TORONTO, The Latin American Facial Injectable Market Will More Than Double In Size Between 2012 And 2021.
According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Latin American market for facial injectables will exhibit strong growth to reach nearly $300 million by 2021. This growth will be driven by rising patient spending power and demand, increased use of combination treatments, a greater number of physicians offering facial injectable procedures and medical tourism.
The Brazilian facial injectable market remains the largest market in this region, accounting for over 50 percent of all facial injectable procedures performed in Latin America. A stronger emphasis on physical beauty combined with widespread acceptance of cosmetic surgery has led to high demand in Brazil. Combined with strong economic growth, expansion of the Brazilian market will continue to outpace growth in other Latin American countries, resulting in Brazil generating an increasingly larger percentage of total facial injectable revenues through 2021.
“However, the widespread availability of illegally manufactured products will limit the market to some extent,” said MRG Analyst Kristina Vidug. “These unapproved products may pose significant health risks, and reports of adverse events will act as a deterrent to patients seeking facial injectable treatments.”
Allergan holds the largest portion of market shares in the Latin American market due to the strength of its BOTOX Cosmetic and JUVÉDERM products, which have supported its worldwide market-leading position in the botulinum toxin (BTX) and dermal filler segments, respectively. However, its shares are relatively low compared to its percentage of the global market due to a greater number of competitors present in Latin America, including successful local competitors. For example, Metacrill’s strong relationship with local physicians has enabled it to achieve widespread adoption of its products throughout Latin America, particularly in Brazil. As a result of the popularity of its META<>CRILL dermal filler, the company led the non-hyaluronic acid dermal filler market in 2012 despite the low cost of its product.
Millennium Research Group’s Latin American Markets for Facial Injectables 2013 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for BTX and dermal fillers in Argentina, Brazil, Colombia and Mexico. Supplemental country coverage is also available for Chile, Peru and Venezuela, as well as in aggregate for the rest of the Latin American countries.
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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