In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSIn order to improve the hydration, elasticity, and firmness of the skin as well as the appearance of fine lines, Merz Pharma, a world authority in medical aesthetics, has introduced Belotero Revive, a dermal filler product. It contains a special blend of hyaluronic acid (HA) and glycerol.
Ipsen Pharma announced that it will invest in a brand-new, cutting-edge electronic autoinjector for Somatuline Autogel / Somatuline Depot (lanreotide), bringing the category even further into the future and enhancing patient administration and injection experiences.
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~10% |
|
Base Year Market Size (2022) |
~ USD 18 Billion |
|
Forecast Year Market Size (2033) |
~ USD 36 Billion |
|
Regional Scope |
|
The global facial injectables market is estimated to garner a revenue of ~ USD 36 Billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 18 Billion in the year 2022. The growth of the market can be attributed to growing concern of people for physical appearance in every age group of people and rapid rising beauty industry. According to an estimate, adults under 25 worry about their appearance for more than an hour and a half every day, which equates to 26 days a year.
Get more information on this report:Download Sample PDF
Facial injectable are proved to be effective in eliminating wrinkles. With the growing age wrinkles are the most common condition people face. Hence growing aging population is expected to boost the market further. As per estimate, in 2019, there were 703 million people worldwide who were 65 or older.
Growing Income Level of the Population - It is predicted that, the people tend to spend more when their income level is high. As facial injectable carries huge price the increase level of income is expected to make it easier for people to spend more on this treatment. Hence this factor is expected to drive the growth of the market. Up from roughly 90 million households in 2019, it was predicted that 130 million families would have an annual income of between USD 3000 and USD 9000 by 2022.
Growing Geriatric Population - According the World Health Organization, one in six persons on the world would be 60 years of age or older by the year 2030.
Increasing Proportion of Male Populace - The population of the world had almost 40 million more men than women as of 2021.
New Product Launch - In order to treat moderate to severe facial creases and folds, including nasolabial folds, the U.S. Food and Drug Administration ("FDA") approved EVOLENCE. New structural dermal filler EVOLENCE, a first of its type, is based on innovative collagen technology.
Growing Preference Towards Minimally Invasive Procedures - Long-term results, the surgeon's recommendations, and the probability of complications were recognised by patients as being the most important considerations when choosing between open and MIS surgery, according to the NCBI. Patients also thought that MIS surgery was superior than open surgery in terms of postoperative discomfort, complication risk, recovery time, cost, and the requirement for anaesthesia. The majority of patients seem to prefer minimally intrusive forms of therapy.
Side Effects Associated with Dermal Injectables - Dermal injectors lead to various side effects including bruising, and swelling. In some cases, it might also cause a bluish discoloration of the skin overlaying the filer. Hence this factor is expected to hinder the growth of the facial injectables market.
High Cost Attributed to these Procedures
Lack of Reimbursement Policies
The global facial injectables market is segmented and analyzed for demand and supply by application into wrinkle reduction, facelift, acne scar treatment, lipoatrophy treatment, and lip enhancement. Out of which, the lip enhancement segment is estimated to garner the largest revenue by the end of 2033, backed by increasing demand for aesthetic enhancement of lips, growing concern for appearance, rising beauty standards and rapid boost in cosmetic sector. According to an estimate, approximate 1 Million lip filler procedure were performed by healthcare profession in the year 2018.
The Asia Pacific facial injectables market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to increasing disposable income in the region, high expenditure on cosmetic surgery, increasing awareness about appearance and rising beauty standards. For instance, Singapore's anticipated disposable income per capita within the ASEAN region was expected to be roughly around 28 thousand dollars.
Our in-depth analysis of the global facial injectables market includes the following segments:
|
By Product |
|
|
By Application |
|
|
By End-User |
|
FREQUENTLY ASKED QUESTIONS
The major factors driving the growth of the market are growing income level of the population, growing geriatric population, increasing proportion of male populace, and others.
The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2023 – 2033.
Side effects associated with dermal injectables, high cost attributed to these procedures, and lack of reimbursement policies are some of the major factors expected to hinder the growth of the market.
The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
The major players in the market are Ipsen Pharma, Merz Pharma, Suneva Medical, Inc., Medytox, and more.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, allocation, end user, and by region.
The lip enhancement segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions | LOB
Copyright © 2022 Research Nester. All Rights Reserved
