Hyaluronic Acid Based Dermal Fillers Market Size, Share & COVID-19 Impact Analysis, By Crosslinking Type (Monophasic and Biphasic), By Application (Scar Treatment, Wrinkle Correction Treatment, Lip Enhancement, Restoration of Volume/Fullness, and Others), By End-user (Specialty & Dermatology Clinics, Hospitals & Clinics, and Others), and Regional Forecast, 2022-2029

The global hyaluronic acid based dermal fillers market size was valued at USD 3.89 billion in 2021. The market is projected to grow from USD 4.11 billion in 2022 to USD 6.93 billion by 2029, exhibiting a CAGR of 7.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with hyaluronic acid based dermal fillers experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the market exhibited a decline of -24.8% in 2020 as compared to 2019.

Hyaluronic acid based dermal fillers are also known as hyaluronan, a clear substance that is naturally produced in the human body. There are two types of hyaluronic acid based dermal fillers available, biphasic and monophasic. The existing players operating in the market are focusing on constant innovation and upgrading of their product portfolio with new and efficient product offerings for better and accurate aesthetic outcomes for patients.

The hyaluronic acid based dermal fillers market growth is attributed to the increasing demand for aesthetic beauty, driven by the minimally invasive nature of the procedures and the increasing efficiency of the Hyaluronic acid (HA) based dermal fillers. The rise in awareness regarding these products in both developing and developed nations, the emergence of new products, and the associated new indications, such as laugh lines, are also propelling the growth of the market. Moreover, increasing investments by major players in research and development for such products are also contributing to the growth of the market globally.

COVID-19 IMPACT

COVID-19 Pandemic Slowed Market Growth in 2020 due to Shutdown of Dermatology Clinics 

The impact of COVID-19 resulted in lesser demand for hyaluronic acid based dermal fillers in 2020. This is attributed to the cancellations in non-invasive surgeries and the low admission rate for anti-aging treatment during the pandemic. The global market witnessed a decline of -24.8% in 2020 as compared to 8.3% in 2019.

The widespread disruption caused by COVID-19 has significantly affected the manufacturing of raw HA. The imposition of lockdown in potentially affected areas has led to a halt in the supply chain of hyaluronic acid leading to a decrease in sales.

Furthermore, major players in the market, such as Allergan Aesthetics (AbbVie, Inc.), have witnessed a huge loss in their revenues, according to their annual report 2020. However, in 2021, these companies witnessed an increase in revenue, which was mainly driven by the resumption of fillers surgeries.

• For instance, AbbVie, Inc. generated a revenue of USD 56,197.0 million in 2021 and witnessed an increase of 22.7% as compared to 2020. Such a strong recovery in the revenues by the market players contributed to the market growth in 2021.

LATEST TRENDS

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Rising Demand for Hyaluronic Acid Based Dermal Fillers Among Young Adults to Boost Market Growth

The market witnessed significant growth in the last decade. A prominent reason is the rising concerns about maintaining beauty standards among young adults. People between the ages of 20-29 usually opt for dermal filler procedures to prevent aging by smoothening the skin texture or correcting wrinkles.

The increase in fillers procedures among young adults has stimulated the market players to launch their products consisting of HA-based fillers.

• In February 2022, Allergan Aesthetics (AbbVie, Inc.) announced the FDA approval of JUVÉDERM VOLBELLA XC in adults over the age of 21 to improve infraorbital hollows. With this approval, the company continues the expansion of its treatment portfolio to effectively address the needs of patients.

Factors such as growing aesthetic awareness and the launch of exclusive products for young adults are expected to significantly contribute to the market growth in the coming years.

DRIVING FACTORS

Increasing Demand for Minimally Invasive Facial Treatments Worldwide to Boost Market Growth

The need for anti-aging cosmetic therapies has increased as the world's population has aged. HA products are highly recommended due to their moisturizing and viscoelastic capabilities in minimally invasive anti-aging treatments. The rising interest among people for younger-looking and perfect skin through noninvasive dermatology methods is expected to increase the minimally-invasive aesthetic procedures using HA fillers, thereby driving the overall market.

For instance, according to the Plastic Surgery Statistics Report, in the U.S., total cosmetic minimally-invasive procedures using HA fillers were 2.13 million in 2018 and 2.88 million in 2019. However, amidst the COVID-19 crisis, the number of cosmetic procedures declined to 2.62 million in 2020, with a decrease of 9.0% during 2019-2020.

Similarly, the extensive presence of hospitals and dermatology clinics conducting cosmetic procedures with hyaluronic acid based dermal fillers across the globe is expected to further propel the market growth. Moreover, an increase in research studies of these products and their positive results, coupled with recent regulatory approvals of products, is another critical factor attributable to the global market growth.

In December 2021, a research study published by the American Society for Dermatologic Surgery (ASDS) stated that hyaluronic acid filler VYC-20l was safe and effective for cheek augmentation via cannula.

