Collagen Filler Market Size, Emerging Trends, Growing At a CAGR of 7.4% | Coherent Market Insights
SEATTLE, May 04, 2021, (PHARMIWEB) —
Global Collagen Filler Market, by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), by Product Type (Collagen with PMMA and Collagen without PMMA), by Source (Bovine, Porcine, and Others), by Application (Face Rejuvenation, Wrinkles, Scar Treatment, Lip Treatment, Cellulite Reduction, and Others), and By End User (Dermatology Clinics, Hospitals, and Others), is approximated to have a market valuation of US$ 393.8 million in 2020 and is projected to manifest a CAGR of 7.4 % over the forecast period of 2020-2027, as mentioned in a new report published by Coherent Market Insights.
To improve their position in the global collagen filler market, key companies are focusing on expanding their manufacturing facilities for collagen dermal fillers. CollPlant Holdings Ltd, a regenerative medicine firm, announced in 2019 that its Rh collagen manufacturing and production facility unit had been approved in Europe. The European Union issued DEKRA (European Union Notified Body) certification to the processing and production units for the production and manufacturing of Rh collagen dermal fillers.
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Impact of COVID-19 Pandemic
The COVID-19 pandemic has had a major effect on cosmetic procedures due to the possibility of coronavirus transmission.
Plastic surgery and cosmetic surgery were not included in emergency and urgent care treatments to minimise the risk of transmission of the coronavirus infection, according to a National Library of Medicine study from May 2020.
According to the International Society of Aesthetic Plastic Surgery’s May 2020 study, health practitioners should use personal safety devices, hand gloves, and sanitise surgical instruments before and after surgery in the event of an urgent plastic surgery.
The concentration of major companies on getting sanction of their novel products, is expected to drive growth of the global collagen filler market over the forecast period.
The market is expected to witness significant growth during the forecast period as key players are focusing on obtaining approval for novel products such as dermal fillers. Endo International plc, a pharmaceutical firm, obtained FDA approval for QWO (collagenase clostridium histolyticum-aaes), a collagen injectable used for the treatment of mild to extreme cellulite development in adult women’s buttocks and thighs, in May 2020.
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Key Takeaways of the Global Collagen Filler Market:
Due to robust product pipelines and approval of collagen dermal fillers, the global collagen filler market is projected to expand at a CAGR of 7.4% over the forecast period.
Due to increased product approvals and launches, the collagen with PMMA filler segment is expected to hold a dominant role in the global collagen filler market in 2020.
Due to the greater efficiency of bovine collagen, the bovine segment is expected to maintain a dominant role in the global collagen filler market in 2020.
Owing to the rising occurrence of skin conditions such as face lines and nasolabial folds in adult individuals, the face rejuvenation segment is expected to hold a dominant role in the global collagen filler market in 2020.
Due to a rise in plastic surgery procedures by individuals over the age of 30, the dermatological clinics segment is projected to hold a dominant place in the global collagen filler market by 2020.
Major companies involved in the global collagen filler market are Ortho Dermatologics, Inc., Merz Pharma GmbH & Co. KGaA, Collplant Holdings Ltd, Inc., Inamed GmbH, Allergan, Inc., Surgical Specialties Corporation, Endo International plc., Sinclair Pharma, Johnson & Johnson, and Suneva Medical.
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By Product Type:
- Collagen with PMMA
- Collagen without PMMA
- Face Rejuvenation
- Scar Treatment
- Lip Treatment
- Cellulite Reduction
By End User:
- Dermatology Clinics
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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