North America and Europe Dermal Filler Market to Grow at CAGR of 6.4% By 2026
The factors powering demand for dermal fillers are aging population, increasing expenditure on aesthetics and beauty procedures, introduction of new areas of application such as HIV induced facial lipoatrophy, enhancement of dorsal area of hand and rising demand for non-invasive aesthetic procedures over surgical aesthetic procedures.
However, higher cost associated with the dermal filler procedure, patch up or reinjection needed for achieving the desired facial rejuvenation for absorbable dermal fillers and some post procedure complications associated with dermal fillers like bruising, redness and granulation are some factors expected to hamper growth of the North America and Europe dermal filler market over the forecast period.
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Key trend defining the market is the prominent players acquiring smaller players in aesthetics product domain, consequently increasing their infrastructure along with expanding their product portfolio. Also, big players are partnering with local and smaller companies for distribution of their products on a regional level in pursuance of capturing the market share. Furthermore, dermal filler manufacturers are also increasingly concentrating on end user engagement to retain and expand their market share.
The market is segmented based on product type, filler material, distribution channel and region. Based on product type, the market is segmented into absorbable fillers and non-absorbable fillers.
Among the product type segment, absorbable product type segment is expected to exhibit the highest revenue growth over the forecast period. The absorbable product type segment is expected to register a significant CAGR of 6.5% during the forecast period in terms of value. The non-absorbable product segment is projected to register CAGR of 4.5% over the forecast period.
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To provide in-depth insights on the pattern of demand for dermal fillers, the market is segmented into different type filler material such as hyaluronic acid (HA), poly-L-lactic acid (PLLA), calcium hydroxylapatite (CaHA), polymethylmethacrylate (PMMA) and collagen. The hyaluronic acid material segment is projected to register a significant CAGR of 6.7% over the forecast period in terms of value.
The market has also been segmented by distribution channel into retail pharmacies and drug stores, clinics and hospital pharmacies and online sales segments. Clinics and hospital pharmacy distribution segment is expected to be the highest in terms of revenue over the forecast period, with the segment registering a CAGR of 7.8%.
Retail pharmacies and drug stores are projected to witness a CAGR of 6.8% over the forecast period. One of the major growth supporter for the dermal filler market is the office based procedure and small time required for procedure (30 to 60 minutes).
Regional market projections
This report assesses trends in driving growth of each segment on the collective as well as regional level and offers potential takeaways that could prove substantially useful to dermal filler manufacturers looking forward to enter the market. North America market is expected to dominate the dermal filler market, accounting for maximum revenue share by 2016 end. Western Europe market is expected to account for approximately 28.5% revenue share of the North America and Europe dermal filler market by 2016 end. Among the emerging markets, Germany is projected to exhibit a significant CAGR of 7.2% over the forecast period, followed by France, due to rising demand for non-invasive aesthetics procedures and increasing expenditure on aesthetic procedures.
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Some of the key players in the North America and Europe dermal filler market include Allergan plc., Galderma Pharma S.A., Sinclair Pharma S.A., Anika Therapeutics Inc., Suneva Medical Inc. and Merz Pharma GmbH and Co. KGaA. In this report, FMI has discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share collectively.
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