According to Coherent Market Insights, the global collagen filler market is estimated to be valued at US$ 648.1 million in 2020 and is expected to exhibit a CAGR of 7.4 % during the forecast period (2020-2027).
Key Trends and Analysis of the Global Collagen Filler Market:
Key companies are focusing on research and development activity and technological advancement in collagen filler is expected to drive the global collagen filler market growth. For instance, in September 2020, CollPlant, an aesthetic medicine company, presented the overview of a plant-derived recombinant human collagen for anti-ageing therapies at the Science of Aging Virtual Symposium 2020 which is a symposium event for showcasing innovation in the field of aesthetic medicine.
Moreover, increasing cosmetic procedures such as face lifts, wrinkle removal, breast augmentation, and lip treatments are expected to drive the global collagen filler market growth. For instance, according to American Society of Plastic Surgeons Report 2020, in 2019, 123,685 face lift procedures and around 37% of soft filler injection were used for treatment of various skin conditions such as skin ageing, wrinkles and face lift procedures across the globe.
Furthermore, various initiatives have been taken by regulating bodies to ensure efficient use to synthetic and cosmetics products for safer use of dermal fillers and to avoid side effects. For instance, in 2018, the US Food Drug and Administration approved temporary/absorbable dermal fillers for correction of moderate to severe face wrinkles, skin folds and unapproved dermal fillers for breast augmentation, size of buttocks, enhance fullness of feet and dermal implants into the bone, tendon, ligament and muscle.
Among regions, the North America market is expected to register highest market share owing to an increase in plastic surgery procedures such as face rejuvenations, lip treatments and temporary procedures such as face line corrections. According to the American Society of Plastic Surgeons report of May 2020, 1.8 million plastic surgeries were performed by certified plastic surgeons in 2018.
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Key Market Takeaways:
The global collagen filler market is expected to exhibit a CAGR of 7.4% during the forecast period owing to increasing on research and development along with technological advancement in collagen fillers along with increasing number of cosmetic procedures such as face lifts, wrinkle removal, face rejuvenation and lip treatments.
Key players operating in the global collagen filler market are Allergan, Inc., Johnson & Johnson, Collplant Holdings Ltd, Ortho Dermatologics, Inc., Suneva Medical, Inc., Merz Pharma GmbH & Co. KGaA, Surgical Specialties Corporation, Sinclair Pharma, Inamed GmbH, and Endo International plc.
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