WALTHAM, Mass., Nov. 30 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the nearly $1.2 billion global facial injectable market declined by almost 5% over 2008 as patients chose to delay or forego treatment as a result of the economic crisis. The market will, however, begin recovery in 2010, and by 2014, will return to the strong pre-recession growth rates of over 15%. MRG's facial injectable series, which includes separate reports on North America, Europe, Asia Pacific, and Latin America, finds that many manufacturers are refining marketing strategies and strengthening product portfolios in order to establish optimal market position in the coming years.
To combat financial pressures and bolster share in advance of economic recovery, some firms that had longstanding plans to enter the US market were granted FDA approval and launched new products in 2009 in hopes of stimulating interest and adoption amongst new practitioners and patients. In the US, notable releases included the highly anticipated Dysport by Ipsen and Medicis Pharmaceutical, and the approval of Sculptra Aesthetic by sanofi-aventis. In the European facial injectable market, Ipsen and Galderma launched Azzalure, a version of Dysport that is rebranded for aesthetic use in Europe. Although these competitors launched their products during difficult financial times, the interest stimulated through these launches will carry through into recovery, positioning the firms favorably for improved cosmetic procedure volumes.
"The launch of these new products has generated a lot of media attention, owing in part to the extensive marketing campaigns and promotional activities that manufacturers are engaging in," says Lisa Shantz, Analyst at MRG. "Although these newly-introduced products will have a greater impact when the market begins to recover in 2010, many physicians and patients are now much more aware of the different types and brands of products at their disposal. As new manufacturers continue to enter the market, competitive pricing pressures will make treatments increasingly affordable for patients, spurring procedure volume growth."
MRG's global facial injectable series examines how the botulinum toxin, hyaluronic acid dermal filler, particle and polymer filler, and collagen filler markets were affected by the recession and just how quickly they will return to healthier growth rates. Each report includes detailed, segmented analyses of procedures by product type, unit sales, average selling prices, market revenues, and competitor shares. The North American facial injectable report also segments injections by the area of the face in which the products are injected.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the health care sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the health care industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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SOURCE Millennium Research Group
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