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The global facial injectables market size was USD 4.46 billion in 2020. The market is projected to grow from USD 4.77 billion in 2021 to USD 9.07 billion in 2028 at a CAGR of 9.6% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with facial injectables witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market witnessed a huge decline of -27.8% in 2020 as compared to the average year-on-year growth during 2017-2019. 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 increase in disposable incomes across the globe, coupled with the rise in awareness in terms of aesthetic beauty. This has led to an alteration of attitudes towards cosmetic procedures as more and more individuals opt to improve their aesthetic appearances. 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.
These positive trends in terms of greater adoption of facial injectables have led to increased engagement by prominent companies. These companies have invested in various R&D initiatives to develop novel fillers that address the unmet needs of the customer base. This has led to the launches of several new products, coupled with the increase in procedure volumes across the globe. Such positive factors are expected to contribute strongly to the market growth during the forecast period. Another critical trend that is expected to surge the market growth is the greater adoption of these products across all the demographic groups.
Cancellation of Elective Procedures Negatively Impacted the Market Growth during COVID-19 Pandemic
The COVID-19 pandemic has a negative impact on the global market as restrictions imposed across the globe led to the closure of cosmetic and dermatological clinics. Furthermore, as these procedures are considered non-essential, these were among the first healthcare market procedures to witness widespread restriction and cancellations. This is the key factor that led to the strong drop in the facial injectables market growth in 2020. For example, Allergan (AbbVie, Inc.), the market leader, witnessed a revenue fall of -22.4% in 2020 as compared to 2019 for the company’s JUVEDERM range.
Simultaneously, the global market has been witnessing certain positive growth trends rebound as more people are vaccinated and restrictions are lifted. For instance, during the lockdown, an approximate 70% increase in virtual consultations was witnessed by cosmetic clinics and dermatological centers. Another prevalent trend is that there has been a robust upsurge in demand for these type of injectables during COVID-19 lockdowns. This pent-up demand is anticipated to show high numbers in 2021 as more and more regions lift COVID-19 restrictions. For instance, 70.0% of American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) surgeons have recorded an increase in bookings and treatments throughout the COVID-19 pandemic, with 9 out of 10 facial plastic surgeons indicating an increase of more than 10.0%.
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Strong Surge in Adoption of Facial Injectables in the Male Populace
One of the most unique and widespread trends witnessed in the global market is that an increasing proportion of the male populace is expected to adopt facial type of injectables in the forecast period. This particular trend is anticipated to contribute positively to the growth of the market in the forecast period. The male population is expected to adopt several types of fillers, such as botulinum toxin and dermal fillers, during the forecast period. For instance, an increasing number of younger men opt for tissue fillers before their skin develops an aged appearance. By adding volume and the plumping up of the skin, the formation of wrinkles may be significantly delayed. The appropriate facial injectables will reduce the possibility of developing new lines, creases, and folds or may restore the fullness of the lips.
Also, an increasing proportion of the male populace is expected to adopt botulinum toxin in order to improve their aesthetic appearance. As men require more botulinum toxin units to treat aesthetic problems such as glabellar lines, the growth is expected to be strong in this demographic. Furthermore, minimally invasive procedures such as botulinum toxin is a popular choice amongst the male population as they do not want a more pronounced improvement of their facial features. This is expected to lead to more men adopting facial type of injectables instead of invasive cosmetic surgeries. Such trends are expected to strongly contribute to market growth.
Rise in Demand for Aesthetic Procedures to Drive Market Growth
In the current scenario, there has been the creation of various factors and also awareness, which has led to increasing demand for aesthetic procedures. Furthermore, as economic development takes place in developing countries across the world, there has been a strong increase in disposable income. This has led an increasing number of individuals to adopt various filler injections in order to induce an improvement in their aesthetic beauty. Also, there has been a significant alteration of attitudes towards these cosmetic procedures, which has reduced the stigma attached to these products.
In the current scenario, there has been an increase in demand for aesthetic procedures across all age groups: the younger and geriatric populations. Also, the increase in the safety features of these products has further contributed to their greater adoption. For instance, according to the statistics released by the International Society of Aesthetic Plastic Surgery (ISAPS), in India in 2019, the total number of nonsurgical injectables amounted to 113,616 procedures. Furthermore, strong growth in the number of injectable facial procedures was also recorded in countries such as the United States, France, Italy, and Germany. Such strong growth trends in the procedural volume are expected to intensify the market growth.
