How Will The Hyaluronic Acid Based Dermal Fillers Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s hyaluronic acid based dermal fillers market report forecasts the hyaluronic acid based dermal fillers market size to grow to $6.65 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.
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Hyaluronic Acid Based Dermal Fillers Market Size Forecast
The global hyaluronic acid based dermal fillers market is expected to grow from $3.97 billion in 2022 to $4.44 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hyaluronic acid-based dermal fillers market size is expected to grow to $6.65 billion in 2027 at a CAGR of 10.6%.
North America held the largest hyaluronic acid based dermal fillers market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Hyaluronic Acid Based Dermal Fillers Market Driver – Increase In Demand For Non-Invasive Dermatology Techniques
For instance, in February 2022, The American Society of Plastic Surgeons (ASPS), a society for American plastic surgeons, said that every year more than 17 million adults opt for cosmetic surgeries that consist of minimally invasive options such as body contouring, lasers, and injections. This demand is expected to drive the hyaluronic acid-based dermal fillers market.
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Key Hyaluronic Acid Based Dermal Fillers Market Trend – Technological Advancement
Major companies operating in the hyaluronic acid-based dermal fillers sector are focused on developing new technological solutions to strengthen their position in the hyaluronic acid-based dermal fillers. For instance, in 2021, a new treatment called laser resurfacing treatments was introduced in the market which is more efficient and less invasive, addressing multiple skin concerns. It uses lasers to solve all the skin problems at once making them more appealing. Moreover, the treatment can also be used to cope with the COVID-19 stress.
Hyaluronic Acid Based Dermal Fillers Market Segment
1) By Product: Single-Phase Product, Duplex Product
2) By Usage: Speciality And Dermatology Clinics, Hospitals And Clinics
3) By Application: Wrinkle Removal, Lip Augmentation, Rhinoplasty, Other Applications
Hyaluronic Acid Based Dermal Fillers Market Major Players and Strategies
Major players in the hyaluronic acid based dermal fillers market are Bohus Biotech AB, Allergan, Galderma Laboratories L.P., Merz Pharmaceuticals, Genzyme Corporation, Anika Therapeutics Inc., LG Life Sciences, Bio Plus Co. Ltd., Sculpt Luxury Dermal Fillers Ltd., Bioxis Pharmaceutical, Sinclair Pharma, Laboratories Vivacy, Medicis Aesthetics Holdings, Inc., and Inamed Corp.
In October 2020 Allergan Aesthetics, an U.S-based manufacturer of drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system acquired Luminera Dermal Filler for an undisclosed amount. Through this acquisition, Allergan Aesthetics will acquire Luminera’s entire dermal filler portfolio as well as its RandD pipeline, complementing Allergan Aesthetics’ leading dermal filler portfolio with its JUVÉDERM® filler collection. Luminera is a manufacturer and an R and D company for injectable medical devices in the aesthetic medicine field.
The Hyaluronic Acid Based Dermal Fillers Global Market Report 2023 covers regional data on hyaluronic acid based dermal fillers market size, hyaluronic acid based dermal fillers market trends and drivers, opportunities, strategies, and hyaluronic acid based dermal fillers market competitor analysis. The countries covered in the hyaluronic acid based dermal fillers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Hyaluronic acid-based dermal fillers refer to a form of dermal filler that is only used for a short period of time. Hyaluronic acid attracts water to the skin, making it more moisturized. It is used to treat shallow and fine wrinkles with Belotero and Restyling Silk, which prevents skin from aging.
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