Dermal Filler Market will surge at 6.6% CAGR up to 2024
Jan 16, 2019
U.S. dermal fillers market is projected to achieve 5.8% CAGR during the forecast time-frame owing to growing importance and focus on facial beauty coupled with recent advancements in dermal fillers.
Sellbyville, United States - January 16, 2019 /MarketersMedia/ —
Italy dermal filler market accounted for the highest market share of 24.2% of Europe dermal filler market in 2017. High revenue share can be attributable to growing adoption of non-invasive cosmetic procedures across Italy. According to The International Society of Plastic Surgery (ISAPS), around 266,100 injectable procedures were performed in Italy in 2017. In addition, presence of sufficient number of plastic surgeons in the country offer momentous Italy dermal filler industry growth in the forthcoming period.
Global Dermal Filler Market will hit USD 8.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising awareness and acceptance regarding several cosmetic procedures in developed and developing regions coupled with increasing disposable income will impel dermal filler market size. Demand for dermal filler injections dramatically increased during recent years among high income Saudi Arabian women. Moreover, rising awareness about superior benefits coupled with minimal pain involved with the procedure will drive global dermal filler market growth.
Growing medical tourism in emerging regions such as India and Israel should positively impact dermal filler industry growth. Medical tourism offers cost-effective cosmetic treatments and is thus witnessing tremendous growth currently. Additionally, large number of people are increasingly spending on cosmetic enhancements that should further offer lucrative dermal filler market growth opportunity in the forthcoming period.
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Biodegradable dermal filler type segment will witness 6.4% CAGR during the forecast period. Biodegradable fillers are being highly preferred due to their relative safety along with sustained aesthetic enhancements. Similarly, temporary biodegradable dermal filler sub-segment held highest share in 2017 and will show similar trend till 2024.
Hyaluronic acid (HA) material type segment accounted for highest revenue share of 78.0% in 2017. Widespread acceptance of hyaluronic acid fillers will be the major factor leading to considerable segment growth. HA fillers are used for multiple applications such as facial line corrections and are safe that should assist its rapid adoption over the foreseeable future.
Lip enhancement application segment will record fastest growth at 7.7% CAGR throughout the projected time-frame. Lip augmentation procedures are being widely acknowledged and adopted in developing as well as developed countries. Moreover, dermal fillers offer controlled lip size changes within short duration that will boost segment share in the forthcoming years.
Dermatological clinics end-use segment led the global dermal filler market with USD 3,379.8 million in 2017. Dermatological clinics offer cost-effective and customized service to patients that render cosmetic procedures at such settings favorable. Also, several clinics are witnessing surge in demand for lip augmentation procedures that should stimulate segmental growth in upcoming years.
Australia dermal filler market will foresee remarkable progress at 8.2% CAGR throughout the forecast timeframe. Increasing spending on non-invasive beauty treatments especially among baby boomers will highly impact dermal filler business growth. As per data from The Cosmetic Physicians Society of Australasia, demand for dermal fillers significantly increased during 2014 and is estimated to rise over the coming years. Thus, growing elderly population and presence of established players such as Allergan should augment Australia dermal filler market growth over the upcoming period.
India dermal filler market will foresee 8.4% CAGR throughout the forecast timeframe. Fast adoption of facial augmentation procedures following numerous celebrities as well as expansion by many market players will highly impact market. Rising number of baby boomers will further assist India dermal filler market growth in the upcoming years.
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Some of the notable players operating in dermal filler market are Allergan PLC, Merz Aesthetics, Galderma Laboratories (Nestle) and Bioform Medical, Inc. Major market players are concentrating on R&D to develop and introduce superlative and improved product to capture significant market share and gain competitive edge. For instance, in December 2016, Galderma Laboratories received approval from the US FDA for two next-generation hyaluronic acid dermal fillers Restylane Defyne and Restylane Refyne.
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Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/dermal-filler-market
Source URL: https://marketersmedia.com/dermal-filler-market-will-surge-at-66-cagr-up-to-2024/471289
Source: MarketersMedia
Release ID: 471289
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