Increasing awareness and adaptation among the population are expected to drive the global aesthetic fillers market. The Global Aesthetic Fillers Market was valued at USD 2.3 Bn in 2020 and is expected to reach USD 4.6 Bn by 2027, growing at a CAGR of 10.4% during the forecast period.
Increasing awareness and rising adaptation of aesthetic fillers among the population are propelling factors for the growth of the global aesthetic fillers market. Moreover, rising expenditure and investment in the research and development such as dermal filler injections, new eco-friendly products are fueling factors for the growth of the market. Additionally, advancement in technologies for the development and improvement of aesthetic fillers products is likely to boost the global market.
The recent launch of new products by the key players is projected to grow the market. For instance, in 2018, Allergan-AbbVie launched injectable dermal filler called as UVEDERM that used as anti-ageing injectable. In 2019, Merz Pharmaceuticals has launched cosmetics called as Juvederm for the face treatment, specifically the cheeks, lips, and around the mouth.
However, the side effects and high-cost associated with the procedures which are the major restraining factors for the growth of the market. Further, strict laws and regulation by the government for approval of aesthetic fillers is hampering the growth of the market. For instance, in 2018, the U.S FDA warned providers and patients, the use of Juvederm (a dermal filler) was banned and reject its approval by the government of U.S. Increasing emerging market in the aesthetic fillers research and development can create a lucrative opportunity for the growth of the global aesthetic fillers market. However, the ethical and social issues related to fillers which is the major challenge for the growth of the global market.
In terms of geography, the North America region accounted for the major share of the global market. This is owing to the presence of necessary infrastructure, and skilled professionals in the region. Moreover, high funding available for research and development activities is another factor supporting North America market. Asia Pacific is projected to grow at the highest rate during the forecast period and this can be attributed to rising awareness, investment by market players, presence of emerging economies, and large number of cosmetic procedures.
The Global Aesthetic Fillers Market Segmentation:
Global Aesthetic Fillers Market, by Product Type Outlook (Revenue, USD Billion, 2021-2027)
Global Aesthetic Fillers Market, by Applications Outlook (Revenue, USD Billion, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the aesthetic fillers market are: