Facial Injectables Market - Growth, Trends, and Forecasts (2023-2028)

The facial injectables market is expected to register a CAGR of 5.8% over the forecast period.

The outbreak of the pandemic impacted the facial injectables market adversaly. For instance, according to the July 2022 NCBI research article, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed in 2020. In addition, a large number of cases of COVID-19 across the globe had a slight negative short-term impact on surgical rates for cosmetic procedures in the initial outbreak phase. However, owing to the resumption of elective services and cosmetic procedures around the world in 2021 and 2022, the market started to gain traction and is expected to continue the upward trend over the forecast period.

The rising aesthetic consciousness and the number of cosmetic procedures, the introduction of cost-effective facial injectables, and the aging population are some of the major factors propelling the market’s growth. The cosmetics industry has witnessed a boom over the past decade. In particular, there has been an increase in the total number of non-surgical procedures, such as injections of wrinkle relaxers and dermal fillers, due to the surge in aesthetic appeal and availability of highly advanced aesthetic procedures. This trend is primarily due to the advantages of technology, such as low recovery times, a lower risk of infection, no blood loss, and an overall reduction in procedural costs. For instance, according to the 2021 International Society of Aesthetic Plastic Surgery (ISAPS) report, more than 10,129,528 cosmetic surgical procedures were performed in 2021. The top non-surgical procedures in 2021 include calcium hydroxylapatite (222,785), poly-L-lactic acid (121,087), botulinum toxin, and hyaluronic acid. Therefore, such a high number of facial injectable procedures is anticipated to spur market growth over the forecast period.

In addition, there is a consistent rise in the geriatric population, which helps boost the market's growth. For instance, according to the 2021 WHO report, by 2030, 1 out of every 6 people across the globe will be 60 years of age or older. The number of people aged 60 and up is expected to rise from 1 billion in 2020 to 1.4 billion by 2050. By 2050, the global population of people aged 60 and above will reach 2.1 billion. Between 2020 and 2050, the number of people aged 80 and above is expected to triple, reaching 426.0 million. Since the geriatric population is the major target group for cosmetic procedures, increasing the geriatric population is likely to boost the market's growth over the forecast period.

The market players are adopting various strategies, such as product launches, developments, collaborations, partnerships, acquisitions, and expansions, to increase their market share. For instance, in September 2021, Aesthetics Innovators launched two new injectables into the aesthetics sphere: MaiLi, a hyaluronic acid (HA) dermal filler that uses less product than traditional fillers, and Lanluma, an industry-first collagen-stimulating filler for the body. As a result, such innovations are expected to create new opportunities for the market, propelling market growth.

However, the side effects of available products and the lack of reimbursement policies supporting cosmetic procedures may impede the market's growth over the forecast period.

Facial Injectables Market Trends

Hyaluronic Acid Segment is Expected to Hold Significant Share Over the Forecast Period

The hyaluronic acid sub-segment is anticipated to dominate the dermal fillers segment over the coming years. Some of the factors responsible for hyaluronic acid segment growth include its ability to store moisture in the skin, thus making the skin look healthier. This moisture-binding characteristic helps enhance and maintain the vital moisture responsible for the plumpness of the facial skin. Hyaluronic acid has significant benefits as it increases hydration, improves elasticity, and reverses free radical damage while protecting from UV damage. Thus, the advantages of hyaluronic acid are likely to boost the segment’s growth over the forecast period.

The increasing use of hyaluronic acid dermal fillers is one of the major drivers for the segment. For instance, according to a June 2022 NCBI research study, due to the simplicity of administration of hyaluronic acid, the rapid onset of effect, and short patient recovery times, hyaluronic acid (HA) dermal fillers are one of the most popular nonsurgical techniques in aesthetic medicine. Similarly, according to the December 2021 International Society of Aesthetic Plastic Surgery report, hyaluronic acid was listed among the top 5 non-surgical aesthetic procedures in 2021. It was also reported that more than 4,053,016 hyaluronic acid procedures were performed in 2021. Thus, such a high number of procedures across the globe are responsible for the dominance of the segment.

Moreover, the market players are adopting various strategies, such as product launches, developments, collaborations, partnerships, acquisitions, and expansions, to increase their market share. For instance, in August 2022, a TGA-approved bio remodeling injectable was launched in Australia, which is made up of stabilized hybrid cooperative complexes (HCC) of high and low molecular weight ultra-pure hyaluronic acid in high concentration. The injectable works by slowly releasing hyaluronic acid into the skin to stimulate the production of collagen, elastin, and adipose (fat) cells.

So, because of the things listed above, the studied segment is likely to grow a lot over the next few years.

North America is Expected to Witness Considerable Share Over the Forecast Period

North America is expected to dominate the overall facial injectables market, over the forecast period. The growth is due to factors such as higher awareness about aesthetic surgical procedures, technological advancements in cosmetic procedures, the presence of key market players, the increasing geriatric population, and the growing demand for non-invasive aesthetic procedures. For instance, as per the Statistics Canada 2021 census, there were around 7,021,430 people aged 65 years or above, out of which 3,224,680 were males and 3,796,750 were females. The demand for aesthetic fillers is expected to increase due to increased attention to geriatric aesthetics among this age group, thereby propelling market growth in the North American region.

Key product launches, high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players, and increasing demand for non-surgical aesthetic procedures in the United States are some of the factors driving the growth of the facial injectables market in the country. For instance, in February 2022, Allergan Aesthetics, an Abbvie company, received U.S. FDA approval for JUVÉDERM VOLBELLA XC for the improvement of infraorbital hollows in adults over the age of 21.

Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.

Facial Injectables Market Competitor Analysis

The facial injectables market is moderately competitive. The companies are also focusing on expanding their presence in emerging markets and maintaining strong distributor relationships. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known including AbbVie Inc. (Allergan Plc), Ipsen SA, Medytox Inc., Merz Pharma, and Sinclair Pharma Plc, among others.

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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