The process is also cost-effective due to which the market stands to benefit significantly from easy percolation across strata. The rising number of clinics to support aesthetic procedures are also expected to ensure growth for the global market. It is expecting substantial backing from changes in the consumer psyche. People are now more prone to get such treatments after getting inspired by the entertainment industry and social media. In addition, the rising disposable income is playing a proper role in triggering intake. However, side-effects of the procedure and the available black market are expected to hold back the global market growth.
The global dermal fillers market is expected to gain substantial traction from the surging demand for non-invasive procedures. People afraid to go under the knife are opting for this method to have their desired look in a safer way. The global market for dermal fillers is expected to meet standards set by actors and reach a valuation of USD 6,899.16 Mn with a CAGR of 13.2% during the forecast period of 2019 to 2025.
Allergan (Ireland), Galderma Laboratories, LP (Switzerland), Dr. Korman Laboratories (Israel), Merz Pharma (Germany), Teoxane Laboratories (Switzerland), Sinclair Pharma (UK), SciVision Biotech Inc. (Taiwan), Suneva Medical (US), Medytox (South Korea), are some of the prominent companies impacting the global market with their robust and innovative strategies.
The global market is expected to gain much from North America as the regional demand is high due to high investment capacity, presence of major companies, and others. These companies are constantly spending on research and development to inspire innovations. The US and Canada would bolster regional market growth. In Europe, the market would benefit from rising government support for research-related projects. In Asia Pacific, increasing disposable income is boosting the regional market outcome. India, China, Japan, South Korea, and others are expected to make substantial changes.
The global market for dermal fillers is witnessing a slump due to the ongoing COVID-19 pandemic. This is happening due to the lack of focus on non-essential medical services. Governments have limited access to non-essential medical practices to reduce the chances of spreading the virus. Also, people are avoiding social gatherings to keep themselves safe that is why they have postponed most of their visits to their doctors. On the other hand, pharmaceutical companies are putting directing their strength towards discovering components that find some kind of a treatment owing to which the market would find some lacks in strategic moves. These will adversely impact the market but it will be temporary. With the lifting of bans, the market will regain its momentum.