Global Dermal Fillers Market sustained at 10% CAGR with geriatric population seeking anti-aging 2026
The Global Dermal
Fillers Market valued at $2.8 billion in 2021, is set to
witness a healthy growth rate of 10% by 2026. ‘Covid-19-Zoom-Boom
Effect’, an increasing influence of social media in promoting non-surgical
aesthetic procedures, growing focus on physical appearance, rising cultural
acceptance & fading social stigma on cosmetic procedures, increasing demand
from younger population and men, rise in the number of clinics offering
non-surgical aesthetic services, expanding geriatric population & awareness
on anti-aging cosmetic procedures are some of the key factors driving the
dermal fillers market growth.
Dermal fillers are gel-like substances that are injected
below the skin to restore lost volume, smooth lines and soften creases, and
enhance facial contours. Millions of men and women opt for this facial
rejuvenation treatment to look younger without surgery & downtime. Key
drivers fueling its adoption are cost-effectiveness, more affordable,
near-immediate, natural-looking results in a single appointment, shorter
recovery times, and minimal risk of complications.
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Covid-19, Financial Bottlenecks, 'Zoom Boom‘ and
Rebound of the Dermal Fillers Market
Throughout 2020 and 2021, the Covid-19 virus spread rapidly
and relentlessly across the globe and adversely impacted a multitude of
industries worldwide. With lockdowns implemented, social distancing mandated,
and widespread apprehension – Covid-19 adversely impacted the dermal fillers
market globally and as a result, several aesthetic service providers were
compelled to change their methods of delivery. Facial aesthetics clinics were
not allowed to operate, and people were not allowed to visit them. With business
completely shut down for a period, the aesthetic industry witnessed a financial
hit. These disruptions encouraged several suppliers to advance their businesses
to online platforms and ordering systems.
However, despite the Covid-19 pandemic, the aesthetic
industry is now on the recovery path. Since early 2020, aesthetics clinics
worldwide have witnessed an overwhelming spike in bookings for cosmetic
enhancements due to Covid-19 & the ‘Zoom Effect. It's been dubbed the
"Zoom Boom" in the sector because people are using video calls more
for work and socializing and hence have become more conscious of their
appearance after seeing their faces (facial expressions & wrinkles) on
video calls every day on Zoom. Plastic surgeons across the globe reported an
exponential rise in consultation requests for demand fillers since 2020.
Growing Self-reflection, Reduced Social Stigma, and
Rising Cultural Acceptance of Cosmetic Procedures Fuels the Demand
The trend of self-reflection become more prominent after the
lockdowns globally. The forced ‘alone-time’ allowed people to re-evaluate their
physical appearance and provided them options to improve themselves. The trend
had a favorable impact on the dermal fillers market.
Non-surgical aesthetic procedures such as dermal fillers
were, in the past, considered a social taboo, which is fast changing now due to
positive news and comments about cosmetic surgeries online. Print, digital and
mainstream media have disrupted the stigma that was once attached to male
beauty treatments.
Social Media Pressure Linked to Boom in Dermal Filler
Procedures
Social media is playing a critical role in the rising public
interest in non-surgical cosmetic procedures. There is ample information
available on social media on non-surgical aesthetic procedures - online
educational materials, physician-run accounts, patient experiences,
advertisements, and promotions from celebrity accounts that are driving
awareness and acceptance of these procedures, especially amongst new patient
groups.
The spread of images on social media has also immensely
contributed to an increase in demand for non-surgical cosmetic procedures such
as dermal fillers. Non-surgical cosmetic procedures are increasingly being
advertised by popular influencers on social media (Facebook and Instagram) and
glamorous personalities appearing on TV shows.
“Dermal fillers market is set to witness double-digit
growth in the coming years. Aggressive marketing strategies from players,
growing awareness among people related to the role of dermal fillers in
anti-aging, and rising digital engagement of patients on social media is
driving its adoption.” - Director, Leading Aesthetic Product
Manufacturer, United States
Regulation of Dermal Fillers Likely to Become Stricter in
the European Union (EU) With the Introduction of New Medical Device Regulation
(MDR)
Within the EU, medical devices used to be regulated through
the Medical Devices Directive (MDD), which required all medical devices to have
a CE certification. This did not include dermal fillers.
However, from May 2021, the MDD has been replaced by MDR
which classifies dermal fillers as Class III medical devices. With the
introduction of new MDR, manufacturers need to comply with the MDR
requirements. If manufacturers fail to comply with the MDR requirements, they
will be unable to market their products within the EU.
“The EU move to MDR is likely to create entry barriers.
Smaller manufacturers who cannot support their products with clinical studies
will be driven out.” - Head of Aesthetics Division, Leading
Aesthetic Product Manufacturer, UK
Organic and Inorganic Growth Strategies Adopted by
Players to Establish Their Foothold in Dermal Fillers Market
The global dermal fillers market is marked by the presence
of both established and new players. Players operating in the dermal fillers
market adopt both organic and inorganic growth strategies such as new product
launches, and partnerships to garner market share. For instance,
- In
December 2021, Revance’s partner, Teoxane SA, received U.S. FDA approval
for RHA® Redensity’s first indication, which is for the treatment of
moderate to severe dynamic perioral rhytids (lip lines) in adults aged 22
or older. RHA® Redensity bolsters the versatility of the RHA® Collection
of dermal fillers.
- In
October 2020, Allergan Aesthetics, an AbbVie company acquired Luminera's
(a privately held, aesthetics company based in Israel) full dermal filler
portfolio and R&D pipeline to further enhance its positioning in the
dermal fillers market.
The global dermal fillers market is set to witness
double-digit growth in the coming years due to the growing prominence of
digitalization, automation tools, and data-driven solutions that utilize
predictive analytics, AI, and ML. These tools are increasingly being used for:
- Streamlining
resource allocation in medical facilities.
- Doctors
and care managers can outline populations, target their most complex
patients, and identify rising-risk patients.
- Managing
patient load and assisting in capacity management - Allocating emergency
rooms based on the severity of the illness, and reducing patient service
turnaround time.
Streamlining the insurance claim process that costs the
hospitals significant labor hours. The technology also assists in checking
eligibility and subsequent data migration, quickly and effectively.
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Competitive Landscape Analysis: Dermal Fillers Market
The global dermal fillers market is marked by the presence
of players such as Allergan (Part of AbbVie), Galderma, Merz Pharma, Teoxane,
Sinclair, Revance Therapeutics, Prollenium Medical Technologies, Bioxis
Pharmaceuticals, among others.
Medi-Tech Insights
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start-ups. We have completed 100+ projects in Digital Health, Healthcare IT,
Medical Technology, Medical Devices & Pharma Services in the areas of
market assessments, due diligence, competitive intelligence, market sizing and
forecasting, pricing analysis & go-to-market strategy. Our methodology
includes rigorous secondary research combined with deep-dive interviews with
industry-leading CXO, VPs, and key demand/supply side decision-makers.
Contact:
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
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