DataM IntelligenceGlobal Facial Aesthetics Market is expected to reach a CAGR of 21% during the forecast period 2022-2029.Market Overview
The rising R&D initiatives in the aesthetics industry and the recent regulatory approvals are driving the growth of the market. Also, the high proportion of the geriatric population and the rising patterns of early ageing due to environmental factors such as pollution are contributing to the global facial aesthetics market.
The popularity of dermal fillers has grown rapidly in recent years. They rejuvenate and enhance the aesthetic improvements previously only achievable with surgery, but at a lower cost and with limited-to-no recovery time. The North American region is dominating the global market from 2022 to 2029.
The U.S. controls the North American facial aesthetics market owing to the increasing demand for dermal fillers and botulinum toxins, due to refining lifestyles and rising preference for minimally invasive operations. Asia-Pacific is predicted to produce the uppermost CAGR in the forecast period of 2022-2029, owing to the occurrence of a huge patient pool using botox and facial dermal fillers in the Asia Pacific.
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Market Dynamics
The growing concern of people about their appearance is gradually increasing, both in the developed and the developing countries, which leads to an increase in the number of cosmetic surgeries performed annually. According to the annual plastic surgery procedural statistics, there were 17.5 million surgical and minimally invasive cosmetic procedures performed in the US in 2017, with a 2% increase in the number of procedures over 2016.
The rate of the growing acceptance of tissue fillers is high in developed countries, however, in developing countries, people are also getting more concerned with their appearance, especially with the increasing standard of living. Wrinkles are the first visible signs of ageing. A face marked by furrows appears tired and neglected. Wrinkles are like small fractures of the skin, and the aim of a filler is to fill them.
Dermal fillers, also known as injectable implants, soft tissue fillers, or wrinkle fillers, are medical device implants approved by the FDA, in order to help create a smoother and/or fuller appearance in the face, including nasolabial folds, cheeks, and lips and to increase the volume of the back of the hand. The FDA has approved some dermal fillers for the restoration and/or correction of the signs of facial fat loss (lipoatrophy) in people with human immunodeficiency virus (HIV). Hence, the growing acceptance of dermal fillers is driving the growth of the facial aesthetics market globally.
Market Segmentation
By Product
l Dermal Fillers
l Botulinum Toxin (Botox)
l Chemical Peel
By Application
l Facial Line Correction Treatment
l Scar Treatment
l Lip Treatments
l Others
By End-User
l Hospitals
l Specialty & Dermatology Clinics
l Others
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Competitive Landscape
Some of the major players operating in the global facial aesthetics market are Allergan PLC, Galderma Laboratories, L.P., Merz Pharmaceuticals GmbH, Teoxane SA, among others. Allergan is one of the major players accounting for the highest market share in 2018, as the company has a number of technologically advanced and specialized products as per varied indications due to its JUVÉDERM family of dermal fillers.
This range has a number of dermal fillers according to various indications such as the correction of wrinkles and enhancement of the lips. The key players are adopting several strategies such as product launches, partnerships, mergers and acquisitions, collaborations, and finding a new market in their core competency in order to stay competitive in the market.
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