According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, poor economic conditions will limit growth of the European facial injectables market in 2011 and 2012 down to 2.5 percent per year, but the market will rebound strongly in 2013 and onward, reaching a rate of nearly 12 percent by 2016, for a total market of $420 million.
“Dermal fillers, particularly hyaluronic acid (HA) fillers, will see the highest growth among facial injectable products”
Facial injectable procedures are increasingly becoming accepted as part of a normal beauty regimen. However, payment for these cosmetic elective procedures is out-of-pocket. As a result, procedure volumes will be limited by reduced patient disposable incomes over the next couple of years, but will rebound as the economy improves.
"Dermal fillers, particularly hyaluronic acid (HA) fillers, will see the highest growth among facial injectable products," said MRG Analyst Carmen Chan. "HA fillers are perceived as safer than other dermal fillers or botulinum toxins (BTX). Recent improvements, including the addition of lidocaine to reduce patient discomfort and the expansion of indications from the traditional wrinkle filling to volumizing through products such as JUVéDERM VOLUMA and Restylane SubQ, have increased positive perceptions among providers and patients alike."
Strong growth has attracted a number of competitors to this lucrative market, resulting in new product launches and company acquisitions. Recent product launches in the BTX market include Galderma's Azzalure and Merz Pharmaceutical's BOCOUTURE, both of which have gained considerable market share in 2011. Galderma has further acquired Q-Med, manufacturer of premium HA filler brand Restylane, while Valeant Pharmaceuticals acquired Dermik Laboratories, which manufactures aesthetic filler Sculptra, from Sanofi.
Increased media and marketing coverage have led to high general awareness of facial injectable products among patients, but companies realize that maintaining customer loyalty and differentiating their products will be essential strategies as the facial injectable market rebounds through 2016.
Millennium Research Group's European Markets for Facial Injectables 2012 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for botulinum toxin (BTX) and dermal fillers in France, Germany, Italy, Spain and the United Kingdom.
Millennium Research Group