The Europe Hyaluronic Acid Based Dermal Fillers Market size is expected to reach USD 1.4 billion by 2026, according to a new report by Grand View Research Inc., exhibiting a CAGR of 7.6% over the forecast period. Rapidly aging population, large number of cosmetic surgeries performed, and technological advancements are among key factors driving the market. Growing demand to enhance one’s aesthetic appeal is resulting in high number of cosmetic surgeries being performed. This can also be attributed to the availability of noninvasive surgical alternatives and rising awareness among consumers. According to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2017, hyaluronic acid-based dermal filler procedures were among the three most preferred noninvasive aesthetic surgeries.
Minimal
adverse effects, lesser pain, shorter recovery time, and fewer postsurgical
complications are some of the factors driving preference for minimally invasive
surgeries. The European market is dominated by well-known brands such as
Juvederm, Restylane, and Belotero. In addition, France has several native
brands with different patented technologies, thereby contributing to regional
market growth. Stylage, Cytosial, Hyaluronica, and Surface Volume are some of
the local brands available in the market.
Increasing
demand for aesthetic procedures majorly in Italy and Spain is creating a great
opportunity for market expansion. According to the ISAPS, about 952,830
aesthetic surgeries were performed in 2016, of which 650,995 were noninvasive
procedures such as Botox and dermal fillers.
Various
strategic initiatives such as product launch, approvals, and mergers and
acquisitions propel the market. For instance, in January 2017, Allergan plc
launched Juvederm VOLITE, a new hyaluronic acid dermal filler with its unique
patented VYCROSS technology, which lasts for up to nine months. In another
instance, in September 2018, Allergan acquired Bonti, Inc. to expand its
product portfolio with Bonti’s pipeline products such as (BoNT/E) botulinum
neurotoxin serotype E in phase II, EB-001T (therapeutic), and EB-001A
(aesthetic).
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Europe
Hyaluronic Acid Based Dermal Fillers Market Report Highlights
- Increase in
per capita income in countries such as Germany, Italy, France, and Spain
is a key factor driving the adoption of dermal fillers. Rapid advancements
in dermal filler technology have resulted in better results in lesser time
and at lower costs
- In 2018,
single-phase products dominated the market owing to technological
advancements, wide range of applications, and rise in applications of
implantable devices
- By
application, the wrinkle removal segment is anticipated to grow at the
fastest rate during the forecast period. Hyaluronic acid dermal fillers
are gaining popularity in varied antiaging treatments as they help save
time. A general hyaluronic acid anti-wrinkle treatment procedure takes
less than an hour and the average cost is approximately USD 600
- Italy
dominated the regional market in 2018 owing to technological advancements
in the region and introduction of new products by prominent manufacturers
- Some of the
key players in this industry are Allergan; Galderma Laboratories; Merz
Pharma; Genzyme Corporation; Medicis Pharmaceutical; Inamed Corporation;
Anika Therapeutics, Inc.; Laboratoires VIVACY; Bioxis Pharmaceuticals; and
Bohus Biotech AB.
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