Global Information Inc. presents a new market research report, "Latin American Markets for Facial Injectables 2013" by Millennium Research Group.
Cosmetics procedures are highly accepted, socially-speaking, in Latin America. The facial injectables market has displayed robust growth for many years. Patients are lured in based on the convenience, ease, and overall low-risk nature of facial injectables as opposed to cosmetic surgery. Sales for cosmetic procedures in Brazil, Argentina, and Mexico are comprised of botulinum toxin (BTV), hyaluronic acid (HA) dermal fillers, and particle and polymer fillers (PPFs).
A new report from Millennium Research Group (MRG) indicates that "the widespread availability of unapproved aesthetic facial injectable products in Latin America is affecting the competitive landscape of each segment of the overall facial injectable market differently." This new trends has minimal effects on the botulinum toxin market; however, unapproved dermal fillers are dampening prices much more dramatically, lowering the average selling prices to less than $200 per unit.
According to Sana Siddiqui, Manager of the Aesthetics division at MRG, "In the particle and polymer filler segment, off-label use and use of unregulated products is very common. During the economic recession, particle and polymer fillers that were not approved for aesthetic indications by the local regulatory body became a more popular choice among physicians because of their significantly lower price point... The popularity of these products places some price pressure on manufacturers and distributors of regulated products because they must compete with the low-cost illegal products."
Nonetheless, aesthetic facial injectable products have developed a reputation for safety, effectiveness, and convenience among Latin Americans. Manufacturers aggressively promote both the benefits and safety profiles of their products. Find out more in MRGs new report, which provides critical insight into the trends that will fuel market growth for facial injectable products through 2015.