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The global dermal fillers market size was USD 2.84 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with dermal fillers witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market witnessed a huge decline of -24.4% in 2020. The market is projected to grow from USD 3.07 billion in 2021 to USD 6.28 billion in 2028 at a CAGR of 10.8% in the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.
There has been a strong and sustained increase in the demand for cosmetic procedures in the current scenario, especially non-invasive cosmetic procedures such as dermal fillers. These are gel-like substances that are injected beneath the skin of the face to achieve an aesthetic outcome. Some of the application areas of such fillers are the correction of wrinkles, restoration of lost volume, lip enhancement, and acne scars. As disposable income across the globe, especially in the emerging regions, increases, these procedures are expected to boost procedural volumes. Furthermore, the increasing awareness regarding filler procedures has significantly reduced the earlier taboos associated with cosmetic procedures. Such changes in attitudes are expected to significantly lead to an adoption of these products.
In response to these positive trends of market growth, several companies engaged in manufacturing facial injectable have invested considerably in R&D initiatives. These R&D initiatives have led to the development of a considerable number of products with significantly improved aesthetic outcomes. Such product launches are also expected to strongly contribute to the growth of the market in the forecast period. Hence, greater demand for aesthetic procedures coupled with new product launches with a wide range of applications contributes strongly to the market growth during the forecast period.
Cancellation of Elective Cosmetic Procedures to Negatively Impact Dermal Fillers Market amid COVID-19
The impact of COVID-19 is visible in the healthcare sector as it is at the epicenter of this unprecedented global pandemic challenge. The market has been particularly impacted as it is considered an elective procedure and was amongst one of the first medical procedures to be hit by cancellations. Elective and non-essential procedures were significantly delayed in several countries that the outbreak has impacted to avoid the spread of the infection. Due to the COVID-19 imposed lockdowns, the medical cosmetics sector witnessed disruptions in supply chains raised due to limitations on import and export, closure of flights, reduced production, and disturbed supply channels.
Therefore, it negatively affected the sales of injectable fillers products across the globe due to reduced demand. Major players in the market reported a decline in the revenue for dermal fillers products from the second quarter of 2020. For instance, ALLERGAN (AbbVie, Inc.), a strong player in the global market, recorded a decrease of 42.3% in revenue compared to FY 2019 for the JUVEDERM Collection. However, various specialty clinics and dermatological centers witnessed an estimated 70.0% increase in requests for virtual consultations during the lockdown. Therefore, there will be market growth in FY 2021, and after that, as the restrictions are eased, the postponed procedures are performed due to the strong increase in the pent-up demand. Furthermore, the extensive demand for COVID-19 vaccinations is also further expected to lead to sustained growth.
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Rising Adoption of Injectable Fillers Amongst the Male Population
One of the most prevalent trends witnessed in the global market is that almost all the demographic groups have shown inclination or interest in these non-invasive or minimally invasive procedures. This is particularly relevant for the male demographic group, who have increasingly adopted these procedures to enhance their appearances. For instance, an increasing number of men find that age and gravity can negatively impact the appearance of their facial features. Hence, facial fillers treatments are adopted by males for their effectiveness in the reversal of the early gravitational aging that occurs in the face. Furthermore, it provides that added advantage of no downtime needed for the recovery.
According to the ISAPS Global Survey Results 2019, the male demographic group accounted for approximately 12.8% of the total global non-surgical procedures. With greater attention to this demographic group by dermatologists, this proportion may increase in the forecast period. Hence, these new trends are expected to open up a new patient population base for the companies engaged in the global market and are expected to significantly contribute to the market surge during the forecast period.
Surge in Demand for Minimally Invasive Cosmetic Procedures to Boost Market Expansion
One of the most critical market drivers to the global market growth is the substantial increase in the demand for facial aesthetics. Individuals have sought easier and comparatively painless procedures for a youthful appearance and healthy visage in recent times. Since invasive cosmetic surgeries often have a number of risks attached and often necessitate the patient to take additional days for recovery from the surgery. According to the American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS)'s annual survey, four-fifths of all treatments performed by facial surgeons in the U.S. in 2018 were cosmetic procedures with botulinum toxin and fillers. Such strong statistics further illustrate the significant increase in the demand for aesthetic procedures.
The surge in demand for this type of aesthetic procedure has also positively impacted the manufacturers of filler products. Various companies engaged in aesthetics are increasingly launching products to meet the growing demand for medical aesthetics. For instance, in April 2020, ALLERGAN (AbbVie, Inc.) announced the launch of JUVEDERM VOLUX - the latest evolution in facial filler treatments for those seeking a more defined chin and jawline. Such launches are also anticipated to lead to an increased demand for these procedures due to the increased awareness.