New Product Launches to Augment Market Growth
The overall demand for filler procedures has increased dramatically over the years, particularly driven by the need for improved aesthetic beauty and also the development of novel fillers. This trend in the R&D initiatives for the development of new fillers has led to the launches of improved and more efficient products. These new product launches with improved aesthetic outcomes are critical reasons for the greater adoption of these fillers.
In April 2020, Allergan launched JUVÉDERM VOLUX - the company’s latest launch in facial filler offerings developed for those seeking a more defined jawline and chin. Such product launches have introduced not only novel products to a broader populace but also introduced new application indications. For instance, in August 2020, Revance Therapeutics, Inc. announced the launch of RHA Dermal Filler Line, the first and only FDA-approved dermal fillers for correction of dynamic facial wrinkles and folds in the U.S. Furthermore, recent regulatory approvals in emerging countries such as China for the indication of glabellar lines is also expected to spur market growth. Hence, these positive developments are expected to lead to a strong growth forecast for the market.
Relative Side Effects and Lack of Permanence of Facial Injectables to Restrain Market Growth
Despite a strong and sustained surge in demand for aesthetic procedures such as administration of fillers and botulinum toxin, certain factors are restricting the market growth. For instance, certain side effects of these procedures include pain, swelling at the injection site, occurrence of infections, redness, bruises, and creation of bumps and lumps. Furthermore, in some rarer instances, serious side effects such as vision loss, blurred vision, scarring, and blindness have occurred if the facial injectable is administered into a blood vessel. This is especially applicable in the developing regions, where untrained staff may inadvertently cause serious damage to the consumers. This is a critical factor that may limit the adoption of these products. Another critical factor is the high costs attributed to these procedures, as these injectables are not permanent in terms of nature. Hence, the customer has to undergo repeat procedures if they want to maintain these aesthetic improvements for a longer duration of time. For instance, in the case of botulinum toxin, repeated treatments are necessitated for the continued wrinkle reduction effects. Also, a number of individuals have reported that the muscle-relaxing effect of botulinum toxin lasts for a duration of 3 to 4 months. Hence, the risk of adverse reactions coupled with the high costs of these procedures is expected to limit the market growth in the future.
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Hyaluronic Acid to Account as the Largest Segment in 2020
Based on type, the market can be 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 2020, which is due to the strong adoption of these product types coupled with the wide application of these fillers. This strong surge in cancer cases in women is expected to lead to an increased demand for effective health devices, which is anticipated to further drive the segment's growth between 2021 and 2028. For instance, in December 2020, GALDERMA received the U.S. FDA approval for Restylane Kysse for lip augmentation and the correction of upper perioral rhytids. Such regulatory approvals are expected further to provide the impetus for the segment’s growth.
In 2020, the botulinum toxin segment held the second-highest market share, due to the strong procedural volume attributed to this type of facial injectable. The calcium hydroxylapatite segment was expected to account for the third-largest segment in the global market in 2020. Some of the contributive factors for the strong market share of the segment presence of key products such as the Radiesse range from Merz Pharma in this segment. The polylactic acid segment is also expected to witness strong growth prospects due to the recent developments such as the re-launch of the product Sculptra (injectable poly-L-lactic acid) in Europe with an updated administration protocol. The fat injection segment is anticipated to witness relatively strong growth trends due to a spur in market demand. Other key segments include the polymethyl-methacrylate microspheres (PMMA) and collagen segment, which includes the product offering of Bellafill by Suneva Medical Inc.
Wrinkle Reduction to Occupy the Dominant Share of the Application Segment
Based on application, the market is segmented into wrinkle reduction, facelift, acne scar treatment, lip enhancement, lipoatrophy treatment, and others. The wrinkle reduction segment is expected to account for the dominant segment during the forecast period. The segment's dominance is strong product launches in these segments coupled with the various investment initiatives in this segment to develop novel products. Lip enhancement accounted as the second leading segment doe to its strong market share, owing to increased demand for aesthetic enhancements of lips. Finally, the facelift segment is projected to account as the third leading segment, attributed to the increased demand for aesthetic procedures that restore lost volume to the facial areas.
