The Global Facial Rejuvenation Market was estimated at USD 36.7 Billion in 2018, and it is projected to grow at a CAGR of 4.3% over the projected period. Worldwide, billions of dollars are spent on products and services for facial rejuvenation per year. Facial rejuvenation refers to a combination of surgical treatments undertaken to preserve the youthful look by restoring skin elasticity. Techniques for facial rejuvenation may be either surgical or non-surgical procedures.
The growth of the global facial rejuvenation market over the projected period can be attributed to factors such as early onset of ageing and rising geriatric population across the globe. For example, the World Health Organization (WHO) has reported that the global geriatric population is projected to exceed 2 billion by 2050 from 900 million in 2015. Thus, the rising geriatric population will translate into increasing demand for facial rejuvenation procedures, thereby boosting the global market.
It is also anticipated that the high penetration of innovative facial rejuvenation products and a rising number of non-surgical cosmetic procedures will fuel market demand in the coming days. For instance, InMode MD Ltd. will undertake a clinical trial using its InMode AccuTite for energy-based lower eyelid rejuvenation in 2021. Such innovations will further drive the growth of the global facial rejuvenation market.
In the last 10 years, care opportunities for facial rejuvenation using dermatological and nonsurgical procedures have improved significantly. With more doctors interested in delivering care to meet the growing demand, the general appetite for non-invasive therapies has altered the market beyond recognition.
Increasing product advertisements in newspapers, TV shows, and radios, and celebrity promotion and peer pressure to look presentable are driving the growth of the facial rejuvenation market. There are several sociological and psychological variables influencing individual decisions in this regard. For example, increasing rates of separation, and employment and career opportunities all have a big impact on an individual.
People have associated aesthetic beauty with success and confidence in the competitive world. As a result, both women and men are constantly looking for different products and treatment options to look young and healthy. All these factors, along with the increasing demand for cosmetic surgeries and the influence of the Internet, are driving the industry forward.
Global Facial Rejuvenation Market, By Type
Based on type, the global facial rejuvenation market segmentation includes topical products, dermal fillers, microabrasion equipment, botulinum, chemical peels, and equipment-based treatments. There is a strong demand for type-A botulinum neurotoxin to minimize wrinkles in the upper-third part of the face (triangle region). There are only a few big producers of botulinum products. Therefore, in order to resolve its shortage, main players in the industry are concentrating on producing botulinum products. All these factors are contributing to the growth of this segment.
Global Facial Rejuvenation Market, By End-User
Based on the end-user, the global facial rejuvenation market is segmented into dermatology clinics and hospitals. The dermatology clinic segment is expected to witness significant growth in the coming years. Increasing demand for treatment for lines, freckles, wrinkles, facial conditions, scars and wounds, and pigmentation is going to drive the growth of this segment.
Surgical and/or non-surgical facial rejuvenation procedures will also propel the growth of the dermatology clinics segment. In the projected time, the rise of cosmetic surgery due to the early onset of ageing and the rising geriatric population is expected to fuel the growth of this segment.
Global Facial Rejuvenation Market, By Regions
The global demand for facial rejuvenation in 2018 was dominated by North America. The growth of this region is mainly because of the changing lifestyle of the population, increasing investment on beauty products and cosmetics, and influence of advertising and media networks in countries such as the United States and Canada. It is expected that the demand in Europe and Latin America will expand radically due to the increasing disposable income, combined with the adoption of the cutting-edge medical technology. In Asia-Pacific, the global facial rejuvenation market is expected to see a rapid expansion due to the increasing awareness about skin problems.
Key Developments in Global Facial Rejuvenation
Some Key Findings of the Global Facial Rejuvenation Market Report Include:
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Market recommendations supporting decision making processes
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