Dermal Fillers Market

Dermal Fillers Market Size (2022 to 2027)

As per our report, the global dermal fillers market is expected to grow at a 6.67% CAGR during the forecast period. The market size is forecasted to be worth USD 10.78 billion by 2028 and USD 7.80 billion in 2023. There has been a rapid increase in the use of dermal fillers in dermatology aesthetic practice.

Dermal Fillers Market Share Insights:

• Based on the product, the biodegradable fillers segment has emerged as a dominant segment and covered 82% of the market share in 2022.
• Based on the therapeutic area, the deep facial lines and wrinkles segments captured most of the global market share in 2022.
• The North American market occupied the largest share of the global market in 2021 and is expected to be worth USD 3.35 billion by 2027.
• The Asia Pacific market had a considerable share of the global market in 2021 and is projected to grow at the highest CAGR of 8.61% during the forecast period.

Dermal fillers are believed as an efficient way to enhance facial aesthetics with minimal downtime by many people. However, physicians must consider the individual characteristics of each patient and available filler when making treatment selections. While adverse events are rare, serious complications can result. The ability of the physician to handle rare adverse events and accurately identify the etiology of the complication ensures that the patient receives the best possible care. To prevent the number of adverse effects, the practitioner must choose the right product, perform the correct procedure, and inject with skill. The dermal filler technique is cost-efficient compared to the available surgical procedures. In addition, the dermal filler has applications other than aging, such as HIV-induced facial lipoatrophy, in the treatment of paralyzed vocal cords and enhancement of the dorsal area of the hand.

MARKET DRIVERS:

The rising adoption of aesthetic or cosmetic devices in developed countries is becoming more common, favoring global dermal fillers market growth.

The FDA recommends that all dermal filler packets be thoroughly inspected for authenticity. In March 2017, July 2018, and October 2018, the FDA became aware of counterfeit products being sold and used in the United States, reported by FDA. With growing awareness of cosmetic anti-aging processes and the rise in the prevalence of minimally invasive surgeries throughout the forecast period, the market is expected to grow lucratively. Moreover, the emergence of technologically advanced and user-friendly products coupled with other factors, such as increasing social acceptance for aesthetic products and the expansion strategies of market players in emerging countries, are expected to drive market growth over the coming years.

The growing aging population worldwide is further fuelling the growth rate of the global dermal fillers market.

The growing geriatric population behaves as a rendering factor of high impact on the expansion of the industry. Increasing numbers of older people undergoing dermal filler therapy should increase business growth to restore lost volume and elevate sagging skin. According to WHO, there will be 1.5 billion people above 60 in 2050. For example, although France probably takes 150 years to adjust to a shift from 10% to 20% of the population over 60, Brazil, China, and India would take slightly less than 20 years. A growing number of facilities and professionals in developing countries. Due to growing awareness about dermal fillers, a government initiative in developing countries like India, China, Japan, etc. Increasing medical tourism, coupled with increasing consumer spending power.

The growing usage of Hyaluronic acid (HA) among people propels the dermal fillers market growth.

The key market players are working on new and more advanced techniques to improve the treatment and expand the product portfolio as the treatment lasts for 6 to 12 months, which is expected to drive the dermal filler market growth. In addition, there is an increasing demand for youth, and aesthetic facial skin is one of the market drivers.

In addition, factors such as growing demand for non-invasive procedures for beauty appearance, increasing adoption of technological developments to manufacture adequate and safer dermal fillers, growing awareness and adoption of dermal fillers in multiple countries, increasing disposable income among people in the developed and developing countries are anticipated to fuel the growth rate of the global dermal fillers market.

MARKET RESTRAINTS:

Side effects associated with the usage of dermal fillers are one of the significant factors limiting the adoption of dermal fillers and hampering the market growth. Using dermal fillers carries the same risks as any other medical procedure. It's essential to be aware of their limitations and potential dangers. Using dermal fillers may cause infection, redness, swelling, pain, and tenderness in or under the skin (nodules or granulomas). The high cost of aesthetic surgeries is anticipated to impede the growth of the dermal fillers market. In addition, the incidence of unregistered practitioners is expected to impact the dermal fillers market in the future negatively. The rising number of complications post events. Stringent regulatory procedures can hamper the market for dermal fillers, which is estimated to be a restraining factor for the dermal fillers market.

Impact of COVID-19 on the global dermal fillers market:

The COVID-19 pandemic has had a negative impact on the growth of the dermal fillers market. Many governments worldwide have taken necessary steps such as lockdowns, social distancing, temporary shutdown of businesses, and bans on traveling to reduce the spread of the coronavirus. Due to these initiatives, the supply chain ecosystem has been disrupted, negatively impacting the dermal fillers market. In addition, the closure of aesthetic clinics, cancellation of events, and reduced social interactions have further reduced the demand for dermal fillers and related services and resulted negatively in market growth. Likewise, the dermal fillers market has had an unfavorable impact on the COVID-19 pandemic. However, now that the world is recovering from the COVID-19 pandemic, the global dermal fillers market is estimated to recover quickly from the negative impact and register a healthy CAGR during the forecast period.

