Dermal Fillers Market is projected to exhibit 2.9% CAGR between 2021 and 2031 | Growth Prospects, Future Scope, Driving Factors
Growing inclination towards non-invasive procedures and increasing efficiency of dermal fillers have been driving the dermal fillers market. Future Market Insights (FMI) in a new study has projected the market to reach US$ 4.04 Bn by the end of 2021. The application of dermal fillers ranges from better aesthetic outcomes to the treatment of forehead augmentation.
The use of dermal fillers is not restricted to facial skin procedures, it also includes various derma aesthetic procedure treatment. Moreover, an increase in the number of non-invasive aesthetic surgeries and an increasing number of aesthetic surgeons are expected to be important factors for surging the demand for dermal fillers.
According to the Plastic Surgery Statistics Report, in 2019, there were around 13,618,735 non-surgical procedures performed by plastic surgeons worldwide.
Additionally, increasing awareness concerning the dermal fillers in emerging countries, the emergence of new products and d new indications are enabling growth. Besides this, the rising ageing population is one of the major factors that is rapidly fuelling the demand for dermal fillers. The rising demand for anti-ageing treatment to effectively diminish the signs of ageing and facial treatment will keep the demand for dermal fillers high.
FMI has projected absorbable dermal fillers to remain most preferred. It is expected to account for over 99% of dermal fillers sold through 2031.
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Key Takeaways of Dermal Fillers Market Study
- The global dermal fillers market will continue expanding at a steady pace. FMI has projected the market to exhibit 2.8% Y-o-Y growth in 2021
- The U.S. is one of the key markets for dermal fillers, accounting for over 89% of North America market in 2021
- Demand for dermal fillers is expected to remain significantly high in the U.K. FMI has projected it to exhibit over 5% Y-o-Y growth in 2021
- Germany and France are other lucrative markets for dermal fillers in Europe
- Dermal fillers sales in Japan are expected to be considerably high. South Korea too will continue exhibiting rising demand for dermal fillers
“Achieving approvals from international organizations and product launches are among key strategies adopted by the market players. They are primarily focusing on catering to the demand for non-invasive cosmetic procedures among patients,” says the FMI Analyst
Who is Winning?
The regulatory approval for new products is one of the key factor responsible for enormous competition among market players globally. Some of the leading market players have been focusing on product launches. Besides this mergers & acquisitions and collaboration remain the key trends among market players intending to expand their footprint globally.
For instance, AbbVie Inc., acquired Allergan Aesthetics, the onset of the completion of its acquisition of Irish-domiciled pharmaceutical company in January 2020. Allergan Aesthetics would operate as a new global dedicated business with its research & development function including aesthetic products, botox Cosmetic, the Juvederm collection of dermal fillers, and Coolsculpting body contouring.
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Also, Revance Therapeutics signed an exclusive U.S. distribution agreement in January 2020 with Teoxane SA for its innovative Resilient Hyaluronic Acid products like RHA2, RHA3, and RHA4. Hence this agreement would expand the Teoxane’s aesthetic products sales.
In Oct 2020, Sinclair Pharmaceuticals Ltds. signed a strategic distributorship agreement with Tamer Group KSA, intending to expand its aesthetic profile sales footprint in the Middle East and Africa with its exclusive distributor in Saudi Arabia.
More Valuable Insights on Dermal Fillers Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each segment from 2014 to 2029. The global dermal fillers market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on dermal fillers market on basis of product type (absorbable, non-absorbable), by ingredient (hyaluronic acid, poly-L-lactic acid, calcium hydroxylapatite, polymethyl methacrylate, and collagen), and distribution channel (retail pharmacies and drug stores, clinic and hospital pharmacies, online pharmacies), across seven major regions.
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