AESTHETIC INJECTABLES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Size and Trends

The aesthetic injectables market is estimated to be valued at USD 9.01 Bn in 2024 and is expected to reach USD 19.76 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.

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The aesthetic injectables market is witnessing positive trends with the rising number of aesthetic procedures. With increasing aesthetic consciousness and access to newer products and services, more people are opting for minimally invasive aesthetic treatments. Procedures, such as botox and dermal fillers, are becoming increasingly popular globally to treat signs of aging, facial wrinkles, and folds. The availability of new product variations and formulations that cater to diverse consumer needs along with the increasing social acceptance of aesthetic treatments have been driving the market growth over the past few years. However, high cost of certain premium products remains a challenge along with medical and post procedure complications for some people.

Rising concern about physical appearance

With the growing influence of social media, people are increasingly conscious about their looks and physical appearance. Many feel pressurized to maintain a certain aesthetic standard set by the society or media. This has led to the rise of cosmetic procedures and non-invasive treatments that can help people look younger and better without undergoing extensive surgeries. Aesthetic injectables allow altering specific parts of the face through temporary injections, thereby addressing the concern areas instantly. Procedures like wrinkle relaxing injections and dermal fillers are used extensively to smoothen fine lines, plump thin lips, and lift sagging jawlines or cheek areas. Moreover, these procedures involve minimal downtime, allowing people to resume work or normal activities immediately after the treatment. The non-invasive nature and temporary effects make aesthetic injectables very appealing to people who want to look polished and refreshed with ease.

Market Concentration and Competitive Landscape

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Aging is an inevitable process that starts showing its effects from 30s on the facial skin and structure. Factors like sun exposure, pollution, and stress gradually take a toll leading to the formation of wrinkles, loss of volume, and definition. While this was considered a natural part of life earlier, people today want ways to slow down or reverse the visible signs of aging. The desire to look and feel younger has increased manifold. As the world population is aging significantly and medical interventions have improved life expectancy, a greater number of people are also looking to maintain their youthfulness for longer through various procedures. Aesthetic injectables are seen as an effective and affordable solution for dealing with multiple aging concerns at once. Fillers help restore lost volume in areas like cheeks and lips, making one's face look plumper and defined. Injection of botulinum toxin paralyzes facial muscles temporarily reducing deep lines and wrinkles. Such non-invasive anti-aging treatments allows people to shave off few years from their facial appearance, thereby boosting self-confidence and well-being. Delaying the natural aging process has become a priority for many today, driving the demand for aesthetic injectables on a global level.

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The aesthetic injectables market faces several challenges. Procedures often require frequent repeat visits, making long-term customer retention difficult. Many patients struggle with perceived risks from unlicensed or under-qualified practitioners. Strict regulations vary widely globally, necessitating navigating an intricate regulatory landscape. Additionally, market saturation in key territories pressures providers to continually develop new solutions and reach newer demographics.

Market Opportunities – Rising medical tourism

A growing emphasis on appearance and self-care is anticipated to create lucrative opportunities over the forecasted period. Medical tourism to locations with lower costs is rising. Non-surgical treatments appeal to those wary of surgical options. New applications continue broadening the market beyond traditional offerings. Technologies like neuromodulators also expand addressable concerns. With tailored products and services, more customers can be engaged, thus creating lucrative opportunities for market growth over the forecast period.

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The type segment includes botulinum toxin, dermal fillers, platelet-rich plasma (PRP) therapy, deoxycholic acid, and others. The dermal fillers segment is estimated to hold 26.9% share of the market in 2024. Dermal fillers are injections used to repair skin depressions and wrinkles without surgery. As people are more image conscious today and want to look youthful for longer, the demand for non-invasive aesthetic treatments has surged significantly. Dermal fillers allow smoothing of fine lines and wrinkles with minimal time commitment and downtime compared to surgical procedures like facelifts or laser treatments. The non-surgical nature and immediate results have made dermal fillers extremely popular among both younger consumers looking to prevent signs of aging and older individuals seeking to reverse the effects of aging. Moreover, the availability of a wide range of dermal filler products at varying prices has ensured options for all budgets. Hyaluronic acid based dermal fillers dominate the market owing to their safety profile and ability to produce long-lasting and natural looking results. The growing social acceptance of aesthetic procedures also contributes to the high demand for dermal fillers.

Insights, By Application: Rising Prevalence of Acne and Scarring

The application segment includes lip enhancement, wrinkle reduction, acne scar treatment, cheekbone augmentation, and others. The acne scar treatment sub segment is expected to have 29.8% of the market share in 2024. Acne is one of the most common skin conditions affecting people of all ages. While acne can be temporarily treated with topicals and oral medications, its scarring often requires dedicated procedures. Acne scarring including boxcar, rolling, and ice pick scars can have significant psychological impact by making skin appearance uneven. As people are recognizing the importance of clear skin in building self-confidence, the demand for acne scar treatments has surged. Aesthetic injectables help treat acne scars through collagen stimulation and skin contouring. Combination therapies using dermal fillers along with lasers or fractional radiofrequency effectively reduce acne scarring appearance. In addition, growing awareness about acne scar management options among consumers is augmenting the market potential. Social media also plays a vital role in educating people about available treatment solutions.

