Dermal Fillers Market is projected to be worth USD 7.34 Million by 2028, registering a CAGR of 8.6% CAGR during the forecast period (2022-2028), the market was valued at USD 3.88 million in 2021. The biodegradable segment has the largest share in the product type segment, owing to the non-toxicity and long material shelf life of biodegradable materials. The hyaluronic acid segment held a significant share of the market due to the men’s and women’s growing concern about Self appearance. The North American region is expected to gain the largest market share due to the rising demand for cosmetic products and surging adoption of minimally invasive facial procedures.
Dermal fillers are soft gel-like substances injected beneath the skin. They are injected into the skin to add volume and fullness. They can treat a variety of common issues, such as smoothing deep under-eye circles, lifting cheekbones, volumizing lips, smoothing lip lines and nasolabial folds, and hand rejuvenation.
Dermal Fillers Market Dynamics
The increasing number of cosmetic facial surgeries performed by both men and women is expected to play a significant factor in driving the market growth during the forecast period.
The high cost of these fillers along with their harmful impacts such as swelling, infections, and many more are expected to hamper the market growth during the forecast period.
A growing influence of social media, emphasis on physical appearance, rising cultural acceptance, and a fading social stigma on cosmetic procedures, are providing opportunities for the dermal filler market.
COVID-19 Analysis of Dermal Fillers Market
The detrimental effects of COVID-19’s global expansion on numerous countries have shocked governments around the world, prompting them to act decisively to stop COVID-19. The first strain of Coronavirus was identified in Wuhan, China in December 2019 which affected the entire world. On a rise in infection across various nations, around 212 countries were infected by the pandemic. Most companies in numerous nations have been severely impacted by the global crisis COVID-19 pandemic. The coronavirus outbreak harmed the global dermal fillers market. Several cosmetic facilities and clinics were closed during the global lockdown. The increased prevalence of coronavirus has reduced the number of aesthetic surgeries, which harmed the size of the dermal fillers market.