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The facial injectables market size was valued at USD 8.47 billion in 2022 and is projected to grow from USD 8.89 billion in 2023 to USD 13.84 billion by 2030, exhibiting a CAGR of 6.5% during 2023-2030. North America dominated the global market with a share of 47.57% in 2022.
There has been a strong increase in disposable incomes across the globe, which has prompted individuals to boost their investment in products that can enhance their aesthetic beauty. This has led to a major change in attitude toward cosmetic procedures as more individuals are trying to improve their aesthetic appearance. As minimally invasive procedures, such as facial injectables, are considered safer and require little to no downtime, an increasing number of people are opting for these products. These injectables include neurotoxins, such as botulinum toxin and dermal fillers, such as hyaluronic acid and calcium hydroxylapatite.
Therefore, an increased demand for cosmetic procedures has encouraged prominent companies to invest in various R&D initiatives to develop novel fillers that address the unmet needs of the customer base. This has led to the launch of several new products and an increase in cosmetic procedure volume across the globe. These factors are expected to contribute strongly to the market growth during the forecast period. Another critical trend that is expected to boost market progress during the forecast period is the greater adoption of these products across all demographic groups.
Cancellation of Elective Procedures Negatively Impacted Market Growth during COVID-19 Pandemic
The COVID-19 pandemic had negatively impacted the sales of various cosmetic products across the globe due to reduced demand. Major players in the market reported a considerable decline in their revenue from facial injectables in the second quarter of 2020.
Other players, such as Merz Pharma, Revance Therapeutics, Inc., and Anika Therapeutics, Inc., also recorded a decline in their revenue from facial injectables in 2020 due to the closure of treatment centers and the cancellation of elective aesthetic procedures. However, various specialty clinics and dermatological centers witnessed an estimated 70% increase in requests for virtual consultations during the lockdown.
Therefore, there was a strong market recovery in 2021. After that, as the restrictions were eased, the postponed procedures were performed due to a strong increase in pent-up demand. Furthermore, a surge in COVID-19 vaccinations across the globe also helped the market achieve sustained growth. Moreover, in 2022, the market bounced back and is projected to register a significant growth rate during 2023-2030, owing to increasing investments by key market players.
Strong Surge in Product Adoption Among Male Population
One of the key market trends is that several demographic groups have demonstrated an interest in these non-invasive or minimally invasive procedures. One of these demographic groups includes the male population, which has increased the adoption of these cosmetic procedures.
As people of all ages and genders experience aging, the male population has observed that age and gravity can adversely impact their facial appearance over time. This is why facial injectables, including dermal fillers and botulinum toxin, are being increasingly adopted by males due to their efficiency in reversing the early signs of gravitational aging that occur on the face. Moreover, patients do not need any downtime for recuperation from these procedures, which will further improve their demand.
Hence, these new trends are expected to open up a new patient population base for the companies engaged in this market, and will significantly drive the market growth.
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Surge in Demand for Minimally Invasive Cosmetic Procedures to Boost Market Expansion
The demand for cosmetic surgeries and minimally invasive or non-invasive cosmetic procedures, such as botulinum toxin injections and dermal fillers has increased tremendously over the past decade. People have sought easier and comparatively pain-free methods for appearing youthful and healthy without having to face the problems associated with invasive cosmetic surgeries. Invasive surgeries have a number of risks attached and often necessitate the patient to take additional days to recuperate from the surgery.
Moreover, the rising demand for younger-looking and perfect skin is expected to increase the volume of minimally invasive procedures, thereby driving the market growth.
Increasing R&D Initiatives and Rising Number of Facial Injectable Procedures to Fuel Market Growth
Facial injectables have several aesthetic indications, and growth in the number of application areas in the form of various types of non-invasive or minimally invasive cosmetic procedures is anticipated to drive the global market progress. Increasing research studies for facial injectable products and their positive results, coupled with recent regulatory approvals of these solutions, is a critical factor boosting the global market growth.
Furthermore, advantages, such as better skin resilience, repair of skin discoloration, and regeneration of skin cells, are associated with hyaluronic acid fillers and botulinum toxin, which have increased their adoption among customers. Furthermore, a robust increase in the number of facial injectable procedures over the years is also contributing to the growth of the market.
High Costs and Relative Side Effects of Facial Injectables to Restrict Market Growth
Despite the various aesthetic applications of facial injectables, several limiting factors of these procedures can hamper the market’s growth in the coming years. The high cost of these injectables is one of the major restraints contributing to the slow growth of this market. The cost of the facial type of injectable may vary based on 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.
In addition to this, the harmful side effects, such as pain, swelling or bruising on the injected area, redness, infections, and lumps & bumps caused by the administration of facial type of injectables, are another major factor that may slow the growth of the market.
Hyaluronic Acid Gained Significant Momentum in Demand Owing to New Product Launches
Based on type, the market is divided into botulinum toxin, collagen, hyaluronic acid, calcium hydroxylapatite, polylactic acid, polymethyl-methacrylate microspheres (PMMA), fat injection, and others.
