North America Facial Injectables Market: Overview
The demand for facial injectables across North America has been on a continued rise due to changing lifestyles and rising disposable incomes. The increasing focus on physical appearance and aesthetics are also expected to drive the demand for facial injectables in the coming years. The research report states that the North America facial injectables market was valued at US$2.1 bn in 2015 and is expected to reach US$5.8 bn by the end of 2024. Between the forecast years of 2016 and 2024, the global market is expected to rise at a CAGR of 12.0%. The market for facial injectables in North America has also been gaining momentum due to the increased longevity of the effects of these injectables.
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Desire to Look Younger Drives North America Facial Injectables Market
Analysts anticipate that the North America facial injectables is expected to receive a significant momentum due to the growing emphasis on physical appearances and the increasing need to reverse the signs of aging. Owing to these reasons, several consumers are spending on facial injectables for cosmetic purposes such as scar lightening, reducing deep lines, and easing out wrinkles. Facial injectables procedures are minimally invasive and thus take lesser recovery time as compared to any other procedures for aesthetics such as face lift surgeries or plastic surgeries. This factor is expected to play a major role in shaping the trajectory of the North America facial injectables market in the near future.
The various products available in the North America facial injectables market are botulinum toxin, hyaluronic acid, collagen, and particle and polymer fillers (PPF). Of these, the botulinum toxin segment held the dominant share in the overall market. The hyaluronic acid segment closely followed this share. Analysts anticipate that the particle and polymer fillers segment is expected to exhibit a steady growth rate during the coming years. The rising demand for botulinum toxin will be attributable to the increasing obsession with physical appearance and desire to look younger.
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U.S. to Dominate Overall Market as Consumers Spend Generously on Skin Treatment
In terms of geography, the North America facial injectables market is segmented into Canada and the U.S. According to the research report, the U.S. held the largest share of the North America facial injectables market in 2015. This share was attributable to the increasing expenditure on aesthetic procedures by the consumers in the country. The steady rise in the demand for dermal fillers for anti-aging treatment is expected play an important role in the boosting the North America facial injectables market.
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The American Society for Aesthetic Plastic Surgery states that the expenditure on surgical and non-surgical aesthetic procedures across the U.S. stood at US$13.5 bn in 2014, which shows a US$ 1.5 bn rise over that in 2014. Canada will also follow this trend in the coming years. Analysts predict that the number of patients will skin issues will continue to remain on the rise across North America, which, in turn, will boost the uptake of non-surgical procedures in the region.
The key players operating in the North America facial injectables market are Allergan Plc, Galderma S.A. (Nestle), Merz Pharma & Co. KGaA, Prollenium Medical Technologies Inc., Ipsen Group, and Bloomage BioTechnology Corporation Limited. Of these, Allergan Plc held a dominant share in the overall market, making the competitive landscape fairly monopolistic in nature.
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