The global hyaluronic acid-based dermal fillers market size is estimated to reach USD 8.23 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.6% from 2023 to 2030. Increasing demand for minimally invasive procedures, growing geriatric population, increasing awareness & concern for younger skin and advancement in technology are some of the key factors driving the market.
The global geriatric population is on the rise. Estimates published by the WHO suggest that the global population of the age group 65 years and above is anticipated to rise from 7% in 2000 to 16% in 2050. An associated consequence of this increase in the geriatric population is increase in incidence of obesity, skin aging, and osteoarthritis. Along with growing preference for minimally invasive surgeries, global increase in the target population is expected to significantly propel demand for hyaluronic acid products throughout the forecast period.
However, the higher cost of HA based fillers market is restraining the market opportunities. The HA-based dermal fillers are available in syringes of 1ml costing USD 600-1000 per syringe. Most of the times a dosage of minimum 2 syringes is required, taking the cost of treatment to USD 1600-2000 which is quite high. The high cost of products makes it difficult for the population of low- medium-income countries.
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Based on the products, the single-phase products held the highest market share in 2022 owing to desired and beneficial effects produced by single-phase products which leads to higher preference among consumers.
Based on application, the wrinkle correction segment dominated the market in 2022. This can be attributed to the increasing spending on cosmetic procedures and the advent of technology for wrinkle correction suing HA-based fillers.
Based on region, North America dominated the market in 2022. This can be attributed to favorable government policies, a rise in the number of plastic surgery procedures and growing ageing population in the region. For instance, as per the Statistics Canada's population statistics published in September 2021, the total population above 60 years of age in Canada is 96,88,677.
The Asia pacific market is expected to have fastest growth during the forecast period owing to the rapid economic growth in nation like Japan, China & South Korea and improvement in healthcare infrastructure in the region.
Grand View Research has segmented the hyaluronic acid-based dermal fillers market based on product & application:
Hyaluronic acid-based dermal fillers Product Outlook (Revenue, USD Billion, 2018 - 2030)
Single Phase Products
Duplex Products
Hyaluronic acid-based dermal fillers Application Outlook (Revenue, USD Billion, 2018 - 2030)
Wrinkle Correction
Lip Augmentation
Rhinoplasty
Others
Hyaluronic acid-based dermal fillers Regional Outlook (Revenue, USD Billion, 2018 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Sweden
Denmark
Norway
Asia Pacific
China
Japan
India
Australia
Thailand
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
List of Key Players of Hyaluronic acid-based dermal fillers Market
AbbVie, Inc.
Galderma
HUGEL, Inc.
Laboratories Vivacy
Revance Therapeutics, Inc.
Medytox, Inc.
Sinclair Pharma
Prollenium Medical Technologies Inc
Merz Pharma
Teoxane
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