Acne scar treatment and lipoatrophy treatment are other major application areas of facial type of injectables. For instance, the product of Bellafill is the first U.S. FDA-approved facial injectable development for the repair of moderate to severely indented, pitted scars caused by acne and injury. The others segment is expected to witness a relatively lower CAGR during the forecast period.
Dermatology and Cosmetic Clinics to Witness the Highest Growth Rate during 2021-2028
On the basis of end-user, the global market is divided into hospitals & ambulatory surgery centers, dermatology and cosmetic clinics, and others. The dermatology and cosmetic clinics segment is anticipated to dominate the market during the studied period. The dominance of this end-user setting is owing to a large number of injectable facial procedures being conducted in dermatology and cosmetic clinics. Furthermore, as these procedures require little to no recuperation time, many individuals opt to receive these fillers in these locations.
The hospitals & ambulatory surgery centers segment is expected to be the second-largest segment during the forecast period. For instance, according to the American Society of Plastic Surgeons (ASPS), in 2019, an estimated 25.0% of cosmetic procedures were performed in hospitals in the United States.
North America Facial Injectables Market Size, 2020 (USD Billion)
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Based on region, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North American region stood at USD 2.14 billion in 2020, and is anticipated to account for the largest market during the forecast period. The strong demand for aesthetic procedures such as the administration of facial injectables coupled with the presence of key players in the region, such as ALLERGAN (AbbVie, Inc.), are some of the factors contributing to the regions growth. For instance, in the U.S., cosmetic botulinum toxin procedures amounted to 1,301,823 in 2019 as per the statistics by the International Society of Aesthetic Plastic Surgery (ISAPS).
Europe is expected to account for the second-highest market revenue in 2020. Some of the reasons for the region’s strong market share include the strong volume of cosmetic procedures such as botulinum toxin and various dermal fillers in the region. Furthermore, the new product launches in the region by key companies coupled with high expenditure trends are expected to drive the market in the region.
Asia Pacific is projected to observer the highest CAGR during 2021-2028. The strong increase in disposable income in Asian countries, growing awareness of aesthetic procedures, and increasing focus of prominent market players in terms of new product launches contribute to the region's growth. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS) estimates, in Japan, hyaluronic acid-based fillers procedures amounted to 126,921 in 2019. Such strong procedure volumes are expected to lead to robust market growth in the forecast period.
Middle East & Africa and Latin America accounted for a comparatively lower market share. However, certain countries such as Mexico and Brazil recorded strong facial injectable procedure volumes in 2019. For instance, according to the data by the International Society of Aesthetic Plastic Surgery (ISAPS), in Brazil, hyaluronic acid-based fillers procedures amounted to 398,830 in 2019. Such strong growth trends in procedure volumes in these regions are expected to lead to growth prospects in the forecast period.
Strong and Diverse Botulinum Toxin & Dermal Fillers of ALLERGAN (AbbVie, Inc.) to Lead Company to Apex Position
The market is dominated by ALLERGAN (AbbVie, Inc.) due to the company’s strong facial injectables portfolio comprising dermal fillers and botulinum toxin for cosmetic procedures. In terms of the company’s dermal fillers offerings, the product range of JUVEDERM dominates the market. JUVEDERM is a range of hyaluronic acid-based dermal fillers which is used in a number of aesthetic procedures such as reducing wrinkles. Another prominent product offering of ALLERGAN is their product offering of BOTOX Cosmetic. These two product ranges collectively enable the company to reach market dominance in the forecast period.
Other key market players include GALDERMA and Merz Pharma, owing to their robust and broad facial injectables portfolio. Some prominent product offerings of GALDERMA include their Restylane range of dermal fillers and also their botulinum toxin product of Dysport. Merz Pharma also accounts for a significant proportion of the market revenue share due to their product ranges such as BELOTERO range and Radiesse range of dermal fillers. Other companies that are expected to engage in strategic moves to gain market share include Revance Therapeutics, Inc., and Ipsen Pharma.
An Infographic Representation of Facial Injectables Market
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The global facial Injectables market research report provides a detailed market analysis. It focuses on key aspects such as the overview of facial injection procedures by type - by key countries, pricing analysis, key industry developments (mergers, acquisitions, and partnerships), and key industry trends. Additionally, it includes an overview of new product launches 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 market's growth over recent years.
Value (USD Billion)
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.
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