North American facial injectable market estimated to be worth $5.8 billion by 2024

Transparency Market Research published a report projecting the North American facial injectable market to be worth $5.8 billion by 2024, according to a press release.

The report, “Facial Injectables Market- North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024,” estimates that the global market is expected to rise at a compound annual growth rate of 12% between 2016 and 2024.

The U.S. is expected to assume the lead in the overall market due to a high demand for botulinum toxins and dermal fillers, according to the report, which segmented the facial injectables market into the U.S. and Canada. Improving lifestyles and growing preference for minimally invasive surgeries are expected to drive demand for facial injectables across the U.S.

Four products, botulinum toxin, hyaluronic acid, collagen and particle and polymer fillers make up the market. Of these, the botulinum toxin segment held a leading share in global market in 2015 as it is predominantly used for correcting lines, creases and wrinkles. Transparency Market Research estimates botulinum toxin to exhibit a compound annual growth rate of 12.7% between 2016 and 2024.

Transparency Market Research reports possible side effects of facial injectables may challenge market growth. The possibility of allergic reaction, edema, bleeding and bruising are all expected to hamper growth of the overall market. Additionally, poor reimbursement policies associated with facial injectables are expected to curb spending on these expenditures.