Global Dermal Fillers Market valued at $2.8 billion in 2021, is set to witness a lucrative growth rate of 10% by 2026

Dermal fillers are gel-like substances that are injected below the skin to restore lost volume, smooth lines and soften creases, and enhance facial contours.

Covid-19, Financial Bottlenecks, 'Zoom Boom‘ and Rebound of the Dermal Fillers Market

Covid-19 pandemic has adversely impacted the dermal fillers market globally and as a result, several aesthetic service providers were compelled to change their methods of delivery. Facial aesthetics clinics were not allowed to operate, and people were not allowed to visit them. With businesses completely shut down for a period, the aesthetic industry witnessed a financial hit. These disruptions encouraged several suppliers to advance their businesses to online platforms and ordering systems.

However, despite the Covid-19 pandemic, the aesthetic industry is now on the recovery path. Since early 2020, aesthetics clinics worldwide have witnessed an overwhelming spike in bookings for cosmetic enhancements due to Covid-19 & the ‘Zoom Effect. It's been dubbed the "Zoom Boom" in the sector 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.              

Regulation of Dermal Fillers Likely to Become Stricter in the European Union (EU) With the Introduction of New Medical Device Regulation (MDR)

Within the EU, medical devices used to be regulated through the Medical Devices Directive (MDD), which required all medical devices to have a CE certification. This did not include dermal fillers.

However, from May 2021, the MDD has been replaced by MDR which classifies dermal fillers as Class III medical devices. With the introduction of new MDR, manufacturers need to comply with the MDR requirements. If manufacturers fail to comply with the MDR requirements, they will be unable to market their products within the EU.

“The EU move to MDR is likely to create entry barriers. Smaller manufacturers who cannot support their products with clinical studies will be driven out.” - Head of Aesthetics Division, Leading Aesthetic Product Manufacturer, UK

Organic and Inorganic Growth Strategies Adopted by Leading Market Players

The global dermal fillers market is marked by the presence of both established and new players. Players operating in the market have adopted both organic and inorganic growth strategies such as new product launches, and partnerships to garner higher market share.

The dermal fillers market is set to witness double-digit growth in the upcoming years due to the rising prominence of digitalization, automation tools, and data-driven solutions that utilize predictive analytics, Artificial Intelligence, and Machine Learning.

Competitive Landscape Analysis: Global Dermal Fillers Market

The global dermal fillers market is marked by the presence of key market players such as Allergan (Part of AbbVie), Galderma, Merz Pharma, Teoxane, Sinclair, Revance Therapeutics, Prollenium Medical Technologies, Bioxis Pharmaceuticals, among others.

Get Customized Research Report on Global Dermal Fillers Market @ https://meditechinsights.com/dermal-fillers-market/

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