Improved Wrinkle Correction Filler Capabilities Accelerate the Growth of the Dermal Filler Industry During the Forecast 2023-2028

The Dermal Fillers Market is estimated to reach $7.3 billion by 2028, growing at a CAGR of 7.5% over the forecast period 2023-2028. According to the World Health Organization, 1 in 6 individuals worldwide is estimated to be 60 or older by the year 2030. From 1 billion people in 2020 to 1.4 billion people at this point, more people would be 60 years of age or older. The number of people in the world who are 60 years of age or older would double by 2050 (to 2.1 billion). By 2050, there would be 426 million people in the age bracket of 80 or above. The elderly population is growing and skin aging problems are becoming increasingly common. Wrinkle correction fillers have become more common as people look younger after the treatment. Wrinkle Correction Fillers reduce the appearance of facial wrinkles and abnormalities caused by acne or sun damage. 

Dermal Fillers Market Drivers

Infrastructure Improvement would Increase Treatment Accessibility and Boost Product Demand for Dermal Fillers:

The number of clinics, medical spas and centers for rejuvenation has significantly increased in recent years, both in industrialized and developing countries. As a result, the industry growth would be fueled by the quick uptake of the numerous non-invasive treatments provided by these facilities, because of advantages including cost-effectiveness and shorter treatment times. Additionally, a growing population of skilled professionals like dermatologists and plastic surgeons would further support business growth. According to the U.S. Bureau of Labor Statistics, over 9,230 dermatologists were working in 2021. The development of the dermal filler market would be supported throughout the forecast period of 2023–2028 by an expanding network of healthcare facilities offering cutting-edge aesthetic treatments and improved infrastructure.

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Rise of Botox and Filler-based Treatments:

The most popular cosmetic operations in 2021 included facial rejuvenation surgery. This tendency would continue in 2022. According to Elite Facial Plastic Surgery, recent estimates in 2021 suggest that between 4-5 million people receive Botox annually, which indicates that the operation is becoming more and more popular. The majority of cosmetic procedures require time (a few weeks to a few months) before observable results might be noticed. A major change to the face and body is believed to have occurred from ingesting Botox. As more people choose to use these procedures, they become more universally recognized. Owing to their use, they might even become a more popular non-invasive aesthetic therapy in India. They are currently in second place, just behind laser hair removal. Botox and fillers might surpass all other aesthetic procedures in terms of popularity during the forecast period 2023-2028. The most common Botox and filler procedures are minimally invasive facelifts, brow lifts, wrinkle correction, lip enhancement and cheek augmentation.

R&D Investment:

In January 2022, Nanovetores Group was acquired by Givaudan from the early-stage, innovative Brazilian investment fund The Criatec Fund for a 48 percent ownership stake.

Major Players in this Market:

The major companies in the Dermal Fillers Market include Allergan, Suneva Medical, Revance Therapeutics, Inc., Galderma Laboratories, Sinclair Pharma, Teoxane, BioPlus Co. Ltd., Givaudan, DSM, Restylane and Others.