Facial Injectable Market Size, Share, Global Market Research and Industry Forecast Report, 2020-2027 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Facial Injectable Market


The global facial injectable market size was valued at USD 8.88 billion in 2019 and is expected to exhibit a CAGR of 11.8% during the forecast period. Increasing consciousness regarding physical appearance among consumers coupled with growing geriatric population is anticipated to drive the growth. Furthermore, increasing shift from invasive to minimally invasive procedures and advancements in facial rejuvenation is expected to support market growth.

Factors like, rising consciousness about external appearance among young and old individuals and rising awareness regarding the availability of various products and procedures, attributed to increasing globalization and social media influence are projected to further fuel the market growth. Consumers, these days, are well informed about cosmetic products due to awareness created by traditional as well as by social media, thus, positively influencing the consumer purchasing decisions. Personalized products are gaining traction across the globe as consumers demand products that are unique and can enhance their personality.

In addition, growing importance of medical aesthetics coupled with increasing spending on aesthetic procedures is expected to fuel the market growth. For instance, according to statistics reported by the American Society for Aesthetic Plastic Surgery (ASAPS), Americans spent nearly USD 13.5 billion on surgical and nonsurgical aesthetic procedures in 2015 and more than USD 15.0 billion in 2016. Thus, increasing beauty consciousness amongst consumers coupled with increasing spending over aesthetic procedures is anticipated to propel market growth over the forecast period.

Minimally invasive surgeries are rapidly replacing invasive surgeries. For instance, according to the American Society of Plastic Surgeons (ASPS), in U.S, nearly 17.7 million minimally invasive and surgical cosmetic procedures were performed in 2018, out of which nearly 15.9 million procedures were minimally invasive. Thus, increasing adoption of minimally invasive surgeries, coupled with availability of a wide range of such treatment options, is driving the facial injectables market growth.

As per the data published by the CIA World FactBook, about 40.96% of the total German population was aged between 25 to 54 years and around 14.23% of the population was aged between 55 to 65 years in 2016. Similarly, approximately 48.42% of the total population of China was aged between 25 to 54 years in 2016. The elderly population is prone to skin diseases as with age, the skin wrinkles and loses elasticity. Thus, these countries form the key target population for aesthetic surgeries and are expected to push the demand for facial injectables across the world.

On the contrary, adverse effects, such as allergic reactions, nausea, rash, and neck and back pain coupled with legal and regulatory issues and safety concerns of botulinum toxin type A (pose high risk to patient safety) are anticipated to impede market growth in the forthcoming years.

Product Insights of Facial Injectable Market

Based on product, the facial injectable market is broadly segmented into collagen, hyaluronic acid, botulinum toxin type A, calcium hydroxylapatite, and polymer fillers. The hyaluronic acid segment dominated the market in 2019 and is expected to witness lucrative growth over the forecast period. Increasing application of hyaluronic acid in cosmetic industry is expected to support the growth. Hyaluronic acid has become an integral part of cosmetics owing to its strong water retention properties and negligible allergic reactions. Cosmetic-grade hyaluronic acid has a low molecular weight that facilitates deep penetration of the product in the epidermis, helps retain water in the cells, releases antioxidants, and delays the aging process, thus contributing towards market demand.

The botulinum toxin type A segment is expected to register comparatively higher growth during the forecast period. This is can be attributed to the rising application in cosmetics industry and the capability to improve the facial appearance by reducing signs of aging. This product is used for the treatment of frown lines, crows feet lines, and glabellar lines. Moreover, botulinum toxin type A finds therapeutic applications in treating benign essential blepharospasm, strabismus or crossed eyes, Meiges syndrome, Oromandibular Dystonia (OMD), Hemifacial Spasms (HFS), and focal hyperhidrosis.

Polymer fillers are further segmented into polymethylmethacrylate beads and poly-L-lactic acid. The polymer fillers segment is expected to witness substantial growth during the forecast period as it offers advantages such as long lasting results and reduced adverse effects as compared with other products. They are also used to replace depleted facial volume and enhance facial appearance, correction of shallow to deep nasolabial fold contour deficiencies, acne scars, and other wrinkles.

