Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Global Facial Injectable Market: Analysis By Type, By Application, By End User, By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global facial injectables market witnessed substantial growth in 2022, reaching a valuation of US$7.81 billion, and is poised to further expand, projected to attain US$15.93 billion by 2028. This robust growth is anticipated to be driven by a remarkable compound annual growth rate (CAGR) of 12.60% during the forecast period from 2023 to 2028.
The facial injectables segment is a burgeoning sector within the medical aesthetics market, fueled by the increasing number of plastic surgeons and practitioners incorporating facial injectables into their offerings. Even surgeons have gained FDA approval for administering face injectables in their practices. The market is expected to flourish as the elderly population grows, and innovative facial injectables like synthetic calcium hydroxylapatite (CaHA) fillers become available, contributing to the market's expansion.
Market Segmentation Analysis highlights key insights into the facets of this market. Segmented by Type, the global facial injectables market encompasses Derma Fillers and Neuromodulator Aesthetics. Derma Fillers dominated the market share in 2022, riding the wave of the ageless beauty trend and the desire to maintain youthful appearances. Moreover, this segment is poised for the fastest CAGR growth, driven by dual-income households and increasing disposable incomes across both developing and developed nations, foretelling a surge in dermal filler market expansion.
Further, Applications categorize the market into Facial Line Correction, Face Lift, Lip Treatment, and Others. The Facial Line Correction segment led in 2022, driven by the aging senior population's demand for treatments that address facial lines. The Face Lift segment, however, is projected to experience the fastest CAGR, reflecting the global population's aspiration for more distinct and appealing facial aesthetics.
Examining End Users, the market divides into Hospitals and Medspa, Dermatology and Cosmetic Centers, and Others. Hospitals and Medspa captured a significant market share in 2022, aligning with regulatory standards and physician ownership. Dermatology and Cosmetic Centers, expected to witness the highest CAGR in the future, are driven by affordability, elevating demand for facial injectables and attracting a growing number of patients.
Regionally, North America reigned supreme in the facial injectables market during 2022, attributing its dominance to increased awareness of aesthetic procedures, advancements in cosmetic techniques, notable market competition, a burgeoning elderly population, and a rising preference for non-invasive aesthetic interventions.
With new product releases expected from prominent industry players in North America during the forecast period, the market is set to further blossom. The US leads the North American market, witnessing key product launches, a dense concentration of market players, strategic acquisitions and partnerships, and a growing demand for non-surgical aesthetic procedures.
Furthermore, the Asia Pacific region emerges as a hotbed for market growth, propelled by factors such as rising disposable incomes in Asian countries, growing awareness of aesthetic procedures, and prominent market players' focus on launching new products
China, in particular, holds dominance within Asia Pacific, witnessing a surge in face injectables due to consumers' desire for enhanced features and the expansion of private aesthetics chains.
Global Facial Injectables Market Dynamics:
Growth Drivers: As people strive to retain a youthful and revitalized appearance without having invasive surgery, these therapies have grown in popularity. The rise in disposable money is a major factor driving the growth of the facial injectables market.
As many countries' economies and living conditions have improved, customers have more money available for discretionary spending, including cosmetic operations. Further, the market is expected to increase due to increasing geriatric population, increasing beauty consciousness among people, growing healthcare expenditure, shift in consumer preference for minimally invasive procedures, etc.
Challenges: The market's expansion is projected to be hampered by adverse effects associated with certain facial injectables. Adverse effects of some other facial injectables, such as hyaluronic acid, include legal & regulatory issues, and safety concerns, which are anticipated to impede the market growth.
There are certain adverse effects that are associated with application of hyaluronic acid cycles, such as itching and inflammation. The repetitive pain associated with multiple injection cycles is also a deterrent. The other challenges that facial injectables market faces include stringent regulators and costly treatments, etc.
Trends: One of the most distinct and pervasive trends observed in the global facial injectables market is that a growing proportion of the male population is predicted to use facial injectables. During the forecast period, the male population is likely to use a variety of fillers, including Botulinum toxin and dermal fillers.
For example, a rising number of younger men are opting for tissue fillers before their skin begins to age. More trends in the market are believed to augment the growth of facial injectables market during the forecasted period include, new product launches and emerging markets, innovation, etc.
Competitive Landscape and Recent Developments:
Global facial injectables market is moderately fragmented, with AbbVie dominating the market due to the company's strong facial injectables portfolio comprising dermal fillers and Botulinum toxin for cosmetic procedures. AbbVie is the market leader in the US with approx. 80% revenue share and high-60s volume share in neuromodulators.
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance in May 2023, Evolus, a company, announced entry into the US dermal filler market with the introduction of Evolysse. This first-generation cold technology hyaluronic acid (HA) product, developed by Symatese, marks a significant expansion for Evolus.
Additionally, Evolus has a portfolio of five fillers currently in late-stage development, with the anticipation of the first approval in the first half of 2025. In January 2023, Galderma unveiled a revolutionary solution called FACE by Galderma, aimed at assisting healthcare professionals in expanding their practice and enhancing patient satisfaction. This cutting-edge augmented reality application employs digital facial assessment to simulate the outcomes of injectable treatments in real time.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 166 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $8.8 Billion |
| Forecasted Market Value (USD) by 2028 | $15.93 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
Market Dynamics
Growth Drivers
- Increasing Geriatric Population
- Amplified Disposable Income
- Rising Social Media Influence
- Growing Healthcare Expenditure
- Increasing Beauty Consciousness among People
- Shift In Consumer Preference For Minimally Invasive Procedures
Challenges
- Adverse Effects Associated With Certain Facial Injectables
- Stringent Regulators
- Costly Treatments
Market Trends
- New Product Launches
- Increased Male Aesthetics
- Emerging Markets
- Innovations
Key players of global facial injectables market are:
- AbbVie Inc. (Allergan Inc.)
- Ipsen
- Revance Therapeutics, Inc.
- Croma-Pharma GmbH
- Merz Pharma GmbH & Co. KGaA
- Suneva Medical Inc.
- Medytox Inc.
- Sinclair Pharma Plc
- Prollenium Medical Technologies Inc.
- Galderma S.A.
- Evolus, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/t02ra6
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