Dermal Fillers Market to Account for CAGR of 7.5% from 2023 to 2033 Owing to the Rising Demand for Minimally Invasive Facial Treatments Globally | Report by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
The dermal filler market is expected to experience strong growth over the next decade, driven by increasing consumer demand, technological advancements, and expanding applications in the cosmetic industry. The dermal filler market is expected to experience strong growth over the next decade, driven by increasing consumer demand, technological advancements, and expanding applications in the cosmetic industry
DUBAI, United Arab Emirates, March 23, 2023 (GLOBE NEWSWIRE) -- The global dermal fillers market is projected to create lucrative growth opportunities over the forecast period by exhibiting a CAGR of 7.5% from 2023 to 2033. The growth of the market is attributed to its rising utilization to rejuvenate different facial areas associated with various functionalities. The rising demand for facelifts or face line corrections in various emerging countries is enabling market growth.
Dermal fillers are injectable implants commonly used to give a flawless and rejuvenated facial appearance. In addition to this, it is often used as an anti-aging method for the reduction of wrinkles, and skin folds, and for smoothening the skin. Furthermore, diverse applications of dermal fillers are helping to improve an individual’s appearance. These factors are likely to sustain the growth of the Dermal Fillers market.
The United States Food and Drug Administration (FDA) has approved the market for various applications, including restoration and correction of lipoatrophy in people with HIV. Other applications of dermal fillers include correction of the cheek, reduction of acne scars, and reduction of nasolabial folds.
Compelling Market Trends
The cross-linked hyaluronic acid, derived from a non-animal source has been utilized for a long time and is proven to be safe and effective as a dermal filler. Some of the leading players have been launching novel formulations, which will enable growth in the dermal fillers market.
A significant surge in the demand for minimally invasive facial treatments has been gaining immense popularity over the assessment period. Furthermore, the growing preference for such minimally invasive cosmetic procedures has been favoring the overall expansion of the market.
An increasing number of manufacturers are heftily investing in research and development activities in order to develop new and innovative technologies in the field of cosmeticology. This is resulting in the advent of higher quality fillers that would be easier to use and would confer better satisfaction for patients.
Across the globe, customers have been exhibiting a rising preference for minimally invasive procedures for improving their appearance. These procedures have witnessed the most significant increase including Botulinum Toxin Type A (increased by 3% over 2019), dermal filling with hyaluronic acid (increased by 1% over 2019), and non-surgical skin tightening experienced steady growth among others.
The majority of emerging countries are working on investing heftily in new and innovative technologies to offer high returns. According to the American Society of Plastic Surgeons (ASPS), Brazil had the second largest number of cosmetic procedures with almost 2.3 million procedures conducted in 2018 followed by Mexico (1.0 million), India (0.89 million), and Argentina (0.60 million).
Restraints
High costs of dermal fillers are anticipated to restrain the growth of the global dermal fillers market over the assessment period. In addition to that, some adverse skin problems such as irritation and acne are likely to occur on sensitive skin during the procedure. These aforementioned factors are likely to create obstacles in market growth over the next decade.
Dominant market players operating in the global dermal fillers market are aiming at strategic collaborations and acquisitions with leading pharmaceutical companies to address the requirements of an expanding patient pool. Some of the companies are focusing on innovations and USFDA approvals to increase sales of dermal fillers market worldwide.
In Jan 2019, Suneva Medical signed collaborative agreements with Healeon Medical and Bimini Technologies intending to shape the future of the regenerative aesthetics sector and expand the sales of aesthetic products.
Some of the leading companies operating in the Dermal Fillers market are:
Non-Hyaluronic Acid Dermal Filler Market Size : The market for non-hyaluronic acid dermal fillers is anticipated to grow at a CAGR of 2.6% from 2022 to 2032, reaching US$ 520.4 million in 2032 from an estimated US$ 392.7 million in 2022.
Teledermatology Market Demand : Dermatology is the field of medicine concerned with the skin, hair, nails and their diseases. It is a speciality dealing with both the medical & surgical aspects.
Dermal Fillers and Botulinum Toxin Market Share : By the end of 2022, the market for dermal fillers and botulinum toxin is anticipated to be worth US$ 5.9 billion, and it will continue to grow at a CAGR of 6.1% from 2022 to 2032.
Dermatology Devices Market Opportunity : The market for dermatology devices was valued at US$ 4.6 billion in 2021 and is expected to grow at a CAGR of 6.5% to US$ 9.3 billion by the end of 2032.
Dermatology Cryosurgery Units Market Growth : Dermatology cryosurgery unit sales are anticipated to increase from US$ 145.8 Million in 2022 to US$ 305.7 Million by 2032. The predicted CAGR from 2022 to 2032 is 7%, compared to a value of 6.4% from 2016 to 21.
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