Global Dermal Fillers Market is anticipated to witness a CAGR of 10% by 2026 - Rising Focus on Physical Appearance, Growing Cultural Acceptance & Fading Social Media Stigma on Cosmetic Procedures

Dermal fillers are gel-like materials which are injected below the skin to restore lost volume, smooth lines and soften creases and enhance facial contours.

Covid-19 Pandemic, Financial Bottlenecks,'Zoom Boom' and Rebound of the Dermal Fillers Market

Covid-19 pandemic has severely impacted the dermal fillers market globally and as a result, several aesthetic service providers were compelled to change their method of delivery. Facial aesthetics clinics were not allowed to operate, and people were not allowed to visit them. With business completely shut down for a brief time period, the aesthetic industry witnessed a financial hit. These disruptions encouraged several suppliers to advance their businesses to online platforms.

However, despite the Covid-19 pandemic, the aesthetic market is now on the recovery path. Since early 2020, aesthetics clinics around the world have witnessed a significant spike in bookings for cosmetic enhancements due to Covid-19 & the 'Zoom Effect. It's been dubbed the "Zoom Boom" in the sector because people are using video calls more for work and socializing and hence have become more aware of their appearance after seeing their faces on video calls every day on Zoom. Plastic surgeons across the world have reported a significant growth in consultation requests for demand fillers since 2020.

Regulation of Dermal Fillers Likely to Become Stricter in the European Union With the Introduction of New Medical Device Regulations

Within the European Union, medical devices used to be regulated through the Medical Devices Directive (MDD), which required all medical devices to have a CE certification. This did not include dermal fillers.

However, from May 2021, the MDD has been replaced by MDR which classifies dermal fillers as Class III medical devices. With the introduction of new MDR, manufacturers need to comply with the MDR requirements. If manufacturers fail to comply with the MDR requirements, they will be unable to market their products within the European Union.

Growth Strategies Adopted by Leading Market Players to Establish Their Foothold in Dermal Fillers Market

The global dermal fillers market is marked by the presence of both established and upcoming players. All players operating in this market have adopted both organic and inorganic growth strategies such as new product launches, collaborations, investments and partnerships to garner a higher market share. For instance,
• In December 2021, Revance's partner, Teoxane SA, received U.S. FDA approval for RHA® Redensity's first indication, which is for the treatment of moderate to severe dynamic perioral rhytids (lip lines) in adults aged 22 or older. RHA® Redensity bolsters the versatility of the RHA® Collection of dermal fillers.

The dermal fillers market is expected to witness a double-digit growth in the upcoming years due to an increasing prominence of digitalization, automation tools, and data-driven solutions which utilize predictive analytics, Artificial Intelligence and Machine Learning. These tools are increasingly being used for:
• Streamlining resource allocation in medical facilities.
• Doctors and care managers can outline populations, target their most complex patients, and identify rising-risk patients.
• Managing patient load and assisting in capacity management - Allocating emergency rooms based on the severity of the illness, and reducing patient service turnaround time.
• Streamlining the insurance claim process that costs the hospitals significant labor hours. The technology also assists in checking eligibility and subsequent data migration, quickly and effectively.

Competitive Landscape Analysis: Dermal Fillers Market

The global dermal fillers market is marked by the presence of established market players such as Allergan (Part of AbbVie), Galderma, Merz Pharma, Teoxane, Sinclair, Revance Therapeutics, Prollenium Medical Technologies, Bioxis Pharmaceuticals, among others.

Get Detailed Insights on Dermal Fillers Market with a Sample Redacted Deck @ https://meditechinsights.com/dermal-fillers-market/

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.