Dermal Filler Market Expected to Reach $14.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Dermal Filler Market,"The global dermal filler market size was valued at $5,184.8 million in 2021, and is projected to reach $14,418.4 million by 2031, registering a CAGR of 10.8% from 2022 to 2031. Dermal filler is defined as a gel like substance, which is injected into the face to enhance shallow contours, plump thin lips, remove wrinkles, soften facial creases, and diminish the appearance of the scars. Hyaluronic acid is one of the most common types of dermal filler used among the population. Dermal filler is injected by the healthcare providers around the eyes, mouth, and nose. Dermal filler procedures aim to gain youthful appearance and enhance the facial features.

The factors that drive the growth of the global dermal filler market size include an increase in the prevalence of the geriatric population, technological advancements in dermal filler product, and surge in demand for anti-aging treatment. In addition, the rise in number of injectable fillers procedure in the female population, notably contributes toward the growth of the global market. According to the International Society of Aesthetic Plastic Surgery, in 2020, approximately 2.5 million hyaluronic acid procedure is conducted in the female population across the world. As per the same source, in 2020, approximately 1.3 million hyaluronic acid procedure is conducted in population of the age group between 40 to 54 years. This augments the need for dermal filler products among the geriatric population. Furthermore, market players focus on the manufacturing of advanced dermal filler for aesthetic solution. For instance, in February 2022, Merz Aesthetics, a medical aesthetics company announced the launch of Radiesse (+) Lidocaine injectable implant for deep injection to improve moderate to severe loss of jawline contour in adults over the age of 21 years. Moreover, Galderma is a dermatologist and pharmaceutical company, received approval for two aesthetic products. Thus, increase in number of dermal filler industry to manufacture dermal filler products propels the growth of the market.

In addition, in May 2020, the Food & Drug Administration (FDA) announced the approval for Restylane kysse, a new hyaluronic acid (HA) filler specifically designed and indicated to add fullness to lips and help smoothen wrinkles above the mouth. The FDA aims to enhance the availability of dermal filler product and increase the access to a wide range of dermal filler for consumers.

Moreover, rise in development of medical aesthetic industry and improvement in healthcare spending are anticipated to drive the growth of the dermal filler market. For instance, in 2021, McKinsey & Company, conducted a survey to analyze the use of dermal filler among different age group and income population. It was reported that, the population with annual income of more than $100,000 are the active users of dermal filler. In addition, the increase in the number of female population and rise in self-awareness among young population regarding the physical appearance led to the development of innovative technologies in the aesthetic sector, thereby propelling the growth of the market.

Moreover, the increase in the number of licensed medical centers is the key factor that boosts the growth of the dermal filler market analysis. The reason behind the increasing number of medical centers is attributed to surge in number of non-invasive aesthetic procedures such as dermal filler and botox. Furthermore, the rise in prevalence of skin damage and increase in geriatric female population, who are more vulnerable to wrinkle and facial line, propel the growth of the market. In addition, the rise in disposable income and increase in awareness regarding different facial aesthetic treatments among the female population fuel the dermal filler market trends.

The dermal filler market share is segmented on the basis of type, gender, service provider, and region. On the basis of type, the market is divided into hyaluronic acid (HA), calcium hydroxylapatite (CaHA), poly-L-lactic acid, and others. The others segment is further divided into polymethyl-methacrylate microspheres (PMMA) and fat face. The hyaluronic acid segment dominated the market in 2021, and this trend is expected to continue during the dermal filler market forecast period, owing to increase in number of hyaluronic acids-based dermal filler products, advancement in R&D activities in medical aesthetic industry, and rise in prevalence of early aging of the skin.

By gender, it is bifurcated into male and female. The female segment acquired the top position in the market in 2021, and this trend is expected to continue during the forecast period, owing to increase in demand for dermal filler procedures, rapidly growing emphasis on personal aesthetics among females, and rise in number of female populations conducting minimal invasive aesthetic procedure.

As per service provider, the market is classified into specialty & dermatology clinics, hospitals, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The hospitals segment led the market in 2021, and this trend is expected to continue during the forecast period, owing to increase in number of hospitals to conduct dermal filler procedures and rise in expenditure by governments to improve the healthcare industry.

North America accounted for a majority of the global dermal filler market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to a rise in prevalence of early aging of the skin due to external environmental factors, increase in the number of approvals for dermal filler product, the presence of dermal filler industry, and development in technology for dermal filler in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in number of approvals for aesthetic products, the rise in geriatric populations, growth in health care expenditures, and a rise in adoption of dermal filler product.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global dermal filler market. A number of clinics and hospitals were restructured to increase hospital capacities for patients diagnosed with COVID-19. Non-essential surgical procedures were cancelled due to the pandemic. Dermal filler procedures are non-emergency procedures that significantly hampered revenue of aesthetic companies. In addition, sudden, sharp cut in a monthly income of the population is anticipated to have a negative impact on the dermal filler market.

Key Findings of The Study

• By type, the hyaluronic acid segment was the highest contributor to the market in 2021.
• By gender, the male segment was the highest contributor to the market in 2021.
• By service provider, the hospitals segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period