The growing elderly population is driving up demand for dermal filler procedures and the market's expansion. For instance, 3.2 million minimally invasive aesthetic treatments were carried out in the U.S. in the age range of 55 to 69 years in 2020, according to a data released by the American Society of Plastic Surgeons. The market is growing as a result of technological developments in medical aesthetic products. Also, a rise in young people's self-awareness regarding physical attractiveness fuels the need for facial aesthetics treatments. Moreover, an increase in sedentary lifestyle has contributed to early ageing and made people more aware of their appearance, necessitating the use of dermal fillers. However, it is projected that the procedure's acceptance will be constrained throughout the forecast period due to the high prices associated with dermal filler procedures including fat face and polymethyl-methacrylate microspheres.
RECESSION IMPACT
Like with any industry producing luxury items, the dermal filler market can be significantly impacted by a recession. Dermal fillers may become less popular if customers cut back on discretionary expenditure during a recession. Dermal fillers are frequently regarded as a cosmetic luxury, which may cause people to prioritise spending on necessary goods and services. The loss of a job or a reduction in income during a recession can also affect a person's ability to pay for cosmetic procedures. Furthermore, many cosmetic procedures, such as dermal fillers, are not frequently covered by health insurance, which can make them less affordable for people who are already struggling financially.
DRIVING FACTORS
Increased Demand for Minimally Invasive Cosmetic Treatments Will Drive Market Growth
The sharp rise in demand for facial aesthetics is one of the most important market factors influencing the expansion of the global market. For a young appearance and healthy visage, people have recently sought out simpler and more painless procedures. Since invasive cosmetic procedures frequently have a lot of dangers and also require the patient to take extra time to recover from the procedure, In the United States, there were over 13.2 million cosmetic procedures performed in 2020, of which 3.4 million used soft tissue fillers, according to the American Society of Plastic Surgeons study. Such compelling data further demonstrates the sharp rise in demand for cosmetic operations. The producers of filler materials have benefited from the growth in demand for these kinds of aesthetic operations. To fulfil the rising need for medical aesthetics, a number of aesthetics-related businesses are introducing more and more goods.
RESTRAINING FACTORS
High Cost of Dermal fillers to Limit Market Growth
Many limiting constraints are anticipated to prevent the global market from expanding throughout the forecast period, despite the wide range of aesthetic applications. One of the main obstacles preventing the worldwide market from expanding is the hefty price tag attached to these products. The cost of the dermal filler may vary depending on the competence and credentials of the person administering the therapy, the kind of technique employed, and the amount of time and effort required for the process or treatment. The non-permanent nature of these products may also necessitate that the person choose repeated aesthetic procedures. As a result, the person's financial burden rises, making them less likely to choose these elective surgeries.
SEGMENTATION
By Type
Based on type, the dermal fillers market is segmented into hyaluronic acid (HA), calcium hydroxylapatite (CaHA), poly L lactic acid and others. The hyaluronic acid (HA) category dominated the market in 2022 because it is the industry's gold standard for dermal fillers. New product launches in this market category are also helping to fuel the segment's expansion. Hyaluronic acid-based products' rising popularity is largely due to their relative safety and longevity. The expansion of the market is also anticipated to be fueled by important companies, such as ALLERGAN (AbbVie, Inc.), that provide hyaluronic acid products in high-growing countries like Europe.
By Gender
Based on gender, the dermal fillers market is segmented into male and female. The disposable category dominated the market in 2022 due to a growth in the number of elderly women and a surge in the demand for facial line treatment among women. In contrast, the male market is anticipated to expand significantly throughout the projected period due to a rise in male population awareness of the availability of anti-aging treatments.
By Service Provider
Based on service provider, the dermal fillers market is segmented into specialty and dermatology clinics, hospitals and others. The Specialty and dermatology clinics category dominated the market in 2022. A significant number of aesthetic operations performed in dermatology and speciality clinics are responsible for the segment's dominance. The main driving force for the segment's expansion is this. Furthermore, because cosmetic operations like wrinkle removal don't require a hospital stay, these elements are predicted to assist the segment's growth.
REGIONAL INSIGHTS
North America is projected to hold the largest share of the dermal fillers market over the forecast period. Over the projected period, the region is anticipated to have the lion's share of the global market. Some of the factors contributing to this region's supremacy include its highly educated and economically secure populace as well as a considerably greater rate of cosmetic treatments carried out there. On the other hand, the Asia Pacific dermal fillers market is anticipated to grow significantly. The expansion of the market in the region is being driven by improvements in healthcare infrastructure in Asian nations, an ageing population, and rising personal awareness of physical appearance. Also, the market's expansion is fueled by leading companies' efforts to introduce their products in the major Asia Pacific nations.
LIST OF KEY COMPANIES PROFILED:
- AbbVie Laboratories
- Bioxis pharmaceutical
- Cutera Inc
- Elan aesthetics Inc
- Galderma SA
- Merz Pharma GmbH and Co. KGaA,
- Revance Therapeutics
- Sinclair Pharma
- Teoxane Laboratories
- Vital Esthetique Laboratories
- In March 2021, with a modified administration regimen, Galderma announced the re-launch of Sculptra (injectable poly-L-lactic acid) in Europe.
REPORT SCOPE AND SEGMENTATION
| Attributes | Details |
| Market Size in 2022 | USD 5.3 Billion |
| Market Forecast in 2030 | USD 7.9 Billion |
| Compound Annual Growth Rate | 7.10 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Gender, By Service Provider, and By Geography |
| By Type |
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| By Gender |
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| By Service Provider |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
