Market Industry Reports (MIR) has published a new report titled “Dermal Fillers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Dermal Fillers Market is anticipated to grow at a 6.5% CAGR from 2019 to 2030.
The continual growth of the dermal fillers market can be attributed to several factors, namely rising geriatric population, increasing preference of non-surgical aesthetic treatment options to improve physical appearance of patients. Moreover, the growing demand for cosmetic treatments and therapies across the globe is anticipated to further contribute to the substantial growth of the global dermal fillers market between 2019 and 2030. To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. The Anglia Ruskin University, based in England, has entered into an agreement with Allergen Inc., to develop educational program for practicing physicians in the Asia Pacific region on facial aesthetics.
Rising Geriatric Population
The population of geriatric population across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global dermal fillers market in the coming times. Growing awareness regarding appearance both among the youth and geriatric population has a been a major growth driver for the global dermal filler industry, Treatment of several conditions namely aging of the skin, wrinkles, scars and other forms of facial contours have gained immense popularity in recent times, which is further anticipated grow in the coming years.
Growing Preference for Non-surgical Aesthetic Treatment
Non-surgical cosmetic treatments, once exclusively sought after by women have been gaining immense popularity among men in recent times. Increasing awareness regarding ones physical appearance among both genders coupled with growing acceptance of the same among men have been pivotal in contributing to the growing adoption of dermal fillers. In 2016, International Society of Aesthetic Plastic Surgery (ISAPS), estimated that the total number of non-surgical cosmetic procedures performed by means of injectable was a staggering 8,548,597.
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Complications and Risk Related Associated with Cosmetic Procedures to Restrain the Market
Various complications and risk related associated with non-surgical dermal filler treatment have been affecting the growth of the dermal fillers industry inversely. Several complications such as acne-like skin eruptions, infections, itching, scarring, bleeding, bruising and swelling among others are known to cause serious adverse effects as a result of dermal fillers treatment Thereby, restraining the extensive growth of the market during the forecast period.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing geriatric population, continuously growing economy, rising medical tourism and increasing awareness regarding cosmetic treatment, increasing preference for non-surgical procedures and adoption of latest products is anticipated to present a lucrative growth scenario for the dermal fillers market in this region. Furthermore, attractive procedure rates, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
Major Players in the Medical Aesthetic Market
The prominent players in the global dermal fillerss market are Prollenium Medical Technologies, SCULPT Luxury Dermal Fillers LTD, DR. Korman, Anika Therapeutics, Inc., Bioxis pharmaceuticals, BioPlus Co., Ltd., Nestle Skin Health (Galderma laboratories), MERZ PHARMACEUTICALS, Sinclair Pharma, Allergan plc among others.
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Content Source: https://www.marketindustryreports.com/press-release/46/dermal-fillers-market
This post was originally published on Industry Updates Daily
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