|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
|Facial Line Correction|
|Acne Scar Treatment|
|Other Applications (Chin augmentation and Earlobe Rejuvenation etc.)|
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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North America Dominates the Market and Expected to do Same in the Forecast Period
Some of the factors that are driving the market growth in the North America region include higher awareness about aesthetic surgical procedures, technological advancements in cosmetic procedures, the presence of key market players, and the increasing geriatric population and demand for non-invasive aesthetic procedures.
According to the American Society of Plastic Surgeons (ASPS), in 2020, plastic surgeons stopped performing elective surgical procedures for an average of 8.1 weeks 2020 due to COVID-19, or 15% of the year, which indicates the decline in the total number of procedures performed. Moreover, in 2020, minimally invasive cosmetic procedures decreased slightly more than surgical procedures (16% vs. 14%) during stay-at-home orders, dropping for the first time in four years.
In Canada, the growing geriatric population is also fueling the growth. As per the World Population Ageing Report, in Canada, there were around 6.602 million people aged over 65 years in 2019, and the number is estimated to reach 11.436 million by 2050. The demand for aesthetic fillers is expected to increase due to increased attention on facial aesthetics among this population.
According to the American Society of Plastic Surgeons, in 2020, 13,281,235 cosmetic minimally-invasive procedures were performed in the United States, out of which 4,401,536 were botulinum toxin procedures. It was the number one non-surgical procedure found in 2020. However, ASPS anticipates a decrease in the total number of cosmetic procedures in 2020 due to the COVID-19 pandemic, but it forecasts strong demand for treatments as practices rereopensor in-office procedures. As per the same source, as of 2019, around 2,160,578 Hyaluronic acid cosmetic minimally-invasive procedures have been carried out in the United States.
The presence of key players in the United States that are launching new products in the market, gives an edge to the country in the global market. In January 2020, Revance Therapeutics, reported that transformative aesthetics portfolio transaction with exclusive United States distribution agreement of Food and Drug Administartion approved dermal fillers from Teoxane SA. TEOXANE SA RHA portfolio is one of the first FDA-approved dermal fillers for correction of dynamic wrinkles. In the future, with above mentioned factors it is expected to witness rapid growth over the forecast period.
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The Facial Injectables Market is moderately competitive. 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. Some of the market players include AbbVie Inc (Allergan Plc), Ipsen SA, Medytox Inc., Merz Pharma, Sinclair Pharma Plc, among others.
- In February 2022, Merz Aesthetics has Launched Radiesse (+) as First and Only Aesthetic Injectable to Improve Moderate to Severe Loss of Jawline Contour
- In September 2021, Aesthetics innovators launched two innovative new injectables into the aesthetics sphere MaiLi, a hyaluronic acid (HA) dermal filler which uses less product than traditional fillers, and Lanluma, industry-first collagen stimulating filler for the body.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Aesthetic Consciousness and Number of Cosmetic Procedures
4.2.2 Introduction of Cost-effective Facial Injectable
4.2.3 Ageing Population
4.3 Market Restraints
4.3.1 Side-effects of Available Products Limiting Adoption
4.3.2 Lack of Reimbursement Policies Supporting Cosmetic Procedures
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Type
5.1.1 Wrinkle Relaxers
188.8.131.52 Botulinum Toxin
5.1.2 Dermal Fillers
184.108.40.206 Hyaluronic Acid
220.127.116.11 Fat Injection
18.104.22.168 Polylactic Acid
22.214.171.124 Polymethyl-methacrylate Microspheres (PMMA)
126.96.36.199 Calcium Hydroxylapatite
188.8.131.52 Other Dermal Fillers (Polyalkylimide etc.)
5.2 By Application
5.2.1 Facial Line Correction
5.2.2 Lip Augmentation
5.2.3 Face Lift
5.2.4 Acne Scar Treatment
5.2.5 Lipoatrophy Treatment
5.2.6 Other Applications (Chin augmentation and Earlobe Rejuvenation etc.)
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 AbbVie Inc (Allergan Plc)
6.1.2 Anika Therapeutics Inc.
6.1.3 Ipsen SA
6.1.4 Medytox Inc.
6.1.5 Merz Pharma
6.1.6 Galderma Pharma SA
6.1.7 Sanofi SA
6.1.8 Sinclair Pharma Plc
6.1.9 Suneva Medical Inc.
6.1.10 Alphaeon Corporation (Teoxane Laboratories)
6.1.11 Bloomage Biotechnology (Laboratories Vivacy SAS)
6.1.12 SciVision Biotech Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Facial Injectables Market market is studied from 2019 - 2027.
What is the growth rate of Global Facial Injectables Market?
The Global Facial Injectables Market is growing at a CAGR of 12.2% over the next 5 years.
Which region has highest growth rate in Global Facial Injectables Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Facial Injectables Market?
North America holds highest share in 2021.
Who are the key players in Global Facial Injectables Market?
AbbVie Inc (Allergan Plc), Ipsen SA, Medytox Inc., Merz Pharma, Sinclair Pharma Plc are the major companies operating in Global Facial Injectables Market.