World facial injectable from 2021-2028
The facial injectable market is expected to expand at a CAGR of 8.8 per cent, from 2021 to 2028, bringing with it opportunities for collagen, hyaluronic acid, botulinum toxin type A, calcium hydroxylapatite, polymer fillers.
Facial injectable are substance used to reduce wrinkles caused by ageing and restore volume and fullness in the face; they are injected directly beneath the skin surface. The increasing importance given to anti-ageing in developing countries and the non-invasive nature of injectable will drive and sustain this sectors market growth. According to the American Society of Plastic Surgeons (ASPS), in 2019, botulinum toxin A and soft tissue fillers were among the top five minimally invasive procedures carried out in the US.
The global facial injectable market size is expected to reach US$ 27.7 billion by 2028 with the Asia Pacific region functioning as a key revenue-generating area. India, which has a growing focus on aesthetics will be a major market player and will back the overall growth. A growing middle-class population and increasing disposable incomes are also factors that will contribute to market growth.
On the downside
Unfortunately, with second and third lockdowns being enforced globally, elective surgeries might be put on hold once again; surgeons are consulting their patients via telemedicine. Despite backlog work resulting in revenue spikes, when surgeries go back to full-swing, in the long run, surgeons predict changes in the way procedures will be carried out. With the requirement of deep sanitization and PPEs for even injectable procedures, especially small businesses will suffer negative impacts on revenue, many could even shut down.
Market report highlights:
• Botulinum toxin type A will continue to lead the market throughout the forecast period, as one of the most popularly used minimally invasive procedures.
• The aesthetics segment is predicted to be the fastest-growing market segment over the forecast period. This is primary due to the increase in the demand of facial injectable.