The Global Dermal filler market is forecast to grow at a CAGR of 8.5% to 9.5% during the forecast period 2019 to 2024. Dermal fillers are medical devices implants most commonly known as injectable implants, soft tissue fillers and wrinkle fillers. They are used for creating smoother and fuller appearance in the face, including nasolabial folds, cheeks and lips and it is also user for increasing the volume of the back of the hand. The FDA impose strict rules and regulation on health care providers to carefully inspect all dermal filler packages for authenticity. The new bioengineered human collagen products and the various hyaluronic acid (HA) fillers are safe and effective agents for soft tissue augmentation.
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Key driving factors and restraints growth of the market:
Growing demand for facial aesthetics globally and technological advancement in the cosmetic industry are the prominent factors driving the dermal fillers market. Increasing trend of using anti-ageing treatments and demand to look younger are major drivers for the market growth. One of the aspects of modern life, which is considered as essential by men as well as women is appearance. The urge to look good has led to the notable growth in the cosmetology industry. However, number of side effects of facial injectable, excessive cost of the surgery, stringent regulations is limiting the growth of the market to great extent.
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The report analysis the dermal filler market based on type:
Botulinum toxin, hyaluronic acid, polymers & particles and collagen. Botulinum toxin segment accounts for the largest market share in the global dermal filler market while hyaluronic acid type segment is expected to grow at a higher growth rate during the forecast period, owing to the factors such as safe and effective injection of botulinum toxin into the muscles under facial wrinkles causes relaxation of those muscles, resulting in the smoothing of the overlying skin.
Based on Application, the global dermal filler market:
Facial line correction treatment, face-lift, lip treatments and others. Facial line correction treatment segment accounts for the largest market share in 2016 followed by lip treatment and face-lift. Increasing number of patient with various cosmetic skin problems such as scars, deep lines and wrinkles, which is rising due to the imbalance in diet, insomnia, stress and tension, are the major factors fuelling the demand facial line correction treatment segment.
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Global dermal filler market, by end users:
Dermatology clinics and hospitals and recreation centres. Currently, dermatology clinics and hospitals segment accounts for relatively higher revenue share, followed by recreation centres. Factors, such as rising influx of customers encourages dermatologists to establish private clinics to provide dermal services. Moreover, Dermatology clinics offer personalized and customized services that improves customer satisfaction and retention.
North America held largest share in the global dermal filler market followed by Europe, owing to increase aging population, increasing expenditure by public and private sources on healthcare and rising demand for non-invasive aesthetic procedures. Asia Pacific is witnessing rapid growth in this market which is mainly due to increasing awareness of treatments and rising healthcare expenditure. Middle East and Africa is expected to grow at slow pace during the forecast period.
The key participants in the dermal filler market:
Allergan, Inc., AQTIS Medical, Bioha Laboratories, Cynosure, Cytophil, Inc., Dr. Korman Laboratories (Israel), GALDERMA (Switzerland), Integra Lifesciences (US), Laboratoires VIVACY, Medytox, Merz Pharma (Germany), Sinclair Pharma (UK), Syneron, Teoxane laboratories (Switzerland), VisionMed, etc. The dermal filler market players are adopting M&A strategies, to sustain the competition and enhance their customer base. The increase in product or service extensions and product innovations will strengthen the competitive environment among the market payers.