The global facial injectables market is highly consolidated, with the top four players accounting for over 80% of the market share. Prominent players in the market are: Bloomage BioTechnology Corporation Limited, Allergan, Inc., Galderma S.A., Merz Pharma GmbH & Co. KGaA, and Ipsen Group.
A new Transparency Market Research (TMR) report finds that the global facial injectables market is a highly competitive one where bigger players are constantly looking to acquire smaller ones to retain their market share and outgrow rivals. Companies are aggressively strategizing to entice end users – mostly hospitals and medical institutes – to buy their products. For example, they are offering volume purchase discounts to retain or draw customers. In the highly saturated market, growth opportunities are limited owing to little scope of product differentiation and cutting down on manufacturing costs. Market regulation and a strong presence of dominant players, however, means that new entrants find it difficult to break into the market.
US-based Allergan, Inc. is the leader in the global facial injectables market, followed by Valeant Pharmaceuticals, Merz Pharma GmbH & Co. KGaA, and Galderma. The market was worth US$3,279.4 mn in 2013 and is poised to reach a value of US$9,435.0 mn by 2020, registering an impressive CAGR of 14.6% from 2014 to 2020.
Hyaluronic Acid Commands Key Share of Market Product-wise
The market for facial injectables has been segmented on the basis of product type and geography by research analysts. Among the products, hyaluronic acid had the lion’s share of the market – 55.1% of the total revenue – in 2013. This was triggered by a strong demand for the product on account of its being a minimally invasive surgical procedure. Region-wise, the report again divides the market into Europe, North America, Asia Pacific and the Rest of the World (RoW). North America, which includes the U.S. and Canada, is the prime market for facial injectables due to existence of large geriatric population. It had over 40% of the market share in 2013, followed by Europe.
Longer Lasting Effects of Minimally Invasive Procedures Resulting in More Takers
The burgeoning market for facial injectables can be attributed to a number of factors. With gigantic advances in technology and research and development, better products that prolong effects of treatments, have flooded the market. This has fueled demand for the products along with a growing geriatric population’s preference for minimally invasive procedures. “The American Society of Plastic Surgeons estimated that in 2011, there were over 12.2 million minimally invasive aesthetic procedures performed in the U.S., a 6% increase over 2010 and a 123% increase over 2000. Further, in 2013, article released by American Society of Plastic Surgeons states that cosmetic minimally invasive surgeries were increased by 6% in 2102 and more than 13 million procedures were performed in the U.S.,” mentions the author of the report.
Side Effects of Facial Injectables Deterring People
Side effects of facial injectables such as allergic reactions, bruising, bleeding and swelling are deterring a lot of potential takers. “Facial injectable products such as hyaluronic acid, collagen and botulinum toxin are obtained from animal tissue extraction, bacterial production or by in-vitro production. Involvement of living organism and related enzymes and chemicals in the preparation of hyaluronic acid and botulinum toxin results in allergic reaction in most of the cases,” says the author of the report.
Going forward, the market holds out a lot of promise. “Opportunity lies in product innovation for innovative dosage form development with enhanced convenience. Further, manufacturing process development to reduce the manufacturing cost without compromising on quality is likely to result in cost reduction of final products and thereby increased uptake. Thus, introduction of advanced dosage form and development of cost effective process have an opportunity in the overall facial injectables market,” states the author of the report.
The information presented in this review is based on a Transparency Market Research report, titled, “Facial Injectables Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020.”
Global Facial Injectables Market, by Product
- Botulinum Toxin
- Hyaluronic Acid
- Polymers and Particles (PPFs)
- Polymethylmethacrylate beads (PMMA microspheres)
- Poly-L-lactic acid
- Calcium hydroxyapatite
- If existing PR doesn’t mention segmentation, go to the RD of that report, copy the segmentation part and paste it here
Global Facial Injectables Market, by Geography
- North America
- Rest of the World
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