NEW YORK, November 28, 2018
NEW YORK, November 28, 2018 /PRNewswire/ --
Celebrity Endorsements to Elevate Use of Botox Treatments Among the General Population
Globally, the market for facial injectable is witnessing a sudden boom, given the massive leverage by celebrities to enhance their facial skin using non-surgical alternatives. The growing global obsession over elimination of dark circles, uplifting of eyebrows, enhancement of cheekbones, reduction of wrinkles, and overall smoothening of facial skin is pushing revenues in the global market for facial injectable. A recent study conducted by experts at premier market research firm Persistence Market Research on the facial injectable market reveals the following interesting insights:
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Market for Botox to Expand Significantly in the Asia Pacific Region
Consumers in countries of the Asia Pacific seem to be exhibiting a unanimous preference for botulinum toxin, given the high demand generation from the region. Among the few companies in the facial injectable market engaged in the production of botulinum toxin, three key manufacturers are based in Korea to cater to the burgeoning demand from the Asia Pacific market. Additionally, a slew of facial injectable products manufactured by local unauthorized companies are also widely sold in the Asia Pacific market, indicating the growing number of treatments incorporating facial injectable products.
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"To gain an edge over competition and to expand into top international markets, key players in the Asia Pacific facial injectable market are collaborating and partnering with other players to strengthen their regional and subsequently global manufacturing and distribution network of facial injectable products, particularly botulinum toxin." -- Practice Head - Medical Devices, Persistence Market Research
Analysts at Persistence Market Research have forecasted a significant absolute dollar opportunity for the global facial injectable market at US$ 279.6 Mn in 2019 over 2018 and a 10-year incremental opportunity of US$ 3516.09 Mn between 2018 and 2028. With global revenues pegged at US$ 6,131.6 Mn by 2018 end, the facial injectable market is projected to register Y-o-Y growth of 2.3% between 2018 and 2019.
This comprehensive Persistence Market Research study on the global facial injectable market throws light on the critical market revenue pull factors, threatening widespread adoption of facial injectable treatments and products.
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High procedural costs to negatively impact revenue. Facial injectable treatments are expensive with physician/surgeon costs almost half the cost of the actual treatment. Further, these treatments typically require multiple sessions to obtain the desired results. This adds up the cost factor to a significant extent. As such, facial injectable treatments are not affordable by all classes of the population. This is a primary revenue restraint in the global market for facial injectable.
Side effects of facial injectable treatments to pull the plug on market growth. Treatments involving Botox and dermal fillers lead to certain adverse side effects such as redness and bruising of the skin, allergic reactions, and a certain level of discomfort associated with the treatment. This is a major revenue dampener in the facial injectable market, with people shying away from expensive Botox treatments for fear of adverse reactions.
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Other restraints negatively impacting revenue growth include the availability of cheap counterfeit facial injectable products and very low reimbursement coverage associated with facial injectable treatments.
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