Newark, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 6 billion in 2022 global facial injectables market will reach USD 15.56 billion in 2032. Every year, millions of cosmetic procedures are performed worldwide. For instance, four million cosmetic procedures were carried out in the USA in 2022. The most popular cosmetic procedures involve the face. One of the key driving forces in cosmetic procedures is social media. Numerous influencers and celebrities choosing to get facial injectables inspire hundreds of their fans to follow suit. The American Society keeps a record of cosmetic and dermatological procedures performed in the US and reported that there had been a 58% increase in demand for these procedures. The procedures are primarily temporary, non-invasive facial injectables like Botox. The growing emphasis on anti-ageing, chiselled jawline, tucked chin, facelift, plum lips and high cheekbones drives the global facial injectable market worldwide.
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Key Insight of the Global Facial Injectables Market
North America is expected to dominate the market during the forecast period.
The region's young population is fueling the market's expansion by having more cosmetic procedures performed. The increasing importance of gender identity and bodily autonomy drives the desire for cosmetic operations. Given their large fan bases, pop singers and Hollywood stars are significantly increasing the demand for facial injectables. The expanding network of service providers with cutting-edge facilities to perform any cosmetic surgery with successful results will aid the market's expansion.
In 2022, the hyaluronic acid segment dominated the market with the largest market share of 37% and revenue of 2.22 billion.
The product type segment is divided into botulinum toxin, hyaluronic acid, polylactic acid, fat injection, collagen, calcium hydroxylapatite, polymethyl-methacrylate microspheres, and others. In 2022, the hyaluronic acid segment dominated the market with the largest market share of 37% and revenue of 2.22 billion.
In 2022, the wrinkle reduction segment dominated the market with the largest market share of 27% and market revenue of 1.62 billion.
The application segment is divided into wrinkle reduction, acne scar treatment, lip enhancement, facelift, lipoatrophy treatment, and others. In 2022, the wrinkle reduction segment dominated the market with the largest market share of 27% and market revenue of 1.62 billion.
In 2022, the dermatology and cosmetic clinics segment dominated the market with the largest market share of 43% and revenue of 2.58 billion.
The end-user segment is divided into hospitals, ambulatory surgical centres, dermatology and cosmetic clinics, and others. In 2022, the dermatology and cosmetic clinics segment dominated the market with the largest market share of 43% and revenue of 2.58 billion.
Advancement in market
September 2022 - An innovative injection that can keep a forehead frozen-smooth for six months has now received FDA approval. The most recent method of treating fine lines and wrinkles brought on by facial muscle activity is called Daxxify. Revance Therapeutics, a biotech firm, produces Daxxify. It is an injectable botulinum toxin stabilised differently from the most widely used injectable medicines in the medical-aesthetic industry, Botox Cosmetic and Dysport. Botulinum toxin stabilised by protein makes up both Dysport and Botox virtually identically. Daxi, a botulinum toxin, depends on a stabilising peptide rather than protein to let it last longer.
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Market Dynamics
Driver: The growing interest in cosmetic procedures.
The importance of outward appearance in the modern world has increased with the rise of social media. The younger generation is influenced by more social media personalities regarding fashion, beauty, and health. The increased obsession with anti-ageing techniques to appear younger has also contributed to the rising demand for cosmetic procedures. The market participants work with these influencers to sell their goods and services. As these procedures become more widely available and cheap, the market's growth is being boosted by rising disposable income. Additionally, expanding private dermatological practices and the availability of cosmetic surgery in hospitals will benefit the market. Therefore, the rise of the worldwide facial injectables market will be fueled by the rising demand for cosmetic operations. Additionally, obtaining these operations for wrinkle reduction, lightening of spots, and acne reduction is common in various nations.
Restraints: Face injectables' adverse effects.
Bruising, redness, and swelling are frequent side effects of receiving facial injectables. However, they might develop almost once following the treatment or a few weeks, months, or years later, necessitating a repeat procedure, which would be costly and stressful for the client. Additionally, if not appropriately treated, the adverse effects could harm the operated area for a while and result in scarring. Cosmetic injectables are short-lived and transient. They must be redone, which is not practical without insurance. As a result, the adverse consequences of facial injectables will restrain market expansion.
Opportunities: The growing product innovation.
The market participants have increased their research & development spending to produce new, more efficient, sophisticated, and cost-effective solutions due to the introduction of newer products and the rising demand for facial injectables. New skincare products are now available that are more effective, long-lasting, natural, and inexpensive, increasing their marketability and consumer base. Consequently, the launch of new items will fuel the market's expansion.
Challenges: The lack of insurance coverage.
Most insurance cover programs do not offer services for cosmetic procedures. They are primarily drawn up for accidents or other illness that impacts the consumer's livelihoods or quality of life. Cosmetic procedures are not necessary in most cases when it comes to the healthy functioning of the human body. The lack of insurance coverage for cosmetic procedures makes them unaffordable and inaccessible, challenging the market's growth.
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Some of the major players operating in the global facial injectables market are:
• Allergan, Inc.
• Anika Therapeutics Inc.
• Bloomage BioTechnology Corporation Limited
• Galderma Laboratories
• Ipsen
• Medytox Inc.
• Merz Pharma
• Prollenium Medical Technologies
• Sinclair Pharma Plc
• Suneva Medical, Inc.
Key Segments cover in the market:
By Product Type
• Botulinum Toxin
• Hyaluronic Acid
• Polylactic Acid
• Fat Injection
• Collagen
• Calcium Hydroxylapatite
• Polymethyl-Methacrylate Microspheres
• Others
By Application
• Wrinkle Reduction
• Acne Scar Treatment
• Lip Enhancement
• Facelift
• Lipoatrophy Treatment
• Others
By End User
• Hospitals
• Ambulatory Surgical Centres
• Dermatology and Cosmetic Clinics
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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