Such an increase in the research studies of these products and growing minimally invasive facial treatments is expected to drive market growth during the forecast period.

Growing HA-based Dermal Fillers Procedures and Introduction of Products to Propel Market

Fillers are utilized to address scars, acne, and wrinkles, as well as chin, cheek, and lip augmentation. Hence, this has led to a keen interest among patients worldwide for dermal filler-based procedures.

Factors, such as skin resilience, repair discoloration, and skin cell regeneration, are associated with HA fillers and have increased their adoption in the market. Furthermore, increase in the number of hyaluronic acid dermal filler procedures compared to other nonsurgical procedures is expected to boost market growth during the forecast period.

• According to the statistics published by the International Society of Aesthetic Plastic Surgery (ISAPS), in 2019, hyaluronic acid based dermal fillers were among the top 5 nonsurgical procedures around the globe, recording 4.32 million procedures, respectively. Moreover, amongst women, 3.82 million procedures were documented.

Furthermore, the approval of many new products has revolutionized the industry, and the portfolio of approved products is continuously increasing. According to various surveys, HA-based fillers procedure is the most commonly performed cosmetic procedure across the globe.

The introduction of products coupled with increasing HA-based dermal fillers procedures is expected to drive market growth in the coming years.

RESTRAINING FACTORS

Presence of Alternative Dermal Fillers to Hamper Market 

Despite the wide aesthetic applications of HA-based dermal fillers, several limiting factors of these products are projected to hamper the global market growth in the coming years.

HA-based dermal fillers are limited to treating specific types of wrinkles, such as dynamic wrinkles, including crow’s feet, frown lines, and glabellar lines coupled with less longevity. However, due to the high efficacy rate, patient satisfaction, and usage in dynamic wrinkles, botulinum toxin type A dermal filler is leading the nonsurgical cosmetic procedure worldwide.

Furthermore, other biodegradable fillers, such as Calcium hydroxyapatite (CaHA) and Poly-L-lactic acid, are gaining popularity as alternative fillers used as implants with high longevity. This longevity has increased the demand for botox therapies compared to HA-based dermal fillers, restraining the market globally.

• As per statistics published by Plastic Surgery Statistics Report, 2020, 4.4 million minimally-invasive procedures with botox were performed in the U.S. Similarly, botulinum toxin type A procedures were the most performed cosmetic surgeries in the U.S.

Furthermore, key players are heavily investing in their research & development for product launches in alternative dermal fillers, which is anticipated to restrict the market during the forecast period.

SEGMENTATION

By Crosslinking Type Analysis

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Monophasic Segment to Hold a Major Share due to its Increasing Adoption in Dermal Fillers Procedures

Based on crosslinking type, the market is segmented into monophasic and biphasic.

In 2021, the monophasic segment held the highest market share and is anticipated to expand at the highest CAGR during the forecast period, 2022-2029. The growth is attributable to multiple applications of monophasic dermal fillers and long-lasting results compared to other products. Moreover, increasing product launches of new monophasic HA-based products with good efficiency are expected to fuel the demand for these products during the forecast period.

The biphasic segment is projected to expand at a significant CAGR during the forecast timeframe. The growth rate of this segment is due to the increase in approvals of biphasic HA-based dermal fillers by the U.S. FDA.

For instance, in May 2020, Galderma received the U.S. FDA approval for Restylane Kysse for lip augmentation and the correction of upper perioral rhytids. Restylane Kysse is one of the biphasic pipeline products manufactured by Galderma.

By Application Analysis

Wrinkle Correction Treatment to Hold a Major Share due to Increasing Adoption in Dermal Fillers Procedures

Based on application, the market is segmented into scar treatment, wrinkle correction treatment, lip enhancement, restoration of volume/fullness, and others.

The wrinkle correction treatment segment is anticipated to expand at the highest CAGR during the forecast period, 2022-2029. The high growth rate is attributed to the advancements in hyaluronic acid based dermal filling technologies for wrinkle treatment coupled with increasing spending on cosmetic surgeries.

The lip enhancement segment accounted for the second largest market share in 2021 and is expected to expand at a substantial CAGR during the forecast period. The second largest share of this segment is due to the rising demand for aesthetic improvements for lips and increasing introduction of products for specific lip enhancement applications in the market.

• For instance, in April 2019, Merz Pharma announced the launch of Belotero Lips, a product explicitly designed for the treatment of perioral lines and lip enhancement.

By End-user Analysis

Specialty & Dermatology Clinics Segment to Continue Dominance Due to Increasing Patient Visits

Based on end-user, the market is segmented into specialty & dermatology clinics, hospitals & clinics, and others.

The specialty & dermatology clinics segment held the largest market share in 2021 and is expected to expand at the highest CAGR over the forecast period. The segmental growth is due to the increase in the number of dermatology clinics across developing and developed countries, which is expected to increase the adoption of HA-based dermal fillers in the long run. Furthermore, increasing procedures with HA-based fillers and the rising prevalence of aesthetic problems such as wrinkles, acne, and scar are expected to propel the expansion of the segment.

