Hyaluronic Acid-based Dermal Fillers Market
Number of pages: 100 | Report Format: PDF | Published date: October 03, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market size value in 2021 |
US$ 4.2 billion |
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Revenue forecast in 2030 |
US$ 8.12 billion |
|
CAGR |
7.60% |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
By Application, End-User and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
The global hyaluronic acid-based dermal fillers market was pegged at US$ 4.2 billion in 2021 and is expected to witness a CAGR of 7.60% during the forecast period.
Market Fundamentals
Dermal fillers based on hyaluronic acid are a type of temporary dermal filler. The body naturally contains hyaluronic acid, the highest concentration in joints, eyes, and skin. Hyaluronic acid attracts water in the skin, making it more hydrated. These fillers are mainly used to improve the skin's contour and reduce depressions caused by scars, injuries, or fine lines. Dermal fillers containing hyaluronic acid are becoming more popular because hyaluronic acid can strengthen the skin's natural barriers, preventing and minimizing damage caused by excessive sun exposure, pollution, and smoking.
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Market Dynamics
The primary drivers propelling the worldwide market for hyaluronic acid-based dermal fillers are the rising need for aesthetic therapies and anti-aging cosmetics, increasing demand for minimally invasive facial treatments, and technological advancements. Additionally, hyaluronic acid-based dermal fillers' rising effectiveness is boosting market growth. However, the expensive cost required for the procedures can somewhat restrain the market.
Market Ecosystem
The global hyaluronic acid-based dermal fillers market has been analyzed from three perspectives: by application, end-user and region.
Hyaluronic Acid-Based Dermal Fillers Market by Application
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The global hyaluronic acid-based dermal fillers are grouped into scar treatment, lip enhancements, wrinkle correction treatment, and restoration of volume/ fullness. Among these, the wrinkle correction treatment segment has the majority of market shares. The growth is attributed to increased aging effects among middle-aged population, and growing trends in social networking websites. Moreover, the lip enhancements and face structure correction segment are also expected to increase in the forecast period. This is ascribed to increased demand for fillers in the youth; the launch of new innovative products is expected to boost the market revenue.
Hyaluronic Acid Based Dermal Fillers Market by End User
End users in the hyaluronic acid-based dermal fillers market include specialty & dermatology clinics and hospitals & clinics. Specialty & dermatology clinics have dominated the market. However, the hospitals & clinics segment is expected to grow during the forecast period. Various dermal fillers market companies use product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their global footprint, maintain brand names, and meet growing end-user demand.
Hyaluronic Acid-Based Dermal Fillers Market by Region
Regionally, the global hyaluronic acid-based dermal fillers market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. North America has dominated the market. The growth is attributed to increased demand for hyaluronic acid-based fillers among youth and the middle-aged. Moreover, increased awareness of hyaluronic acid-based dermal fillers makes it the safest and most effective treatment available in the region.
A rapidly increasing aging population characterizes the European region. Increasing awareness regarding the advantages of hyaluronic acid-based fillers is also expanding the market revenue. Additionally, major market players in the region offering reimbursement policies are increasing the adoption of hyaluronic acid-based dermal fillers.
Compared to other regions, Asia Pacific has the highest potential for the global hyaluronic acid-based dermal fillers market. The region is growing due to the high demand for cosmetic procedures. South Korea will dominate the hyaluronic acid-based dermal filler market in Asia Pacific due to the highest demand for dermal filling operations. The country will also lead the market because it lacks stringent regulatory scenarios for global hyaluronic acid-based dermal filler players.
Competitive Landscape
Some of the prominent players operating in the global hyaluronic acid-based dermal fillers market are
The primary drivers propelling the worldwide market for hyaluronic acid-based dermal fillers is the rising need for aesthetic therapies and anti-aging cosmetics, increasing demand for minimally invasive facial treatments, and an increase in technological advancements. Additionally, the rising effectiveness of hyaluronic acid-based dermal fillers are boosting the market growth.
Some of the prominent players operating in the global hyaluronic acid-based dermal fillers market are Merz Pharma GmbH & Co. KGaA, Allergan plc, BioPlus Co. Ltd., Bioxis Pharmaceuticals SAS, Candela Medical, Inc., Anika Therapeutics, Inc., Ionis Pharmaceuticals, Inc., BioCryst Pharmaceuticals, Inc., KalVista Pharmaceuticals Ltd., and Pharvaris Netherlands B.V. among others.
Expensive cost required for the procedures can restrain the market to some extent.
Dermal fillers based on hyaluronic acid are a type of temporary dermal filler. The body naturally contains hyaluronic acid, the highest concentration in joints, eyes, and skin. Hyaluronic acid attracts water to the skin, making it more hydrated and youthful.
The global hyaluronic acid-based dermal fillers market was pegged at US$ 4.2 billion in 2021 and is expected to witness a CAGR of 7.60% during the forecast period.
*Insights on financial performance is subject to availability of information in public domain