Market Overview:
The growing concern of people about their appearance is gradually rising, both in the developed and the developing countries, which leads to increase in the number of cosmetic surgeries performed annually. Facial aesthetics such as Botox, injections, face fillers, and anti-wrinkles are aesthetic treatments used to enhance the face by softening the expression lines and defining the contour lines, which are not overtly noticeable.
Market Size Growth Rate:
According to the research report published by the DataM Intelligence, the North America Facial Aesthetics market size was valued at USD XX billion in 2021, it is projected to reach at USD XX billion by 2029, with growth at a CAGR of XX% over the forecast period 2022-2029.
Rise in the importance of aesthetic appearance, increase in advanced health care infrastructure facilities, and availability of many experienced dermatologists and cosmetic surgeons to perform the facial aesthetics is deriving the growth in the North America. The U.S. has a growing demand for botulinum toxins and dermal fillers, owing to improving lifestyles and growing preference for minimally invasive surgeries. The increasing interest toward their aesthetic appearance among consumers is driving the growth of the market. Further, the rapidly aging population in this region coupled with the presence of advanced technologies and skilled cosmetic surgeons drive them. For instance, according to the American Society of Plastic Surgeons, around 2.6 million procedures have been performed in the United States using soft tissue fillers in 2016, which was 2% higher than in 2015.
Market Drivers:
The rising R&D initiatives in the aesthetics industry and the recent regulatory approvals are driving the growth of the market. Also, the high proportion of the geriatric population and the rising patterns of early aging due to environmental factors such as pollution are contributing to the North America facial aesthetics market. The popularity of dermal fillers has grown rapidly in recent years as they rejuvenate and enhance the aesthetic improvements previously only achievable with surgery, but at lower cost and with limited-to-no recovery time.
Market Restraints:
However, there are several side-effects caused by facial aesthetics which limit the adoption of these product among consumers. For instance, botulinum toxin can cause some unwanted effects, including dry eye, an upset stomach, numbness, mild pain, swelling or bruising around the injection site, temporary eyelid drooping, temporary unwanted weakness or paralysis in nearby muscles, urinary problems after treatment for urinary incontinence, a worsening of neuromuscular disorders, spatial disorientation or double vision after treatment for strabismus, corneal ulceration after treatment for blepharitis, cardiovascular events, such as arrhythmia and myocardial infarction, among others.
Market Opportunities
Rapid advancements in the field of cosmetology and dermatology have benefited the urban population that are mainly focusing on skin aesthetics and beauty. Thus, drastic rise in preference for injectable dermal fillers will offer attractive opportunity for market expansion. According to the Aesthetic Society of America, more than 1.6 billion dollars were spent on injectable in 2019. In a recent report by the American Society of Plastic Surgeons they reported that 14.2 million non-minimally invasive facial aesthetics treatments carried out in the USA in 2014. Botox was a clear favorite with over 6.3 million procedures. This was followed by Dermal Fillers with 2.2 million procedures in total.
COVID-19 Impact Analysis
The COVID-19 pandemic has significantly affected the medical aesthetics industry. The beauty and luxury sector is facing challenges in its manufacturing and supply chain, such as delivering products to end users in a timely manner as well as attending to an uneven demand for products and services. The facial aesthetics market is expected to experience a period of short-term negative growth, owing to decline in the product demand from major end users, limited operations in most of the industries, temporary closure of major end-user facilities (including beauty centers and spas), disrupted supply chain, and challenges in terms of providing essential/post-sales services due to the lockdown.
Recent Developments in the Industry:
- In January 2020, Revance Therapeutics, a biotechnology company pioneering new innovations in neuromodulators for aesthetic and therapeutic indications, signed a U.S. distribution agreement with TEOXANE SA , making Revance the exclusive commercialization partner of the
Swiss company’s modern and innovative Resilient Hyaluronic Acid (RHA) technology.
- In April 2019, Merz Pharma launched a new dermal filler called the Belotero Revive dermal filler, a combination of hyaluronic acid and glycerol
- In April 2019, ALLERGAN launched the Juvéderm VOLUX, a dermal filler aimed at the refinement of the chin and jawline
- In November 2018, Galderma Laboratories, L.P. received an FDA approval for Restylane Lyft', a hyaluronic acid dermal filler used for cheek augmentation and age-related face contour deficiencies.
