Hyaluronic Acid Based Dermal Fillers Market Size worth USD 6.93 Billion
The global hyaluronic acid based dermal fillers market size was valued at USD 3.89 billion in 2021. The market is projected to grow from USD 4.11 billion in 2022 to USD 6.93 billion by 2029, exhibiting a CAGR of 7.7% during the forecast period.
This information is provided by Fortune Business Insights, in its report, titled, “Hyaluronic Acid Based Dermal Fillers Market, 2022-2029.”
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Drivers and Restraints:
Rising Demand for Minimally Invasive Facial Treatments to Augur Market Growth
The requirement for anti-aging cosmetic therapies has augmented as the global population has matured. Hyaluronic acid based dermal fillers are vastly commended owing to their moisturizing and viscoelastic properties in minimally invasive anti-aging operations. The increasing interest among people for firmer-looking and ideal skin through non-invasive dermatology processes is anticipated to amplify the minimally-invasive aesthetic techniques utilizing hyaluronic acid fillers, thus fueling the global hyaluronic acid based dermal fillers market growth.
COVID-19 Impacts:
COVID-19 Reduced Market Growth in 2020 Backed by Shutting of Dermatology Centers
The impact of COVID-19 witnessed an outcome of lowered demand for HA-based dermal fillers in 2020. This is credited to the withdrawals in dermal fillers surgeries and decreased admission rate for anti-aging treatment during the pandemic. The global market noted a deterioration of -24.8% in 2020 than 8.3% in 2019.
The widened interruption commenced due to COVID-19 has considerably influenced the production processes of raw hyaluronic acid. The announcement of lockdown in mostly affected spaces resulted in a standstill in the supply chains of dermal fillers, thereby perceiving a consequence of fall in sales.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:
Wrinkle Correction Treatment to Hold Lion’s Share Owing to Growing Implementation in Dermal Fillers Procedures
Based on application, the market is segmented into scar treatment, wrinkle correction treatment, lip enhancement, restoration of volume/fullness, and others. The wrinkle correction treatment segment is projected to grow at the highest CAGR during the forecast period, 2022-2029.
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