Hyaluronic Acid Dermal Filler Market to reach USD 8.6 Billion - Risk-adjusted numbers with COVID-19 analysis change scenario

The Global Hyaluronic Acid Dermal Filler Market Size accounted for USD 4.1 Billion in 2021 and is projected to achieve a market size of USD 8.4 Billion by 2030 rising at a CAGR of 8.5% from 2022 to 2030.

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Hyaluronic Acid Dermal Filler Market Dynamics

Rising disposable income and the strong influence of social media are driving the global hyaluronic acid dermal filler market. Furthermore, technological advancements that result in shorter procedure and recovery times are expected to boost demand over the forecast period.

This global expansion can be attributed to a growing awareness and significance of quality of life and general wellbeing among the global population. Furthermore, scientific advancements and technological innovations in the industry are expected to boost market growth even further. According to the International Society of Plastic Surgery (ISAPS), hyaluronic acid-based dermal filler procedures were the second-most popular injectable procedures worldwide in 2016.

According to the International Society of Plastic Surgery, approximately 8,500,000 non-surgical procedures were accomplished worldwide in 2016. This increase in health awareness and consciousness among the population about changing beauty standards has resulted in an increase in demand for cosmetics and aesthetics procedures. This factor is also expected to boost the growth of the global hyaluronic acid dermal filler market.

Hyaluronic acid dermal fillers are commonly used for cosmetic procedures like reducing dark circles, eye wrinkles, scars, and improving nasolabial folds. Hyaluronic acid injections are distinguished by their ease of use, low cost, and high effectiveness. During the forecast period, these interconnected factors are anticipated to drive the growth of the worldwide hyaluronic acid fillers market. Growing popularity and consciousness of aesthetic measures for cosmetic makeovers, as well as the easy availability of FDA-approved hyaluronic acid-based synthetic products like Perlane, Juvederm, Hylaform Plus, and Restylane, are expected to drive market growth during the forecast period.

Hyaluronic Acid Dermal Filler Market Insights

In 2015, hyaluronic acid injectables were among the second-most oftenly performed procedures in the Americas, with total nonsurgical cosmetic procedure expenditure exceeding USD 5 billion. The Americas and Europe regions have a set of standards and regulations in place for industry manufacturers and suppliers. However, with the introduction of new products into the global market, the current market scenario is predicted to become more stringent in the coming days.

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Hyaluronic Acid Dermal Filler Market Segmentation

The global hyaluronic acid dermal filler market is divided into three categories: product, application, and region. The global hyaluronic acid dermal filler market is classified into single-phase and duplex products. The global hyaluronic acid dermal filler market is divided into applications such as wrinkle removal, lip augmentation, rhinoplasty, and others. The global hyaluronic acid dermal filler market is divided into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa.

Hyaluronic Acid Dermal Filler Market Share

Single-phase products led the global hyaluronic acid-based dermal filler market in terms of market share, owing to the population's preference for procedures such as medium and deep wrinkle removal. In 2021, wrinkle removal procedures were among the top applications segments in the worldwide hyaluronic acid dermal filler market. The growing influence of social media advertisements promoting flawless younger-looking skin is forecasted to drive further growth in this segment in the coming years.

Hyaluronic Acid Dermal Filler Market Regional Growth

The North America hyaluronic acid dermal filler market held the largest market share in 2021, owing to the higher number of minimally invasive cosmetic surgeries accomplished in the region. Because of growing awareness about the applications of minimally invasive procedures in emerging economies such as China, as well as rising disposable income levels, the Asia-Pacific hyaluronic acid dermal filler market is expected to grow at a faster CAGR during the forecast period.

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Hyaluronic Acid Dermal Filler Market Players

The key players catering to the global hyaluronic acid dermal filler market are ALLERGAN PLC, Anika Therapeutics, Inc., Bioxis Pharmaceutical, Bohus Biotech AB, Genzyme Corporation, Galderma S.A., Merz Pharma GmbH & Co. KGaA, Sculpt Luxury Dermal Fillers Ltd, Medicis Aesthetics Holdings, Inc., Sinclair Pharma, and Laboratories Vivacy. Global players are constantly investing in R&D activities and innovating to maintain an updated product portfolio in order to attract more and more business opportunities from emerging nations such as those in Asia Pacific. Changing customer preferences are enabling global players to develop user-friendly products with the best user experience in order to best cater to the market. Furthermore, increased R&D investments, combined with technological advancements, are expected to provide lucrative possibilities for industry participants.

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