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The global hyaluronic acid based dermal fillers market size was valued at USD 2,680.9 Million in 2018 and is projected to reach USD 4,884.6 Million by 2026, exhibiting a CAGR of 7.8% in the forecast period
Hyaluronic acid based dermal fillers are based on hyaluronic acid also known as hyaluronan, a clear substance that is naturally produced in the human body. Existing market players operating in the market are focusing on constant innovation and up-gradation of their product portfolio with new and efficient product offerings for better and accurate aesthetic outcomes for the patients.
One of the critical reasons for the growth of the global hyaluronic acid-based dermal fillers market is the increasing demand for aesthetic beauty, driven by the minimally invasive nature of the procedures and the increasing efficiency of the hyaluronic acid based dermal fillers. Rise in awareness regarding hyaluronic acid based dermal fillers in both developing and developed nations, and the emergence of new products and the associated new indications such as laugh lines, are also propelling the hyaluronic acid based dermal fillers market growth.
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This, coupled with, increasing investments by major players in research and development for new hyaluronic acid based dermal fillers is also contributing to the growth of the market globally. The increased demand in the global market is also primarily driven by better safety features of the hyaluronic acid based dermal fillers and the comparative longevity of the hyaluronic acid based dermal fillers.
Some of the other factors which are also contributing to the growth of the market are the increase in the geriatric population and the external environmental factors leading to the early aging of the skin. The introduction of new and advanced hyaluronic acid based dermal fillers such as Belotero Revive, a dermal filler containing the unique combination of hyaluronic acid and glycerol by Merz Pharma expected to drive the global hyaluronic acid based dermal fillers market growth in developed as well as emerging countries, during the forecast period 2019-2026.
"New product launches of the hyaluronic acid based dermal fillers along with lower risk of allergic reactions and increasing efficiency is driving the growth of the global market"
Wrinkle correction treatment is anticipated to account for the highest market share in the global market due to the status of hyaluronic acid based dermal fillers as the gold standard for the correction of facial lines. The new product launches for the hyaluronic acid based dermal fillers are driving the growth of the segment and the same is expected to drive the growth of the market during the forecast period. Some of the other factors anticipated to drive the growth of the wrinkle correction treatment are the minimal risk of allergic reactions from hyaluronic acid based dermal fillers, the non-requirement of skin testing and increasing global geriatric population.
A number of hyaluronic based dermal fillers are approved by the Food and Drug Administration (FDA) for the correction of wrinkles and other fine lines. These factors are also driving the growth of the hyaluronic acid based dermal fillers segment. The lip enhancement segment is also estimated to increase the hyaluronic acid based dermal fillers market share due to the increasing number of cosmetic lip procedures. This is anticipated to fuel the growth of the segment during the forecast period.
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Based on application, the global market segments include scar treatment, wrinkle correction treatment, lip enhancement, restoration of volume/ fullness, and others. The wrinkle correction treatment segment dominated the hyaluronic acid based dermal fillers industry in 2018. The wrinkle correction treatment segment accounted for a market share of 35.7% in 2018 and is expected to increase during the forecast period. Based on crosslinking type, the global market segments include monophasic, and biphasic. Based on end user, the global market segments include specialty & dermatology clinics, hospitals & clinics, and others.
"Growing Awareness of Aesthetics and Increasing Demand for Hyaluronic Acid Based Dermal Fillers Expected to Result in The Highest CAGR in the Asia Pacific"
North America generated a revenue of USD 1,221.6 Million in 2018 and is anticipated to account for a dominant share in the hyaluronic acid based dermal fillers market during the forecast period. Growth witnessed in the region is likely to be driven by the increasing demand for advanced hyaluronic acid based dermal fillers with an increased safety profile, which results in significantly less adverse reactions. This is especially applicable in instances where there is a steady adoption of hyaluronic acid based dermal fillers because of its status as a completely natural material found in the human body and also its comparatively stronger safety record.
In emerging countries such as India and China, the rise in awareness of hyaluronic acid based dermal fillers and the increasing demand for aesthetics is fueling growth in the hyaluronic acid based dermal fillers market during the forecast period. In countries like China and India, due to the strategies employed by key market leaders, new products are being launched. In Japan, there is a significant demand for these dermal fillers due to the availability of advanced hyaluronic acid based dermal fillers and the high proportion of the geriatric population. In Latin America, Brazil is one of the leading markets due to the high number of hyaluronic acid based dermal fillers procedures in the country. In Middle East & Africa, Africa is in the nascent stage of market growth.
North America Hyaluronic Acid Based Dermal Fillers Market Size, 2018
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"ALLERGAN, Merz Pharma and Galderma laboratories to be the leading players in the hyaluronic acid based dermal fillers market"
ALLERGAN, emerged as the leading player operating in the market, with the highest market share in 2018, as the company has a number of technologically advanced and specialized products as per varied indications due to its JUVÉDERM family of hyaluronic acid based dermal fillers. This range has a number of hyaluronic acid based dermal fillers according to various indications such as the correction of wrinkles and enhancement of the lips.
In addition, other market players are also launching new products such as Merz Pharma, which recently launched the product offering of Belotero Revive. Other players operating in the market are Merz Pharma, Galderma laboratories, Sinclair Pharma, BioPlus Co., Ltd., Bioxis pharmaceuticals, SCULPT Luxury Dermal Fillers LTD, DR. Korman, Prollenium Medical Technologies, CANDELA CORPORATION, Suneva Medical, and Anika Therapeutics, Inc.
The increasing demand for hyaluronic acid based dermal fillers in the general population is one of the key factors driving the growth of the market. The increasing R&D initiatives in the global market and the recent regulatory approvals are also positively contributing to the growth of the market. The introduction of new products in the market, along with an increasing number of patients undergoing aesthetic procedures globally is projected to further augment the demand for hyaluronic acid based dermal fillers which will augment the hyaluronic acid based dermal fillers market share during the forecast period.
The report provides qualitative and quantitative insights on the hyaluronic acid based dermal fillers industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market segments include crosslinking type, application, end user, and geography. On the basis of the crosslinking type, the market include monophasic, and biphasic.
On the basis of application, the global industry is segmented into scar treatment, wrinkle correction treatment, lip enhancement, restoration of volume/ fullness and others. On the basis of the end user, the market is categorized into specialty & dermatology clinics, hospitals & clinics, and others.
An Infographic Representation of Hyaluronic Acid Based Dermal Fillers Market
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Along with this, the report analysis includes the hyaluronic acid based dermal fillers market dynamics and competitive landscape. Various key insights provided in the report are the overview of the number of hyaluronic acid based dermal fillers procedures by key countries, overview of regulatory scenario by key countries, overview of reimbursement scenario by key countries, pipeline analysis, new product launches and key industry developments - mergers, acquisitions, and partnerships and key growth indicators of market.
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Fortune Business Insights says that the value of the global Hyaluronic Acid Based Dermal Fillers Market was USD 2,680.9 Million in 2018.
The Hyaluronic Acid Based Dermal Fillers Market is projected to reach USD 4,884.6 Million by 2026.
The Hyaluronic Acid Based Dermal Fillers Market will grow at the rate of 7.8% CAGR.