Increasing R&D Initiatives Coupled with Rising Demand for Dermal Filler Procedures to Augment Market Growth
One of the other most critical drivers of the global market is the increasing number of R&D initiatives for the development of new fillers. These Fillers have a wide range of aesthetic indications. The growth in the number of application areas in various non-invasive or minimally invasive cosmetic procedures is anticipated to drive the global dermal fillers market growth.
Furthermore, the positive growth trends in the number of dermal filler procedures over the years also contribute to the growth of the market during the forecast period. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2019, an estimated 4,315,859 procedures involving hyaluronic acid fillers were conducted worldwide 2019. This represented an increase of 15.7% over the previous year of 2018. Such a strong volume increase in the number of aesthetic procedures are also expected to further contribute to the market growth in the forecast period.
High Costs and Relative Side Effects of Product to Hinder Market Growth
Despite the various aesthetic applications of dermal fillers, several limiting factors are projected to restrain the global market growth during the forecast period. The high costs associated with these products are one of the major hindrances contributing to the decline of the growth of the global market. The cost of the filler may depend on factors such as the expertise and qualifications of the person performing the treatment, the type of procedure used, and the time and effort the procedure or treatment requires. Furthermore, the non-permanent nature of these products may require the person to opt for repeated aesthetic treatments. This, in turn, increases the financial burden on the individual, and they may not opt for these elective procedures.
In addition to this, the harmful effects caused by the administration of such fillers injections are another major factor leading to the decline of the growth of the market. The possible adverse effects include pain, swelling, or bruising at the injection site, redness, bruising, infections, lumps & bumps. Besides, sometimes few adverse reactions such as vision loss, severe scarring is experienced in person due to accidentally injecting fillers into blood vessels. Hence, these factors mentioned above can restrict the market growth during the forecast period.
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Hyaluronic Acid Segment to Grow at Faster Pace in 2021-28
Based on material, the global market can be segmented into hyaluronic acid, calcium hydroxylapatite, Poly-L-lactic Acid, PMMA (poly (methyl methacrylate)), fat fillers, and others.
The hyaluronic acid (HA) segment emerged as the dominant segment in 2020, owing to its status as a gold standard for dermal fillers. Furthermore, new product launches in this segment are anticipated to drive the segment. The increase in the demand for hyaluronic acid-based products is primarily driven by their safety and comparative longevity. Furthermore, key companies offering hyaluronic acid products in high-growth regions such as Europe, including ALLERGAN (AbbVie, Inc.), is expected to drive the segment’s growth during the forecast period. Additionally, increasing number of hyaluronic acid based procedures will further boost the segmental growth. For instance, as per data from the International Society of Aesthetic Plastic Surgery (ISAPS), there were around 1,92,730 hyaluronic acid based procedures performed across Japan in 2018.
The calcium hydroxylapatite segment accounted for the second-highest market share in 2020, owing to its safety features. The fat fillers segment is projected to expand with a high CAGR during the forecast period, owing to the rise in the number of fat filler procedures in key regions such as North America.
The PMMA (Poly (methyl methacrylate)) segment accounted for a lower market share owing to the decreased adoption rates of these products due to their non-biodegradable nature.
The Poly-L-lactic Acid segment is anticipated to witness growth trends due to trends such as product re-launches in the segment.
Strong Presence of Biodegradable Products in the Market to Enable the Segment’s Dominance
On the basis of product, the market can be segmented into biodegradable and non-biodegradable.
The biodegradable segment is anticipated to hold the highest market share in the forecast period. The higher share of the segment is attributed to the larger availability of product offerings in this segment as compared to the non-biodegradable and the wider aesthetic applications of biodegradable products. The greater degree of safety and strong regulatory approval for the products of the biodegradable segment is also expected to contribute to the segment’s growth.
The non-biodegradable segment accounted for a lower market share in 2020, owing to the non-temporary nature of these products, which has resulted in considerably lesser adoption rates. In contrast to temporary and semi-permanent fillers, non-biodegradable products are not decomposable and remain in the body for a longer time.
Wrinkle Correction to Emerge as the Dominant Segment in 2020
On the basis of application, the global market can be segmented into scar treatment, wrinkle correction treatment, lip enhancement, restoration of volume/ fullness, and others.
In terms of the application segment, the wrinkle correction segment accounted as the leading segment due to the greater demand for these types of procedures. Furthermore, new product launches directed at this segment are anticipated to lead to the segment’s growth. In February 2020, BioScience GmbH launched Hyaprof. It is a polydensified facial filler that dermatologists use to correct nasolabial wrinkles, oral commissures, and any deformity on the face
The lip enhancement segment accounted for the second-largest segment due to the strong volume of lip procedures. The rising demand for aesthetic improvements for the lips, driven by the development of minimally-invasive procedures, is expected to drive the segment.
