Facial Aesthetics Market Size, Competitive Landscape and Market Forecast - 2029

Global Facial Aesthetics Market is segmented By Product (Dermal Fillers, Botulinum Toxin, Chemical Peel, Microdermabrasion), By Application (Facial Line Correction Treatment, Scar Treatment, Lip Treatments, Restoration of Volume/ Fullness, Others), By End-User (Hospitals, Specialty & Dermatology Clinics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Facial Aesthetics Market Size Growth Rate Insights 2022

Facial Aesthetics Market is expected to grow at a high CAGR of 21.0% during the forecasting period (2022-2029). 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 global 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 a lower cost and with limited-to-no recovery time.

The North American region is dominating the global market from 2022 to 2029. The U.S. controls the North American facial aesthetics market owing to the increasing demand for dermal fillers and botulinum toxins, due to refining lifestyles and rising preference for minimally invasive operations. Asia-Pacific is predicted to produce the uppermost CAGR in the forecast period of 2022-2029, owing to the occurrence of a huge patient pool using botox and facial dermal fillers in the Asia Pacific.

Facial Aesthetics Market Scope

Metrics	Details
Market CAGR	21%
Segments Covered	By Product, By Application, By End User, and By Region
Report Insights Covered	Company Financials, Company Outlook, Revenue Produced, Market Perspective, Investment In R&D, New Market Creativities, Global Attendance, Company Strengths, And Weaknesses, Product Width And Breadth, Application Domination, Competitive Landscape Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region	Asia Pacific
Largest Market Share	North America

Market Dynamics

The growing concern of people about their appearance is gradually increasing, both in the developed and the developing countries, which leads to an increase in the number of cosmetic surgeries performed annually. According to the annual plastic surgery procedural statistics, there were 17.5 million surgical and minimally invasive cosmetic procedures performed in the US in 2017, with a 2% increase in the number of procedures over 2016. The rate of the growing acceptance of tissue fillers is high in developed countries, however, in developing countries, people are also getting more concerned with their appearance, especially with the increasing standard of living. Wrinkles are the first visible signs of aging. A face marked by furrows appears tired and neglected. Wrinkles are like small fractures of the skin, and the aim of a filler is to fill them.

Dermal fillers, also known as injectable implants, soft tissue fillers, or wrinkle fillers, are medical device implants approved by the FDA, in order to help create a smoother and/or fuller appearance in the face, including nasolabial folds, cheeks, and lips and to increase the volume of the back of the hand. The FDA has approved some dermal fillers for the restoration and/or correction of the signs of facial fat loss (lipoatrophy) in people with human immunodeficiency virus (HIV). Hence, the growing acceptance of dermal fillers is driving the growth of the facial aesthetics market globally.

Market Segmentation

The demand for dermal fillers is growing as dermal fillers help to diminish facial lines and restore volume and fullness in the face. The rising aesthetic surgeries are also driving the dermal fillers market. For instance, according to the American Society of Plastic Surgeons (ASPS), almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the United States in 2018. Cosmetic surgical procedures have been on the rise in the U.S. over the past 5 years.

By type, the Hyaluronic acid accounted for the largest market share in global dermal fillers in 2018, owing to its status as the gold standard in dermal fillers and new product launches for the hyaluronic acid. The manufacturers are continuously manufacturing new products leading to the growth of the market globally. For instance, in April 2019, Merz, a global leader in medical aesthetics, has launched the Belotero ® Revive, a dermal filler product containing a unique combination of hyaluronic acid (HA) and glycerol, designed to improve hydration, elasticity, and firmness of the skin and to address the appearance of fine lines.

The newest addition to the Belotero ® dermal filler range, Belotero ® Revive was designed to meet the unique needs of today’s aesthetic patients. Modern consumers are especially focused on skin quality and on minimizing early signs of aging, and they value skin care and aesthetic solutions that deliver natural-looking results – the so-called “no-filter” look.

Geographical Share

North America is dominating the global facial aesthetics market with the United States accounting for the major contributor to the market. The U.S. has a growing demand for botulinum toxins and dermal fillers, owing to improving lifestyles and a growing preference for minimally invasive surgeries. The increasing interest in their aesthetic appearance among consumers is driving the growth of the market. Aesthetic fillers that contain hyaluronic acid, collagen, polymers, and particles are used to give the skin or feature a cosmetic boost.

The rapidly aging population in this region coupled with the presence of advanced technologies and skilled cosmetic surgeons drive them. 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. The increase was attributed to the safe and effective minimally-invasive procedures and their lesser side effects. As of 2016, about 30 aesthetic fillers are approved and possess HA licenses for sale in Canada.

Competitive Landscape

Some of the major players operating in the global facial aesthetics market are Allergan PLC, Galderma Laboratories, L.P., Merz Pharmaceuticals GmbH, Teoxane SA, among others. Allergan is one of the major players accounting for the highest market share in 2018, 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, partnerships, mergers and acquisitions, collaborations, and finding a new market in their core competency in order to stay competitive in the market.

Recent Developments:

1. On January 10th, 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.
2. In April 2019, Merz Pharma launched a new dermal filler called the Belotero Revive dermal filler, a combination of hyaluronic acid and glycerol
3. In April 2019, ALLERGAN launched the Juvéderm VOLUX, a dermal filler aimed at the refinement of the chin and jawline
4. 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.
5. In December 2016, Galderma laboratories announced the FDA approval of Restylane Refyne and Restylane Defyne dermal fillers for the treatment of laugh lines.