Dermal fillers are gel-like substances which are injected below the skin to restore lost volume, smooth lines and soften creases, and enhance facial contours.
Covid-19, Financial Bottlenecks, ‘Zoom Boomâ€˜ Effect and Rebound of the Dermal Fillers Market
Covid-19 pandemic has adversely impacted the global dermal fillers market and hence, several aesthetic service providers were compelled to change their delivery methods. Facial aesthetics clinics were not allowed to operate during the Covid pandemic, and neither people were allowed to visit them. With businesses completely shut down, the aesthetic industry suffered a financial hit. These disruptions encouraged several industry suppliers to advance their businesses to online platforms and ordering systems.
However, despite the Covid-19 pandemic, the aesthetic market is now on the recovery path. Since early 2020, aesthetics clinics across the world have witnessed a growth spike in bookings for cosmetic enhancements due to Covid-19 & the â€˜Zoom Effect. It’s been dubbed the “Zoom Boom” because people are using video calls more for work and socializing and hence have become more conscious of their appearance after seeing their faces (facial expressions & wrinkles) on video calls every day on Zoom. Plastic surgeons across the globe reported an exponential rise in consultation requests for demand fillers since 2020.
Efficient Growth Strategies Adopted by Key Market Players to Establish Their Foothold in Dermal Fillers Market
The global dermal fillers market is marked by the presence of both established and new industry players. Major players operating in the dermal fillers market adopt both organic and inorganic growth strategies such as new product launches, and partnerships to garner higher market share. For instance,
â€¢ In December 2021, Revanceâ€™s partner, Teoxane SA, received U.S. FDA approval for RHAÂ® Redensityâ€™s first indication, which is for the treatment of moderate to severe dynamic perioral rhytids (lip lines) in adults aged 22 or older. RHAÂ® Redensity bolsters the versatility of the RHAÂ® Collection of dermal fillers.
The dermal fillers market is set to witness double-digit growth in the upcoming years due to the emergence of digitalization, automation tools, and data-driven solutions that utilize predictive analytics, AI, and ML.
Competitive Landscape Analysis: Global Dermal Fillers Market
The global dermal fillers market is marked by the presence of major industry players such as Allergan (Part of AbbVie), Galderma, Merz Pharma, Teoxane, Sinclair, Revance Therapeutics, Prollenium Medical Technologies, Bioxis Pharmaceuticals, among others.
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