Desire to Look Young and Beautiful Underpinning Growth in North America Market for Facial Injectables
A report by Transparency Market Research forecasts the North America facial injectables market to clock a healthy CAGR of 12.0% to reach a value of US$5.8 bn by 2024-end from US$2.1 bn by the end of 2015. Changing lifestyles and increasing spending capacity of people is slated to foster good growth in the region.
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Why are facial injectables in demand in the North America market?
Increasing obsession with physical appearances and the efforts to undo signs of aging among people have majorly boosted the North America market for facial injectables. People are increasingly opting for facial injectables for cosmetic purposes such as scar lightening, reducing deep lines, and easing out wrinkles. By dint of being minimally invasive, facial injectables procedures take lesser recovery time as compared to any other procedures for aesthetics such as face lift surgeries or plastic surgeries. This explains their quick take-up too. Going forward as well, this would have a positive impact on the market.
The different types of facial injectables purveyed in North America market are collagen, botulinum toxin, hyaluronic acid, and particle and polymer fillers (PPF). Among them, the botulinum toxin segment holds a leading position on account of the increasing obsession with physical appearance and desire to look younger among the denizens. The segment is trailed by hyaluronic acid.
What is serving as a roadblock to the swift take-up of facial injectables?
Allergic reactions on account of the use of living organisms and related chemicals and enzymes will likely pose a roadblock to the market for facial injectables in North America. Further, side-effects such as bleeding, edema, and bruising are also expected to hobble the growth of the regional market. Poor reimbursement policies related with facial injectables are also predicted to bring down spending on them, thereby crimping the market’s growth.
What makes the U.S. take the lead in the North America market?
From a geographical perspective, the U.S. is at the forefront of driving the North America facial injectables market because of the growing trend of splurging on aesthetic procedures by the consumers who can afford it. The growth in demand for dermal fillers for anti-aging treatment is expected play an important role in the boosting the North America facial injectables market. Canada follows in the second position.
The American Society for Aesthetic Plastic Surgery finds that the expenditure on surgical and non-surgical aesthetic procedures in the U.S. stood was a staggering US$13.5 bn in 2014. Canada is expected trend in the coming years.