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Published by linker 5
Posted on February 6, 2021
Market players are investing in innovative technology for product development, ensuing in higher quality fillers which are simpler to use as well as increased satisfaction for patients.
The global dermal fillers market is anticipated to record a healthy CAGR throughout the forecast period, 2019 to 2029. The growth can be primarily attributed to growing efficiency of dermal fillers as well as rising awareness about the treatments in developing and developed countries.
Global dermal fillers market is predicted to experience a negative impact due to the outbreak of the coronavirus. The market in 2020 is likely to witness a drop of 40% as compared to 2019. Various cosmetic facilities and clinics were shut during the lockdown imposed at a global front. The growing number of coronavirus is reducing the number of aesthetic surgeries, which is negatively impacting the dermal fillers market size.
“Launch of dermal fillers and new product approvals together with growing demand for minimal invasive aesthetic procedures providing increased permanence as well as safety profiles are fueling growth of the global dermal fillers market.” says an FMI analyst.
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Key Highlights
Drivers
Increasing aging population all over the world and booming beauty industry is positively impacting the market growth.
Driven by incessant advancements and innovations, millennials find dermal filler treatment appealing, thus fueling demand for dermal fillers.
Escalating non-invasive aesthetic surgeries and increasing inclination of aesthetic surgeons stays key factors accountable for upsurge in demand.
Restraints
Concerns among customers about side effects associated with HA fillers might limit the usage in the global market.
Strict regulations for the usage of dermal filler can constrain the market prospects.
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COVID-19 Impact on the Market
The emergence of COVID-19 has brought the dermal fillers market to a standstill. The buying power of customers have been impacted due to rising unemployment amid the COVID-19 outbreak. Therefore, customers will be more discerning about cosmetic and beauty procedures owing to decreased buying power due to financial and personal losses is projected to limit the growth of the market amid the forecast period.
Competitive Landscape
Market players in the dermal fillers market are majorly engaged in investing bio-remodeling innovation with no added chemicals due to strict government regulations. Key players operating in the global market are Sinclair Pharma plc., Galderma Pharma S.A, Zimmer Biomet Holdings, Anika Therapeutics Inc., Allergan plc., Merz Pharma GmbH & Co. KGaA, Teoxane Laboratories Inc., Suneva Medical Inc., Prollenium Medical Technologies Inc., Laboratoires Vivacy SAS, Adoderm GmbH, and Fidia Pharma USA Inc.
