Facial Injectables Market Size, Share & Industry Analysis, By Type (Botulinum Toxin, Collagen, Hyaluronic Acid, Calcium Hydroxylapatite, Poly-L-lactic Acid (PLLA), Polymethyl-methacrylate Microspheres (PMMA), Fat Injection, and Others), By Application (Wrinkle Reduction, Facelift, Acne Scar Treatment, Lipoatrophy Treatment, Lip Enhancement, and Others), By End-user (Hospitals & ASCs, Dermatology & Cosmetic Clinics, and Others), and Regional Forecast, 2024-2032

The facial injectables market size was valued at USD 8.93 billion in 2023. The market is projected to grow from USD 9.54 billion in 2024 to USD 17.24 billion by 2032, exhibiting a CAGR of 7.7% during the forecast period. North America dominated the facial injectables market with a market share of 46.25% in 2023.

There has been a strong increase in disposable incomes across the globe, which has prompted individuals to boost their investment in products that can enhance their aesthetic beauty. This has led to a major change in attitude toward cosmetic procedures as more individuals are trying to improve their aesthetic appearance. As minimally invasive procedures, such as facial injectables, are considered safer and require little to no downtime, an increasing number of people are opting for these products. These injectables include neurotoxins, such as botulinum toxin and dermal fillers, such as hyaluronic acid and calcium hydroxylapatite.

Therefore, an increased demand for cosmetic procedures has encouraged prominent companies to invest in various R&D initiatives to develop novel fillers that address the unmet needs of the customer base. This has led to the launch of several new products and an increase in volume of cosmetic procedures the globe. These factors are expected to contribute strongly to the market growth during the forecast period. Another critical trend that is expected to boost market progress during the forecast period is the greater adoption of these products across all demographic groups.

The COVID-19 pandemic negatively impacted the sales of various cosmetic products across the globe due to reduced demand. Major players in the market reported a considerable decline in their revenue from facial injectables in the second quarter of 2020.

• For instance, Allergan (AbbVie, Inc.), a leading player in the market, recorded a decrease of 22.4% in 2020 in revenue for its Juvederm Collection compared to FY 2019.

Other players, such as Merz Pharma, Revance Therapeutics, Inc., and Anika Therapeutics, Inc., also recorded a decline in their revenue from facial injectables segment in 2020 owing to the cancellation of elective aesthetic procedures and closure of treatment centers. Despite this, an estimated 70% surge in requests for virtual consultations amid the lockdown was observed by different dermatological centers and specialty clinics.

Therefore, there was a strong market recovery in 2021. After that, as the restrictions were lifted, the postponed procedures were conducted due to a robust growth in pent-up demand. Furthermore, a surge in COVID-19 vaccinations across the globe also helped the market achieve sustained growth. Moreover, in 2022, the market bounced back and is projected to register a significant growth rate during 2024-2032, owing to increasing investments by key market players.

Facial Injectables Market Trends

Strong Surge in Product Adoption Among Male Population

One of the key market trends is that several demographic groups have demonstrated an interest in these non-invasive or minimally invasive procedures. One of these demographic groups includes the male population, which has increased the adoption of these cosmetic procedures.

As the aging population comprises people of all ages and genders, the male population has observed that age and gravity can adversely impact their facial appearance over time. This is why these injectables, including dermal fillers and botulinum toxin, are being increasingly adopted by males due to their efficiency in reversing the early signs of gravitational aging that occur on the face. Moreover, patients do not need any downtime for recuperation from these procedures, which is further slated to improve their demand.

• According to the International Society of Aesthetic Plastic Surgery (ISAPS) global survey results for 2022, the male demographic group accounted for approximately 14.3% of the total non-surgical procedures conducted across the world. With dermatologists giving greater attention to this demographic group, the proportion of men undergoing cosmetic procedures may increase during the forecast period.

In addition, concerns among young adults regarding the maintenance of beauty standards have increased in recent years. For instant gratification, adults between the ages of 20-29 opt for various facial injectables to prevent aging through the smoothening of skin texture or the correction of wrinkles, lip augmentation, and other cosmetic procedures to enhance physical appearance.

Hence, these new trends are expected to open up a new patient population base demanding cost-effective facial injectables from the companies engaged in this market. This factor is poised to significantly drive the CAGR over the forecast period.

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Facial Injectables Market Growth Factors

Increased Demand for Minimally Invasive Cosmetic Procedures to Boost Market Expansion

The demand for minimally invasive or non-invasive cosmetic procedures, such as botulinum toxin and hyaluronic acid dermal fillers, and cosmetic surgeries has increased tremendously over the past decade. People have sought easier and comparatively pain-free methods for appearing youthful and healthy without having to face the problems associated with invasive cosmetic surgeries. Invasive surgeries have a number of risks attached and often necessitate the patient to take additional days to recuperate from the surgery.

• For instance, according to a report by the American Society of Plastic Surgeons (ASPAS), in the U.S, the number of minimally-invasive cosmetic procedures using neuromodulator injections (Botox, Dysport, Xeomin, and Jeuveau) stood at 8,736,591 in 2022, an increase of 73.2% compared to 2019.

