Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSThe South America hyaluronic acid-based dermal fillers market is estimated to garner a revenue of USD 1028419 Thousand by the end of 2028 from a revenue of USD 321008.2 Thousand in 2017 by growing with a CAGR of 11.8% during the forecast period, i.e., 2020-2028. The growth of the market can be attributed to the rapidly increasing demand for minimally invasive facial treatment in the region, along with the rising aging population, and therefore the need to treat numerous skin problems.
One of the major factors that causes numerous skin problems is the increasing age of individuals. According to the statistics by the United Nations, the number of persons aged 65 years or over around the world recorded to 702.9 Million in the year 2019, and it is further estimated to reach 1548.9 Million by the end of 2050. Further, in Latin America, the number of persons aged 65 years or over reached 56.4 Million in 2019 and is further estimated to touch 144.6 Million by the end of 2050. CLICK TO DOWNLOAD SAMPLE REPORT
By far, people belonging to age group 40 or above are the primary users of dermal fillers. At this age, the body produces significantly less amount of collagen and elastin, the chemicals which are known to keep the skin firm. Owing to the less production of such biochemicals, many men and women prefer using dermal fillers to help them look beautiful and young, which is anticipated to drive the market growth. Further, the demand for non-invasive and minimally invasive skin-tightening procedures has increased significantly in the region over the past few years, which is also anticipated to contribute to the growth of the market during the forecast period.
Geographically, the South America hyaluronic acid-based dermal fillers market is segmented into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and Rest of South America. Amongst the market in these countries, the market in Brazil is anticipated to hold the largest market share of 39.30% and attain a market revenue of USD 404,168.7 Thousand by the end of 2028. The market in the country is further projected to grow with a CAGR of 10.4% during the forecast period. The growth of the market in the country can be attributed to the increasing availability of different filler options, and the rising demand for non-surgical procedures. Moreover, the growing awareness for skin tightening procedures among the growing aging population in the country is also anticipated to contribute to the growth of the market in Brazil. According to the statistics by the World Bank, population aged 65 and above in the country increased from 9,175,089 numbers in 2000 to 19,525,475 numbers in 2019.
The South America hyaluronic acid-based dermal fillers market is segmented by product type into monophasic and biphasic, out of which, the monophasic segment is anticipated to grow with the highest CAGR of 12.0% during the forecast period. Further, by composition, the market is segmented into with lidocaine, and without lidocaine, out of which, the with lidocaine segment is anticipated to hold the largest market share and grow with a CAGR of 12.0% during the forecast period. By application, the market is segmented into scar treatment, wrinkles treatment, lip augmentation, cheek augmentation, chin augmentation, restoration of volume, and rhinoplasty. Amongst these segments, the lip augmentation segment is projected to grab the largest market share throughout the forecast period and further gain a market revenue of USD 213871.8 Thousand by the end of 2028. HA dermal fillers are used extensively in South America for lip augmentation procedures. It is to be noted that hyaluronic acid helps in increasing the volume of the lips. The HA based dermal fillers are commonly prescribed to first time filler patients. These fillers usually last from 6 to 18 months. Additionally, the HA fillers provide shape, volume, and structure to the lips, which is why it is highly preferred among the people. Such factors are anticipated to drive the growth of the segment during the forecast period. Furthermore, the market is segmented by distribution channel into online and offline, out of which, the online segment is projected to grow with the highest CAGR throughout the forecast period. Based on end user, the hospitals segment is estimated grab the largest market share by the end of 2028.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the South America hyaluronic acid-based dermal fillers market that are included in our report are Merz Pharma, HUGEL, Inc., TEOXANE SA, Allergan, Galderma, LG Chem, Sinclair Pharma, Medytox, and others.
FREQUENTLY ASKED QUESTIONS
The increasing demand for minimally invasive facial treatment, along with the increasing aging population, are some of the factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 11.8% over the forecast period, i.e., 2020-2028.
The high cost of dermal filler procedures is one of the major factors estimated to hamper the market growth.
The major players in the market are Merz Pharma, HUGEL, Inc., TEOXANE SA, Allergan, Galderma, LG Chem, Sinclair Pharma, Medytox, and others.
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 type, composition, application, distribution channel, end user, and by country.
The lip augmentation segment is anticipated to grab the highest market share throughout the forecast period and further gain a market revenue of USD 213871.8 Thousand by the end of 2028.
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