Albany, NY -- (SBWire) -- 11/06/2018 --The North America facial injectables market features a largely monopolistic landscape with only one company holding dominating share. Transparency Market Research (TMR) notes that Allergan Plc. accounts for a lion's share of 62.0% in the market. The dominant stronghold the company has in the market derives its strength from its robust brand value of its facial injectable offering such as Juvederm and Botox (Botulinum toxin). The Botox is anticipated to witness leading demand presently and is likely to hold its sway in the regional market through 2024.
Other prominent players operating in this regional market include Bloomage BioTechnology Corporation Limited, Ipsen Group, Prollenium Medical Technologies Inc., and Merz Pharma & Co. KGaA, and Galderma S.A.
The North America facial injectables market stood at US$2.1 billion in 2015 and is anticipated to be worth US$5.8 billion by 2024 end. The regional market is projected to rise at a promising CAGR of 12.0% during the forecast years of 2016 and 2024.
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The various products of facial injectables can be categorized into hyaluronic acid, particle and polymer fillers, botulinum toxin, and collagen. Of these, the botulinum toxin led the pack with the segment accounting for the major share in the market in 2015. The extensive demand is attributed to the marked efficacy of Botox mainly in skin rejuvenation and in reducing fine lines and wrinkles. The segment is prognosticated to rise at a promising CAGR of 12.7% from 2016 to 2024.
Based on country, the U.S. leads the regional market and is expected to continue to hold its sway through 2024. The extensive demand for botulinum toxins and dermal fillers, coupled with the rising uptake of minimally invasive surgeries, accounts for the dominance of the U.S. market.
north america facial injectables market Growth to ride on back of Burgeoning Demand for Minimally Invasive Surgeries for Skin Rejuvenation
The rising number of consumers focusing on cosmetics products for enhancing their appearance and reverse aging is a key underpinning for the growth of the North America facial injectables market. The vast rise in disposal incomes of population in the region is a key factor driving the market. The demand for facial injectable is getting robust fillip driven by the growing popularity of synthetic products made with polymers and particles used in cosmetology.
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The market is expected to garner huge gains from the rising preference of minimally invasive surgeries for eliminating wrinkles and sagging in facial skins. Across the region, the prominent demand for skin rejuvenation treatments that retains effect for a prolonged period is also catalyzing the growth of the market. The surging popularity of long-lasting facial fillers together with their rising affordability will accentuate the regional market over the assessment period.
Risk of Complications might offset Gains derived from Facial Injectables in Cosmetology
Changing lifestyle and the efficacy of facial injectables in treating dermatological conditions are notable trend boosting the market. The regional market will earn revenues from the uptake of dermal fillers in creating smoother and fuller appearance of face. Expanding understanding of beauty and aesthetics will also fuel the demand for injectable filler.
However, despite the potential benefits of facial injectable in skin rejuvenation, this can be offset by a variety of common side-effects such as allergic reactions and hypersensitivities. In addition, the of various risk medical complications such as swelling and bruising, edema, and bleeding, is also likely to dampen the demand. Moreover, lack of standard reimbursement policies for treatments with facial injectables is also a crucial factor crippling the growth of the market.
Nevertheless, significant advancements in advances in cosmetic and medical dermatology bodes well for the regional market. Furthermore, putting strategies in place to reduce the risk of complications will also catalyze the growth of the North America facial injectables market.
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Facial Injectables Market Is Projected to Be Worth US $5.8 Bn by 2024