Collagen Filler Market is Estimated to Witness High Growth Owing to Growing Awareness About Anti-Aging Products
The collagen filler market consists of a wide range of products used for skin rejuvenation and scar treatment. Collagen fillers work by stimulating the production of collagen in the skin to reduce creases and wrinkles, lifting the skin, and improving the appearance of scars.
Increasing preference for minimally-invasive aesthetic procedures and fear of aging is driving the demand for Collagen Filler Market Demand. Collagen fillers are injected just below the skin's surface to plump up and smooth out fine lines and wrinkles.
Global collagen filler market is estimated to be valued at US $521.96 million in 2023, and is expected to exhibit a CAGR of 7.4% during the forecast period (2023-2030).
Key Takeaways
Key players operating in the collagen filler market are Allergan, Inc., Johnson and Johnson Private Limited, Collplant Holdings Ltd, Ortho Dermatologics, Inc., Suneva Medical, Inc., Merz Pharma GmbH and Co. KGaA, Surgical Specialties Corporation, Sinclair Pharma, Inamed GmbH, and Endo International plc.
The various treatment procedures performed using collagen fillers and the new product launches are proving to be major opportunities in the market. Moreover, increasing medical tourism and expansion of key manufacturers in developing regions are boosting the global expansion of the collagen filler market.
Market Drivers
The growing awareness about anti-aging products through social media platforms and increasing adoption of non-surgical and minimally invasive cosmetic procedures are propelling the Collagen Filler Market Size and Trends. Additionally, the rising geriatric population who is more prone to developing age-related signs like wrinkles and laughter lines is augmenting the collagen filler market growth. The increasing disposable income and growing per capita healthcare expenditure in developing countries are also anticipated to contribute to the market growth over the forecast period.
PEST Analysis
Political: The collagen filler market is regulated by various government authorities to ensure product safety and efficacy. Manufacturers have to comply with various rules and regulations for new product approval and operations.
Economic: Increasing disposable incomes and growing medical tourism in emerging markets are supporting the growth of the collagen filler market. Rising aesthetic consciousness among consumers is another major driver.
Social: Growing social acceptance of medical aesthetics and more open discussions on anti-aging have positively impacted the collagen filler market. Social media influence has also contributed to its popularity among younger demographics.
Technological: Advancements in injectable filler technologies allow for gradual volume restoration and long-lasting results with minimal discomfort or side effects. Applications of collagen fillers are becoming more precise with tools like cannulas and finesse needles.
The market in terms of value is mainly concentrated in North America and Europe due to higher penetration of non-surgical cosmetic procedures in these regions. The Asia Pacific market is witnessing rapid growth due to rising medical tourism, growing middle class and increasing accessibility of treatments. The increasing popularity of aesthetics in countries like China, South Korea, Thailand and India is fueling the demand in Asia Pacific.
Latin America is emerging as the fastest growing regional market for collagen fillers. This growth can be attributed to growing medical aesthetics industry, rising disposable incomes, and increasing preference for effective non-surgical anti-aging treatments in the region. With growing medical facilities and skilled professionals, the market is expected to exhibit strong gains in Brazil, Mexico and other key Latin American countries.
Discover the Report for More Insights, Tailored to Your Language:
About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
Comments
0 comment