Latest Trends in Global Facial Rejuvenation Market
A report from Persistence Market Research states that the global facial rejuvenation market is set to grow to 25 billion euros by 2021, with the injectables segment accounting for 37% or 9.25 billion euros. This would represent a punchy growth of 7 billion euros since 2014. [Note: These figures include topical facial rejuvenation products]
"Growth in the facial rejuvenation market is mainly driven by healthy economic growth witnessed in most countries, leading to rising in disposable income levels and lifestyle changes. These often lead to early onset of ageing, thus increasing demand for less painful rejuvenation treatment procedures and quicker results to remain youthful. However, lack of properly trained professionals and limited documented evidence of clinical effectiveness, are factors expected to restrain the growth of the market.
International regulatory harmonization, spanning regions, is set to define the basis for establishing product efficacies, reducing complexity.
In terms of value, the global facial rejuvenation market is estimated to expand from a value of US$ 18 Bn in 2014 to a value of US$ 26.5 Bn by 2021 end at a CAGR of 4.9% during the forecast period.
Based on product type, the market has been segmented into topical products, botulinum, dermal fillers, chemical peels, microabrasion equipment and laser surfacing treatments. In terms of value, the botulinum product type is estimated to account for ~37% share of the global market by 2021 end, remaining dominant and the most attractive segment." (www.medgadget.com)
The trend of people choosing non-invasive cosmetic procedures continues to grow exponentially. In tandem with this is the development of "topical neurotoxins". Trials have been taking place in the US to test the safety and efficacy of topical applications of a botilinum gel to the skin to treat crows feet. This is a potentially exciting development - not just for those with a fear of needles!
Those born between 1980 and 1994 represent a major target age group for manufacturers and providers of facial rejuvenation products and treatments, given the desire from this group to take preventative anti-ageing measures, as opposed to attempting to reverse the signs of ageing.
We continue to watch this space!