Dermal fillers are cosmetic treatment injections given to prevent the effects of aging in the cheeks, lips, and the mouth. They are used in filling shallow areas of the face and fattening thinning lips. Market Research Future (MRFR) has outlined a list of drivers, opportunities, and restraints in the comprehensive dermal fillers market report.
Dermal Fillers Market Outlook
Global dermal fillers market is predicted to touch a value of USD 10,008.4 million by 2023, according to MRFR. It can achieve this benchmark by exhibiting 12.5% CAGR from 2017 to 2023 (forecast period). Changing norms regarding face and external appearances have propelled the demand for dermal fillers. This is evident with the demand rising sharply in Brazil, Japan, China, and India. Development of new filler techniques, new injections, and new materials is likely to bode well for the global market growth. It is supported by inclination of customers for non-invasive surgical procedures.
Large section of the population undergoing cosmetic surgery, the huge geriatric numbers, and widespread acceptance of dermal fillers can fuel the dermal fillers market. According to the World Health Organization, more than 2 billion of the world population can exceed the age of 50 by 2050. It is aided by improving procedures and rising disposable income levels of customers. Rising use of aesthetic medical practices as well as growing acceptance rate of dermal fillers can buttress the growing global dermal fillers market demand. Moreover, the growing cosmetic tourism is likely to work in favor of the market.
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Dermal Fillers Market Segmentation Analysis
The global dermal fillers market is segmented by type and application.
By type, it is segmented into collagen, hyaluronic acid, polymers & particles, and botulinum toxin. The botulinum toxin segment has accounted for more than 47% market share in 2016. It can touch a value of USD 4,601.67 million by 2023 due to growing interest in cosmetic surgeries as well as development of safe procedures. On the other hand, hyaluronic acid can exhibit 12.9% CAGR during the forecast period due to the substance being preferred for anti-aging treatments.
By application, it is segmented into lip treatment, facial line correction treatment, and face-lift. The facial line correction treatment segment is set to exceed a valuation of USD 4,300 million due to being used for eliminating unwanted wrinkles and lines. On the other hand, the face-lift segment can reach a valuation of USD 3,5909.7 million by 2023. This can be attributed to the preference of the treatment by women.
Dermal Fillers Market Regional Analysis
The Middle East & Africa (MEA), the Americas, Asia Pacific (APAC), and Europe are regions taken into consideration in the compilation of the global dermal fillers market report.
The Americas held 39.3% market share in 2016 and poised to remain the dominant region till 2023. It is led by countries of the U.S. and Mexico known for their cosmetic tourism. Large geriatric populace and inclination of customers towards anti-aging treatments can push the regional market valuation to USD 3,769.6 million by 2023.
The Europe region is projected to grow due to similar factors of the Americas and attain significant revenue at 12.9% CAGR over the forecast period. On the other hand, the APAC region can display the highest CAGR of 13.1% due to massive demand for dermal fillers in China, India, and South Korea.
Dermal Fillers Market Competitive Analysis
Major industry participants in the global dermal fillers market include Merz Pharma, Integra Lifesciences, Dr. Korman Laboratories, ALLERGAN, Teoxane Laboratories, GALDERMA, and Sinclair Pharma. Approval of new formulae, mergers, acquisitions, and collaborations are prime strategies incorporated by these players for gaining a lead in the market.
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