Rising beauty consciousness among consumers and a shift in preference from invasive to minimally or non-invasive procedures are driving the demand for facial aesthetic procedures, according to the Global Facial Aesthetics Market 2016-2020 report by Technavio.
Botox dominates the facial aesthetics market and accounts for approximately 52% of the total market share, says research firm Technavio, fuelled by a shift in cultural thinking, high spending capacity, and increased brand popularity. With an increasing number of women considering minimally invasive procedures as a viable option, demand for botox will continue through to 2020, Technavio says. Dermal fillers are the second-common non-invasive rejuvenation procedure.
“The facial aesthetics market is undergoing various technological advancements in terms of products and the materials used. Therefore, vendors have come up with advanced collagen-based materials such as bovine collagen and bioengineered human collagen, which reduces the risk of bruising. They are also launching products that can be used on the face, hands, and other parts of the body. For instance, Radiesse has recently received FDA approval for hand augmentation to correct volume loss in the dorsum of the hands. The increase in beauty consciousness among consumers has resulted in the surged adoption of facial aesthetic products, which in turn will accelerate the growth of this market during the forecast period,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
Technavio further noted that India, Vietnam, Indonesia, and Malaysia offer particularly lucrative market opportunities.