Global Hyaluronic Acid Based Dermal Fillers Market Size

Hyaluronic Acid Based Dermal Fillers Market Analysis

The hyaluronic acid based dermal fillers market is expected to register a CAGR of 8.2% over the forecast period-2022-2027.

The emergence of the COVID-19 pandemic had an adverse effect on the world economy and the healthcare system. The lockdown all over the globe has affected the supply chain of pharmaceuticals, medical devices, and biotechnological products. On the other hand, research and development have come into focus. All government agencies and healthcare players all over the world have increased their focus to support the development of diagnostics and treatment methods for COVID-19. Therefore, initially, the pandemic adversely impacted the market. However, in later times of the pandemic, the market gained momentum due to some positive developments. For instance, as per the data provided by the International Society of Plastic Surgery (ISAPS) in 2020, nonsurgical procedures, primarily fillers, and hair removal treatments, continued to increase. In addition, the outbreak of COVID-19 impacted the hyaluronic acid based dermal fillers market. Plastic surgeons have received a surge in inquiries for cosmetic procedures since the coronavirus lockdown, with workers desperate to look good on Zoom calls. Therefore, the outbreak of pandemic will positively impact the market over the forecast period.

The increasing demand for non-invasive dermatology techniques and ageing population and increasing R&D investments for new hyaluronic acid based dermal fillers are the major drivers for the market over the forecast period The increasing demand for non-invasive dermatology techniques and ageing population is one of the major factors propelling the market growth. For instance, according to the American Society of Plastic Surgeons (ASPS) data updated in February 2022 reported that in 2020, total of 13,281,235 cosmetic minimally invasive procedures were performed in the United States, among which botulinum toxin remained the top procedure with 4.4 million procedures, followed by soft tissue filler (3.4 million) and Laser Skin Resurfacing (997,245). In addition, the advantages of hyaluronic acid-based dermal fillers is also one of the major drivers for the market. For instance, as per the study titled, " Hyaluronic Acid Is an Effective Dermal Filler for Lip Augmentation: A Meta-Analysis" published in August 2021, lip augmentation with injectable hyaluronic acid is an effective method for increasing the fullness of the lips for at least 6 months after augmentation. In addition, the study also found that most of the side effects of hyaluronic acid treatment were mild or moderate. Therefore, owing to such factors considerable market growth is expected over the forecast period.

The high cost of dermal filling procedures is likely to impede the market growth over the forecast period.