Aging results in loss and redistribution of facial fat and collagen. Facial aesthetic procedures reverse the aging process to a certain extent. Facial aesthetics is one of the foremost segments of total aesthetic devices market. Global facial aesthetics market was valued at USD 2.6 billion in 2013. It is estimated to grow at a CAGR of 10% from 2014 to 2020. This may be attributed to economic turnaround in developed nations like the U.S.
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The importance of physical appeal is on the rise. People all over the world are attracted to products and treatments that will help them stay youthful for as long as possible. They are also increasingly becoming aware of various aesthetic procedures available in the market.
Technological advancements have lead to development of techniques that offer better results, yet are less invasive, thus enabling faster recovery. Patients now observe permanent results from treatments that use biopolymers, hyaluronic acid and collagen. Moreover, there are no harmful adverse effects. This has greatly boosted consumer confidence and is driving market growth.
The market is negatively affected by extremely strict safety regulations in most parts of the world. Also, social stigma linked to such aesthetic procedures, especially amongst the middle class, still prevails. Another inhibitor of demand is the lack of reimbursement policies. However, the future market outlook is promising as low cost options emerge in developing economies. Stiff competition between various core and non-core players will further lower treatment costs.
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Overall facial aesthetic procedures are split into two types, viz. botox (botulinum toxin) and dermal fillers. Botox is a protein that is derived from a bacterium. Highly diluted doses of the protein are used mainly to reduce moderate-to-severe frown lines. Dermal fillers help in softening creases and wrinkles. They also enhance shallow contours. Their sub-segments include HA and PPF (particle and polymer fillers). HA when used along with elastin and collagen improves elasticity, volume and structure of the facial skin.
Main geographical markets are Turkey, US, Germany, Brazil, India and China. France, Spain, Italy, Japan, Columbia and South Korea also generate significant demand for facial aesthetics. Major competitors in the global facial aesthetics market are Galderma S.A., Anteis S.A., Medytox Solutions Inc., and Allergan Inc. Other key players include Valeant Pharmaceuticals International, Merz Pharmaceuticals GmbH, Laboratories Teoxane, and Ipsen. The market is witnessing consolidation through mergers and acquisitions.
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