This market research report presents a detailed segmentation of the global facial aesthetics market by product type (Botox, dermal fillers, and others) and by geography (APAC, Europe, North America, and ROW). The leading vendors in this market are Allergan, Galderma, Ipsen, and Merz Pharma.
Technavio’s market research analysts estimate the global facial aesthetics market to grow at a CAGR of almost 10% between 2016 and 2020. The rising beauty consciousness among consumers and a shift in preference from invasive to minimally or non-invasive procedures are driving the demand for facial aesthetic procedures. Botox and dermal fillers are the most common non-invasive rejuvenation procedures in the market. The Americas lead the global market for facial aesthetics, accounting for more than 49% of the overall market share. Much of this region’s growth stems from factors like the increasing awareness about aesthetic procedures, rising demand for the use of minimally invasive techniques, and the increase in the number of older people.
The new market research report from Technavio provides a breakdown and analysis of the facial aesthetics segments by technology.
“The facial aesthetics market is undergoing various technological advancements in terms of products and the materials used. Therefore, vendors have come up with advanced collagen-based materials such as bovine collagen and bioengineered human collagen, which reduces the risk of bruising. They are also launching products that can be used on the face, hands, and other parts of the body. For instance, Radiesse has recently received FDA approval for hand augmentation to correct volume loss in the dorsum of the hands. The increase in beauty consciousness among consumers has resulted in the surged adoption of facial aesthetic products, which in turn will accelerate the growth of this market during the forecast period,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research
The Botox segment dominates the facial aesthetics market and accounts for approximately 52% of the total market share. Being the most popular cosmetic treatment, it is gaining acceptance among the middle-class populace because of a shift in cultural thinking, high spending capacity, and increased brand popularity. With an increasing number of women considering minimally invasive procedures as a viable option, the demand for Botox will increase during the forecast period.
The key vendors in the global facial aesthetics market are Allergan, Galderma, Ipsen, and Merz Pharma. The market is characterized by the presence of diverse international and regional vendors. The fast-developing APAC countries like India, Vietnam, Indonesia, and Malaysia offer lucrative market opportunities to the market players. Competition in this market is expected to intensify during the forecast period with an increase in product innovations and M&A activities. During the forecast period, the international players are expected to grow inorganically by acquiring regional or local players.
A more detailed analysis is available in the Technavio report, Global Facial Aesthetics Market 2016-2020.
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