Economic crisis and competition drives prices in European facial injectable market dramatically lower

Strongly Increasing Procedure Volumes Will Expand Market through 2017, According to Millennium Research Group

Jan 09, 2013, 08:00 ET from Millennium Research Group

TORONTO, Jan. 9, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, decreased consumer confidence stemming from the eurozone economic crisis will result in slowed growth for the European facial injectable market over the next year or two, after which it will resume more robust growth. Strong price competition has driven average selling prices down to less than half that of equivalents in North America. Strongly rising procedure volumes will lead to significant growth, and the market will reach a total value of just under $410 million by 2017.

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Spain and Italy were the worst performing national markets in 2012, showing no growth. France, Germany and the United Kingdom showed more resilience, experiencing growth of just over three percent in 2012. The UK will remain the largest national market in Europe. As is true worldwide, a greater acceptance of aesthetic procedures will lead to an expanding patient pool for facial injectable treatments, helping to support growth.

Competitors are entering the market with dermal fillers with claims of greater effectiveness, or for new indications. Volumizing fillers will experience the fastest growth. Most hyaluronic acid (HA) fillers currently on the market are indicated for wrinkle removal, but a greater variety of dermal fillers are now being introduced, including the growing group of volumizing fillers. Combination treatments will also lead to an increase in unit sales.

"The strong price competition in Europe favors larger companies," said MRG Analyst Carmen Chan. "They can provide physicians with volume discounts by bundling multiple products. After its acquisition of Q-Med in 2011, Galderma joined Allergan and Merz Pharma as one of three companies that have both botulinum toxin (BTX) and dermal filler product offerings. The three market leaders have a dominant share, and competition between them will continue to push prices down."

Millennium Research Group's European Markets for Facial Injectables 2013 report includes unit, installed base, average selling price and revenue information, along with market drivers and limiters and competitive landscape for BTX and dermal filler products sold in France, Germany, Italy, Spain, and the UK.

About Millennium Research Group
Millennium Research Group (, a Decision Resources Group company (, is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

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Millennium Research Group

SOURCE Millennium Research Group