Waltham, Mass. — The $1.2 billion global facial injectables market declined by almost 5 percent over 2008 as patients chose to delay or forego treatment as a result of the economic crisis, according to statistics from medical technology consultant Millennium Research Group.
However, MRG expects recovery to begin in 2010, and by 2014, the market to return to its pre-recession growth rate of more than 15 percent, PRNewswire reports.
The MRG report notes that to combat financial pressures and bolster share in advance of economic recovery, some firms planning to enter the U.S. market won Food and Drug Administration approval and launched new products in 2009 in hopes of stimulating interest among physicians and patients.
In the United States, Dysport (abobotulinumtoxinA, Ipsen/Medicis) was released and Sculptra Aesthetic (poly-L-lactic acid, Sanofi-Aventis) was approved. In the European market, Ipsen and Galderma launched Azzalure (botulinum toxin A), a version of Dysport rebranded for aesthetic use in Europe.
MRG says that though these competitors launched their products during difficult financial times, the interest stimulated will carry through into recovery, positioning the firms favorably in the market.
