Dermal Fillers Market Size to Outstrip $9,421.33Mn by 2028 Growth Projections at 11.5% CAGR During 2021 to 2028 COVID Impact and Global Analysis by TheInsightPartners.com

New York, Oct. 06, 2021 (GLOBE NEWSWIRE) — Dermal Fillers Market: Key Insights
According to our new research study on “Dermal Fillers Market to 2028 – Global Analysis and Forecast – by Product, Material, Application, End User, and Geography,” the Dermal Fillers Market Size is projected to reach US$ 9,421.33 million by 2028 from US$ 4,391.98 million in 2021; it is estimated to grow at a CAGR of 11.5% from 2021 to 2028.

Dermal Fillers Market: Competition Landscape and Key Developments
AbbVie Inc., Galderma, Merz Pharma, Suneva Medical, BIOXIS pharmaceuticals, HUADONG MEDICINE CO.,LTD, BIOPLUS CO., LTD., TEOXANE LABORATORIES, BIOHA LABORATORIES, and Prollenium Medical are among the key companies operating in the dermal fillers market. Leading players focus on expanding as well as diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.

In February 2021, Galderma announced the FDA approval of Restylane Defyne for the augmentation and correction of mild to moderate chin retrusion among adults aged 21 and above.

In February 2021, Merz Aesthetics, the world’s largest dedicated medical esthetics business, announced the launch of BELOTERO BALANCE (+), the lidocaine formulation of BELOTERO BALANCE, in the US.

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In June 2020, Galderma launched lip filler with stay-at-home model shoots, telehealth materials. It switched to digital information and materials, for instance, for healthcare providers to use with patients during telehealth sessions.

In 2020, North America dominated the dermal fillers market, and the US was the largest shareholder in the regional market. Further, Asia Pacific is expected to register the highest CAGR in the market during 2021–2028. The market growth in North America is ascribed to the high adoption of non-surgical procedures, coupled with established healthcare infrastructure. Elevated disposable income and excellent spending capacity, combined with a willingness to spend on cosmetic surgeries, further propel the adoption of dermal fillers in the region. The average life expectancy is increasing in the US, which is also leading to the rise in the use of dermal fillers. According to Our World in Data, in 2019, the United Nations estimated a global average life expectancy of 72.6 years; the global average today is higher than in any country back in the 1950s. Further, as per the WHO, the number of Americans with ≥65 years of age is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the share of this age group in the total population would rise from 16% to 23% during 2018–2060.

Strategic Activities by Dermal Fillers Market Players Boost Market Growth:
The dermal fillers market players focus on introducing innovative products through extensive strategic activities. These devices are likely to produce superior treatment outcomes, compared to existing products in the market. Galderma announced that the US Food and Drug Administration (FDA) has approved Restylane Kysse for lip augmentation and correction of upper perioral rhytids (wrinkles around upper lips) in adults over the age of 21. Restylane Kysse is the first hyaluronic acid (HA) filler specifically indicated for the lips, using the XpresHAn Technology (pronounced ex-ˈspre-shan). Restylane Kysse has been proven to last for up to 1 year with high levels of patient satisfaction among people undergoing the treatment. With over 40 million treatments worldwide and counting, the Restylane family of HA dermal fillers is the broadest portfolio of dermal fillers.

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Allergan Aesthetics, an AbbVie company, announced its agreement with Luminera, a privately held esthetics company based in Israel with a portfolio and pipeline of dermal filler products. Under the terms of the agreement, Allergan Aesthetics will acquire Luminaria’s complete dermal filler portfolio and R&D pipeline, further enhancing Allergan Aesthetics’ leading dermal filler portfolio with its JUVÉDERM collection of fillers. Additionally, in 2018, the company also launched a new JUVÉDERM advertising campaign to empower the next generation of consumers to “JUVÉDERM IT.” It was designed to further Allergan’s goal of making the JUVÉDERM collection of fillers a first choice and household name for consumers.

Merz announced the launch of Belotero Lips, a product specifically designed for lip enhancement and perioral lines treatment. The line includes two HA dermal filler products that complement. Thus, strategic activities and product innovations are expected to provide growth impetus to the dermal fillers market during the forecast period.

Dermal Fillers Market: Segmental Overview
The dermal fillers market has been segmented on the bases of product, material, application, and end user. The dermal fillers market, by product, is segmented into biodegradable and non-biodegradable. The biodegradable segment is expected to hold a larger market share In 2021, and it is expected to register a higher CAGR during the forecast period. Based on material, the dermal fillers market has been segmented into calcium hydroxylapatite, hyaluronic acid, collagen, poly-l-lactic acid, polymethylmethacrylate (PMMA), fat, and other materials. The hyaluronic acid segment is estimated to hold the largest share of the market in 2021, and the collagen segment is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the dermal fillers market has been segmented into facial line correction treatment, lip enhancement, facelift, scar treatment, and others. The facial line correction treatment segment is expected to hold the largest share of the market in 2021, whereas the facelift segment is estimated to register the highest CAGR during the forecast period. Based on end user, the dermal fillers market has been segmented into dermatology clinics, multispecialty hospitals, ambulatory surgical centers, and others. The dermatology clinics segment is likely to account for the largest market share in 2021. On the other hand, the multispecialty hospitals segment is estimated to register the highest CAGR in the market during the forecast period.

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Major markets for dermal fillers such as the US, China, Spain, Italy, Germany, France, and the UK are suffering huge economic losses due to the COVID-19 pandemic. Many companies sacked employees to sustain in business, which triggered high unemployment levels, resulting in reduced purchasing powers of people. Thus, people have become more selective about beauty and cosmetic procedures because of personal and financial losses. This is anticipated to restrict the growth of the market during the forecast period. Also, various cosmetics facilities and clinics were closed for more than 3 months and suffered significant revenue losses. According to the report published by Hamilton Fraser, with the help of the National Health Service (NHS), more than 80% of the clinics in the UK were closed during the lockdown, which caused an 86% reduction in revenue. Also, the American Society of Plastic Surgeons recommended to all practitioners to cease any elective or non-essential services to the customers to reduce the risk of the SARS-CoV-2 virus transmission. Thus, a continuous rise in the prevalence of COVID-19 results in a decrease in the number of esthetic procedures performed in the last few quarters, which lowered the demand for dermal fillers.

However, despite these ill effects, Galderma is all set to roll out its newly approved Restylane Kysse lip filler. Moreover, like many businesses across the UK, cosmetic clinics reopened their doors last week and resumed offering treatments such as dermal fillers and Botox. Several clinics have been allowed to perform filler procedures for medical purposes, such as treating acne and scarring, despite the lockdown in the UK.

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