AESTHETIC FILLERS MARKET ANALYSIS

The global aesthetic fillers market was valued at US$ 2,474.5 Mn in 2021 and is forecast to reach a value of US$ 4,927.4 Mn by 2028 at a CAGR of 10.3% between 2022 and 2028. The global aesthetic fillers market is experiencing strong growth due to the increasing demand for facial aesthetics across the globe. Moreover, increase in number of cosmetic procedures and increase in attention on facial aesthetics among older population is expected to boost the growth of the market. However, high cost of aesthetic procedures/surgeries and side effects associated with aesthetic fillers are major factors expected to hamper growth of the market.

Global Aesthetic Fillers Market: Regional Insights

Based on geography, the global aesthetic fillers market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing demand for facial injectables and growing geriatric population in the region (in the U.S. and Canada). For instance, the popularity of dermal fillers has grown rapidly in recent years as they provide rejuvenating and enhancing aesthetic improvements that previously could only be achieved with surgery. According to the U.S. Census Bureau, in 2020, about 16.9 percent of the US population was 65 years old or over, and the number is expected to reach around 22 percent by 2050.

Asia Pacific is also expected to witness robust growth in the global aesthetic fillers market due to the increasing focus on the physical appearance and increase in demand for facial injectable treatment. For instance, facial injectables are crucial in anti-aging treatments and particularly used to stop damage like hyperpigmentation and early aging. As a result, people in this region are increasingly focusing on their physical appearance, which in turn is expected to increase demand for aesthetic fillers in this region.

Figure 1. Global Aesthetic Fillers Market Share (%), by Region, 2021

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Global Aesthetic Fillers Market Drivers:

Increase in the number of cosmetic procedures, such as face lifts, breast augmentation, wrinkle removal, and lip treatments, across the globe is expected to augment the growth of the global aesthetic fillers market over the forecast period. Dermal fillers, lip and facial fillers, soft tissue fillers, or wrinkle fillers are approved by the U.S. Food and Drug Administration (USFDA) for use in helping to create a smoother and/or fuller appearance in the face, including nasolabial folds (lines on either side of the mouth that extend from the edge of the nose to the mouth's outer corners), chin, lips, cheeks, and back of the hands.

Increase in attention on facial aesthetics among older population is expected to boost growth of the global aesthetic fillers market over the forecast period. For instance, aesthetic fillers are crucial in anti-aging treatments and particularly used to stop damage like hyperpigmentation and early aging. Thus, with the rise in geriatric population around the world, the use or demand for aesthetic fillers is also increasing. According to the United Nations, there were 703 million persons aged 65 years or over in the world in 2019. The number of older persons is projected to reach around 1.5 billion in 2050.

Global Aesthetic Fillers Market Opportunities:

Increasing demand for facial aesthetics around the world is expected to offer lucrative growth opportunities for players in the aesthetic fillers market. For instance, facial aesthetic treatment is a non-surgical procedure that deals with skin lifting and skin smoothening, especially that of the face. As a result, the demand for aesthetic fillers had increased across the globe. According to the American Society of Plastic Surgeons Report 2020, around 123,685 face lift procedures were performed across the globe in 2019.

Rising acceptance of tissue fillers or rise in use of tissue fillers is expected to provide significant growth opportunities for players in the global aesthetic fillers market. For instance, soft tissue fillers can be used to restore a semblance of youth through the replacement of lost tissue volume and the filling and effacement of coarse wrinkles. According to the American Society of Plastic Surgeons, in 2019, around 37% of soft filler injection were used for treatment of various skin conditions such as wrinkles, skin ageing, and face lift procedures worldwide.

Global Aesthetic Fillers Market Trends:

One of the most prevalent trends in the aesthetic fillers market is that almost all demographic groups have shown inclination/interest in these non-invasive or minimally invasive procedures. People across the globe are increasingly adopting such procedures to enhance their appearance. Thin is turn ise expected to increase the use of aesthetic fillers across the globe, and this trend is expected to continue during the forecast period.

Moreover, the growth of the market can be attributed to the increasing trend of using anti-aging treatments and increasing focus on the physical appearance. Worldwide, there has been a rising trend of aesthetic procedures. This is majorly attributed to the increase in demand for a much younger lifestyle and advancements done in the procedures, which provides better outcomes. This in turn is also expected to aid in the growth of the market.

