Hyaluronic acid based dermal fillers are the products, used for treatment of acne, wrinkles, and scars and augmentation of cheek, lip, and chin. They can hydrate, stimulate new collagen, volumize, and soften fine lines on the face. The key characteristics are included relatively less expensive, ease of usage and comparatively highly effective.
According to study, “Global Hyaluronic Acid Dermal Filler Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global hyaluronic acid dermal filler market are Galderma, Sanofi, Allergan, LG Life Sciences, Merz, Anika Therapeutics, Sinclair, SciVision Biotech, Teoxane, Bloomage Freda Biopharm, Hyaltech, Haohai Biological Technology, Mentor, Jingjia Medical Technology, Adoderm, Singclean Medical, Beijing IMEIK.
Based on product, hyaluronic acid dermal filler market is segmented into single-phase products and duplex products. Single-phase products are used by dermatologist and customers for correction of soft tissue facial deformities as the uncross-linked hyaluronic acid increases elastin and collagen production that gives a youthful & healthy-looking glow to the skin. Duplex products are used for the correction of nasolabial folds and glabellar lines owing to their enhanced durability.The single-phase fillers segment is estimated to witness lucrative growth due to numerous applications in skin & facial aesthetic procedures, and rapid technological advancements for developing new fillers during the forecast period. Based on application, market is segmented into lip augmentation, wrinkle removal, rhinoplasty, and others. The wrinkle removal segment dominates the market on account of increase in trend of social networking websites, popularity of the procedure among women as well as men of all age groups. In addition, based on end-user, market is segmented into hospitals & clinics and specialty & dermatology clinics.
The hyaluronic acid dermal filler market is driven by increase in geriatric population, followed by rise in applications in regenerative medicine & tissue engineering, increase in number of dermatology clinics, strong influence of social media, rise in awareness & importance of quality of life and growth in demand for anti-aging solutions & minimally invasive aesthetic treatment. However, high cost and side effects associated with hyaluronic acid cycles may impact the market. Moreover, rise in technology to produce inject the filler into the skin is a key opportunity for market.
Based on geography, the North-American and European regions dominate the hyaluronic acid dermal filler market owing to growth in demand for invasive injection of dermal fillers to remove wrinkles from the skin & look young in the regions. The Asian-Pacific region is expected to exhibit lucrative growth rate due to rise in demand for aesthetic procedures and increase in disposable income of consumers over the forecast period. In upcoming years, it is anticipated that future of the market will be bright caused by increase in awareness regarding minimally invasive procedures for cosmetic & aesthetic medicinal treatments and rise in efficiency of the hyaluronic acid dermal filler during the forecast period. The global market is estimated to grow at a CAGR of approximately 7.4% over the next five years, will reach US $1290 million in 2024, from US $840 million in 2019.
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Ankur Gupta, Head Marketing & Communications