“Rising Interest in Cosmetic Operations Globally Fuels the Market”
Dermal filler market growth will be supported throughout the projected period by an expanding network of healthcare facilities offering cutting-edge aesthetic treatments and improved infrastructure. The number of clinics, medical spas, and centers for rejuvenation has significantly increased in recent years both in industrialized and developing countries. Thus, the rapid adoption of various non-invasive treatments offered by these facilities owing to the benefits including the cost-effectivity and shorter treatment duration will propel the industry growth. Furthermore, escalating number of skilled professionals such as dermatologists and plastic surgeons will further augment the industry expansion.
According to the recent study published by the Quintile Insights, The Dermal fillers market is expected to reach USD 9.45 billion by 2030; expanding at a CAGR of 7.44%. This is owing to recent product innovations, growing FDA approvals, cutting-edge aesthetic treatments, and improved healthcare infrastructure. High patient satisfaction from product development will also have a beneficial effect on product demand during the predicted period. In the coming years, it is anticipated that ongoing advancements in filler materials will have an impact on market expansion. Numerous products intended for particular facial regions have received FDA approval, enabling dermatologists to provide clients with specialized care. The filler can be used to treat moderate to severe facial creases and wrinkles.
Recent innovations, such as HA filler for subtle lip enhancement that improves lip definition without increasing lip size, will also raise public preference for dermal filler procedures. The surge in surgical and non-invasive cosmetic procedures worldwide is majorly responsible for the expansion of the market.
Dermal fillers are injected under the skin and are soft, gel-like materials. Deep under-eye bags, lifting of the cheekbones, volumization of the lips, smoothing of lip lines and nasolabial folds (the wrinkles that run from the side of the nose to the corners of the mouth), and hand rejuvenation are a few of the frequent issues they can treat.
Throughout the projected period, North America will continue to be one of the most attractive markets for dermal fillers. The region’s high disposable income, good ability to spend on cosmetic operations, the presence of top manufacturers and the expanding demand for non-surgical procedures in the region are some of the main drivers promoting expansion.
During the projected period, Europe is anticipated to hold the second-largest market share for dermal fillers. The region’s market is expected to be significantly influenced by the rising demand for minimally invasive methods of face enhancement.
Due to the rising geriatric population and rising per capita income, APAC is anticipated to expand at the fastest CAGR throughout the projection period. Another significant factor that is anticipated to propel the market in the area during the assessment period is the increased demand for non-invasive cosmetic procedures and products for facial aesthetics. Due to the presence of profitable chances that might accelerate the industry, the presence of growing nations like India, China, and Japan is anticipated to significantly enhance the regional market.
To increase their consumer base in the worldwide market, the majority of significant competitors are implementing a variety of competitive methods, including acquisition, mergers, and alliances. They are also emphasizing expanding their product lines. Numerous advances and product innovations are anticipated as a result of the rising demand for minimally invasive cosmetic procedures, giving them an advantage over their rivals.
Recent Developments:
- In March 2021, with a modified administration regimen, Galderma announced the reintroduction of Sculptra (injectable Poly-L-lactic acid) in Europe.
- In February 2021, the injectable hyaluronic acid filler BELOTERO BALANCE (+) with lidocaine has been launched in the United States, according to Merz Esthetics.
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