The restoration of the volume/fullness segment is anticipated to account as the third-largest segment owing to product launches such as Allergan’s (AbbVie, Inc.) JUVEDERM VOLUX. The scar treatment is expected to account for a comparatively lower market share in the forecast period.
Specialty & Dermatology Clinics to Grow at the Highest CAGR in 2021-2028
Based on the end user, the market is segmented into specialty & dermatology clinics, hospitals & clinics, and others.
The specialty & dermatology clinics segment is expected to account as the dominant segment during the forecast period. The segment's dominance is because a large volume of cosmetic procedures is conducted in specialty and dermatological clinics. This is the major factor for the growth of the segment. Furthermore, as aesthetic procedures such as wrinkle correction do not need a hospital stay, these factors are expected to support the segment's growth.
The hospitals & clinics segment accounted for the second-highest market share in 2020, owing to the increasing number of aesthetic procedures such as facial injectables conducted in hospitals and clinics. The others segment is expected to witness a comparatively lower market growth rate and market revenue share in the forecast period.
North America Dermal Fillers Market Size, 2020 (USD Billion)
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On the basis of region, the global market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The market size in North America stood at USD 1.22 billion in 2020. The region is expected to account for the dominant share of the global market during the forecast period. Some of the reasons for the dominance of this region include a highly aware and economically stable population coupled with a comparatively higher number of cosmetic procedures performed in the region. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS) in 2018, about 6,50,232 hyaluronic acid procedures were performed in the U.S. Furthermore, regulatory approvals and new product launches are also expected to drive the region’s growth in the forecast period.
Europe is anticipated to hold the second highest market share in 2020, which is attributable to the increasing preference amongst individuals for undergoing dermal filler procedures in key European countries and rising expenditure on research and development in Europe. For instance, according to the ISAPS Global Survey Results 2019, Germany was one of the key countries in Europe in terms of dermal filler procedures. In 2019, approximately 983,432 cosmetic procedures were conducted in Germany.
Asia Pacific is estimated to witness the highest growth rate during the forecast period. The improvement in healthcare infrastructure in Asian countries, the growing aging population, and the increasing consciousness of the individuals regarding their physical appearance drive the growth of the market in the region. For instance, in July 2020, South Korea’s LG Chem announced that they had initiated the clinical trial of a premium dermal filler called YVOIRE Y-Solution in China. Such developments are expected to further contribute to the strong growth of the region.
Latin America and the Middle East & Africa accounted for a relatively lesser market share in the forecast period. However, developing healthcare infrastructure in these countries and the rising influx of players with novel products in these regions can be pivotal in driving the growth of the market in these countries in the future during the forecast period. For instance, according to the International Society of Aesthetic Plastic Surgery, in 2017, about 22,141 injectable procedures were performed in South Africa.
Robust Dermal Fillers Portfolio of ALLERGAN (AbbVie, Inc.) to Elevate the Company to a Dominant Position
In terms of the competitive landscape, the market has diverse market players, with companies ranging from large, established players to small, emerging players. In terms of the present market scenario, ALLERGAN (AbbVie, Inc.) dominates the market, accounting for a substantial proportion of the global dermal fillers market revenue. The company dominates the market due to its strong product portfolio comprising the JUVEDERM Collection of Hyaluronic Acid (HA) fillers. Furthermore, the diverse application areas of the JUVEDERM Collection also further cements the company’s peak position in the global market.
However, companies such as Revance Therapeutics, Inc. and Merz Pharma are engaged in strategic movements such as new product launches and collaborations to further strengthen their market presence. In addition, other prominent players such as Galderma and Sinclair Pharma are focusing on new product launches in key regions to increase their market revenue share in the global market.
An Infographic Representation of Dermal Fillers Market
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The dermal fillers market research report provides detailed market analysis and focuses on key aspects such as the overview of the types of these fillers, regulatory scenario by key countries, reimbursement scenario by key countries, and pipeline analysis. Additionally, it includes an overview of new product launches/approvals and the impact of COVID-19 on the global market. Besides these, the report offers insights into market trends and highlights key strategies by market players. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.
Value (USD Billion)
Fortune Business Insights says that the global market size was USD 2.84 billion in 2020 and is projected to reach USD 6.28 billion by 2028.
In 2020, North America stood at USD 1.22 billion.
Growing at a CAGR of 10.8%, the market will exhibit steady growth during the forecast period (2021-2028).
The hyaluronic acid segment is expected to be the leading segment in this market during the forecast period.
The increasing demand for facial fillers, the new product launches, and the increasing research and development initiatives for the development of advanced products are the major factors driving the growth of the market.
Allergan (AbbVie Inc.), Galderma, and Merz Pharma are some of the major market players in the global market.
North America dominated the market in 2020.
The increasing demand for dermal fillers, greater awareness and need for aesthetic beauty, and new product launches are expected to drive the adoption of the products.
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