Facial Rejuvenation Market Revenue to Worth Over USD 35,518.9 Million by 2027, Owing to Increasing Number of Facelift Surgeries
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
According to Global Facial Rejuvenation Market Report, By Product Type (Topical Rejuvenation Products (Keratolytics, Moisturizers. Retinoids, Sunscreens, and Hair Removals), Botulinum Products, Dermal Fillers (Absorbable Dermal Fillers and Non-Absorbable Dermal Fillers), Chemical Peels, Micro Abrasion, and Equipment (Laser-based equipment and Ultrasound-based equipment)), By End User (Hospitals and Dermatology Clinics), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights, the global facial rejuvenation market is estimated to account for US$ 35,518.9 Mn in terms of value by the end of 2027.
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Facial rejuvenation involves use of surgical procedures to restore skin elasticity and help maintain youthful appearance in the face and neck region. It may include plastic surgery and non-invasive or minimally invasive approaches such as Botulinum Type-A neurotoxin injections, dermal fillers, chemical peels, and topical applications.
Increasing number of facelift surgeries is expected to propel growth of the global facial rejuvenation market over the forecast period. For instance, according to International Society of Aesthetic Plastic Surgery (ISAPS), 398,798 number of facelift surgeries were performed worldwide in 2018.
Significant growth in the medical tourism sector in emerging economies is surgeries is expected to propel growth of the global facial rejuvenation market. For instance, according to ISAPS, 392,530 nonsurgical procedures were performed using botulinum toxin in Brazil in 2018. Moreover, increasing focus on enhancing aesthetic appeal is also expected to aid in growth of the market.
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However, lack of trained professionals, especially in the emerging economies, that offer facial rejuvenation is expected to hamper growth of the global facial rejuvenation market.
Among product type, the Botulinum products segment is expected to witness significant growth in the global facial rejuvenation market over the forecast period, owing to increasing demand for minimally invasive facial rejuvenation procedures. For instance, according to ISAPS, adoption of botulinum toxin worldwide witnessed 17.4% growth in 2018 compared to 2017. Moreover, the number of men opting for Botulinum injection has increased significantly. For instance, according to ISAPS, in 2017 656,097 men opted for Botulinum toxin, which increased to 752,752 in 2018. The segment was valued at US$ 7,845.5 Mn in 2018 and is expected to reach US$ 13,537.4 Mn by 2025 at a CAGR of 6.0% during the forecast period.
Among end users, the dermatology clinics segment held dominant position in the global facial rejuvenation market in 2018, owing to increasing number of facial aesthetic procedures. The segment accounted for 81.2% share in terms of value in 2018.
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Regulations
- Registration/GMP requirements in the U.S.
- For cosmetics: Voluntary Cosmetic Registration Program (VCRP) – 21 CFR 710 and 720
- For drugs: FD&C Act, sec. 510; 21 CFR 207
- Manufacturing
- Cosmetics: Adherence to cGMP guidelines is preferred but not mandatory
- Medical devices: Adherence to cGMP guidelines is mandatory
- Labelling and other requirements
- Cosmetics: Labelling is guided by FDA’s Cosmetic Labeling Manual
- OTC Drugs: Labelling is must and done as per labeling norms listed under 21 CFR 201.66
- Active ingredients should be listed alphabetically in descending order of predominance followed by inactive ingredients
- Botulinum type-A cosmetic products are newly labelled as Onabotulinumtoxin A, Abobotulinumtoxin A (Dysport) and Incobotulinumtoxin A (Xeomin) used for treating moderate to severe glabellar lines, moderate to severe lateral canthal lines, known as crow’s feet
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Key Takeaways:
- Increasing number of facelift surgeries to augment growth of the global facial rejuvenation market over the forecast period
- Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in October 2019, InMode Ltd. received Health Canada Certification for multiple new products such as Morpheus8 and AccuTite. Morpheus8 a proprietary subdermal adipose remodeling device. AccuTite is a minimally invasive technology.
- Key players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2019, Venus Concept Inc., a medical aesthetic technology company, announced the completion of its merger with Restoration Robotic, Inc.
- Major players operating in the global facial rejuvenation market include Merz Pharma, Anika Therapeutics, Inc., Lumenis, Galderma, Allergan (Actavis), Contura Ltd., Fibrocell Science, Inc., and Revance Therapeutics.
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