REPORT COVERAGE:

This market research report on the global dermal fillers market has been segmented and sub-segmented based on the product, therapeutic area, and region.

Dermal Fillers Market - By Product:

• Absorbable or Biodegradable
• Non-Absorbable or Non-Biodegradable

Based on the product, the biodegradable fillers segment had the largest market share of about 82% in 2022, and it predicted it would continue the same trend in the coming years. It is due to the porous assets. In addition, the rise in the demand to improve the quality of treatment procedures is escalating market growth.

The non-biodegradable segment is estimated to present a CAGR of 9.2% during the forecast period. Furthermore, these non-absorbable fillers' outcomes can be seen for 6-24 months. Therefore, the market postulate for non-absorbable will show sufficient growth in the forthcoming years.

Dermal Fillers Market Analysis - By Therapeutic Area:

• Wrinkles
• Deep Facial Lines
• Sagging Skin
• Scars

Based on the therapeutic area, the deep facial lines and wrinkles segments accounted for most of the dermal fillers market share in 2022. These segments are also anticipated to showcase a promising CAGR during the forecast period. Factors such as the growing aging population across the globe and increasing demand for cosmetic surgeries propel the segment's growth rate. In addition, the rising adoption of non-invasive cosmetic treatment procedures among aging to treat aging signs such as wrinkles and fine lines is boosting segmental growth. In addition, increasing adoption of sedentary lifestyles and changing food habits further contribute to the segment's growth. Furthermore, the growing influence of social media and celebrities regarding the products and services of beauty appearance is anticipated to have a favorable impact on the segment's growth rate.

On the other hand, segments such as sagging skin and scars are predicted to witness a healthy CAGR and hold a considerable share of the global dermal fillers market in the coming years.

Dermal Fillers Market Analysis - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Regionally, the North American dermal fillers market accounted for the largest share of the global market in 2021, and the region’s domination is anticipated to continue during the forecast period. Factors such as the growing demand for non-invasive cosmetic procedures and the increasing need for a less complex, painful, and long-lasting process drives the North American market. In addition, dermal filler comes under the U.S. FDA, which has reduced the risk factor related to the overuse of chemicals. This has increased awareness about the advantage of dermal fillers, propelling the growth rate of the dermal filler market. In addition, there is an increasing number of aged people in this region due to the excellent mortality rate, and the low cost of the procedure is boosting the market growth in this region.

The European dermal fillers market occupied the second-largest share of the worldwide market in 2021 and is predicted to showcase a promising share during the forecast period. The growing geriatric population, the increasing need for advanced techniques, and ongoing clinical trials majorly drive the growth of the European market. In addition, rising awareness of dermal fillers and increasing beauty consciousness among women in Europe are promoting regional market growth, Furthermore, with the increasing geriatric rate and availability of procedures at low cost, there are 140 filters in the market, escalating the market. In addition, the fillers are non-prescription medicine in Europe, another major factor leading to the market's growth.

The Asia-Pacific dermal fillers market is projected to register the fastest CAGR among all the regions in the worldwide market during the forecast period. The awareness among the population of APAC countries is growing rapidly regarding minimally invasive cosmetic treatments, which is expected to boost regional market growth. In addition, increasing disposable income among the population of APAC countries such as China, India, Japan, and South Korea is estimated to fuel the growth rate of the APAC dermal fillers market.

The Latin America dermal fillers market is predicted to witness a steady CAGR during the forecast period owing to the rapid adoption of cosmetic procedures.

The dermal fillers market in MEA is estimated to hold a moderate share of the worldwide market in the coming years.

KEY MARKET PARTICIPANTS:

Companies such as Allergan Inc., AQTIS Medical, Bio ha Laboratories, Suneva Medical, Galderma, Merz Aesthetics, Cynosure, Syneron, and Cytophil Inc. are playing a leading role in the global dermal fillers market. 

RECENT MARKET DEVELOPMENTS:

• In November 2022, Precision Dentistry announced new dermal filler services in Columbia.
• In May 2020, the US FDA approved Galderma's Restylane Kysse for lip augmentation and correction of upper perioral rhytids in adults over 21.
• Merz launches new Belotero Revive dermal filler. It is a combination of hyaluronic acid and glycerol design that improves the hydration and firmness of the skin.
• In February 2020, BioScience GmbH launched a new line of injectables. The range contains two products, Hyaprof soft and Hyaprof balance.
• In January 2020, Revance Therapeutics signed a distribution agreement with TEOXANE SA to distribute a range of dermal fillers, and their innovative Resilient Hyaluronic Acid contains products like RHA2, RHA3, and RHA4.   
• In April 2018, Merz Aesthetics launched Belotero Lips, specifically designed to treat perioral lines effectively and safely.