New York:, Jan. 08, 2016 (GLOBE NEWSWIRE) -- According to the latest market report published by Persistence Market Research, titled ‘ Global Market Study on Facial Rejuvenation: Early onset of Ageing and Rising Adoption of minimally Invasive Procedures to Drive the Market , the global facial rejuvenation market is expected to expand at a CAGR of 4.9% during the forecast period 2015-2021.
The market is segmented based on product type, end-user type, and region. On the basis of product type, the overall market has been segmented into topical products (sunscreens, moisturizers, keratolytic, retinoids, and hair removal creams), botulinum, dermal fillers, chemical peels, microabrasion equipment, and equipment-based treatments such as laser resurfacing and ultrasounds. On the basis of end-user, the market has been segmented into hospitals and dermatology clinics, which include private offices held by leading dermatologists. By product type, the botulinum products are expected to remain the largest segment, registering highest CAGR of 7% in terms of value, over the forecast period.
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The longer effectiveness of the treatment and easier availability is expected to contribute to its growing popularity. The botulinum product type segment is expected to reach a market value of US$ 9,796.9 Mn by the end of the forecast period. The product is also expected to emerge as the most preferred treatment type for both patients and physicians, globally, over the forecast period. The second most popular treatment choice is dermal fillers containing hyaluronic acid.
On the basis of the end user segment type, the market has been segmented into hospitals and dermatology clinics. Currently, clinics are more preferred to hospitals by patients globally.
On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia-Pacific, and the MEA.
Early onset of ageing and rising adoption of lesser painful minimally invasive or non-surgical rejuvenation procedures are major factors driving the growth of the global facial rejuvenation market currently. Other trends driving the market growth include easier access to treatments, rising affordability, increasing awareness about more innovative and less painful procedures, deeper penetration of beauty products in the local markets, and demand for quicker results and shorter treatment duration by patients. However, the market is expected to witness regulatory overhaul with an increase in procedure and product standardization during the forecast period (2015–2021).
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The absence of standardized regulations is leading to an influx of many local players in both the developed and emerging regions. Furthermore, lack of documented and approved product efficacy is also hampering the growth of this market. Major players dominate the market in developed regions currently. Local players offer similar local products at 20% – 30% price discounts compared to that offered by renowned and established companies in North America and Europe. This leads to unhealthy competition and could also hamper patient safety.
By region, North America is estimated to dominate the facial rejuvenation market with the maximum value share of the overall market by the end of 2015. By 2021, North America and Europe markets are expected to account for over three-fifth share of the global facial rejuvenation market revenue. In terms of value, North America is estimated to be the dominant market, registering a CAGR of 7.4% over the forecast period.
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Some key companies covered in this report include Merz GmbH & Co. KGaA, LUMENIS, Revance Therapeutics, Inc., Biopolymer GmbH &Co KG, Speciality European Pharma, Mentor Worldwide LLC, Anika Therapeutics, Inc., Contura International A/S, Cynosure, Inc., Fibrocell, Inc., and Gal derma S/A.
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