The surge in the demand for these types of cosmetic procedures has also significantly impacted the suppliers of dermatological preparations and other non-invasive technology. Various pharmaceutical companies involved in this field are increasingly launching minimally invasive products to provide reliable and effective beauty care solutions.

• For instance, in March 2021, Royal DSM, a global science-based company in nutrition, health, and beauty products, announced the launch of three different forms of hyaluronic acid.

Moreover, the rising demand for younger-looking and perfect skin is expected to increase the volume of minimally invasive procedures, thereby driving the demand for the product. Hence, these drivers are anticipated to contribute to the global facial injectables market growth.

Increasing R&D Initiatives and Rising Number of Facial Injectable Procedures to Fuel Market Growth

Facial injectables have several aesthetic indications, and growth in the number of application areas in the form of various types of non-invasive or minimally invasive cosmetic procedures is anticipated to drive the global market progress. Increasing research studies for facial injectable products and their positive results, coupled with recent regulatory approvals of these solutions, is a critical factor boosting the global market growth.

• In September 2023, AbbVie Inc. announced positive topline results for its Phase 3 clinical study evaluating the efficacy of onabotulinumtoxinA (BOTOX Cosmetic) for treating moderate to severe platysma prominence. It will reduce the appearance of vertical neck bands and improve the jawline.

Furthermore, advantages, such as better skin resilience, repair of skin discoloration, and regeneration of skin cells, are associated with hyaluronic acid fillers and botulinum toxin, which have increased their adoption among customers. Furthermore, a robust increase in the number of facial injectable procedures over the years is also contributing to the growth of the market.

RESTRAINING FACTORS

High Costs and Relative Side Effects of Facial Injectables May Restrict Market Growth

Despite the various aesthetic applications of facial injectables, several limiting factors of these procedures can hamper the market’s growth in the coming years. The high cost of these injectables is one of the major restraints contributing to the slow growth of this market. The cost of the facial type of injectable may differ depending on the qualification and expertise of the person performing the treatment, the type of procedure used, and the time and effort the procedure or treatment requires.

• For instance, according to the data published by the American Society of Plastic Surgeons in 2023, the average cost of hyaluronic acid fillers, such as Juvederm Ultra, Juvederm Ultra Plus, Perlane, Restylane, and Belotero is about USD 684 per syringe. Radiesse costs around USD 717 per syringe, Sculptra costs approximately USD 853 per syringe, and Bellafill costs around USD 1,058 per syringe.

In addition to this, the harmful side effects, such as pain, swelling or bruising on the injected area, redness, infections, and lumps & bumps caused by the administration of these injectables, are another major factor that may slow the growth of the market.

Facial Injectables Market Segmentation Analysis

By Type Analysis

Hyaluronic Acid Segment Dominated Owing to Product Approvals

By type, the market is segregated into collagen, botulinum toxin, hyaluronic acid, poly-l-lactic acid (PLLA), polymethyl-methacrylate microspheres (PMMA), calcium hydroxylapatite, fat injection, and others.

The hyaluronic acid segment accounted for the highest facial injectables market share in 2023 due to the strong adoption of these products and their wide application areas. Strong benefits associated with these products include better aesthetic outcomes and greater patient safety, which is anticipated to fuel the segment’s growth during the forecast period. For instance, in December 2020, GALDERMA received the U.S. FDA approval for its product named Restylane Kysse. The product will be used for lip augmentation and correction of the upper perioral rhytids. Such regulatory approvals are expected to accelerate the segment’s growth.

Botulinum toxin accounted as the second largest segment in the global market, with the segmental growth being driven by innovative product launches, newer application areas, and greater efficacy in terms of patient outcomes.

The poly-l-lactic acid (PLLA) segment is projected to witness robust growth trends driven by the strong sales trends of products such as Sculptra.

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By Application Analysis

Wrinkle Reduction Segment Led Owing to Heavy Investments in R&D Activities to Reduce Wrinkles

Based on application, the market is segmented into wrinkle reduction, facelift, acne scar treatment, lip enhancement, lipoatrophy treatment, and others.

The wrinkle reduction segment accounted for the leading market share in 2023 owing to new product approvals and heavy investments in the extensive research and development of facial injectables that can reduce wrinkles.

• For instance, in September 2022, a new product launched by Revance Therapeutics Inc. named Daxxify received FDA approval to treat facial wrinkles as it offers long-lasting action, with the results lasting for more than six months. It is also on the verge of becoming a strong competitor of Botox Cosmetic.


• Similarly, in March 2021, Joonghun Pharmaceuticals launched a premium hyaluronic acid-based dermal filler called the Artgaon. The product received the CE market approval and aims to target the European hyaluronic acid-based dermal fillers market.

The lip enhancement segment accounted for the second highest market share in 2023 owing to the rising demand for improving the aesthetic appearance of lips and the development of minimally invasive procedures.

By End-user Analysis

High Procedural Volume in Dermatology & Cosmetic Clinics Fueled the Product Use

On the basis of end-user, the global facial injectable market is divided into hospitals & ASCs, dermatology & cosmetic clinics, and others.

