The propelling factors for the growth of the facial injectables market include the rising aesthetic consciousness and number of cosmetic procedures, the introduction of cost-effective facial injectable, and the aging population.
The cosmetic industry is found to be booming in the current decade and has undergone an estimated three-fold increase in turnover over the last few decades. In particular, there has been an increase in the total number of non-surgical therapies, such as injections of wrinkle relaxers and dermal fillers. This trend is primarily due to the advantages of technologies, such as low recovery time, less risk of infections, no blood loss, and the overall reduction in procedural costs. Thus, the increase in the number of cosmetic procedures has spurred the growth of the overall market.
In addition, there is a consistent rise in the geriatric population that helps to boost the market growth. Along with the aging population, the new generation has been attracted to the cosmetic industry to appear more youthful. Furthermore, technological advancements are also helping in the growth of the market.
Key Market Trends
Hyaluronic acid Holds the Largest Share in Dermal Fillers and is Expected to Continue Over the Forecast Period
Hyaluronic acid holds the largest share in the market due to the increased usage of dermal fillers in aesthetic surgeries. The increasing demand for aesthetic procedures and increasing number of facial procedures is boosting the segment.
Moreover, hyaluronic acid has major benefits as it increases hydration, improves elasticity, and reverses free radical damage that protects from UV damage. These factors help in driving the overall market for hyaluronic acid. It is also seen that the demand for hyaluronic acid is increasing significantly, which is expected to provide consistent growth in the coming years in the studied market.
North America Region Holds the Largest Market Share and is Expected to Follow the Same Trend over the Forecast Period
North America is among the major dominating market for facial injectables, with the United States holding the largest market share in North America due to a higher awareness about aesthetic surgical procedures. There is also an increasing geriatric population and demand for non-invasive aesthetic procedures that help in driving the market studied over the forecast period. The United States has a major share in the region. According to the International Study on Aesthetic Procedures Performed (ISAPS) the total face and head procedures that took place in the year 2017 were 420, 444 and are expected to increase in the forecast period.
The key players present in the market are making collaborations and product launch strategies in order to address the unmet aesthetic needs. Thereby, providing the physicians with new and better options, as well as augmenting the growth of the facial injectables market. The companies are also focusing on expanding their presence in the emerging markets and also trying to maintain strong distributor relationships.
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