Dermal Fillers Market to Surpass USD 10 Bn in 2023
05 Feb 2018 • by Natalie Aster
LONDON – The demand for dermal fillers is witnessing stable increase all over the world owing to rising trend of anti-aging treatments along with enhancing consumers’ desire to look younger. These surgical procedures enjoy the highest popularity amid female population: nearly 91% of all facial injectable surgeries are performed on women. However, male population also shows signs of rising interest towards dermal fillers, therefore, the number of facial injectable surgeries performed on men is registering moderate increase.
Moreover, dermal fillers find application in several treatment areas, for instance, enhancement of the dorsal area of hand, acne scars, HIV induced lipoatrophy of face, to name a few. Furthermore, the usage of dermal fillers in the field of paralysed vocal cords treatment is also under consideration for approval from the FDA. In this wake, the demand for application-specific product modules also performs as a driver of the dermal fillers market growth.
Numerous people from pole to pole are keen on being beautiful owing to their favourable social repercussions and also spend large sums on facial injectables to maintain their youthfulness alive, this presents one of the major factors stimulating growth in the facial injectables market. Elevating demand for minimally invasive surgeries (due to its fast wound healing property) and undeniable visible effects of dermal filler treatments are also driving the market growth. Still, there is also a range of significant challenges, for instance, some side effects associated with existing facial injectables, high costs of such surgeries, strict regulations, amidst others.
The world’s market for dermal fillers is projected to surpass the USD 10 billion mark in value terms by the year 2023, exhibiting robust growth at a 12.5% CAGR.
Top Performing Segments of Global Dermal Fillers Market
On the basis of types, the overall dermal fillers market is currently led by the Botulinum Toxin segment. This segment is anticipated to account for a share of around 47.5% by late 2023. Furthermore, it is predicted to rise at a 12.1% CAGR during 2018-2023 to exceed the value of USD 4.55 billion.
As for applications, the world’s dermal fillers market is dominated by the Facial Line Correction Treatment segment, which grabbed a share of 44.2% in 2016 and was estimated at nearly USD 1.92 billion. From 2018 to 2023, the Facial Line Correction Treatment segment is forecast to grow at a 12.3% CAGR to cross USD 4.27 billion.
Americas Command Largest Share of Global Dermal Fillers Market
At present, Americas present the leading regional market for dermal fillers. In 2016, Americas held a share of around 39.2% of the world’s dermal fillers market and was evaluated at appr. USD 1.75 billion. Through to 2023, this regional market is poised to witness sustainable growth at a 11.8% CAGR to go beyond the value of USD 3.76 billion.
Meantime, the highest growth rates worldwide are expected in the APAC dermal fillers market, which is forecast to rise at a 13.1% CAGR over 2018-2023.
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