The hospitals & clinics segment is projected to expand at a substantial CAGR during the forecast timeframe. The segmental growth is attributed to factors such as growing cosmetic procedures in hospitals and increasing number of hospitals worldwide, especially in developing countries.

• For instance, as per statistics published by the International Society of Plastic Surgery (ISAPS), in 2020, about 29.3% of the total cosmetic procedures were performed in hospitals in Germany. Such increased cosmetic procedures in hospitals are expected to surge the demand for hyaluronic acid based fillers.

REGIONAL INSIGHT

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The North America market was valued at USD 1.77 billion in 2021 and is projected to expand at a substantial CAGR during the forecast period. The growth is due to the rapid adoption of monophasic, well-established healthcare infrastructure, and extensive R&D initiatives by leading players.

Europe is anticipated to expand at a significant CAGR during the forecast timeframe. The growth is due to the increasing demand for anti-aging procedures using HA-based fillers, owing to the growing aging population.

• For instance, according to the International Society of Plastic Surgery (ISAPS) Global Survey Results 2020, Germany was one of the prominent countries in Europe in terms of HA-based dermal filler procedures. In 2020, approximately 236,778 procedures were conducted in Germany.

The market in Asia Pacific is expected to grow at the highest CAGR over the forecast period. The market growth across the region is attributed to the growing awareness regarding the application of HA-based dermal fillers and increasing focus on improving hospital infrastructure. Furthermore, rising fillers procedures and increasing production of products are expected to propel the market during the forecast period

The market in Latin America and the Middle East & Africa regions is likely to expand at a moderate CAGR compared to other regions over the forecast period. The growth is attributable to factors such as increasing number of dermal filler procedures, growing aesthetic awareness, growing number of specialty & dermatology clinics, and increasing medical tourism.

KEY INDUSTRY PLAYERS

Introduction of Monophasic Products by Companies to Strengthen their Market Position

The market is consolidated due to the large market share accounted for by key companies operating in the market.

The key companies operating in the global market are Allergan (AbbVie), Galderma, and Merz Pharma. In 2021, these three companies together accounted for the major hyaluronic acid based dermal fillers market share.

Allergan (AbbVie)’s product Juvederm has been in the market for many years and has continued to perform well even with the introduction of products. The highest share of the company is due to its strong product portfolio of monophasic-hyaluronic acid based dermal fillers and increasing focus on the approvals to introduce advanced products in the market.

Other companies with new product launches include BioPlus Co., Ltd., Bioxis Pharmaceuticals, DR. Korman, and other small and medium-sized market players. These companies are constantly focusing on geographical expansions and launch of new products with advanced features. Moreover, the growing focus on R&D investment and patent registration to expand product offerings are expected to fuel the market growth in the coming years.

• In September 2020, BIOPLUS CO., LTD registered a patent for “Crosslinked HA gel and its manufacturing method” for MDM Filler technology.

LIST OF KEY COMPANIES PROFILED:

• Allergan Aesthetics (AbbVie Inc.) (U.S.)


• Revance Therapeutics, Inc. (U.S.)


• Merz Pharma (Germany)


• Galderma (Switzerland)


• Sinclair Pharma (U.K.)


• BIOPLUS CO., LTD. (South Korea)


• Bioxis Pharmaceuticals (France)


• DR. Korman (Israel)


• Prollenium Medical Technologies (Canada)


• Teoxane (Switzerland)

KEY INDUSTRY DEVELOPMENTS:

• In February 2022: Allergan Aesthetics (AbbVie, Inc.) received the U.S. FDA approval for JUVÉDERM VOLBELLA XC for the improvement of infraorbital hollows in adults over the age of 21.


• In December 2021: Revance Therapeutics, Inc. received the U.S. FDA approval for RHA Redensity dermal filler for the treatment of perioral rhytids (lip lines).


• In November 2021: Sinclair Pharma announced the grant of a CE mark for the pre-incorporation of the local anesthetic Lidocaine with their HA filler Perfecth.


• In May 2021: Sinclair Pharma launched a new hyaluronic acid (HA) facial filler called MaiLi. The company announced that MaiLi has four products in its portfolio - Precise, Define, Volume, and Extreme.


• In February 2021: Galderma received the U.S. FDA approval for Restylane Defyne for Chin Augmentation to increase its presence in the market.

REPORT COVERAGE

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The research report provides a detailed competitive landscape and market dynamics. It focuses on key aspects such as the overview of the number of HA-based dermal fillers procedures and regulatory and reimbursement scenarios by key countries. Furthermore, the report provides information related to key industry developments, new product launches, pipeline analysis, and supply chain analysis. In addition, the report includes insights related to technical challenges regarding the commercialization of HA-based dermal fillers, manufacturing locations for key brands, industry trends, and the impact of COVID-19 on the market.

Report Scope & Segmentation