North America and Europe Dermal Fillers Market, by Product Type (Absorbable, Non-absorbable) By Ingredients (Hyaluronic acid, Poly-L-Lactic acid, Calcium Hydroxylapatite, Polymethylmethacrylate, Collagen), By Distribution channel (Retail pharmacies and drug stores, Clinics and Hospital pharmacies, Online sales), and by Region (North America, Western Europe, Eastern Europe) is estimated to be valued at US$ 2,223.0 Million in 2023 and is expected to exhibit a CAGR of 6.9 % during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The advent of newer dermal filler products is expected to provide lucrative growth opportunities for players. Thus, key market players are focused on adopting growth strategies such as research and development activities, which will drive the North America and Europe Dermal Fillers Market. For example, in February 22, 2021 Merz Aesthetics a U.S.-based aesthetic device company, launched New Belotero Balance (+) With Lidocaine, which is used to smooth moderate-to-severe etched-in facial lines and wrinkles in the lower face. Belotero Balance (+) offers the benefits of hyaluronic acid plus the advantages of a lidocaine formulation.
North America and Europe Dermal Fillers Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: the manufacturing and distribution of products due to lockdown, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Also due to social distancing, the procedures were reduced. Due to the lockdown, several countries faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the North America and Europe Dermal Fillers Market. This is because less manufacturing and demand of dermal filler products during pandemic situation. For instance, according to global revenue of Juvederm, a product of allergen aesthetics, a U.S.-based pharmaceutical company was reduced by 40.2 % in 2020 compared to previous year. Revenue in year 2020 was US$ 718 Mn while it was nearly US$ 1,243.7 Mn in 2019.
North America and Europe Dermal Fillers Market: Key Developments
Clinical trials carried out across the world are expected to boost market growth during the forecast period. For instance, according to data published on December 3, 2021, on clinical trial site of U.S. National Library of Medicine, currently clinical trials are being carried out by Dr. Korman Laboratories Ltd., an Israel based aesthetic medicine company on Safety and Performance of Depolymerized kraft lignin Crosslinked Sodium Hyaluronate 23 Dermal Filler for improvement of nasolabial fold Appearance, which started in 2021.
Browse 21 Market Data Tables and 19 Figures spread through 140 Pages and in-depth TOC on “North America and Europe Dermal Fillers Market”- Forecast to 2030, North America and Europe Dermal Fillers Market, by Product (absorbable and non-absorbable) and Ingredients, (Hyaluronic acid, Poly-L- Lactic acid, Calcium Hydroxylapatite, Polymethylmethacrylate, Collagen), by Distribution channel (Retail pharmacies and drug stores, clinics and hospital pharmacies, and online sales) and by Region (North America, Western Europe, Eastern Europe)
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Key Takeaways of the North America and Europe Dermal Fillers Market:
- The North America and Europe Dermal Fillers Market is expected to exhibit a CAGR of 6.9% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the North America and Europe Dermal Fillers Market. For instance, On February 8, 2021 CollPlant, an Israel-based biotechnology company, announced development and global commercialization agreement with Allergan Aesthetics, an Ireland-based company for rhCollagen in dermal and soft tissue filler products.
- Among ingredients, the hyaluronic acid segment is expected to grow in the North America and Europe Dermal Fillers Market over the forecast period. This is due to approval of newer Hyaluronic acid based products by U.S. FDA. For instance, in August 2022, JUVÉDERM VOLUX XC , a hyaluronic acid (HA) filler to receive U.S. FDA approval for improving jawline definition.
- Among region, North America is expected to be the dominant region in the North America and Europe Dermal Fillers Market , owing to the increasing research and development activities. For instance, Galderma Receives U.S. FDA Approval For Restylane Kysse, A New Hyaluronic Acid (HA) filler designed and indicated to add fullness to the lips and help smooth the wrinkles above the mouth.
- Major players operating in the North America and Europe Dermal Fillers Market include Galderma Pharma S.A., Sinclair Pharma plc., Allergan Plc., Anika Therapeutics Inc., Merz Pharma GmbH & Co. KGaA, Suneva Medical Inc., Teoxane Laboratories Inc., Prollenium Medical Technologies Inc., Adoderm GmbH, and Laboratoires Vivacy SAS.
