillers Market Segmentation
The global dermal fillers market is segmented by type, brand, and application.
By type, the market has been segmented into collagen, calcium hydroxylapatite, hyaluronic acid, and polymers & particles. By type hyaluronic acid held the largest market value of USD 1,154.96 million in 2018 and is expected to grow at the highest CAGR during the forecasted year.
Based on brand, the market has been segmented into radiesse, juvederm, and restylane.
On the basis of application, the market has been segmented into face-lift, facial line correction treatment, and lip treatments.
Dermal Fillers Market Regional Analysis
Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions taken into consideration with respect to the global dermal filler market.
The Americas held the largest market share in 2018. The regional market can showcase growth owing to the demand for cosmetic products, launch of minimally invasive procedures, clinical trials for new skin care products, and a large geriatric populace. According to the annual plastic surgery procedure statistics, there were close to 17.5 million surgical procedures performed in the U.S. in 2017.
Europe will follow the Americas in the market and be the second-best performing region during the assessment period. Acceptance of aesthetic products, support by government bodies for the use of minimally invasive procedures, and a large number of approvals by federal regulatory bodies.
APAC is expected to display the highest growth rate in the global dermal fillers market due to awareness of non-invasive cosmetic procedures, demand for facial aesthetics, and a large geriatric population. According to the United Nations Population Fund (UNFPA), there would be close to 1.3 billion people in the region above the age of 60.
Lastly, the MEA region can display the lowest growth rate during the forecast period due to limited access to cosmetic treatments. But the emergence of beauty clinics and dedicated units to cosmetics in hospitals in Saudi Arabia can drive the regional market growth.
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Dermal Fillers Market Competition Outlook
Dr. Korman Laboratories, Medytox, Galderma Laboratories, LP, Allergan, Sinclair Pharma, Merz Pharma, Suneva Medical, Teoxane Laboratories, SciVision Biotech Inc., and others are key players of the global dermal filler market.
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NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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