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Facial Aesthetics Market, Size, Share, Opportunities and Forecast, 2020-2027

 



(PharmaNewsWire.Com, June 25, 2020 ) Market Overview
• The Global Facial Aesthetics Market is expected to grow at a high CAGR of 21.0% during the forecasting period (2020-2027).
• The rising R&D initiatives in the aesthetics industry and the recent regulatory approvals are driving the growth of the market. Also, the high proportion of the geriatric population and the rising patterns of early aging due to environmental factors such as pollution are contributing to the global facial aesthetics market. The popularity of dermal fillers has grown rapidly in recent years as they rejuvenate and enhance the aesthetic improvements previously only achievable with surgery, but at lower cost and with limited-to-no recovery time.

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Market Dynamics
• The growing concern of people about their appearance is gradually increasing, both in the developed and the developing countries, which leads to increase in the number of cosmetic surgeries performed annually. According to the annual plastic surgery procedural statistics, there were 17.5 million surgical and minimally invasive cosmetic procedures performed in the US in 2017, with a 2% increase in the number of procedures over 2016. The rate of growing acceptance of tissue fillers is high in developed countries, however, in developing countries people are also getting more concerned with their appearance, especially with the increasing standard of living. Wrinkles are the first visible signs of aging. A face marked by furrows appears tired and neglected. Wrinkles are like small fractures of the skin, and the the aim of a filler is to fill them. Dermal fillers, also known as injectable implants, soft tissue fillers, or wrinkle fillers, are medical device implants approved by the FDA, in order to help create a smoother and/or fuller appearance in the face, including nasolabial folds, cheeks, and lips and to increase the volume of the back of the hand. The FDA has approved some dermal fillers for the restoration and/or correction of the signs of facial fat loss (lipoatrophy) in people with human immunodeficiency virus (HIV). Hence, the growing acceptance for dermal fillers is driving the growth of facial aesthetics market globally.

Market Segmentation Analysis
• The demand for dermal fillers is growing as dermal fillers helps to diminish facial lines and restore volume and fullness in the face. The rising aesthetic surgeries is also driving the dermal fillers market. For instance, according to the American Society of Plastic Surgeons (ASPS), almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the United States in 2018. Cosmetic surgical procedures have been on the rise in the U.S. over the past 5 years.
• By type, the Hyaluronic acid accounted for the largest market share in global dermal fillers in 2018, owing to its status as the gold standard in dermal fillers and new product launches for the hyaluronic acid. The manufacturers are continuously manufacturing ne products leading to growth of the market globally. For instance, in April 2019, Merz, a global leader in medical aesthetics, has launched the Belotero ® Revive, a dermal filler product containing a unique combination of hyaluronic acid (HA) and glycerol, designed to improve hydration, elasticity and firmness of the skin and to address the appearance of fine lines. The newest addition to the Belotero ® dermal filler range, Belotero ® Revive was designed to meet the unique needs of today’s aesthetic patients. Modern consumers are especially focused on skin quality and on minimizing early signs of aging, and they value skincare and aesthetic solutions that deliver natural-looking results – the so-called “no-filter” look.

Market Geographical Analysis
• North America is dominating the global facial aesthetics market with the United States accounting as the major contributor to the market. The U.S. has a growing demand for botulinum toxins and dermal fillers, owing to improving lifestyles and growing preference for minimally invasive surgeries. The increasing interest toward their aesthetic appearance among consumers is driving the growth of the market. Aesthetic fillers that contain hyaluronic
• acid, collagen, and polymers and particles are used to give the skin or feature a cosmetic boost.
• The rapidly aging population in this region coupled with the presence of advanced technologies and skilled cosmetic surgeons drive them. According to the American Society of Plastic Surgeons, around 2.6 million procedures have been performed in the United States using soft tissue fillers in 2016, which was 2% higher than in 2015. The increase was attributed to the safe and effective minimally-invasive procedures and their lesser side-effects. As of 2016, about 30 aesthetic fillers are approved and possess HA license for sale in Canada.

Market Competitive Analysis
• Some of the major players operating in the global facial aesthetics market are Allergan PLC, Galderma Laboratories, L.P., Merz Pharmaceuticals GmbH, Teoxane SA, among others. Allergan is one of the major player accounting for the highest market share in 2018, as the company has a number of technologically advanced and specialized products as per varied indications due to its JUVÉDERM family of dermal fillers. This range has a number of dermal fillers according to various indications such as the correction of wrinkles and enhancement of the lips. The key players are adopting several strategies such as product launches, partnership, merger and acquisition, collaborations, finding a new market in their core competency in order to stay competitive in the market.
• For instance,
• On January 10th, 2020, Revance Therapeutics, a biotechnology company pioneering new innovations in neuromodulators for aesthetic and therapeutic indications, signed a U.S. distribution agreement with TEOXANE SA, making Revance the exclusive commercialization partner of the Swiss company’s modern and innovative Resilient Hyaluronic Acid® (RHA®) technology.
• In April 2019, Merz Pharma launched a new dermal filler called the Belotero Revive dermal filler, a combination of hyaluronic acid and glycerol
• In April 2019, ALLERGAN launched the Juvéderm VOLUX, a dermal filler aimed at the refinement of the chin and jawline
• In November 2018, Galderma Laboratories, L.P. received an FDA approval for Restylane Lyft', a hyaluronic acid dermal filler used for cheek augmentation and age-related face contour deficiencies.
• In December 2016, Galderma laboratories announced the FDA approval of Restylane Refyne and Restylane Defyne dermal fillers for the treatment of laugh lines.

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