The rising demand for minimally-invasive procedures aiding the growth of the global dermal fillers market. Fortune business insights in a new report, titled “Dermal Fillers: Global Market Analysis, Insights and Forecast, 2019-2026” suggests that the global market will rise at a CAGR of 7.8% during the forecast period, 2019-2016.
Major Leading Players Mentioned:
- Merz Pharma
- Galderma laboratories
- Sinclair Pharma
- BioPlus Co., Ltd.
- Bioxis pharmaceuticals
- SCULPT Luxury Dermal Fillers LTD
- Prollenium Medical Technologies
- CANDELA CORPORATION
- Suneva Medical
- Anika Therapeutics, Inc
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The growing awareness about dermal fillers treatment in developed as well as developing countries will help the market reach US$ 6,303.2 Mn by 2026. Furthermore, the global market was worth US$ 3,471.5 Mn in 2018.
According to the American Society of Plastic Surgeons (ASPS), over 15.9 million people in the U.S. underwent minimally-invasive cosmetic surgical procedures in the year 2015. The increasing efficiency of dermal fillers is encouraging the next-generation people to invest in these surgeries.
Dermal filler procedures help to treat different skin related concerns such as minimizing the appearance of wrinkles and lines. It also adds fullness to areas which have thinned with aging.
North America Leads Gains Owing to Growing Demand for Advanced Dermal Fillers
In 2018, the market in North America was worth US$ 1,596.8 Mn. Driven by the growing demand for innovative and advanced dermal fillers, the region is expected to lead global market through the forecast years. As per a study conducted by ASPS, more than 2 million people in the U.S. underwent hyaluronic acid procedures. Increasing awareness about soft tissue fillers treatment in the U.S. is expected to drive the market in North America. Extensive availability of products in this region is positively impacting the growth of the market.
Apart from North America, the market in Asia Pacific is also growing substantially in the forecast years. The rising demand for aesthetics in China and India is creating growth opportunities for the market in Asia Pacific. In addition to this, the awareness about effectiveness of dermal fillers for acne scars, lips, and cheeks is increasing gradually, which is driving the market in this region. Key market leaders in India and China are adopting strategies such as new product launches, augmenting demand for dermal fillers.
Demand for Dermal Fillers to Rise Among Millennials Propelling Growth in the Market
Growing aging population across the world positively impacts the growth of the market. Increasing number of aged people are undergoing dermal filler therapy to uplift drooping skin and restore lost volume. Continuous support from governments to R&D initiatives and recent regulatory approvals will spur growth in the market.
“The dermal fillers market is driven not only by the relative longevity of tissue fillers, but it is also predominantly driven by increasing safety profiles,” said a lead analyst at Fortune Business Insights. “Market players are constantly focusing on innovating and upgrading their product portfolio to ensure accurate and improved aesthetic outcomes for patients,” he added. Driven by continuous innovations and advancements, even millennials find dermal filler treatment appealing. This will further fuel demand for dermal fillers in the forecast period.
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Product Launches by Market Players to Accelerate the Market Growth
The report profiles some of the key players in the global dermal fillers market. These include BioPlus Co., Ltd., Galderma laboratories, Bioxis pharmaceuticals, Suneva Medical, DR. Korman, Sinclair Pharma, ALLERGAN, Merz Pharma, and CANDELA CORPORATION. Among these, ALLERGAN was leading the global market in 2018 encompassing a large number of specialized and technologically-advanced products. The company offers a JUVÉDERM collection of dermal fillers, which includes lip enhancement and wrinkles correction.
Moreover, the company launched Juvéderm VOLUX to reduce fines lines on jawline and chin. Another company called Merz Pharma recently launched a dermal filler product called Belotero Revive to meet the unique skin requirements of aesthetic patients. Such product launches are expected to help companies broaden their product portfolio, which will stimulate growth in the market.