Market Overview
The trends suggest that the Facial Injectables market is expected to register a CAGR of nearly 12.2% during the forecast period.
The outbreak of the COVID-19 pandemic has 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 British Journal of Surgery published in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide will be canceled or postponed in 2020. In addition, rising cases of the COVID–19 pandemic 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, although less prominent. However, the adverse impacts of the COVID-19 pandemic on the global economy can have significant indirect effects on the surgical segment of the market.
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The propelling factors for the growth of the facial injectables market include:
- There has been a rise in aesthetic consciousness and the number of cosmetic procedures.
- The widespread introduction of cost-effective facial injectables.
- The increase in the aging population.
The cosmetic industry is booming in the current decade and has undergone an estimated three-fold increase in turnover over the last few decades.
Key Vendors
Galderma, Allergan, Merz Pharma, Valeant Pharmaceuticals, Integra Lifesciences, Sanofi, Sinclair, Suneva Medical, and Scivision Biotech Inc
Market Segmentation
Facial Injectable Market are products that include collagen fillers, hyaluronic acid fillers, and synthetic fillers like calcium hydroxylapatite. The use of injectable products, such as hyaluronic acid, increases skin hydration, improves skin, protects from UV damage, and has relatively low side effects. The facial injectables market is segmented by Type like Wrinkle Relaxers (Botulinum Toxin) and Dermal Fillers (Collagen, Hyaluronic Acid, Fat Injection, Polylactic Acid, followed by others like Polymethyl-methacrylate Microspheres (PMMA), Calcium Hydroxylapatite, Other Dermal Fillers). The market’s application segment includes Facial Line Correction, Lip Augmentation, Face Lift, Acne Scar Treatment, Lipoatrophy Treatment, and Other Applications. The geography of the market includes regions like North America, Europe, Asia-Pacific, Middle East, Africa, and South America.
Regional Analysis
Some of the factors driving the market growth in the North American region include higher awareness about aesthetic surgical procedures, followed by others like 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 information of 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, the trends highlight the 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 increase in the growing geriatric population is also fueling the growth. As per the information of 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 growing demand for aesthetic fillers is expected to increase due to increased attention on facial aesthetics among this population.
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Industry News
In addition, there is a consistent rise in the geriatric population, which helps boost the market growth. By the end of 2050, the global population of people aged 60 and above will double to reach 2.1 billion. Furthermore, rising technological advancements are also helping in the growth of the market.
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