Aesthetic fillers are approved by the U.S. Food and Drug Administration (FDA) to help 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, cheeks, lips, and back of the hands. Aesthetic fillers, such as dermal fillers, help diminish facial lines and restore volume and fullness in the face. Dermal fillers are a cornerstone of the aesthetic treatments of the face. Dermal fillers are injections that plump up wrinkles and smooth lines on the face. The demand for aesthetic injectable has increased in the past few years as a result of customers' increasing emphasis on beauty.
Market Statistics:
The global aesthetic fillers market is estimated to account for US$ 2,728.9 Mn in terms of value by the end of 2022.
Drivers:
Increasing demand for aesthetic fillers and growing geriatric population worldwide is expected to aid in the growth of the global aesthetic fillers market over the forecast period. For instance, dermal fillers, often made of hyaluronic acid, are commonly known to reduce the appearance of facial lines and restore volume and fullness to the face. In October 2021, A.Menarini planned to launch a range of hyaluronic acid based dermal fillers. The new range will be produced with Menarini’s XTR Technology, fillers with unique rheological characteristic will support diverse indication of clinical use for facial volume restoration, hydration, and rejuvenation.
Opportunities:
Increase in demand for facial aesthetics, especially form older population, is expected to offer significant growth opportunities for players in the global aesthetic fillers market. Facial fillers are substances injected into the skin to smooth wrinkles and make them less noticeable. Dermal fillers are used for cosmetic purposes and are meant to give volume and fullness to the skin. Thus, with the growing geriatric population, the demand for facial aesthetics is also increasing. In June 2022, Croma Aesthetics Canada Ltd. launched saypha VOLUME PLUS, a hyaluronic acid dermal filler product specifically designed to restore facial volume.
To know the latest trends and insights prevalent in the Global Aesthetic Fillers Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/aesthetic-fillers-market-5267
Restraints:
Side effects associated with aesthetic fillers and high cost of aesthetic procedures/surgeries are major factors expected to hamper the growth of the global aesthetic fillers market. For instance, Injectable fillers are normally well tolerated by patients with little or no adverse effects. The most common side effects include swelling, redness, bruising, and pain at the injection site. As per the American Society of Plastic Surgeons, the average cost of a facelift is US$ 8,005.
However, as the usage of dermal fillers is expanding, complications related to these procedures have also been increasing with time.
Global Aesthetic Fillers Market - Impact of Coronavirus (Covid-19) Pandemic
Outbreak of COVID-19 resulted in reduced public mobility and had a significant impact on the global aesthetic fillers market, as surgical procedures were postponed to reduce the burden on healthcare infrastructure. According to the American Society of Plastic Surgeons, the Society board-certified plastic surgeons reported they stopped performing elective surgical procedures for an average of 8.1 weeks in 2020 due to COVID-19, or 15 percent of the year, which mirrors the decline in the total number of procedures performed last year. In short, the pandemic had a negative impact on the growth of the aesthetic fillers market.
Key Takeaways:
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.
Among product type absorbable segment held dominant position in the global aesthetic fillers market in 2021, accounting for 91.7% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
Growing trend of using anti-aging treatments and rise in acceptance of aesthetic fillers along with increasing number of aesthetic surgeries is giving rise to several market growth activities. For instance, in December 2021, the U.S. Food and Drug Administration (FDA) approved RHA Redensity, a new dermal filler to reduce the appearance of wrinkles. RHA Redensity, produced by Swiss hyaluronic acid product manufacturing company Teoxane, can be used to reduce moderate to severe wrinkles in adults aged 22 years or older.
Competitive Landscape:
Major players operating in the global aesthetic fillers market include Teoxane Laboratories, Suneva Medical Inc., Sinclair Pharma, Merz Pharma, Vital Esthetique, Galderma Pharma SA, Laboratories Vivacy SAS, and Allergan PLC (Abbvie Inc.), among others.
Recent Developments:
In May 2020, Galderma received Food and Drug Administration (FDA) approval for Restylane Kysse, a new hyaluronic acid (ha) filler specifically designed and indicated to add fullness to the lips and help smooth the wrinkles above the mouth.
In April 2019, Allergan announced the launch of Juvéderm VOLUX, the latest evolution in facial filler treatments for those seeking a more defined chin and jawline.
