The global facial injectable market size is expected to reach USD 27.7 billion by 2028. It is expected to expand at a CAGR of 8.8% from 2021 to 2028.
The facial injectable is a substance that is used to reduce wrinkles and restore volume and fullness in the face. It is injected beneath the facial skin surface. Some commonly used facial injectables include hyaluronic acid, botulinum toxin type A, and polymer fillers.
The growing focus on physical appearance, especially in developing countries, is one of the key factors expected to drive the market. In addition, a shift in consumer preference toward minimally invasive procedures is expected to support market growth. According to the American Society of Plastic Surgeons (ASPS), in 2019, botulinum toxin A and soft tissue fillers were among the top 5 minimally invasive procedures carried out in the U.S. Thus, facial injectable holds high growth prospects in the years to come.
The Asia Pacific region is expected to serve as a key revenue-generating center. The region is backed by countries, such as India, where a growing focus on physical appearance is expected to create a lucrative opportunity for the market. Companies such as Allergan are also expanding their presence in the country owing to the rise in the middle-class population, backed by increasing disposable income.
With non-urgent and cosmetic surgeries being put on hold in most of the clinics across the world, surgeons are consulting their patients via telemedicine. Some surgeons are expecting an initial rush once the clinic reopens due to backlog cases, however, in the long run, they predict changes in the near future. There will also be an additional impact on revenue. With deep sanitization and PPEs to be worn for even injectable procedures, small businesses are expected to undergo the overhead expense and a decreased revenue, many could even shut down.
Facial Injectable Market Report Highlights
By product, the botulinum toxin type A segment led the market in 2020 and is projected to dominate throughout the forecast period. It is one of the most popularly used minimally invasive procedures.
Based on application, the aesthetics segment is projected to be the fastest-growing segment over the forecast period owing to the rise in the use of facial injectables for aesthetic procedures, such as the treatment of wrinkles on the face.
North America dominated the market in 2020 with a share of over 41.0% owing to the easy availability of the products and the presence of a large number of skilled surgeons.