Dermal Fillers Market To Grow At CAGR Of 13.2% By 2025, Global Covid-19 Impact Analysis, Industry Size, Share, Top Companies, Technology Trends, Business Growth Opportunities

Dermal Fillers Market Outlook

Dermal fillers or injectable are used in different areas of the face and have varying functionalities. Dermal Fillers Market Size is expected to register a CAGR of 13.2% and growth to reach USD 6,899.16 Million till 2025.

Facial aesthetics has gained prominence across the globe, especially in the emerging economies of China, South Korea, India, Brazil, and Japan where they are available at a relatively lesser price as compared to the US and in Europe. Growing disposable income in such countries coupled with developments in the healthcare sector and growing awareness regarding the same.

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Dermal fillers are more popular among the aging population since they help remediate the problems of age spots, wrinkles and lines, particularly around the neck, and facial area.

The World Health Organization (WHO) estimates that by the end of 20250, more than 2 Bn of the world population will be over the age of 50.

Dermal fillers can be injected easily through minimally invasive procedures which involves limited downtime. In addition, they have become more effective, longer lasting and help achieve subtle, and natural looking results which made them highly popular among consumers.

The growth of the global dermal fillers market can also be attributed to the improving clinical outcomes. The dermal fillers market is evolving continually, and advancement in injection techniques, devices, and the inclusion of new materials have reflected positively on the growth of the market.

Growing cosmetic tourism is likely to influence the growth of the global dermal fillers market. Consumers are traveling to places which offer sophisticated cosmetic procedures at legitimate prices which induce high demand for dermal fillers. However, augmenting requirement for dermal fillers has also given rise to a black market. A growing number of unlicensed practitioners result in a number of faulty surgical procedures which not only evoke hesitance among consumers but also restrain the growth of the market over the forecast period.

Dermal Fillers Market Competitive Landscape

Dr. Korman Laboratories, ALLERGAN, Teoxane Laboratories, GALDERMA, Merz Pharma, Integra Lifesciences, and Sinclair Pharma are the eminent players in the global dermal fillers market.

Covid-19 Impact Analysis of the Global Dermal Fillers Market

Dermal fillers are widely used in minimally invasive procedures as an anti-aging solution to reduce facial lines and restore facial firmness. Dermal fillers are used to enhance shallow contours, remove wrinkles, soften facial creases, and improve the appearance of scars using different types of products. Increasing awareness about the benefits of dermal fillers, in comparison to surgical procedures, is leading to its widespread acceptance among the population of all age groups.

Coronavirus pandemic is affecting the global dermal fillers market. The emergence of novel coronavirus disease (COVID-19) in 2020. As of now it has affected more than 4 million people across the globe and caused as many as 281,736 deaths. Major markets for dermal fillers such as the US, China, Spain, Italy, Germany, France, and the UK are suffering huge economic loss due to the disease. Many companies are sacking employees to sustain in the market. It is expected to increase unemployment, resulting in reducing the purchasing power of customers. Thus, people will be more selective about beauty and cosmetic procedures due to decreased purchasing power because of personal and financial losses. It is anticipated to restrict the growth of the market during the forecast period.

Also, various cosmetics facilities and clinics are already closed for more than 3 months and suffered significant losses in revenue generation. According to the report published by Hamilton Fraser with the help of The National Health Service (NHS), it is reported that more than 80% of the clinics in the UK were closed during the lockdown which caused an 86% reduction in revenue. Also, the American Society of Plastic Surgeons has recommended to all practitioners to cease any elective or non-essential services to the customers to reduce the risk of the SARS-CoV-2 virus transmission from human to human as well as the rate of new case development. Thus, increasing prevalence of coronavirus is resulting in a decreasing number of aesthetic procedures and resulting in the usage of dermal fillers.

According to the MRFR analysis, in 2020 the market will show a huge dip in terms of volume and value although it is likely to recover by the end of 2022. It is estimated that the dermal fillers market in 2020 will drop by approximately 40% as compared to 2019.

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Dermal Fillers Market Segmentation

The global dermal fillers market has been segmented based on type, and application.

By type, the global dermal fillers market has been segmented into Botulinum toxin, Hyaluronic acid, Polymers & particles, and others.

By application, the global dermal fillers market has been segmented into Facial line correction treatment, Face-lift, Lip treatments, and others.

Dermal Fillers Market Regional Analysis

Geographically, the global dermal fillers market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).

The Americas accounts for the largest share of 39.3% of the global market, led by the US and Mexico. Both these countries are popular destinations for cosmetic tourism. The rapidly aging population in the region coupled with the presence of advanced technologies and skilled cosmetic surgeons drive the market in the Americas. The Americas dermal fillers market is likely to reach USD 3769.6 Mn by the end of 2023.

The Europe market is driven by similar factors as the Americas and is the second largest market for dermal fillers. Advanced healthcare sector and affordability will help the market achieve a CAGR of 12.9% over the forecast period.

APAC is poised to exhibit the fastest CAGR of 13.1% over the forecast period. Massive demand has been witnessed in the emerging economies of the region such as China, South Korea, India, and others. South Korea, in particular, is a significant market for dermal fillers. The country offers sophisticated cosmetic services at an affordable price which makes it a prime destination for cosmetic tourism.

Dermal Fillers Industry Updates

In December 2018, Silk Inc. announced the development of a sustainable dermal filler. The company's new activated silk technology is made from silkworm cocoons and is meant to be a more biocompatible and eco-friendly as compared to traditional or alternative acid fillers.

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