Author(s):
Edward Park
Sana Siddiqui
Introduction:
The European facial injectable market, consisting of botulinum toxin (BTX), hyaluronic acid (HA) dermal fillers, particle and polymer fillers (PPFs), and collagen fillers, declined substantially in 2009 due to the global recession, with tightened budgets and limited spending on elective cosmetic procedures significantly curbing patient demand. Upon economic recovery, market growth will resume as disposable incomes increase and interest among European consumers for antiaging treatments climbs. Expansion will also be driven by demand from a broadening patient demographic as younger women in Europe—as well as more men—pursue facial injectable treatments as a preventative measure against symptoms of aging. This market will, however, be limited by the high cost of these procedures, which will inhibit demand from patients with lower incomes. Increasing competition will also drive vendors to reduce prices in order to sustain sales. While this decline in average selling prices (ASPs) will not be significant enough to generate notable demand from low-income patients, it will limit overall revenues to some extent. Nevertheless, the value of the market will gradually return to prerecession levels over the forecast period.
Questions Answered in This Report:
* Both Ipsen and Merz Pharmaceuticals obtained cosmetic approval for their botulinum toxin, serotype A (BTX-A) products in Europe in 2009. Ipsen's Dysport was rebranded as Azzalure and is approved in the UK, France, Germany, and Spain. Approval in Italy is expected in the early part of the forecast period. Merz Pharmaceuticals' Bocouture was approved in late 2009 in Germany and is expected to obtain approval in the remaining European countries over the forecast period.
In light of the impact of the economic recession, how did the launch of these two new BTX-A products affect market growth in 2009? How will this impact Allergan's share of the BTX-A market across Europe? With more price competition, are ASPs expected to decline through 2014? * Allergan closed its collagen filler manufacturing facility in the fourth quarter of 2008, and Johnson & Johnson announced in November 2009 that it will be closing down ColBar LifeScience and discontinuing any active marketing or production of the EVOLENCE collagen filler product.
What does this mean for the collagen dermal filler market in Europe going forward? Are any new competitors expected to enter this market? How will this benefit the HA dermal filler and PPF markets in the countries covered? * Several new products are expected to enter the European facial injectable market through 2014.
What product segments will these new products enter? How will this affect the growth of those product segments? How will overall market ASPs be impacted? * Of the countries covered, the Spanish facial injectable market was hit the hardest by the global economic recession in 2009.
Why was Spain the most severaly affected country? How did the other facial injectable markets across Europe fare? Will facial injectable markets across the European countries discussed resume positive growth in 2010?Scope:
Regions covered: France, Germany, Italy, Spain, and the UK
Segmentation: Our analysis uses the following segmentation of the market:
- BTX
- HA dermal fillers
- PPFs
- Collagen fillers
Market forecast features: Based on primary research with industry professionals, we use our proprietary forecasting model to provide an in-depth examination of current and future trends in procedure volumes, unit sales, ASPs, and market values over a 7-year period (2008–2014).
Competitive analysis: We provide a detailed analysis of the competitive landscape in the market, as well as market shares and qualitative discussions of the leading competitors in the overall European facial injectable market and for each product segment.