The Global Dermal Fillers Industry is on the brink of a remarkable surge, with projections indicating a value of US$ 7.74 billion by 2023 and a staggering leap to over US$ 15.96 billion by 2033. These insights are unveiled in the latest forecast by Future Market Insights Inc., shedding light on the industry’s upward trajectory with a compelling compound annual growth rate (CAGR) of 7.5%.
Fueling this substantial growth is the escalating demand for minimally invasive cosmetic techniques, particularly the use of dermal fillers. Consumers are increasingly drawn to simpler and less painful treatments that promise a youthful appearance and a healthy visage. This paradigm shift is steering individuals away from invasive cosmetic procedures, which often entail various risks and prolonged recovery periods.
The rise in demand for cosmetic aesthetics stands out as a key catalyst propelling the global dermal fillers market’s expansion. In 2020 alone, the United States witnessed over 13.2 million cosmetic procedures, with 3.4 million opting for soft tissue fillers, as revealed by a comprehensive study.
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Manufacturers of dermal fillers are benefiting from this growth in demand for cosmetic procedures. To meet the rising need for medical aesthetics, several aesthetics-related businesses are introducing more products. These treatments are expected to increase the number of procedures performed as disposable income grows globally, particularly in emerging nations. In addition, the last taboos associated with cosmetic treatments have been greatly diminished by the growing understanding of filler procedures. The adoption of these products is expected to be strongly influenced by such changes in attitudes.
In response to these positive market growth trends, many businesses that produce face injectables have made significant R&D investments. A substantial number of products with notably better aesthetic results have been developed as a result of these R&D efforts. Such product introductions are also expected to significantly contribute to market growth during the forecast period. As a result, increased demand for cosmetic procedures, combined with new product releases with a diverse range of uses, is likely to drive the Global Dermal Fillers Industry growth over the projected period.
Despite the wide range of aesthetic applications, some limiting factors are expected to impede global market growth during the forecast period. The high cost of these products is one of the primary factors restraining market growth.
Key Takeaways from the Global Dermal Fillers Industry:
- The U.S. is expected to be a major contributor to the market, with the country’s total healthcare spending projected to increase at a rate of 4% between 2023 and 2033.
- The market for hyaluronic acid is anticipated to be worth US$ 4,774.1 Mn, growing at a CAGR of 0% during the forecast period.
- Hospitals and clinics are expected to be the most commonly used distribution channels in the market.
- The aesthetic reconstructive application is expected to hold a significant market share due to the widespread use of dermal fillers in cosmetic reconstructive procedures and their long-term effectiveness.
- Brazil and Germany are expected to be key growth markets, driven by factors such as rising lifestyle-related demands, more self-grooming knowledge, a high preference for minimally invasive operations over traditional procedures, and technical developments in the market for minimally invasive dermal fillers.
- The absorbable dermal fillers segment is expected to hold a significant market share during the forecast period.
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What is the Competition Outlook for the Global Dermal Fillers Industry?
The market’s competitive landscape is diversified, with organizations ranging from major, established competitors to small, rising players. The leading players in the market include Allergan, Galderma, Merz Pharma, Sinclair Pharma, and Teoxane. These companies are focusing on research and development activities to launch new products and expand their product portfolio. In addition, they are also focusing on strategic collaborations and partnerships to increase their market share.
Other important players in the market include Suneva Medical, Sculptra Aesthetic, and Belotero Balance. These companies are also focusing on expanding their product portfolio and strengthening their distribution network to increase their market share.
In conclusion, the Global Dermal Fillers Industry is expected to witness significant growth in the coming years, driven by the growing demand for minimally invasive cosmetic techniques. The market is highly competitive, with a large number of players operating in it. The leading players are focusing on research and development activities and strategic collaborations to increase their market share. In addition, the market is expected to witness the entry of new players, further intensifying the competition.
- Arthrosurface, a supplier of joint surface and preservation solutions for an active patient to maintain its dominant position in the aesthetic market, was purchased by Anika Therapeutics in January 2020, and Parcus Medical by Anika Therapeutics in May 2020.
- To influence the direction of the regenerative aesthetics industry and increase the sales of aesthetic products, Suneva Medical struck cooperation agreements with Healeon Medical and Bimini Technologies in January 2019.
Some of the leading companies operating in the Global Dermal Fillers Industry are:
- Galderma Pharma S.A
- Sinclair Pharma plc
- Zimmer Biomet Holdings
- Allergan plc.
- Anika Therapeutics Inc.
- Merz Pharma GmbH & Co. KGaA
- Suneva Medical Inc.
- Teoxane Laboratories Inc.
- Prollenium Medical Technologies Inc.
- Laboratoires Vivacy SAS
- Fidia Pharma USA Inc.
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Global Dermal Fillers Industry Key Segments
Product:
- Absorbable
- Non-Absorbable
Ingredient:
- Hyaluronic Acid
- Poly-L-Lactic Acid
- Calcium Hydroxylapatite
- Polymethyl methacrylate
- Collagen
Application:
- Aesthetic Restoration
- Dentistry
- Reconstructive Surgery
Distribution Channel:
- Retail Pharmacies and Drug Stores
- Clinics and Hospital Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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