TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the North American facial Injectables market, comprising botulinum toxin (BTX) and dermal fillers sold in the United States and Canada, will continue to show strong growth for the next five years, reaching a total value of more than $1.7 billion by 2017.
Facial injectable procedures continue to grow in acceptance among the general population, increasing the patient base. In addition, various physician types, including family practitioners, dentists, gynecologists, emergency physicians, neurosurgeons, and ear-nose-and-throat specialists, have found that the high return on investment for these procedures combined with the ease of administration and low capital costs make them a profitable adjunct to their practices’ other business. As a result, patients who would not have made an appointment to see a dermatologist or plastic surgeon can receive these products at an office they already visit.
This market is largely driven by growth in the BTX segment, which accounts for more than half of the market. Allergan has been the dominant player, but competitors drawn by potential revenues are entering both the US and Canadian markets. In particular, Merz Pharma entered the US market briefly in early 2012 before being placed under an injunction preventing the sales of their dermal fillers and BTX product in the US until 2013. When they re-enter, increased priced competition will decrease profit margins.
“The dermal filler segment is much more diverse than BTX, with many more competitors, particularly in the Canadian market,” said MRG Analyst Kristina Vidug. “It’s substantially harder to get Food and Drug Administration (FDA) approval than it is to get approval from Health Canada. Companies such as Mentor (acquired by Johnson & Johnson in January 2009), Contura, and Prollenium Medical Technologies are all expected to launch products in this segment by 2017, intensifying competition.”
Competitors in the dermal filler market will also face increasing competition from new types of filler products, such as new collagen, blood, adipose, and other dermal fillers, which could lead to increased marketing efforts on the part of manufacturers in an attempt to differentiate their products from new types of fillers.
Millennium Research Group’s North American Markets for Facial Injectables 2013 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for botulinum (BTX) and dermal fillers sold in the United States and Canada.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
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