The dermatology & cosmetic clinics segment accounted for the highest market share in 2023. A large number of facial injectable procedures are conducted in dermatology and cosmetic clinics. This is a major factor contributing to the growth of the segment. Furthermore, the rising cases of aesthetic problems, such as wrinkles and loss of facial volume, and an increase in awareness about minimally invasive procedures are expected to favor the expansion of the segment.

• For instance, according to the American Society of Plastic Surgeons (ASPS), minimally invasive procedures gained popularity in 2022 as there was a two-fold increase in these procedures compared to 2019.

The hospitals & ASCs segment held the second-largest market share in 2023. The segment is also anticipated to record a significant compound annual growth rate during the forecast period, owing to an increasing number of facial injectable procedures being conducted in these settings.

REGIONAL INSIGHTS

Based on region, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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North America recorded the highest market revenue of USD 4.13 billion in 2023 owing to the highly aware and economically stable population and a comparatively higher number of procedures being performed in the region.

• For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2022, about 5.8 million non-surgical procedures were performed in the U.S.

Europe registered the second-highest market revenue in 2023. Some of the reasons for the region’s strong market share include a high volume of cosmetic procedures, such as botulinum toxin and various dermal fillers. Furthermore, new product launches in the region by key companies and high expenditure on cosmetic treatments are expected to drive the market’s growth in the region.

Asia Pacific is projected to observe the highest CAGR during 2024-2032. Improvements in the healthcare infrastructure of Asian countries, a growing geriatric population, and increasing consciousness among individuals regarding their physical appearance are driving the growth of the market in the region.

The Middle East & Africa and Latin America accounted for a comparatively lower market share in 2023. The growth of the market in these regions is mainly attributed to the growing focus on physical appearance.

KEY INDUSTRY PLAYERS 

Strong and Diverse Products by ALLERGAN (AbbVie, Inc.) to Help Company Hold Apex Position

The market reflects a consolidated competitive landscape dominated by players, including Allergan Aesthetics (AbbVie Inc.), Galderma, and Merz Pharma. AbbVie Inc. is one of the dominant players operating in this market. The company has a strong emphasis on R&D initiatives to introduce novel products in the market.

• For instance, in August 2022, AbbVie announced that the U.S. FDA had approved the Juvederm Volux XC, which will be used to improve the jawline structure in adults over the age of 21 with moderate to severe loss of jawline definition.

Galderma is considered to be the second most prominent player in the market owing to the strong focus of the company on the launch of novel products in the international market. Other companies, such as Bioxis Pharmaceuticals, Sinclair (Huadong Medicine Co., Ltd.), Revance Therapeutics, Inc., and Medytox (South Korea), are expected to engage in strategic initiatives to gain a large market share. The other companies operating in this market include Revance Therapeutics, Inc. and Ipsen Pharma.

List of Top Facial Injectables Companies:

• Allergan Aesthetics (AbbVie Inc.) (U.S.)


• Ipsen Pharma (France)


• Merz Pharma (Germany)


• GALDERMA (Switzerland)


• BIOPLUS CO., LTD. (Republic of Korea)


• Bioxis Pharmaceuticals (France)


• Sinclair (Huadong Medicine Co., Ltd.) (U.K.)


• Revance Therapeutics, Inc. (U.S.)


• Medytox (South Korea)


• Prollenium Medical Technologies (Canada)

KEY INDUSTRY DEVELOPMENTS:

• October 2023: Sinclair and ATGC Co., Ltd. entered a strategic collaboration and licensing deal. Sinclair was given a global exclusive license for developing and commercializing ATGC’s botulinum toxin product, ATGC-110. This product will be used for the treatment of glabellar lines.


• August 2023: Maypharm launched a 2^nd generation of technologically advanced Metox botulinum toxin and METOOFILL HA dermal filler to overcome the limitations of traditional dermal fillers and make a revolution in the beauty industry. This move indicates great potential for the botulinum toxin market in South Korea.


• June 2023: Galderma received the U.S. Food and Drug Administration (FDA) approval for Restylane Eyelight injection for the treatment of dark shadows below the eye in adults over the age of 21.


• April 2023: Galderma announced that the U.S. FDA approved Sculptra, an injectable poly-L-lactic acid, to correct fine lines and wrinkles in the cheek area.


• October 2022: Prollenium Medical Technologies acquired SoftFil to expand the presence of its dermal filler brand with SoftFil’s innovative medical devices.


• February 2021: Galderma received the U.S. FDA approval for Restylane Defyne, which will be used for chin augmentation.


• December 2020: Ajinomoto Bio-Pharma Services and Revance Therapeutics announced a manufacturing agreement to supply DaxibotulinumtoxinA for Injection.

REPORT COVERAGE

The report provides a detailed market analysis. It focuses on key aspects, such as the overview of facial injection procedures by type, key countries, pricing analysis, key industry developments (mergers, acquisitions, and partnerships), and major market trends. In addition, it offers an overview of new product launches in the market. Besides this, the report offers insights into the strategies used by key market players to expand their business operations. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.

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Report Scope & Segmentation