The global Hyaluronic Acid-Based Dermal Fillers Market size is expected to reach USD 5.9 billion by 2026, based on a new report by Grand View Research, Inc., registering a 7.4% CAGR during the forecast period. Rising emphasis on physical appearances, increasing demand from the aging population to look young and fit, and growing awareness regarding minimally invasive aesthetic procedures with faster recovery is expected to boost market growth during the forecast period.
Hyaluronic acid fillers are one of the highly recommended injectable procedures by dermatologists across the world due to their biodegradable nature. A wide range of products are available in the market for various cosmetic procedures such as wrinkle removal, lip augmentation, restoration of volume and contour, scar removal, hydration, and rhinoplasty. Manufacturers are heavily investing in product development and marketing to expand their product life cycle and their position in the market. For instance, in May 2018, Nestlé Skin Health received the U.S. FDA approval for Restylane Lyft for correction of volume and wrinkles on the back of hands in patients aged 21 and older, making it the first-ever FDA approved product of its kind for hands, or areas other than the face.
Successful marketing of products, brand recognition, and peer recommendation are key factors aiding companies in gaining market share. For instance, in 2017, Croma Pharma rebranded its Princess line of hyaluronic acid dermal fillers to Saypha, which includes products such as Saypha Rich, Filler, Volume, and Volume Plus to create a strong global brand. Similarly, Prollenium Medical Technologies, a Canadian company, launched Revanesse Versa in January 2018, which is one the latest dermal fillers approved by the U.S. FDA. The product is recommended for lip augmentation and wrinkle removal procedures and promises minimal post-injection swelling due to uniform and smooth solution.
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Further key findings from the study suggest:
- Hyaluronic acid fillers account for a majority share in the overall injectable dermal fillers market owing to their high compatibility with the human body and easy reversibility of the procedure
- Single-phase products dominated the market in 2018 and are projected to grow at a steady rate during the forecast period. This can be attributed to benefits such as longevity and desirable effects delivered by these products
- Lucrative growth in the lip augmentation segment is attributed to rising influence of social media, especially on the population aged 18 to 35 years. Moreover, hyaluronic acid fillers are the most preferred injectables due to faster recovery time, negligible side effects, and economic cost of the procedure
- North America held the largest market share in 2018 owing to easy product availability in this region and versatile application of the same in cosmetic and aesthetic medicinal procedures
- Improvements in healthcare facilities due to rapid economic development in countries such as China, Japan, and South Korea have made Asia Pacific the most lucrative market. Dermal filler treatments are in high demand in these countries and are being performed in beauty clinics and spas, mainly in urban areas
- Successful marketing of products, brand recognition, and peer recommendation are key factors aiding companies in gaining market share. Some of the key industry contributors are Allergan; Galderma Laboratories L.P; Merz Pharmaceuticals; Genzyme Corporation; Anika Therapeutics Inc.; LG Life Sciences, LTD (LG Chem); Bioplus Co. Ltd.; Sculpt Luxury Dermal Fillers Ltd; Bioxis Pharmaceutical; Sinclair Pharma; Laboratories Vivacy; and Bohus Biotech AB.
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Grand View Research has segmented the global hyaluronic acid-based dermal fillers market based on product, application, and region:
Hyaluronic Acid-based Dermal Fillers Product Outlook (Revenue, USD Million, 2015 – 2026)
- Single-Phase Product
- Duplex Product
Hyaluronic Acid-based Dermal Fillers Application Outlook(Revenue, USD Million, 2015 – 2026)
- Wrinkle Removal
- Lip Augmentation
Hyaluronic Acid-based Dermal Fillers Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
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Hyaluronic Acid Market: https://www.grandviewresearch.com/industry-analysis/hyaluronic-acid-market
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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