Facial Injectables Market - Growth, Trends , COVID-19 Impact , and Forecasts (2022 - 2027)

Market Overview

The Facial Injectables market is expected to register a CAGR of nearly 12.2% during the forecast period.

The outbreak of COVID-19 resulted in decreased public mobility and has also impacted the therapeutic and surgical industry significantly, as the surgical procedures and screening programs, which are non-immediate and are being postponed to decrease the burden on healthcare infrastructure. For instance, according to the study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide will be canceled or postponed 2020. In addition, rising cases of COVID–19 in the countries are expected to have a short-term impact on surgical rates of cosmetic procedures. The short-term effects on the surgical segment are less prominent. However, the adverse impacts of COVID-19 on the global economy can have significant indirect effects on the surgical segment of the market.

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. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS) published Global Survey Results 2020 report, a total of 10,129,528 cosmetic surgical procedures were performed in 2020, and the top five surgical procedures included breast augmentation (1,624,281), liposuction (1,525,197), eyelid surgery (1,225,540), abdominoplasty (765,248), and rhinoplasty (852,554).

In addition, there is a consistent rise in the geriatric population that helps to boost the market growth. For instance, according to the World Health Organization, by 2030, 1 out of every 6 people on the planet will be 60 years old or older. The number of people aged 60 and up is expected to rise from 1 billion in 2020 to 1.4 billion by 2050. By 2050, the global population of people aged 60 and above will get double to reach 2.1 billion. Between 2020 and 2050, the number of people aged 80 and above is expected to triple, reaching 426 million. Furthermore, technological advancements are also helping in the growth of the market.

The market players are adopting various strategies such as product launches, developments, collaborations, partnerships, acquisitions and expansions to increase market share. For instance, in February 2019, the United States Food and Drug Administration (FDA) approved, Jeuveau which is found to be effective in reducing wrinkles. Thus, owing to above mentioned factors it is likely to drive the market growth. However, factors such as side-effects of available products limiting adoption and lack of reimbursement policies supporting cosmetic procedures are likely to impede market growth in near future.

Scope of the Report

As per the scope of the report, facial injectables aid in rejuvenating the facial skin by reducing wrinkles, raising scar depressions, and enhancing the lips. Facial injectables are products that include collagen fillers, hyaluronic acid fillers, and synthetic fillers, such as calcium hydroxylapatite. The use of injectable products, such as hyaluronic acid increases skin hydration, improves skin, and protects from UV damage and has relatively low side effects. The facial injectables market is segmented by Type (Wrinkle Relaxers (Botulinum Toxin) and Dermal Fillers (Collagen, Hyaluronic Acid, Fat Injection, Polylactic Acid, Polymethyl-methacrylate Microspheres (PMMA), Calcium Hydroxylapatite, Other Dermal Fillers), Application (Facial Line Correction, Lip Augmentation, Face Lift, Acne Scar Treatment, Lipoatrophy Treatment, Other Application), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

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Key Market Trends

Hyaluronic Acid Segment is Expected to Hold Significant Share Over the Forecast Period

Some of the factors that are responsible for Hyaluronic acid segment growth include known for its ability to store moisture in the skin, thus making the skin look healthier, a moisture-binding characteristic that helps enhance and maintain the vital moisture responsible for the plumpness of the facial skin. The increasing demand for aesthetic procedures and an increasing number of facial procedures are boosting the segment growth.

A research article by Matt Spick et al., published in September 2020, found that most people infected with SARS-COV-2 coronavirus are likely to develop dyslipidemia and changes in their sebum liposome that can lead to premature aging of the skin in the long term which is expected to boost the market growth in coming years.

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.

The market players are adopting various strategies such as product launches, developments, collaborations, partnerships, acquisitions and expansions to increase market share. For instance, in June 2020, AbbVie Inc., (Allergan Plc) received approval from United States Food and Drug Administration (FDA) for JUVÉDERM VOLUMA XC for the augmentation of the chin region in adults over the age of 21.

In addition, in August 2020, Revance launched the RHA (resilient hyaluronic acid) collection of fillers. The resilient hyaluronic acid fillers are designed to adapt to facial dynamics and represent the first step in the line of products for aesthetic practices. Thus, owing to above mentioned factors it is likely to drive the segment growth over the forecast period.

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