As per Inkwood Research, the Global Dermal Fillers Market is predicted to record a CAGR of 9.40% during the forecast period of 2022-2030.
“Browse 59 market Data Tables and 51 Figures spread over 175 Pages, along with an in-depth TOC on the Global Dermal Fillers Market Forecast 2022-2030.”
Dermal fillers, also termed injectable implants, lip and facial fillers, soft tissue fillers, or wrinkle fillers, entail medical device implants approved by the Food and Drug Administration (FDA). They help create a smoother, fuller appearance in the chin, lips, nasolabial folds, cheeks, and back of the hands. These gel-like products are injected under a person’s skin to restore lost volume, smooth lines, enhance facial contours, and soften creases.
Rising Geriatric Population to Facilitate Global Dermal Fillers Market Growth
The geriatric population is anticipated to rise significantly across the globe. For example, according to the United Nations (UN), the aging population, or individuals aged 65 years or over, is set to reach over 1.5 billion by the year 2050, from approximately 727 million persons in 2020. Aesthetic fillers are important anti-aging treatments, specifically utilized to reduce signs of early aging and hyperpigmentation. Therefore, the rise in the elderly population globally is projected to augment the demand as well as the adoption of a diverse range of dermal filler products during the forecast period.
Biodegradable to be the Dominating Product Type
The biodegradable segment, under the product type category, is estimated to hold the highest market share during the forecast period. The segment’s notable growth is attributed to the surging availability of product offerings, as compared to their non-biodegradable counterparts, as well as the wider applications of biodegradable products. The higher degree of safety, coupled with robust regulatory approval for biodegradable products, is set to play an essential role, as well. Also, current research and development initiatives by leading and emerging players for the introduction of novel products are projected to further fuel the demand for biodegradable dermal fillers during the upcoming years.
North America to Account for Highest Share of the Global Market
The dynamic growth of the North America dermal fillers market is accredited to the highly aware as well as economically stable population, in addition to the relatively higher rates of cosmetic procedures performed in the region. For example, the number of surgical and non-surgical aesthetic procedures in the United States increased to more than 5.5 million in 2020 from approximately 1.6 million in 1997. Additionally, new product launches and regulatory approvals are also expected to contribute to the market growth in North America. For example, according to the International Academy of Facial Aesthetics, in 2020, resilient hyaluronic acid dermal fillers were launched by Revance Aesthetics in the United States.
Leading players operating in the global dermal fillers market include AbbVie Inc, Bioha Laboratories, Allergan, BioPlus Co Ltd, etc.