Medical Aesthetics Market Overview
MRFR (Market Research Future) believes that the medical aesthetics market should capture a robust growth rate of 8.30% from 2020 to 2027. Also, by 2027, the global medical aesthetics market shall be valued at USD 38,850.89 Million, estimates MRFR.
Growth Boosters and Deterrents
Over the years, preference for non-invasive and minimally invaasive aesthetic procedures has heightened considerably, even traditional surgical procedures are witnessing a sharp decline among patients. Minimally invasive alternatives have to offer a great deal of benefits, especially compared to the traditional procedures, including reduced scarring, quicker recovery, and less pain. These procedures are far more cost-effective compared to the traditional ones and give a much more natural look post-surgery. The International Society of Aesthetic Plastic Surgery or ISAPS reveals that a surge of 6.5% in the number of cosmetic and plastic procedures was noted between 2018 and 2019.
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Analysts believe that emerging nations like China, Mexico, India, and Brazil are brimming with lucrative opportunities and will benefit the manufacturers active in the medical aesthetics industry. Medical aesthetic devices are experiencing a huge demand in these countries, thanks to the incredible expansion of the medical tourism sector, burgeoning elderly population, and the rise in disposable incomes. Mounting knowledge about the different aesthetic specialties, and the burgeoning pool of highly skilled surgeons in these countries also present an array of opportunities to the leading brands in the market.
Medical Aesthetics Market Segmentation
The market for medical aesthetics, with respect to product, include facial aesthetic, body contouring devices, cosmetic implants, hair removal devices, skin aesthetic devices, tattoo removal devices, and more.
The technologies considered in the MRFR report for the medical aesthetics market are non-invasive, minimally invasive along with invasive. Invasive technology is the highest growing segment in the market, as breast augmentation, liposuction, and nose reshaping garner popularity among a rising number of consumers.
Major end-users of medical aesthetics are hospitals & clinics, dermatology & cosmetic centers, and more. The dominating category belongs to hospitals & clinics, by virtue of the soaring number of patients being admitted to hospitals and clinics.
Medical Aesthetics Market Regional Insight
The main markets for medical aesthetics are Europe, the Middle East & Africa or MEA, Asia Pacific or APAC and the Americas.
America has the highest obesity rate in the world, as unhealthy lifestyle gains prevalence among the consumers. As a result, more and more people are opting for liposuction and similar procedures that could enhance their appearance in a major way, landing America in the leading position. The American market is touted to gain further traction in the forthcoming years, backed by the well-developed healthcare sector consisting of a robust infrastructure along with the disconcerting rise in various skin disorders. Also, the high popularity of various cosmetic procedures paired with the expansive pool of board-certified surgeons further add to the market worth in the region.
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The European market for medical aesthetics can be split into Western Europe as well as Eastern Europe. The market in Western Europe is thriving as a result of the presence of developed economies such as Germany, France, the UK, Spain, and Italy, all housing well-defined healthcare systems. These countries are performing remarkably well due to the supportive government, exhaustive research & development activities, and the constant adoption of the business expansion strategy by leading companies.
The APAC medical aesthetics industry is exhibiting rapid growth, backed by the fast-developing countries like Japan, India, Australia, South Korea, and China. The region is bound to witness the fastest growth in subsequent years, as a result of the mounting number of skilled cosmetic professionals, rising use of modern techniques and the availability of cheap priced treatment technologies and devices. China and India, with an enormous ageing population and the rising disposable income per person, are emerging as the top contributors to the regional market growth.
Medical Aesthetics Market Top Firms
The well-established manufacturers of medical aesthetic devices and systems in the global market are Allergan plc (Ireland), Lumenis (Israel), Bausch Health (US), Galderma Laboratories, L.P (US), Merz Pharmaceuticals GmbH (Germany), and many more.
Latest Developments
May 2021
Allergan Aesthetics is planning to bolster its body contouring product range with the acquisition of Soliton and the latter’s RESONIC, which is a Rapid Acoustic Pulse (RAP) device. The RAP device makes use of acoustics’ rapid pulse to disintegrate the fibrous septa band right below the cellulite-causing skin, in addition to removing tattoos. This device is currently undergoing assessment of its potential to treat fibrotic scars.
July 2021
Cartessa Aesthetics LLC has introduced its latest non-invasive body contouring device called Physiq, which is a dual-modality system that uses significant heat for targeting the tissue as well as electrical muscle stimulation (EMS) to the muscle in only one session. Physiq comprises 4 applicators that conform the modality and energy offered to various locations of the body. This is a handsfree treatment that has no downtime and can be altered as per the patient’s body goal.
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Table of Content
1 EXECUTIVE SUMMARY
1.1 MARKET SYNOPSIS 19
2 MARKET INTRODUCTION
2.1 DEFINITION 21
2.2 SCOPE OF THE STUDY 21
2.3 RESEARCH OBJECTIVE 21
2.4 MARKET STRUCTURE 22
2.5 ASSUMPTIONS & LIMITATIONS 22
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 OVERVIEW 31
4.2 DRIVERS 32
4.2.1 HIGH DEMAND FOR LIPOSUCTION, HAIR TRANSPLANTATION, AND THE RISING OBESE AND GERIATRIC POPULATION 32
4.2.2 GROWING EXPENDITURE ON COSMETIC SURGERIES 32
4.2.3 PREVALENCE OF SKIN DISEASES 33
4.2.4 TECHNOLOGICAL ADVANCEMENTS IN THE AESTHETIC INDUSTRY 33
4.2.5 INCREASING ACCEPTANCE OF FACIAL AESTHETICS 33
4.3 RESTRAINTS 34
4.3.1 HIGH PROCEDURAL COSTS 34
4.3.2 LACK OF TRAINING FOR AESTHETIC PROCEDURES 35
4.3.3 SIDE-EFFECTS ASSOCIATED WITH AESTHETICS PROCEDURES 35
4.4 OPPORTUNITIES 36
4.4.1 RISING DEMAND FOR MINIMALLY INVASIVE PROCEDURES 36
5 MARKET FACTOR ANALYSIS
…TOC Continued…
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