Medical Aesthetics Market Analysis
The medical aesthetics market is anticipated to expand at an 11.0% CAGR between 2018-2023, states the latest Market Research Future (MRFR) report. Medical aesthetics, simply put, is an area of medicine that deals with the outer appearance, well-being, aesthetics, image, and noticeable skin changes of the patient. It includes advanced technologies and products that aesthetic specialists or skilled medical professionals use to improve the patient’s physical appearance.
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Various factors are propelling the medical aesthetics market growth. Such factors, as per the latest Market Research Future report, include the growing demand for cosmetic procedures, the rising influence of social media, increasing technological advancements, growing medical tourism, increasing adoption of non-invasive and minimally invasive aesthetic procedures, and demand for anti-aging products.
On the flip side, societal hindrances and stigmas, lack of reimbursements, high cost of treatment, and risk and complications related to the procedure may deter the medical aesthetics market growth during the forecast period.
Medical Aesthetics Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the medical aesthetics market on the basis of product and end users.
By product, the global medical aesthetics market is segmented into nail treatment laser devices, thread lift products, tattoo removal devices, hair removal devices, physician-dispensed eyelash products, aesthetic skin devices, physician-dispensed cosmeceuticals and skin lighteners, cosmetic implants, body contouring devices, and facial aesthetic products. The facial aesthetic products segment is again segmented into microdermabrasion devices, chemical peels, dermal fillers, and botulinum toxin. The dermal fillers segment is again segmented into synthetic and natural dermal fillers. The body contouring devices segment is again segmented into liposuction devices, cellulite reduction devices, and non-surgical fat reduction devices. The cosmetic implants segment is again segmented into facial implants, breast implants, and other cosmetic implants. The breast implants market is again segmented into saline breast implants and silicone breast implants. The hair removal devices market is again segmented into IPL hair removal devices and laser hair removal devices. The aesthetic skin devices market is again segmented into light therapy devices, micro-needling products, non-surgical skin tightening devices, and laser skin resurfacing devices. Of these, facial aesthetic products will lead the market during the forecast period.
By end users, the medical aesthetics market is segmented into home care settings, beauty centers, medical spas, hospitals, and clinics. Of this, hospitals will dominate the market during the forecast period.
Medical Aesthetics Market Regional Analysis
By region, the medical aesthetics market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific, and the Middle East and Africa. Of these, North America will dominate the market during the forecast period. Factors aiding the growth of the medical aesthetics market in the region include the early adoption of latest medical technologies, growing medical tourism, increasing health awareness, increasing demand for quality healthcare, increasing incidence of skin diseases in the region, and presence of well-established healthcare infrastructure.
The medical aesthetics market in Europe is predicted to have the second-largest share in the market during the forecast period. Factors aiding the growth of the medical aesthetics market in the region include the need for effective and innovative therapies, decline in human health, technological advancements, increase in research expenses, growing elderly population, changing lifestyle, and rising patient population.
The medical aesthetics market in the APAC region is predicted to experience faster growth during the forecast period. Factors aiding the growth of the medical aesthetics market in the region include rising healthcare expenditure, advanced technology, better adoption rate, rising government initiatives, and access to advanced treatment facilities. India, as well as China, are the chief contributors in the region.
The medical aesthetics market in the MEA is predicted to have a small share during the forecast period due to low per capita income and strict government policies.
Medical Aesthetics Market Key Players
Notable players profiled in the medical aesthetics market report include Syneron Medical, Ltd. (A Part of Apax Partners), Solta Medical (A Division of Valeant Pharmaceuticals International, Inc.), Sinclair Pharma PLC, Sientra, Inc., Medytox, Inc., Merz Aesthetics, Inc. (A Division of Merz Pharma GmbH & Co. KGaA), Johnson & Johnson, Galderma (A Subsidiary of Nestlé), Fotona D.O.O., El.En. S.P.A., Cutera, Inc., Cynosure (A Wholly Owned Subsidiary of Hologic, Inc.), Anika Therapeutics, Inc., Alma Lasers, Ltd., and Allergan.
October 2019: Leading provider of non-invasive and advanced body contouring treatments in New York, Semblance Medspa has expanded its service offerings with the skin tightening device- Exilis Ultra 360 for the body and skin. This is the foremost device that will combine ultrasound and radiofrequency energy for excellent skin tightening benefits.
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