FMI states in its recent study on the dermal-fillers-market that the market will record an impressive CAGR of 2.9% through 2031. Demand for Dermal fillers is anticipated to continue surging due to the increasing demand for minimally invasive facial treatments and the increasing preference for minimally invasive cosmetic procedures have favored the overall business expansion.
The market for dermal fillers is anticipated to grow at a 7.5% CAGR between 2023 and 2033. They are employed to rejuvenate various facial regions linked to specific functions. The market is expanding as a result of the increased demand for facelifts and face line corrections in various emerging nations.
Growing desire for minimally invasive cosmetic operations and increased demand for minimally invasive facial treatments have been helping the market expand overall.
“Some of the companies are focusing on innovations and USFDA approvals to increase sales of dermal fillers market worldwide. Other than these strategies, key players are focusing on acquisitions and expansion of their global footprint as they await approvals from international organizations” says the FMI analyst.
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Dermal fillers Market – Important Highlights
- During the forecast era, the demand for hyaluronic acid is expected to remain strong, especially based on its safety profile and biodegradable properties.
- According to end-use, Clinics and hospital pharmacies have been exhibiting high demand for dermal filler.
- Thanks to its long-term effectiveness, the aesthetic reconstructive application earned a high share of the dermal fillers industry due to the high use of dermal fillers in esthetic reconstructive surgeries.
- North America is expected to remain a prominent regional market for dermal fillers.
Dermal fillers Market – Drivers
- The preference of the customers for minimally invasive procedures for improving their appearance is boosting the market growth.
- A rising number of manufacturers are spending heavily on research and development (R&D) to develop new and advanced cosmetic technology is driving the growth of the market.
- Also, rising investment is projected to deliver strong returns in certain developing countries.
Dermal fillers Market – Restraints
- Hindrance in the dermal fillers market due to COVID-19 is causing deterrents in the growth of the market.
- Some people experience adverse side effects due to others refuse to use them which is a key restraining factor of the market.
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Dermal fillers Market
During this time there has been a disruption in the supply and demand chain which has caused an impact on the revenue of dermal fillers in a negative way. The pandemic triggered unprecedented economic casualties and disrupted many treatments for dermal fillers. The pandemic has led to a decrease in the patient’s flow in the clinics, and doctor chambers. However, Global sales were down, but now the position is restored and in the coming years it hopes to benefit more and more.
Competitive Landscape
· The Dermal fillers market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge. Several dermal fillers instruments equipped with innovative technology have appeared on the market. For example, in January 2019, Suneva Medical signed joint agreements with Healeon Medical and Bimini Technologies to shape the future of the field of regenerative aesthetics and increase aesthetic product sales. Some of the leading companies operating in the market are Galderma Pharma S.A, Sinclair Pharma plc, Zimmer Biomet Holdings, Allergan plc. Anika Therapeutics Inc., Merz Pharma GmbH & Co. KGaA.
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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
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