Dermal Fillers Market Observed to Impressive Growth 12.5% CAGR with Size, Share, Demand, Growth Insights, Foreseen to 2023
The Dermal Fillers Market report investigates vital information that assists Industry professionals, analysts and business decision makers to choose their business policies and attain a preferred business objective.
Pune, India – August 7, 2019 /MarketersMedia/ —
Dermal fillers are materials used in different facial areas as fillers and have various functionalities. The Global Dermal Fillers Market has been currently valued at USD 4,900 million by Market Research Future (MRFR) in its latest report. The same report also suggests that the global dermal fillers market is anticipated to showcase a CAGR of 12.5% through the review period. There are many factors causative to the growth of the global dermal fillers market.
Some of these factors include the growing demand for facial aesthetics. With the proliferation in demand for face lift and facial line corrections in various countries such as India, China, Brazil, and Japan, the global dermal fillers market is projected to witness an exponential boost over the forecast period. Meanwhile, many aesthetic companies continue to post strong growth in the U.S. and Europe. The dermal fillers industry is also expected to evolve at a high rate with the introduction of new materials, new injection techniques, as well as, new filler devices. Such introduction of diverse advancements has allowed the facilitation of highly complex procedures. Further, an increasing acceptance towards the tissue fillers across the globe pushed the global dermal fillers market to new heights.
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The growth of the Global Dermal Fillers Market can also be attributed to the improving clinical outcomes. The dermal fillers market is evolving continually, and advancement in injection techniques, devices, and the inclusion of new materials have reflected positively on the growth of the market.
Growing cosmetic tourism is likely to influence the growth of the global dermal fillers market. Consumers are traveling to places which offer sophisticated cosmetic procedures at legitimate prices which induce high demand for dermal fillers. However, augmenting requirement for dermal fillers has also given rise to a black market. A growing number of unlicensed practitioners result in a number of faulty surgical procedures which not only evoke hesitance among consumers but also restrain the growth of the market over the forecast period.
Key Players
Dr. Korman Laboratories, ALLERGAN, Teoxane Laboratories, GALDERMA, Merz Pharma, Integra Lifesciences, and Sinclair Pharma are the eminent players in the global dermal fillers market.
The highly competitive market of dermal fillers appears to be diversified with the presence of a large number of players having a global presence. These players are adopting strategic initiatives such as expansion, and product Launch to gain the competitive edge and are tapping the growing markets for expansions.
Leverage to the rising cases of side effects or resistance, players are focusing on innovative products and procedures that would have minimal adverse effects. Also, growth opportunities in the market are encouraging these players to target emerging applications.
Industry Updates
April 2019: The British government to launch a campaign to reduced botched plastic surgeries by urging patients to avoid using cowboy or home procedures. The Department of Health and Social Care will try and educate people about the dangers of home procedures.
February 22nd, 2019, Canada MedLaser a top-rated provider of medical aesthetic procedures in Toronto, Canada, has made a compilation of the best total face transformation procedures. The specific treatments aid in targeting the whole face to attain a youthful appearance without the need for surgery. For instance, dark circles are treated with the injection of Dysport Hydraulic Acid, which is approved by the FDA and Health Canada.
Segments
The market segmentation of dermal fillers is segmented on the basis of applications and types.
By types, the market includes hyaluronic acid, botulinum toxin, collagen, polymers & particles. The polymers & particles segment is further divided into calcium hydroxylapatite, polymethylmethacrylate, and poly-l-lactic acid. The botulinum toxin segment is projected to reach a market valuation of USD 4601.67 million by the end of 2023. The hyaluronic acid segment is also expected to garner an impressive market growth with a CAGR of 12.9% during the forecast period.
By application, the market includes face-lift, facial line correction treatment, lip treatment, and others. The market segment is spearheaded by facial line correction treatment with a significant market share of 44.1% in 2016. However, the face-lift segment is predicted to grow with the highest CAGR of 12.8% during the review period, thereby generating a projected market valuation of USD 3,5907 million by 2023.
Regional Analysis
Geographically, the global dermal fillers market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas accounts for the largest share of 39.3% of the global market, led by the US and Mexico. Both these countries are popular destinations for cosmetic tourism. The rapidly aging population in the region coupled with the presence of advanced technologies and skilled cosmetic surgeons drive the market in the Americas. The Americas dermal fillers market is likely to reach USD 3769.6 Mn by the end of 2023.
The Europe market is driven by similar factors as the Americas and is the second largest market for dermal fillers. Advanced healthcare sector and affordability will help the market achieve a CAGR of 12.9% over the forecast period.
APAC is poised to exhibit the fastest CAGR of 13.1% over the forecast period. Massive demand has been witnessed in the emerging economies of the region such as China, South Korea, India, and others. South Korea, in particular, is a significant market for dermal fillers. The country offers sophisticated cosmetic services at an affordable price which makes it a prime destination for cosmetic tourism.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
TOC Continued…
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