COLLAGEN FILLER MARKET ANALYSIS
Collagen Filler Market, by Product Type (Collagen with PMMA and Collagen without PMMA), by Source (Bovine, Porcine, and Others), by Application (Face Rejuvenation, Wrinkles, Scar Treatment, Lip Treatment, Cellulite Reduction, and Others), By End User (Hospitals, Dermatology Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Collagen fillers are dermal fillers used in skin surgery to reduce skin wrinkles, improve appearance of scars, and to eliminate lumps formed in lips. Collagen fillers are also called fat injectable fillers/soft tissue augmentation. Collagen fillers are used in plastic cosmetic surgery by injecting collagen into the skin in order to fill up the area being treated in patients. Dermal fillers such as collagen fillers have temporary cosmetic effect as they contain materials such as collagen which is absorbed by the body in a particular interval of time.
The global collagen filler market is estimated to be valued at US$ 393.8 million in 2020 and is expected to exhibit a CAGR of 7.4% during the forecast period (2020-2027).
Figure 1. Global Collagen Filler Market Value (US$ Mn), 2016-2027
The increasing demand for cosmetic procedures such as smile correction and lip treatments across the globe is driving growth of the global collagen filler market. According to the International Society of Aesthetic Plastic Surgery’s 2018 report, around 23,266,374 cosmetic procedures, including smile line corrections, lip treatments, scar treatment and face lift procedures, were carried out in 2018. Moreover, according to same source, there was 15% of increase in cosmetic procedures across the globe in the last four years.
Furthermore, initiatives and guidelines imposed by various national regulating bodies are also driving growth of the global collagen filler market. For instance, in February 2020, the Australian Health Practitioner Regulation Agency published guidelines for individuals undergoing cosmetic surgeries which are as follows: cosmetic procedures should only carried out by the registered health practitioner in Australia, individuals should know the treatments and should ask details about the procedures before they are conducted, individuals should know which medical devices or products are used in cosmetic procedures, and health practitioners should take informed consent of individuals before conducting the cosmetic procedures.
Global Collagen Filler Market – Impact of Coronavirus (COVID-19)
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in more than 33.1 million infected individuals worldwide as of 28 September 2020.
Furthermore, due to COVID-19 pandemic, cosmetic surgery governing authorities implemented new set of guidelines for carrying out cosmetic procedures. For instance, in May 2002, according to the American Society of Plastic Surgeons, health practitioners should strictly avoid in-office visits and should follow virtual consultations, carry out regular COVID-19 testing of the staff in hospitals as well as regular temperature checks, follow social distancing guidelines in hospitals, mandate use of personal protection equipment for health practitioners while checking patients, implement sanitization of floors, desk and doors in hospitals, eliminate the patient waiting areas in hospitals whenever possible amid the COVID-19 pandemic to avoid the spread of coronavirus infection.
Figure 2. Global Collagen Filler Market, By Share (%), By Region, 2020
In North America, key companies are focusing on strategic collaborations and partnerships to expand the use of dermal fillers for cosmetic procedures which is expected to drive the market growth in this region. For instance, in May 2020, Sinclair Pharma, a company operating in medical aesthetics, collaborated with Suneva Medical Inc., company focused on developing, manufacturing and commercializing novel, differentiated regenerative products in U.S. The collaboration will lead to expand the Sunneva Medical Inc., aesthetic portfolio and help in strengthening its market positioning.
In Europe, the collagen filler market is expected to exhibit significant growth during the forecast period owing to increasing focus of companies on obtaining product approvals to strengthen their position in the global collagen filler market. For instance, in January 2018, Sinclair Pharma, a medical aesthetic company, received sales approval for the collagen filler, Ellanse, in Brazil from the Brazil's National Sanitary Surveillance Agency, ANVISA.
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Key Players
Major players operating in the global collagen filler market are Allergan, Inc., Johnson & Johnson, Collplant Holdings Ltd, Ortho Dermatologics, Inc., Suneva Medical, Inc., Merz Pharma GmbH & Co. KGaA, Surgical Specialties Corporation, Sinclair Pharma, Inamed GmbH, and Endo International plc.
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