Collagen injectables are intended for the treatment of wrinkles, laugh lines, creases, lip border restoration, crows feet, facial rejuvenation and volume loss, face contouring, and acne scars. The collagen segment is anticipated to exhibit favorable market growth over the forecast period due to the increasing use of collagen in facial injectables to correct facial skin imperfections. Some of the commercially available collagen injectables are CosmoDerm and CosmoPlast (ALLERGAN), Bellafill (Suneva Medical, Inc.), and Ellanse (Sinclair Pharma).

Application Insights of Facial Injectable Market

On the basis of application, the market is categorized into aesthetics and therapeutics. The aesthetics segment is expected to dominate the market during the forecast period owing to increasing use of facial injectables for aesthetics procedures such as treatment of parentheses lines, wrinkles on face, lip lines, lip augmentation, lip border restoration, perioral lines, crows feet lines, frown lines, glabellar lines, filling furrows (deep wrinkles), periorbital wrinkles, superficial lines, acne scars, tear troughs, marionette lines, lipoatrophy of face, nasolabial folds, chin dimpling, and mouth wrinkles.

Other aesthetic applications include facial surgeries including plastic surgery and facelift surgery used to repair, restore, reconstruct or alter skin, and also to reduce facial wrinkles. Facial injectables such as botulinum toxin type A and calcium hydroxylapatite are majorly used during these procedures. On the other hand, the therapeutic segment is also expected to significantly over the forecast period owing to rising applications of facial injectable in blepharospasm, strabismus or crossed eyes, Meiges syndrome, Oromandibular Dystonia (OMD), Hemifacial Spasms (HFS), and focal hyperhidrosis.

Regional Insights of Facial Injectable Market

North America held more than 40.0% market share in 2019, owing to increased spending on aesthetic procedures and easy availability of the products. In addition, presence of a large geriatric population base in U.S. and Canada is likely to fuel the demand for injectables during the forecast period. As per estimates provided by the United States Census Bureau in 2014, the geriatric population in the countru is projected to reach 83.7 million by 2050 from 43.1 million in 2012. In addition, according to the Population Reference Bureau report of 2016, projected that aging population in the region is anticipated to increase to 98.0 million by 2060 from 46.0 million in 2016.

Europe is also expected to hold substantial market share over the forecast period owing to increasing consumer disposable income coupled with the presence of highly advanced healthcare infrastructure and manufacturers. This is expected to assist the market growth over the forecast period. Local presence of major players such as ALLERGAN, Ipsen, Sinclair Pharma, and Galderma S.A. are expected to assist in the growth of this vertical.

Several emerging economies have promising economic and demographic landscape and rising aesthetic consciousness among consumers in the Asian countries such as India, China, Japan, and Australia are expected to propel the market at a comparatively higher CAGR over the forecast period. In addition, increasing adoption of combination treatments and rising medical tourism in Brazil are expected to support growth of the Latin America market during the forecast period.

The presence of key market players, such as Bloomage BioTechnology Corporation Limited is also helping growth of the market in China. Moreover, increasing medical and cosmetic tourism coupled with low procedure costs in South Korea is contributing to the regional revenue growth.
Facial Injectable Market Share Outlook

Some of the major players include ALLERGAN; Ipsen; Merz Pharma; Suneva Medical, Inc.; Medytox, Inc.; Sinclair Pharma; Bloomage BioTechnology Corporation Limited; Anika Therapeutics, Inc.; Prollenium Medical Technologies Inc.; and Galderma S.A. These players focus on growth strategies, such as new product launches, partnerships, mergers and acquisitions, and regional expansions. For instance, in January 2017, ALLERGAN launched Juvederm Volite, a hyaluronic acid injectable gel used to smoothen face lines, neck, decolletage, and hands in adults.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Facial Injectable Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the facial injectable market report on the basis of product, application, and region:

Product Outlook (Revenue, USD Million, 2019 - 2030)

  
Collagen
  
Hyaluronic Acid (HA)
  
Botulinum Toxin Type A
  
Calcium Hydroxylapatite (CaHA)
  
Polymer Fillers

Polymethylmethacrylate Beads (PMMA Microspheres)

  
Poly-L-Lactic Acid (PLLA)

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Aesthetics
  
Therapeutics