Dermal Fillers Market is projected to exhibit 7.5% CAGR from 2023 to 2033 | FMI
The dermal fillers market size was valued at US$ 5.05 Bn in 2021. The market is projected to grow from US$ 5.2 Bn in 2022 to US$ 6.72 Bn by 2031, growing at a CAGR of 2.9% during the forecast period.
The rapid rise in demand for cosmetic aesthetics is one of the most important key factors influencing the expansion of the worldwide market. For a young appearance and healthy visage, people have recently sought out simpler and more painless treatments. Since invasive cosmetic procedures can have a lot of dangers and also need the patient to spend extra time to recuperate from the procedure. In the United States, there were over 13.2 million cosmetic operations performed in 2020, of which 3.4 million used soft tissue fillers, according to a study. Such compelling data further demonstrates the sharp rise in demand for cosmetic operations.
The manufacturers of dermal fillers have benefited from the growth in demand for cosmetic operations. To fulfill the rising need for medical aesthetics, several aesthetics-related businesses are introducing more and more goods. These treatments are anticipated to increase the number of procedures performed as disposable income grows across the world, particularly in emerging nations. Additionally, the last taboos linked with cosmetic treatments have been greatly diminished by the growing understanding of filler procedures. The adoption of these items is anticipated to be strongly influenced by such changes in attitudes.
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Numerous businesses that produce face injectables have made significant R&D investments in response to these encouraging market growth patterns. A substantial number of items with noticeably better aesthetic results have been developed as a result of these R&D endeavors. Such product introductions are also predicted to significantly contribute to market growth throughout the forecast period. As a result, increased demand for cosmetic operations, combined with new product releases with a diverse range of uses, will drive the global dermal fillers market growth over the projected period.
Despite the wide range of aesthetic applications, some limiting factors are expected to impede worldwide market growth throughout the projection period. The high cost of these items is one of the primary factors leading to the worldwide market’s reduction in growth.
Key Takeaways from the Dermal Fillers Market:
- Between 2021 and 2031, the U.S. total healthcare spending is projected to rise at a rate of 5.4%, exceeding the GDP by 4.3%.
- The market for hyaluronic acid is anticipated to be worth US$ 4,774.1 Mn, increasing at a CAGR of 3.0% during the forecast period.
- In the market, pharmacies at hospitals and clinics are more often used as distribution channels. According to FMI’s prediction, this market will continue to account for more than half of all dermal filler sales ever registered.
- Due to the widespread use of dermal fillers in cosmetic reconstructive procedures and their long-term effectiveness, the aesthetic reconstructive application obtained a significant market share.
- The market in Brazil is primarily driven by elements including 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.
- Growth in the German dermal fillers market is due to the introduction of new products and increased distribution.
- During the anticipated period, the absorbable dermal fillers segment is likely to hold a substantial market share.
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What is the Competition Outlook for Dermal Fillers Market?
The market’s competitive landscape is diversified, with organizations ranging from major, established competitors to small, rising players. In the current market context, ALLERGAN (AbbVie, Inc.) leads, accounting for a significant percentage of worldwide market revenue. Some businesses are concentrating on innovations and USFDA approvals to boost dermal filler market sales globally. As they wait for permission from international authorities, major players are concentrating on acquisitions and growing their global footprint.
Major companies in the dermal fillers market 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., among others.
- 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.
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- Hyaluronic Acid
- Poly-L-Lactic Acid
- Calcium Hydroxylapatite
- Polymethyl methacrylate
- Aesthetic Restoration
- Reconstructive Surgery
- Retail Pharmacies and Drug Stores
- Clinics and Hospital Pharmacies
- Online Pharmacies
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