New Delhi, July 25, 2019: Global Facial Rejuvenation Market is estimated to value over USD 25.10 billion by 2026 end and is projected to register a CAGR of 4.9% during the forecast period 2018 to 2026. The cosmetic treatments that require minimally invasive procedures are gaining popularity thus resulting in the proliferation of the facial rejuvenation market. There is a growing demand for aesthetic treatment especially from the female patient population, which has further augmented the market significantly.
Several cosmetic companies are taking efforts in expanding their market by introducing advanced treatments for nasal folds, forehead lines, glabellar lines, wrinkles through products like botulinum and dermal fillers which has boosted the market growth further.
FDA has approved absorbable dermal fillers for cheek and lip augmentation and contour deficiencies in patients over the age of 21, which shall prove instrumental for the market to grow significantly.
The botulinum toxin segment accounts for around 1/3rd of the total facial rejuvenation treatment revenue share owing to its high usage especially among models and celebrities who need to keep their skin tight to look young. Furthermore, portable laser-based devices integrated with topical skincare products have witnessed increased adoption, which has boosted the market growth further.
The hospital segment accounts for the highest market share owing to the premium quality of infrastructure that hospitals offer. Additionally, with the introduction of multispecialty hospitals, the acquisition of the patient population has significantly increased thus assisting the facial rejuvenation market to thrive.
However, emerging economies like India and China have a majority of the population in the lower-middle-class category that cannot afford before-mentioned high expenditures which is why dermatology clinics are preferred for facial rejuvenation treatments in these countries.
North America to Hold Highest Market Share
The North American region is expected to account for the highest market share and strengthen its market position in terms of revenue owing to a rise in the number of female patient population pursuing anti-ageing solutions. Some of the factors responsible for the market to flourish in this region are low treatment costs and high demand for facial rejuvenation products to look young.
Europe is the second-largest market after North America owing to the increase in several minimally-invasive procedures coupled with a population that is rapidly ageing due to lifestyle choices like smoking cigarettes, drinking alcohol, etc. Additionally, these non-invasive treatments are cost-effective which has increased their adoption in this region.
Facial rejuvenation product manufacturers are collaborating and merging with various local facial rejuvenation product manufacturers to strengthen their market position. For instance, in 2017, Merz and Teijin partnered to bring Xeomin to Japan.
The Latin American region is projected to exhibit a significant market growth during the forecast period owing to cost-effective treatments offered to the patient population of this region. This is also the case with the Asia Pacific region as a majority of the patient population is lower-middle-class who can afford such treatments.
Key Market Players:
• Allergen Plc
• Merz GmbH
• Nestle Skin Health
• Bosch Pharmaceuticals
Allergen has a strong product line up in dermal filler and botulinum toxin segment. The company has initiated to expand their geographical reach beyond the U.S market and this has been made possible with the launch of new product line ups. The company launched Juvederm Volite in 2017 which can be used by adults over the age of 21 for treating facial wrinkle and folds correction.
Key Strategy: One of the key developmental strategies of Allergen Plc is to obtain approvals for their products. The primary intention of getting approvals is to gain authenticity for their facial treatment products so as to target potential market regions like Asia Pacific and Latin America.
The insights presented here are from a research study on Global Facial Rejuvenation Market by FutureWise Market Research.
Corporate Comm India (CCI Newswire)
