Dermal Fillers Market Overview:
The market for derma fillers is growing due to factors such as increasing trend of using anti-ageing treatments, primal desire to look younger, increasing acceptance of tissue fillers and facial aesthetics, rapid growth of facial surgeries and others. Technological advancement and product development are also strong strategies in gaining market share.
Global dermal fillers market is expected to grow at the CAGR of 13.2% during the forecast period and is estimated to reach USD 10,008.4 million by 2023.The influence of media and fashion industry and social and attitudinal aspects of a region or nation also have a large impact on the market. Dermal fillers market is currently in its infant stage and there is a lot of scepticism about its future.
Critical market constraints are scepticism, concerns of safety, stringent regulations and others. Quality of products is critical as derma fillers are xenobiotic which can have serious recuperations. The contradictory claims of self-proclaimed experts with claims that are difficult to validate have added to ambiguity.
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Dermal Fillers Market Segmentation:
Global Dermal Fillers market has been segmented on the basis of type which comprise botulin toxin, hyaluronic acid, polymers & particles, and collagen.
On the basis of application, it is segmented into facial line correction treatment, face-lift, and lip treatments, and others.
Botulin toxin segment accounts for the largest market share in the global dermal filler market while Hyaluronic Acid segment is projected to grow at a CAGR of 13.0% during the forecast period from 2017 – 2023. Facial line correction treatment segment accounts for the largest market share in the dermal filler market by application, this market is expected to reach US$ 4,319.0 in 2023
Dermal Fillers Market Regional Analysis:
Geographically, the global dermal fillers market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas accounts for the largest share of 39.3% of the global market, led by the US and Mexico. Both these countries are popular destinations for cosmetic tourism. The rapidly aging population in the region coupled with the presence of advanced technologies and skilled cosmetic surgeons drive the market in the Americas. The Americas dermal fillers market is likely to reach USD 3769.6 Mn by the end of 2023.
The Europe market is driven by similar factors as the Americas and is the second largest market for dermal fillers. Advanced healthcare sector and affordability will help the market achieve a CAGR of 12.9% over the forecast period.
APAC is poised to exhibit the fastest CAGR of 13.1% over the forecast period. Massive demand has been witnessed in the emerging economies of the region such as China, South Korea, India, and others. South Korea, in particular, is a significant market for dermal fillers. The country offers sophisticated cosmetic services at an affordable price which makes it a prime destination for cosmetic tourism.
Dermal Fillers Market Players:
Dr. Korman Laboratories, ALLERGAN, Teoxane Laboratories, GALDERMA, Merz Pharma, Integra Lifesciences, and Sinclair Pharma are the eminent players in the global dermal fillers market. Among others are some key companies in the global Dermal Fillers that are listed by MRFR for market research.
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In December 2018, Silk Inc. announced the development of a sustainable dermal filler. The company’s new activated silk technology is made from silkworm cocoons and is meant to be a more biocompatible and eco-friendlier as compared to traditional or alternative acid fillers.
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