New York, Nov. 17, 2022 (GLOBE NEWSWIRE) -- The facial aesthetics market stands at US$ 12.3 Bn in 2022 and is predicted to expand at a high CAGR of 10.1% from 2022 to 2032. The relentless quest to remain beautiful by the baby boomer generation is expected to drive the growth of the market in developed economies such as the U.S., Germany, and U.K. as well as in developing economies such as India and China.
Facial aesthetics is a combination of cosmetic procedures that are used to restore a young appearance to the human face. Facial aesthetics can be done either through surgical and/or non-surgical methods. Several new and advanced techniques have been introduced in the market to offer non-surgical total facial rejuvenation. There are different types of facial aesthetics products such as topical products, botulinum products, dermal fillers, chemical peels, and micro-abrasion equipment.
Dermatologists prefer to treat diseases such as skin cancer through the use of topical applications rather than surgical methods. Patients prefer approved therapy for facial rejuvenation over traditional and non-approved therapy or products. Various products are being approved by respective regulatory bodies, which further strengthens the faith of consumers in these products and fuels their demand.
“Rising demand for non-invasive aesthetic procedures and the manufacturing of novel dermal fillers will drive market growth in the years ahead,” says an analyst of Persistence Market Research.
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Key Takeaways from Market Study
- Botulinum toxin held 39.3% market share under the product segment in 2021 and is expected to expand at a CAGR of close to 9% through 2032.
- Restorative treatments held more than 32% of the global facial aesthetics market share in 2021.
- By end user, hospitals generate the highest revenue and the segment held a market share of 37.8% in 2021.
- Around 31.2% of the global market share, by region, was accounted for by Europe in 2021.
Furthermore, facial aesthetic products, especially dermal fillers, are increasing due to the trend of non-invasive aesthetic treatment owing to short procedure time and fewer complications. Companies manufacturing dermal fillers are focusing on increasing their production capacity. Expansion of in-house production capacities is anticipated to boost the growth of the market in North America and Europe.
- Galderma Pharma S.A. has manufacturing sites in North America and Europe where 75% of the production is done in-house to reduce the dependability on CMOs and third parties.
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Market Competition
Manufacturers are focusing on expanding their product lines for different conditions and on emerging economies for revenue generation. Similarly, market players are expanding their presence in developing countries to generate more revenue.
- In August 2022, Allergan Healthcare India introduced Juvéderm VOLUX, an injectable implant designed to restore and create the volume of the face, which was approved by the Central Drugs Standards Control Organization (CDSCO).
- In January 2021, Galderma introduced Face for Change, a campaign intended to have a positive influence on local communities, in collaboration with Dress for Success and The Skin Cancer Foundation for the users of Dysport® injection.
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