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 ~12.5% during the forecast period and is estimated to reach USD 10,008.4 million by 2023.
The rising number of ageing populations makes the market one having high market equity. According to the World Health Organization (WHO), the proportion of the world’s population over 60 years between 2015 and 2050 will nearly double from 12% to 22%. Further, as per WHO estimates, by 2020, the number of people aged 60 years and older will outnumber children younger than 5 years and by 2050, 80% of older people will be living in low- and middle-income countries.
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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. Derma 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.
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:
Americas is the top market, which includes North America and Latin America. The Americas market is led by the U.S. Due to large R&D investment, larger per capita income and rapid uptake of technological advanced products, US dermal fillers market was valued USD 1,074.0 million in 2016. However it has to be noted that although the demand for these cosmetic surgery are quite high in developed countries like the U.S., Latin American countries. Such as Venezuela, Brazil and others have a disproportionate share of market considering their low income as compared to the U.S. The market of these nations is influenced to a considerable degree by the tourism and fashion industry. Advertisement and greater exposure seems to be the best strategy to be a market leader along with product development. The return on investment for advertisement and publicity is very high for the derma fillers market. The porn industry also is affecting the market and it has been seen that the rise of cosmetic surgeries has a linear relationship with the quality and bandwidth of the internet. Thus cities such as Los Angeles, Las Vegas etc. are the leading clusters of derma fillers market.
Europe is the second largest market for Dermal Fillers and is expected to reach USD 10,008.4 million by 2023. France is dominating this market while UK is the fastest growing dermal fillers market.
Dermal Fillers Market Players:
Some of the key players in this market are: Allergan (Republic of Ireland), Dr. Korman Laboratories (Israel), GALDERMA (Switzerland), Integra Lifesciences (US), Merz Pharma (Germany), Sinclair Pharma (UK), and Teoxane laboratories (Switzerland).
Brand awareness and brand loyalty plays a critical role in the global anti-ageing drugs market. Established market players must focus on the product development as well as market development strategies. Maintaining market equity is of utmost importance as the market is highly integrated and specialized. The industry is also resource and intellectual property intensive.
Among others are some key companies in the global Dermal Fillers that are listed by MRFR for market research.
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Industry News:
19 March 2018 – A popular industry player, Merz Pharma, recently completed 110 years in this business. To celebrate this special occasion, they introduced their brand-new range of anti-aging therapies, the list also included dermal fillers. The market has high hopes from this launch, and it is expected to benefit the market in the coming years.
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