Aesthetics Market Overview
MRFR (Market Research Future) expects the aesthetics market to touch USD 12,175.1 million at a 10.08% CAGR during the review period. Rising focus among people on looking younger and more fit raises the demand for a variety of aesthetic treatments, with this trend gaining popularity in developing countries as well. Aesthetic procedures such as Botox injections, liposuction, and nose reshaping have gained the attention of a surging number of consumers in Singapore, India, and South Korea.
The aesthetics industry is inundated with several renowned vendors that indulge in strategic competition, eyeing a better position. This leads to fierce rivalry in the aesthetic industry. The different strategies employed by the companies include mergers and acquisitions, new product launch, collaborations, agreements and more. To cite a reference, in December 2021, CUTERA INC., a reputed developer of light, laser, and various energy-based aesthetic devices, introduced an upgraded version of truSculpt flex, its popular muscle building technology. The truSculpt flex+ rapid treatment mode enhances the performance and quality of the Multi-Directional Stimulation, providing the same firming, strengthening, and toning results but in a fraction of the time.
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A major trend emerging in the worldwide market can be the surging demand for minimally invasive aesthetic procedures. On top of that, the mushrooming elderly population increasingly opting for a variety of aesthetic procedures also add to the market value. The emergence of new technically advanced and user-friendly devices coupled with the rising number of men opting for aesthetic treatment will further strengthen the market position in the ensuing years.
Market Segmentation
Procedures as well as end-user are the major segments that have been studied in the MRFR report, to present a detailed outline of the aesthetics industry.
Some of the key procedures include nonsurgical aesthetic procedures along with surgical aesthetic procedures.
The end users covered in the research study are salons & spas, hospitals & clinics, along with dermatology clinics & cosmetic centers.
Regional Insights
The aesthetics market has been regionally segregated into Europe, the Middle East & Africa or MEA coupled with the Americas, and Asia Pacific or APAC.
The Americas, divided into North America as well as Latin America, is the biggest market for aesthetics in the world. The American market’s dominance can be accredited to the highly developed healthcare sector in line with a sophisticated infrastructure. The soaring cases of skin disorders among people, surging popularity of a variety of cosmetic procedures and the extensive pool of skilled & board-certified medial staff and surgeons foster the market share in the region.
The European market for aesthetics can be split between Western Europe and Eastern Europe. Western Europe has a number of developed economies such as Germany, France, the UK, Spain, and Italy with well-defined, robust healthcare infrastructures. This, in addition to the high spending capacity of the consumers in these countries, makes Western Europe the better performing market in the region. The European market benefits from the strong support of the government in terms of funds and new initiatives, surge in research & development efforts and the leading vendors focusing on business expansion.
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The Asia Pacific market is led by Japan, India, Australia, South Korea, and China. APAC will be thriving at the fastest rate between 2020 and 2027, given the soaring number of cosmetic professionals, and the escalating use of modern techniques. The availability of affordable treatment options attracts a huge number of overseas travellers, giving a significant boost to the medical tourism sector in the region.
Top Firms
Swisscode, SkinCeuticals, Endocare, Dermalogica, Kiehl’s, Clarins, Skin Medica, ZO Skin Health, Inc., Obagi Medical, Medik8, Neostrata, Biore, Alumier MD, Clinique, Elemis Ltd, PCA Skin, Lancome, IS Clinical, La Roche-Posay, Teoxane are some of the leading aesthetics devices and solutions providers in the worldwide market.
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