Facial fillers are temporary to long-lasting solutions administered through a few tiny facial injections on specific areas of the face. Collagen fillers is a soft-tissue dermal fillers made from purified cow skin used to fill wrinkles, lines, and scars on the face.
Key Drivers and Restraints of Global Collagen Fillers Market
Increase in social awareness about personal well-being boosts the growth of cosmetic surgeries. Rise in demand for cosmetic surgeries fuel the usage of collagen fillers. The International Society of Aesthetic Plastic Surgery published results of the annual Global Aesthetic Survey that showed a 9% overall increase in surgical and nonsurgical procedures in 2016. The U.S. was the leader, accounting for 17.9% of the procedures. The top five countries were the U.S., Brazil, Japan, Italy, and Mexico, which together accounted for 41.4% of procedures globally. Russia, India, Turkey, Germany, and France rounded out the top 10.
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Rise in disposable income is another factor driving the market. Disposable income, also known as disposable personal income (DPI), is the amount of money that households have available for spending and saving after income taxes have been accounted for. The EU 27’s gross household adjusted disposable income stood at EUR 9.781 Bn in 2018, which was equivalent to approximately three quarters (72.5%) of the value of gross domestic product (GDP). Germany accounted for the highest share of the EU 27’s gross household adjusted disposable income, 25.6% of the total, followed by France (18.7%) and Italy (14.0%). After 2013, there was an upturn in economic fortunes in both the EU 27 and the Euro area, with gross household adjusted disposable income per capita increasing in both nominal and real terms.
Harmful effects of certain products and usage is likely to hamper market growth. In any cosmetic procedure, there could be possible side effects. These include skin redness, skin discomfort, including swelling, bleeding, and bruising, infection at the injection site, skin rash with itching, possible scarring, lumps, wound on the face if the injection penetrates too deeply into a blood vessel, and blindness if the injection is too close to the eyes.
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Bovine Segment to Dominate Global Collagen Fillers Market
In terms of source type, the global collagen fillers market can be classified into bovine, porcine, and others
The bovine segment dominated the market in terms of revenue in 2019. Bovine collagen is a naturally occurring protein present in the cartilage, connective tissues, bones, and hides of cows. This type of collagen has properties similar to collagen present in the human body. Factors such as rapid wound healing, high patient satisfaction, and minimal or no side effects are projected to drive the bovine segment during the forecast period.
On the other hand, porcine supports connective tissues such as ligaments and tendons as well as skin, bones, muscles, and cardiovascular system. Additionally, porcine collagen could help promote more elasticity in the skin and porcine collagen dressings help heal wounds rapidly. This is anticipated to drive the segment during the forecast period.
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Scar Treatment Segment Witness Highest Growth
Based on application, the global collagen fillers market can be categorized into face rejuvenation, wrinkle, scar treatment, lip treatment, cellulite reduction, and others
The wrinkle segment dominated the global market in 2019 and the trend is expected to continue during the forecast period. Collagen fillers stimulates blood vessels to constrict and function again as they once did for a smooth, wrinkle-free skin. By stimulating collagen formation deep in the dermis, lasers improve the appearance of deep-set wrinkles, fine lines, enlarged pores, and severe acne scars.
However, the scar treatment segment is likely to expand at a higher CAGR during the forecast period. Dermal fillers exhibit highly favorable results in refining the appearance of acne scars by lifting up the indented, depressed scars. The effect is, however, not permanent to last lifelong.
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