Dermal fillers market set for increased growth over next five years
The dermal fillers market is expected to grow at a CAGR (compound annual growth rate) of 8.6% by 2026, according to a report by Transparency Market Research.
The market was valued at $2,584.9 million (£1824.3m) in 2017 but is now expected to grow to $5,411.2m (£3,819m) thanks to the development of new hyaluronic acid dermal fillers, enhanced marketing strategies from brands and increasing awareness of the role of fillers in anti-ageing on social media.
HA fillers are predicted to hold dominance in the market across the forecast period, with 60% of procedures globally performed with this type of filler, growing as new products come to market with differing concentrations of HA and degrees of crosslinking, offering enhanced longevity and effects and a wider choice for practitioners.
In terms of application, facial line correction, which can also be thought of as volume restoration, is expected to remain the most popular treatment across the forecast period, compared to lip enhancement, scar treatment and others. The report attributes this to the varied age demographic of those seeking general rejuvenation, from young adults wanting to beautify to middle-aged and older adults who desire anti-ageing maintenance.
The dermatology clinics segment is expected to expand at a robust rate in terms of end user as more people become educated to the specialism of aesthetic medicine and seek dermatology specialists for treatment.
While the US was the major revenue-generating country in the market in 2017, the market in Asia Pacific is forecasted to grow between now and 2026, attributed to increasing demand for dermal filler treatments in Japan, India and China.
Leading market players include Allergan, Sinclair Pharma, Merz Pharma, Galderma and Teoxane.
