Brussels, Belgium, May 23, 2022 (GLOBE NEWSWIRE) --
Description:
Dermal fillers are gel-like substances that are injected below the skin to restore lost volume, smooth lines and soften creases, and enhance facial contours.
Covid-19, Financial Bottlenecks, 'Zoom Boom‘and Rebound of the Dermal Fillers Market
Covid-19 adversely impacted the dermal fillers market globally and as a result, several aesthetic service providers were compelled to change their methods of delivery. Facial aesthetics clinics were not allowed to operate, and people were not allowed to visit them. With business completely shut down for a period, the aesthetic industry witnessed a financial hit. These disruptions encouraged several suppliers to advance their businesses to online platforms and ordering systems.
However, despite the Covid-19 pandemic, the aesthetic industry is now on the recovery path. Since early 2020, aesthetics clinics worldwide have witnessed an overwhelming spike in bookings for cosmetic enhancements due to Covid-19 & the ‘Zoom Effect. It's been dubbed the "Zoom Boom" in the sector because people are using video calls more for work and socializing and hence have become more conscious of their appearance after seeing their faces (facial expressions & wrinkles) on video calls every day on Zoom. Plastic surgeons across the globe reported an exponential rise in consultation requests for demand fillers since 2020.
Regulation of Dermal Fillers Likely to Become Stricter in the European Union (EU) With the Introduction of New Medical Device Regulation (MDR)
Within the EU, medical devices used to be regulated through the Medical Devices Directive (MDD), which required all medical devices to have a CE certification. This did not include dermal fillers.
However, from May 2021, the MDD has been replaced by MDR which classifies dermal fillers as Class III medical devices. With the introduction of new MDR, manufacturers need to comply with the MDR requirements. If manufacturers fail to comply with the MDR requirements, they will be unable to market their products within the EU.
“The EU move to MDR is likely to create entry barriers. Smaller manufacturers who cannot support their products with clinical studies will be driven out.” - Head of Aesthetics Division, Leading Aesthetic Product Manufacturer, UK
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in Dermal Fillers Market
The dermal fillers market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and partnerships to garner market share. For instance,
- In December 2021, Revance’s partner, Teoxane SA, received U.S. FDA approval for RHA® Redensity’s first indication, which is for the treatment of moderate to severe dynamic perioral rhytids (lip lines) in adults aged 22 or older. RHA® Redensity bolsters the versatility of the RHA® Collection of dermal fillers.
The dermal fillers market is set to witness double-digit growth in the coming years due to the growing prominence of digitalization, automation tools, and data-driven solutions that utilize predictive analytics, AI, and ML. These tools are increasingly being used for:
- Streamlining resource allocation in medical facilities.
- Doctors and care managers can outline populations, target their most complex patients, and identify rising-risk patients.
- Managing patient load and assisting in capacity management - Allocating emergency rooms based on the severity of the illness, and reducing patient service turnaround time.
- Streamlining the insurance claim process that costs the hospitals significant labor hours. The technology also assists in checking eligibility and subsequent data migration, quickly and effectively.
Competitive Landscape Analysis: Dermal Fillers Market
The global dermal fillers market is marked by the presence of players such as Allergan (Part of AbbVie), Galderma, Merz Pharma, Teoxane, Sinclair, Revance Therapeutics, Prollenium Medical Technologies, Bioxis Pharmaceuticals, among others.
Explore Detailed Research Insights on Dermal Fillers Market @ https://meditechinsights.com/dermal-fillers-market/
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