Valley Cottage, NY, December 19, 2017 (Newswire.com) - Multiple applications of dermal fillers and increasing number of aesthetic surgeons are the main factors responsible for fuelling the growth of the global dermal fillers market
Apart from functioning as an anti-aging factor, dermal fillers are also helpful in the areas of treatments such as acne scars, enhancement of the dorsal area of hand, and for HIV induced lipoatrophy of facial area. Besides, the use of dermal fillers for the treatment of paralysed vocal cords is also under consideration for approval from the FDA. The demand for application specific product modules is driving the growth of the global dermal fillers market.
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Another important factor that is boosting the growth of the global dermal fillers market is a sudden increase in the number of plastic surgeons and their network. This increasing network is boosting the demand for aesthetic procedures, which in turn is fuelling the development of the global market. The FDA has also given its approval for the use of dermal fillers in the area of dentistry. This is particularly beneficial for dentists as they come across many such cases that require facial changeover, which is easily possible with the help of dermal filler procedures. The other drivers associated with dermal filler procedure include lesser procedure time, minimum risk of complexity, and requirement of minimum infrastructure.
Increasing focus on development of new products and market expansion strategies by direct presence or through affiliates as a key development strategy by companies is expected to increase the demand for dermal fillers during the forecast period. Favourable support from the government in terms of approval for new entities and new application areas as well as the commercialization of novel solutions are factors boosting collaborations and partnership agreements between manufacturers. Various companies are also developing application specific dermal fillers and expanding their product range such as, fillers specific for lip augmentation, specific dermal fillers for the dorsal area of hand and fillers to increase volume. All these factors are creating a robust development in the global market for dermal fillers.
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The application of dermal fillers in dentistry is expected to make an impact on the global market over the forecast period
With a Compound Annual Growth Rate of 3.4% during the period of assessment, the dentistry application segment is projected to grow significantly in terms of revenue in the years to come. The key reason behind this growth is an increasing usage of the dermal filler procedure in the area of dentistry. The aesthetic restoration segment dominated the dermal fillers market in terms of revenue in 2016 and this trend is projected to continue throughout the forecast period. Reconstructive surgery is expected to be the second most lucrative application segment, given the high rate of growth of orthopedic procedures across the globe.
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Global Dermal Fillers Market: Overview
Our forecasts indicate that the global dermal fillers market is expected to grow from an estimated value of more than US$ 3,600 Mn in 2017 to just over US$ 4,960 Mn by the end of the forecast period in 2027. This represents a CAGR of 3.2% in terms of revenue over the forecast period of 2017 to 2027. The global market for dermal fillers represents absolute $ opportunity of more than US$ 115 Mn in 2018 over 2017 and an incremental opportunity of more than US$ 1,300 Mn between 2017 and 2027.
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Source: Future Market Insights