Insights, By End User: Convenience and personalized expertise drives dermatology clinics growth

The end user segment includes hospitals, dermatology clinics, and others. The dermatology clinics segment accounts for the highest share of the market and is anticipated to hold 57.1% of the market share in 2024. Board-certified dermatologists offer personalized expertise and assessment of aesthetic concerns and skin health. Their comprehensive evaluation of medical history and customized treatment plans inspire higher confidence among cosmetic procedure seekers. Dermatology clinics also have advanced medical infrastructure, equipment, and trained staff to safely and effectively administer aesthetic injectables. Board certifications and focused experience treating a wide spectrum of skin conditions give dermatologists a thorough understanding of anatomy and potential side effects. Their experience administering numbing agents and technique greatly reduces pain and yields consistent, natural looking results. Further, the availability of multi-specialty dermatologist teams to evaluate skin concerns and provide adjunct cosmetic services like lasers, peels, and skin tightening under one roof is a key factor driving the segment growth. Changing consumer preference towards physician administered minimally invasive treatments has made dermatology clinics a predominant channel in the aesthetic injectables market.

Regional Insights

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North America has dominated the global aesthetic injectables market for several years owing to factors like increasing consumer awareness about aesthetic procedures and a strong foothold of key market players in the region. The North America region is anticipated to hold 41.2% of the market share in 2024. The U.S. is the largest market in North America due to higher adoption rates of minimally invasive aesthetic treatments among consumers. Procedures like botulinum toxin and dermal fillers have become very common due to their ability to offer anti-aging effects with minimal downtime. Also, the presence of advanced medical facilities and highly trained professionals ensure safe service delivery.

Meanwhile, Asia Pacific has emerged as the fastest growing regional market for aesthetic injectables in recent times. The growth can be attributed to rapidly changing lifestyles and increasing spending power on personal care in developing countries like China, India, and South Korea. These nations have stepped up investments in medical tourism to capitalize on the burgeoning demand from domestic as well as international patients. For example, dermatology clinics in South Korea are globally renowned for their expertise and innovative treatment options. Their consistent efforts to enhance quality standards is paying off through increasing brand recognition and higher footfalls.

Market Report Scope

Key Developments

• On March 20, 2024, Merz Aesthetics, the world's largest dedicated medical aesthetics company, announced the launch of a new complete educational ecosystem called MAX Merz Aesthetics Exchange. Based on trusted, science-based aesthetics knowledge, it provides an inclusive approach that crosses traditional barriers, ensuring a transformative educational experience customized to the evolving requirements of learners worldwide.
• On February 1, 2024, Merz Aesthetics announced that Radiesse has been approved to treat the décolleté area. Radiesse is a regenerative biostimulator that may regenerate numerous components of skin tissue, resulting in healthier-looking skin. The product is now approved for usage in the décolletage, increasing its versatility.
• In June 2023, Galderma, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) approved Restylane Eyelight for the treatment of undereye hollows, often known as dark shadows, in individuals over 21. Restylane Eyelight, an undereye hyaluronic acid (HA) dermal filler, is the first and only treatment in the U.S. designed with NASHA Technology to address volume loss under the eyes, providing patients with natural-looking results.
• In March 2023, Galderma announced the launch of FACE by Galderma, a unique aesthetic visualization tool powered by augmented reality (AR) that allows aesthetic experts and patients to preview injectable therapy outcomes before treatment begins. This unique method provides patients with a simulated real-time "before and after" view of what is feasible with a tailored treatment plan, perhaps alleviating patient anxieties regarding injectable results.

*Definition:The aesthetic injectables market involves pharmaceutical products used for aesthetic purposes to enhance personal appearance. It includes dermal fillers, botulinum toxin, and collagen stimulators that are injected into the skin temporarily reshaping features or minimizing the appearance of wrinkles and facial lines. These injectable cosmetic procedures are increasingly popular among people looking to address signs of aging or enhance certain facial features in a minimally invasive manner. The global aesthetic injectables market has seen significant growth in recent years.

Market Segmentation

•  Type Insights (Revenue, USD BN, 2019 - 2031)
  • Botulinum Toxin
  • Dermal Fillers
  • Platelet-Rich Plasma (PRP) Therapy
  • Deoxycholic Acid
  • Others
•  Application Insights (Revenue, USD BN, 2019 - 2031)
  • Lip Enhancement
  • Wrinkle Reduction
  • Acne Scar Treatment
  • Cheekbone Augmentation
  • Others
•  End User Insights (Revenue, USD BN, 2019 - 2031)
  • Hospitals
  • Dermatology Clinics
  • Others
• Regional Insights (Revenue, USD BN, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • AbbVie
  • Galderma
  • Merz Pharma
  • Teoxane Laboratories
  • Sinclair Pharma
  • Suneva Medical
  • Croma-Pharma GmbH
  • Luminera Derm
  • Johnson & Johnson
  • Revance Therapeutics
  • Hyaltech Ltd
  • Bioxis Pharmaceuticals
  • Prollenium Medical Technologies
  • SciVision Biotech Inc.
  • Bloomage BioTechnology Corporation Ltd.