Market Segmentation:
As per the research analysis, the facial aesthetics market is segmented by product into dermal fillers (Hyaluronic Acid, PMMA , Calcium Hydroxylapatite, Poly-L-lactic Acid, Collagen), botulinum toxin (Botox), chemical peel, microdermabrasion. Further, on the basis of application, the market is divided into facial line correction treatment, scar treatment, lip treatments, restoration of volume/ fullness, wrinkle correction, and others. The end user segment is segmented into hospitals, specialty & dermatology clinics, and others.
- On the basis of product, the dermal fillers segment is estimated to grow at highest CAGR of 12% during the forecast period (2022-2029) . The dermal fillers segment accounted for the largest market share of about 44% of the North America facial aesthetics market in 2020. Expansion of the market can be attributed to an increase in the number of dermal filler procedures being performed, rise in the trend of anti-aging, significant private equity investments, strategic acquisitions by the market players, increase in geriatric population, and surge in preference for lip enhancement procedures.
- Based on application, wrinkle correction segment accounted for the largest market share of around 27.4% in 2020 and expected to dominate over the forecast period (2022-2029). Wrinkle correction treatment is a skin rejuvenation that has already gained recognition. Administered through the facial skin through a virtually painless injection, it tells the muscles to relax and the wrinkles to soften. Areas around eyes and mouth experience significantly reduced wrinkles. Dermal fillers injected to the under layer of facial skin. The treatment reduces aging lines and wrinkles from different facial areas and adds volume to the otherwise sunken and weak skin. This factor will drive the growth of the segment in the forecast period.
Geographical Classification:
The North America Facial Aesthetics market is segmented into major countries including US, Canada, and Mexico.
US Facial Aesthetics Market:
In the North America region, the United states holds the dominant share of about 72% in 2020, followed by Canada. The U.S. has a growing demand for botulinum toxins and dermal fillers, owing to improving lifestyles and growing preference for minimally invasive surgeries. The increasing interest toward their aesthetic appearance among consumers is driving the growth of the market. Aesthetic fillers that contain hyaluronic acid, collagen, and polymers and particles are used to give the skin or feature a cosmetic boost. There is increased competition in the United States, with many players launching several products. For instance, in July 2021, Allergan received the US FDA approval of a label expansion of BOTOX to include eight new muscles for the treatment of upper limb spasticity in adults.
Competitive Analysis:
Allergan is one of the major player occupying the majority of market share in 2020, as the company has a number of technologically advanced and specialized products as per varied indications due to its JUVÉDERM family of dermal fillers. This range has a number of dermal fillers according to various indications such as the correction of wrinkles and enhancement of the lips. The key players are adopting several strategies such as product launches, partnership, merger and acquisition, collaborations, finding a new market in their core competency in order to stay competitive in the market. For instance, in August 2020, Revance launched the RHA (resilient hyaluronic acid) collection of fillers. The resilient hyaluronic acid fillers are designed to adapt to facial dynamics and represent the first step in the line of products for aesthetic practices.
Major Companies:
Some of the major players operating in the North America facial aesthetics market are: Allergan PLC, Galderma Laboratories, L.P., Merz Pharmaceuticals GmbH, Teoxane SA, among others.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query with regards to the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.
The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the North America Facial Aesthetics market segmentation by product, application, and country highlighting the key commercial assets and players.
- By Product: Dermal Fillers (Hyaluronic Acid, PMMA , Calcium Hydroxylapatite, Poly-L-lactic Acid, Collagen), Botulinum Toxin (Botox), Chemical Peel, Microdermabrasion
- By Application: Facial Line Correction Treatment, Scar Treatment, Lip Treatments, Restoration of Volume/ Fullness, Wrinkle Correction, Others.
- By End User: Hospitals, Specialty & Dermatology Clinics, Others
- By Country: US, Canada, Mexico
- Identify commercial opportunities in the North America Facial Aesthetics market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as, porter’s five forces, regulations in each country, supply chain, market trends, and pricing analysis.
- Excel data sheet with thousands of data points of North America Facial Aesthetics market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
About Us:
DataM Intelligence 4Market Research is a market intelligence platform which gives access to syndicated, customized reports and consulting to its clients at one place. As a firm with rich experience in research and consulting across multiple domains we are one stop solution that will cater to the needs of clients in key business areas. DataM Intelligence has an online platform whose coverage includes industries such as chemicals and materials, agriculture, health care services, animal feed and food & beverages among others. Our platform has Insights on markets that uncover latest market research data that’s distinct from the competition. With coverage across 10 major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy centric framework and value-added services will let individuals and corporates with ease of access and custom personalization to research and markets.