Global Aesthetic Fillers Market Restraints:

High cost associated with aesthetic procedures/surgeries is expected to hamper growth of the global aesthetic fillers market. The top cosmetic or aesthetic surgeries are facelift, liposuction, breast augmentation, nose reshaping, eyelid surgery, and tummy tuck. Average cost of a facelift is US$ 8,005, according to the American Society of Plastic Surgeons. Facelift surgery cost in India ranges between US$ 2800-3500 (INR 214,925 – 268,657).

Side effects associated with aesthetic fillers is expected to hinder growth of the global aesthetic fillers market. For instance, some side effects associated with dermal fillers include redness and swelling, which may be experienced after the procedure is completed and continue for several days or weeks after receiving permanent implants.

Figure 2. Global Aesthetic Fillers Market Share (%), by Product Type, 2021

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Global Aesthetic Fillers Market Segmentation:

The aesthetic fillers market report is segmented into Product Type, Material Type, Application, and Geography.

Based on Product Type, the market is segmented into Absorbable and Non-absorbable. Out of which, Absorbable Segment is expected to dominate the global aesthetic fillers market over the forecast period and this is attributed to the rise in number of cosmetic procedures around the world. Absorbable aesthetic fillers are used for the correction of moderate to severe facial wrinkles and skin folds, such as nasolabial folds (smile lines).

Based on Material Type, the market is segmented into Polymers and Particles, Collagen, and Hyaluronic Acid. Out of which, Polymers and Particles Segment is expected to dominate the aesthetic fillers market over the forecast period and this is attributed to the increase in number minimally invasive procedures or increase in preference for minimally invasive procedures. There has been a massive increase in the number of minimally invasive procedures in recent years. Polymers and particles are widely used in these procedures.

Collagen Segment is also expected to witness significant growth in the near future and this is owing to the increase in demand or use of aesthetic fillers around the world. Collagen injections are used to manage imperfections in the facial skin, including wrinkles, acne scars, laugh lines, crow’s feet, and creases, among others.

Based on Application, the market is segmented into Facial Line Correction and Wrinkles, Face Lift, Lip Treatment, and Other Applications. Out of which, Facial Line Correction and Wrinkles Segment is expected to dominate the aesthetic fillers market over the forecast period and this is attributed to increase in demand for facial aesthetics. With the increase in geriatric population, the demand for facial aesthetics is also increasing rapidly.

Face Lift Segment is also expected to witness significant growth in the near future and this is owing to the increasing focus on the physical appearance. A face-lift is the cosmetic procedure to create a younger look in the face. A facelift can involve removing excess skin, smoothing out folds or wrinkles, and tightening facial tissue

Global Aesthetic Fillers Market: Key Developments

In June 2020, AbbVie (Allergan Aesthetics) received the Food and Drug Administration (FDA) approval for its product JUVÉDERM VOLUMA XC for the augmentation of the chin region to improve the chin profile in adults over the age of 21.

In March 2020, Sinclair Pharma (Sinclair) announced exclusive worldwide licence agreement for ground-breaking range of injectable hyaluronic acid products.

In April 2019, Merz announced the launch of Belotero Revive, a dermal filler containing a unique combination of hyaluronic acid and glycerol, designed to improve hydration, elasticity, and firmness of the skin and to address the appearance of fine lines.

Global Aesthetic Fillers Market: Key Companies Insights

The global aesthetic fillers market is highly competitive. This is attributed to the increase in attention on facial aesthetics among older population, as a result, market players are focusing on launching novel products in the market.

Some of the key players in the global aesthetic fillers market are Teoxane Laboratories, Suneva Medical Inc., Sinclair Pharma, Merz Pharma, Laboratories Vivacy SAS, Vital Esthetique, Galderma Pharma SA, and Allergan PLC (Abbvie Inc.), among others.

*Definition: Aesthetic fillers are medical implants approved by the FDA to create a smoother and/or fuller appearance in the face, including nasolabial folds (the lines extending from the sides of the nose to the edges of the mouth), cheeks, chin, lips, and back of the hands.