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Dermal Fillers Market Size worth USD 6.64 Billion by 2027 at 9.3% CAGR; High Demand for Minimally Invasive Surgeries to Boost Growth: Fortune Business Insights™

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Pune, India, Jan. 08, 2021 (GLOBE NEWSWIRE) — The global dermal fillers market is set to gain traction from the increasing usage of hyaluronic acid dermal fillers as they are considered to be the gold standard material for facial fillers, such as restoration of volume/fullness, scar treatment, lip enhancement, and wrinkle correction. The report further mentions that the market size was USD 3.73 billion in 2019 and is projected to reach USD 6.64 billion by 2027, exhibiting a CAGR of 9.3% during the forecast period.Increasing Need to Appear Youthful and Healthy will Favor GrowthIn today’s world, the demand for non-invasive or minimally invasive procedures and cosmetic surgeries, such as filler injections and botulinum toxin injections has surged rapidly. People are seeking out for pain-free and easy techniques to appear healthy and youthful, unlike invasive cosmetic surgeries. The American Society of Plastic Surgeons, for instance, reported that since 2000, the number of minimally invasive cosmetic surgeries has increased to 200%. It has shown no indication of reducing. These factors are expected to bolster the dermal fillers market growth in the near future. However, the high cost of these fillers may hamper growth.
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Hyaluronic Segment Generated 77.0% Share in 2019Based on material, the hyaluronic acid segment earned 77.0% in the dermal fillers market and dominated in 2019. This growth is attributable to the increasing number of new product launches under this segment by prominent companies worldwide.COVID-19 Pandemic: Delay of Non-COVID-related Procedures May Obstruct GrowthThe COVID-19 pandemic has affected the healthcare sector across the globe. The prolonged lockdown has caused cancellation or postponement of non-COVID-related healthcare procedures to maintain safety. Allergan stated in its quarterly report that it showcased a decline of around 0.5% in revenue compared, compared to last year. But, numerous dermatological centers and specialty clinics have exhibited 70% increase in virtual consultations requests amid the lockdown period. We are offering in-depth research reports to help you better understand the current scenario and take steps accordingly.
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Increasing Investments in Research and Development Activities to Propel Growth in EuropeGeographically, North America procured USD 1.72 billion in terms of revenue in 2019. The American Society of Plastic Surgeons declared that in the U.S., approximately 15.9 million minimally-invasive cosmetic procedures were performed in 2018. It is one of the most significant factors responsible for the high demand for these fillers in this region.On the other hand, Europe held the second-highest market position in 2019 because of the rising geriatric population in the region. Besides, the surging investments in research and developments activities in the region would propel growth. In Asia Pacific, is set to exhibit the highest CAGR throughout the forthcoming years backed by the increasing awareness of people living in Asian countries to enhance their physical appearances.
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Key Players Focus on Introducing Novel Products to Intensify CompetitionThe market houses a large number of organizations that are nowadays mainly focusing on launching technologically advanced products to cater to the high demand from customers worldwide. Below are the two latest industry developments:August 2020: Revance introduced its new line of dermal fillers named RHA (resilient hyaluronic acid) collection. The company aims to strengthen its position in the aesthetics industry by developing a sophisticated category of unique products and services. It is also trying to offer state-of-the-art experiences to customers and patients.April 2019: Allergan unveiled Juvéderm® VOLUX, its latest facial fillers at the 17th Aesthetic & Anti-Aging World Congress (AMWC) in Europe. It is equipped with the innovative VYCROSS® technology and hyaluronic acid (HA). It can create and restore volume in the jaw and chin area for around 18 to 24 months.
A list of all the renowned manufacturers operating in the global market:ALLERGAN (Dublin, Ireland)Revance Therapeutics, Inc. (California, U.S.) Merz Pharma (Frankfurt, Germany)Galderma (Lausanne, Switzerland)Sinclair Pharma (London, U.K.)Sun Pharmaceutical Industries Ltd (Mumbai, India)BIOPLUS CO., LTD. (South Korea)Bioxis Pharmaceuticals (Lyon, France)SCULPT Luxury Dermal Fillers LTD (U.K.)DR. Korman (Kiryat Bialik, Israel)Prollenium Medical Technologies (Toronto, Canada)Suneva Medical (California, U.S.)Anika Therapeutics, Inc. (Massachusetts, U.S.)
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Table of Contents:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsOverview of the Number of Dermal Fillers Procedures by Key CountriesOverview of Price Analysis of Types of Dermal FillersOverview of Regulatory Scenario by Key CountriesOverview of Reimbursement Scenario by Key CountriesNew Product LaunchesPipeline Analysis-Key ProductsImpact of COVID-19 on Dermal Fillers MarketGlobal Dermal Fillers Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By MaterialHyaluronic AcidCalcium HydroxylapatitePoly-L-lactic AcidPMMA (Poly (methyl methacrylate))Fat FillersOthersMarket Analysis, Insights and Forecast – By ProductBiodegradableNon-BiodegradableMarket Analysis, Insights and Forecast – By ApplicationScar TreatmentWrinkle Correction TreatmentLip EnhancementRestoration of Volume/ FullnessOthersMarket Analysis, Insights and Forecast – By End UserSpecialty & Dermatology ClinicsHospitals & ClinicsOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa

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