The hyaluronic acid segment accounted for the highest facial injectables market share in 2022 due to the strong adoption of these products and their wide application areas. Strong benefits associated with these products include better aesthetic outcomes and greater patient safety, which is anticipated to fuel the segment’s growth in the forecast period. For instance, in December 2020, GALDERMA received the U.S. FDA approval for its product named Restylane Kysse. The product will be used for lip augmentation and correction of the upper perioral rhytids. Such regulatory approvals are expected to accelerate the segment’s growth.
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Product Widely Used in Wrinkle Reduction Owing to Heavy Investments in Research and Development Activities
Based on application, the market is segmented into wrinkle reduction, facelift, acne scar treatment, lip enhancement, lipoatrophy treatment, and others.
The wrinkle reduction segment accounted for the leading market share in 2022 owing to new product approvals and heavy investments in the extensive research and development of facial injectables that can reduce wrinkles.
The lip enhancement segment accounted for the second highest market share in 2022 owing to the rising demand for improving the aesthetic appearance of lips and the development of minimally-invasive procedures.
High Procedural Volume in Dermatology and Cosmetic Clinics Fueled Product Use
On the basis of end-user, the facial injectables market is divided into hospitals & ambulatory surgery centers, dermatology & cosmetic clinics, and others.
The dermatology & cosmetic clinics segment accounted for the highest market share in 2022. A large number of facial injectable procedures are conducted in dermatology and cosmetic clinics. This is a major factor contributing to the growth of the segment. Furthermore, the rising cases of aesthetic problems, such as wrinkles and loss of facial volume, and an increase in awareness about minimally invasive procedures are expected to favor the expansion of the segment.
The hospitals & ambulatory surgery centers segment held the second-largest market share in 2022. The segment is also anticipated to record a significant CAGR owing to an increasing number of facial injectable procedures being conducted in hospitals and ambulatory surgery centers.
Based on region, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America Facial Injectables Market Size, 2022 (USD Billion)
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North America recorded the highest market revenue of USD 4.03 billion in 2022 owing to the highly aware and economically stable population and a comparatively higher number of procedures being performed in the region.
Europe registered the second-highest market revenue in 2022. Some of the reasons for the region’s strong market share include a high volume of cosmetic procedures, such as botulinum toxin and various dermal fillers. Furthermore, new product launches in the region by key companies and high expenditure on cosmetic treatments are expected to drive the market’s growth in the region.
Asia Pacific is projected to observe the highest CAGR during 2023-2030. Improvements in the healthcare infrastructure of Asian countries, a growing aging population, and increasing consciousness among individuals regarding their physical appearance are driving the growth of the market in the region.
The Middle East & Africa and Latin America accounted for a comparatively lower market share. The growth of the market in these regions is mainly attributed to the growing focus on physical appearance.
Strong and Diverse Facial Injectables by ALLERGAN (AbbVie, Inc.) to Help Company Hold Apex Position
The market reflects a consolidated competitive landscape dominated by players, including Allergan Aesthetics (AbbVie Inc.), Galderma, and Merz Pharma. AbbVie Inc. is one of the dominant players operating in this market. The company has a strong emphasis on R&D initiatives to introduce novel products in the market.
Galderma is considered to be the second most prominent player in the market owing to the strong focus of the company on the launch of novel products in the international market. Other companies, such as Bioxis Pharmaceuticals, Sinclair (Huadong Medicine Co., Ltd.), Revance Therapeutics, Inc., and Medytox (South Korea), are expected to engage in strategic initiatives to gain a large market share. The other companies operating in this market include Revance Therapeutics, Inc. and Ipsen Pharma.
An Infographic Representation of Facial Injectables Market
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The report provides a detailed market analysis. It focuses on key aspects, such as the overview of facial injection procedures by type, key countries, pricing analysis, key industry developments (mergers, acquisitions, and partnerships), and key market trends. Additionally, it offers an overview of new product launches and the impact of COVID-19 on the market. Besides this, the report offers insights into the strategies used by key market players to expand their business operations. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 6.5% from 2023 to 2030 |
Unit | Value (USD Billion) |
By Type, Application, End-user, and Region | |
Segmentation | By Type
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By Application
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By End-user
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By Region
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Fortune Business Insights says that the global market size was USD 4.46 billion in 2020 and is projected to reach USD 9.07 billion by 2028.
In 2020, North America stood at USD 2.14 billion.
Growing at a CAGR of 9.6%, the market will exhibit steady growth in the forecast period (2021-2028).
The hyaluronic acid segment is expected to be the leading segment in this market during the forecast period.
The increased demand for facial type of injectables, new product launches, and the rising awareness regarding aesthetic procedures are the major factors driving the market's growth.
Allergan (AbbVie Inc.) is the major market player in the global market.
North America dominated the market in 2020.
The increase in disposable income, rising awareness in consumers, and strong demand for these aesthetic procedures are expected to drive the adoption of the products.