Acknowledging the value this market is garnering currently and the growth prospect the market is demonstrating worldwide, Market Research Future (MRFR), recently published a brilliant study report giving out the complete market prognosis up till 2023. According to MRFR, the Global Dermal Fillers market is expected to accrue USD 10,008.4 Mn. by 2023, registering ~12.5% CAGR during the forecasted period (2017 -2023).
Augmenting demand for Dermal Fillers treatments and the introduction of advanced technology in the facial rejuvenation industry predominantly drives the global market growth. The growth of the medical tourism market and formation of tourism clusters such as Miami, Bangkok, etc. has not only provided exposure to Dermal Fillers but have also created a high point demand for these treatments.
Additional factors such as the growing population, the geriatric populace and urbanization worldwide are fueling the market growth. Evidently, improving economic conditions that enable access to the quality life & the improved healthcare worldwide are the key driving force, providing impetus to the market growth. Moreover, factors such as the growing prevalence of obesity, accidents, along with the growing number of Dermal Fillers hospitals and the safety margin these facilities offer, in turn, fuel the market growth.
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Key Players for Global Dermal Fillers Market
Dr. Korman Laboratories, ALLERGAN, Teoxane Laboratories, GALDERMA, Merz Pharma, Integra Lifesciences, and Sinclair Pharma are the eminent players in the global dermal fillers market.
The highly competitive market of dermal fillers appears to be diversified with the presence of a large number of players having a global presence. These players are adopting strategic initiatives such as expansion, and product Launch to gain the competitive edge and are tapping the growing markets for expansions.
Leverage to the rising cases of side effects or resistance, players are focusing on innovative products and procedures that would have minimal adverse effects. Also, growth opportunities in the market are encouraging these players to target emerging applications.
Industry Updates
In December 2018, Silk Inc. announced the development of a sustainable dermal filler. The company’s new activated silk technology is made from silkworm cocoons and is meant to be a more biocompatible and eco-friendly as compared to traditional or alternative acid fillers.
October 03, 2018 – Allergan, Inc. (Ireland), a leading global leader in developing, manufacturing and commercializing branded pharmaceuticals, devices, biologics, surgical and regenerative medicine products launched a new advertising campaign for its product – JUVÉDERM which is a dermal filler collection.
Segments for Global Dermal Fillers Market
The MRFR analysis is segmented into four key dynamics for the convenience of the report and enhanced understanding;
By Types : Botulinum Toxin, Hyaluronic Acid, Polymers & Particles, and Collagen among others.
By Applications: Facial Line Correction Treatment, and Face-Lift, Lip Treatments, among others.
By Regions: North America, Europe, APAC and Rest of the World.
Regional Analysis for Global Dermal Fillers Market
Geographically, North American regions account for the leading market for dermal fillers followed by the European and Asia Pacific region, respectively. The dermal fillers market in this region is heading with the support of the US market which is growing significantly backed by the high spending and growing uptake of dermal fillers.
In 2016, the US dermal fillers market had valued at USD 1,074.0 MN. witnessing, substantial investments in R&D activities and technologically advanced products. The dermal fillers market in North America is expected to reach over 3,700 Mn. USD by 2023.
The European region, accounting for the second-largest market for dermal fillers witnesses a substantial growth due to high per capita income and strong healthcare penetration in the region. The strong market growth in countries such as Germany & France drives the growth of the regional market to an extent. Backed by the wide uptake of new products and advanced therapies, the European dermal fillers market is estimated to evaluate at 10,000 MN USD by 2023.
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The dermal fillers market in the Asia Pacific region has emerged as one of the promising markets, globally. Factors such as spreading awareness towards these aesthetic treatments, and improving per capita income are substantiating the market growth. India and China backed by the ever-increasing population, economic growth, and the burgeoning medical treatment market account for the major contributing economies across the region.
Furthermore, South East Asian countries such as Vietnam, Malaysia, and Thailand are significantly contributing to the growth of the regional market with their burgeoning medical tourism markets.
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