From the last decade, there has been a rapid growth in the standard of living around the globe (due to rising per capita income) People are more health conscious and also appearance has become as a style statement in the recent sometime. Raised eye-brow is considered ugly in some countries while a broad chin is ugly in some regions such as East-Asia. This has given much room for the facial aesthetic procedures majorly involving the use of facial injectors. This can be supported by the fact that the cosmetic surgical procedures have grown three-fold during the last decade, as per The American Society of Aesthetic Plastic Surgery.
The technological advancement is never ending and has touched almost every phase of our life. Surgeries have become minimally or non-invasive due the introduction of various novel technologies. The adoption of cosmetic surgical procedures and rising demand for the facial aesthetic procedures involve facial injectors and is driving the global market. As per American Society of aesthetic plastic surgery, there has been a 7% growth in the cosmetic non-surgical procedures in 2017 as compared to 2016. Further , in the last 15 years there has been a 312% growth in the soft tissue filler procedures. Out of the all other non-surgical procedures, dermal fillers and injections for wrinkle relaxation are seeing an upsurge in the demand. This demand is primarily due to various advantages such as a no blood loss, almost painless procedures, less likely to be infected and overall low cost of procedures. All these factors are poised towards a propelling growth of the facial injectors market in the forecast period.
With the growing penetration of technology, the cosmetic procedures involving facial injections require precision and expertise. Despite presence of trained personnel, these procedures have a flip side as well which is a major restraining factor for the market growth. The most likely side-effects associated with procedures such as wrinkle relaxation and dermal fillers involving the use of facial injections includes swelling, redness, rashes, drooping of the eyelid, itching and hives. These side-effects are not severe, however, prolonged exposure can lead to serious complications. It can cause skin cell death which may leave a permanent scar or may require surgery. Further, a chemical present in these injectables namely Botulism toxin can cause serious side-effects leading to breathlessness. Additionally, unfavorable reimbursement policies in many countries is estimated to lag the market. For example, as per CMS India, various surgical procedures such as rhinoplasty, chemical peel, dermabrasion etc. are denied for any kind of claims.
The global market for facial injectors is segmented based on type, end-user, applications and region. Based on its type, the market is segmented into anti-ageing/ anti-wrinkle injections and injectable implants/ dermal fillers. Application segment involves Face-Lift, Facial Line Lip Treatments, Correction Treatment. Lastly, end-user segment includes hospitals and cosmetic centers dermatology clinics.
North America is expected to be the largest revenue generating region as the region is witnessing growing demand for cosmetic and non-invasive surgeries due to well established medical infrastructure. However, APAC is considered to be the fastest growing regions due to growing medical tourism due to cheaper medical facilities and rising disposable income in the region.
Looking at the promising growth prospects many companies are trying to have a bite of this pie. Some of the key players of the market are Sanofi, Valeant Pharmaceuticals, Allergan, Revance Therapeutics Inc., and Integra LifeSciences are undertaking various approaches such as M&A, acquisition etc. to be competitive. For example: in Feb. 2018 Allergen-Elastagen acquisition happened which enhanced Allergen’s product portfolio for facial injectors as now the company would take the advantage of Elastagen’s Tropoelastin platform.