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Middle East Dermal Fillers Market Overview
The Middle East dermal fillers market is estimated to be valued at $34.3 million in 2017 and is projected for CAGR of 11.9% during the forecast period. Growing aging population, increasing awareness about age related skin problems, thriving medical tourism industry, and increase in disposable income are driving the growth of the dermal fillers market.
MIDDLE EAST DERMAL FILLERS MARKET, BY APPLICATION, $M (2013-2023)
On the basis of type of dermal fillers, the market is categorized into hyaluronic acid-based, hydroxylapatite-based, synthetic polymer-based, and collagen-based fillers. The market of collagen-based fillers in the Middle East is expected to decline during the forecast period at a CAGR of -9.8%, due to allergic reactions, hay fever, eczema and other problems associated with its usage. Hyaluronic acid-based fillers are the most commonly used dermal filler type in the region due to their ability to attract water molecules and aid in hydration.
Of all applications of dermal fillers, the fastest growth during the forecast period will be witnessed by the facial line correction, attributable to the fact that this procedure removes facial wrinkles and skin folds better than other procedures; thus, seeing increasing demand from the aged population. On the basis of end user, the dermal fillers industry is categorized into dermatology clinics, hospitals, and others, where dermatology clinics account for the largest demand for tissue fillers in the Middle East.
In the Middle East, the dermal fillers market in U.A.E. is expected to witness the fastest growth during the forecast period due to booming cosmetic and plastic surgery treatments in the U.A.E and the increasing population base in the country.
Middle East Dermal Fillers Market Dynamics
The trends observed in the Middle East dermal fillers market are increasing demand for lip augmentation procedures, shift in preference for minimally invasive cosmetic surgeries, and growing product launches in the Middle East.
For lip augmentation, hyaluronic acid-based lip fillers are used, which is a clear and biodegradable substance, normally produced by human body. Further, it has been also observed that in order to have perfect lips, people worldwide prefer to travel to countries in Latin America as well as the Middle East, due to the availability of low cost plastic surgeries and best plastic surgeons in these regions.
The factors driving the growth of the dermal fillers market in the Middle East are increasing prevalence of skin problems, growing aging population, rise in the number of various anti-aging conferences, thriving medical tourism industry, increase in disposable income, and increasing awareness among people for scar treatment. The Middle Eastern countries, especially the U.A.E., sees a very hot and sunny climate throughout the year, leading to various skin disorders such as sun burn, summer rash, summer acne, and dry skin. These conditions require use of tissue fillers for their treatment leading to growth of regional market.
Aging population plays a major role in the growth of the dermal fillers market. Old age is associated with loss of fibrous tissue, and reduction in vascular and glandular tissues in the various layers of skin. According to the United Nations Department of Economic and Social Affairs (UNDESA), the proportion of people in Saudi Arabia aged 60 years and above is predicted to be 25% of the total population by the end of 2050. This would further boost the demand for dermal fillers and eventually result in the expansion of the market size in the Middle East.
Middle East Dermal Fillers Market Competitive Landscape
The players in the Middle East dermal fillers market are collaborating with other players as well as acquiring other players to expand their product portfolio and launch new products in the market. For instance, In February 2017, Allergan plc announced the acquisition of LifeCell Corporation, a regenerative medicine company, for approximately $2.9 billion in cash. The acquisition adds LifeCell's regenerative medicines business, that includes a portfolio of dermal matrix products to Allergan's portfolio of medical aesthetic products, breast implants, and tissue expanders.
Some of the other key players operating in the dermal fillers industry in the Middle East are Merz Pharma GmbH & Co. KGaA, Galderma S.A, Sinclair Pharma plc, and Teoxane Laboratories.