Medical Aesthetics Market Worth USD 15.9 Billion - Growing Use of New Technological Products

Author : BloggerDJ
Publish Date : 2021-04-22


Medical Aesthetics Market Worth USD 15.9 Billion - Growing Use of New Technological Products

This report aims to provide detailed insights into the global medical aesthetics market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Key Factors Driving Market Growth:

The growth in medical aesthetics market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced & user-friendly products, and the increasing demand for aesthetic treatments among men.

Expected Revenue Growth Analysis:

The global Medical Aesthetics Market is projected to reach USD 15.9 billion by 2025 from USD 9.4 billion in 2020, at a CAGR of 10.9%.

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Facial aesthetic products segment is expected to hold the largest share of the medical aesthetics market in 2019

On the basis of products, the market is segmented into facial aesthetic products (dermal fillers, botulinum toxin, microdermabrasion, and chemical peels); body contouring devices (nonsurgical fat reduction devices, cellulite reduction devices, and liposuction devices); cosmetic implants [breast implants (silicone implants and saline implants), facial implants, and gluteal implants]; hair removal devices (laser hair removal devices and IPL hair removal devices); skin aesthetic devices (laser resurfacing devices, nonsurgical skin tightening devices, micro-needling products, and light therapy devices); tattoo removal devices; thread lift products; physician-dispensed cosmeceuticals and skin lighteners; physician-dispensed eyelash products; and nail treatment lase devices. The facial aesthetic products segment is expected to account for the largest share of the market in 2019. The large share of this segment is attributed to the growing patient demand for facial aesthetic treatments, increasing disposable income and spending capabilities, and the rising geriatric population across the globe.

Browse in-depth TOC on "Medical Aesthetics Market"

205 – Tables
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241 – Pages

Clinics, hospitals, and medical spas are expected to be the fastest-growing end users in the medical aesthetics market during the forecast period (2020–2025)

On the basis of end user, the market is segmented into clinics, hospitals, and medical spas; beauty centers; and home care. The clinics, hospitals, and medical spas segment is estimated to account for the largest share of the global market in 2019. This end-user segment is also expected to be fastest-growing end-user segment during the forecast period, owing to the increasing number of clinics and medical spas and the high availability of financial and infrastructural resources with hospitals, including technologically advanced devices, trained staff, and skilled professionals to perform aesthetic procedures.

North America to dominate the medical aesthetics market in 2019

Geographically, the market is segmented into North America (the US and Canada), Europe (Germany, the UK, France, Italy, Spain and the Rest of Europe), Asia Pacific (Japan, China, India, South Korea, Australia, Indonesia, Thailand and the Rest of Asia Pacific), Latin America (Brazil, Mexico, Rest of the latin america) and the Middle East and Africa. North America is expected to account for the largest share of the global market in 2019. The large share of this region in the global market can be attributed to the growing procedural volume for aesthetic procedures and the high adoption rate of novel technologies in this region.

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The major players operating in the medical aesthetics market are Allergan-AbbVie(US), Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), Cynosure (US), El.En. S.p.A. (Italy), Fotona d.o.o. (Slovenia), Galderma (Switzerland), Johnson & Johnson (US), Merz Pharma GmbH & Co. KGaA (Germany), Medytox, Inc. (South Korea), Sientra, Inc. (US), Sinclair Pharma plc (UK), Syneron Medical, Ltd. (US), and Baush Health, Inc. (US).

COVID-19 Impact on the global medical aesthetics market

The COVID-19 pandemic has significantly affected the medical aesthetics market. The beauty and luxury sector is facing challenges in its manufacturing and supply chain, such as delivering products to end users in a timely manner as well as attending to an uneven demand for products and services. The market is facing a period of short-term negative growth, which can be attributed to factors such as a decline in the product demand from major end users, limited operations in most of the industries, temporary closure of major end-user facilities (including beauty centers and spas), disrupted supply chain, and challenges in terms of providing essential/post-sales services due to the lockdown.

Driver: Growing adoption of minimally invasive and noninvasive aesthetic procedures. 

In the past decade, there has been a significant increase in the preference for minimally invasive and noninvasive aesthetic procedures over traditional surgical procedures. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, such as less pain, reduced scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures.  As per the International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall increase of 5.4% in the number of plastic and cosmetic procedures between 2017 and 2018.

Restraint: Clinical risks and complications associated with medical aesthetic procedures 

In the past two decades, medical aesthetic procedures have become increasingly popular. The market has witnessed significant growth in the demand for aesthetic treatments owing to the rise in the number of doctors and surgeons providing safe and effective medical aesthetic treatments and the launch of technologically advanced products for the same. However, medical aesthetic procedures are associated with various possible side-effects. Patients undergoing aesthetic treatments may face several risks and complications after or during the procedure.

Opportunity: Emerging markets 

Emerging countries such as China, Brazil, Mexico, and India present significant opportunities for players operating in the medical aesthetics market. The demand for medical aesthetic devices in these countries is increasing owing to a rapid growth in medical tourism, the growing adult (aged 20 and above) population, increasing disposable incomes, and growing awareness about aesthetic specialties. The presence of a large number of surgeons in these emerging countries is also contributing to the growth of the medical aesthetics market.

Challenge: Social and ethical issues associated with cosmetic treatments 

Social stigmas associated with cosmetic treatments (surgical and nonsurgical) are mainly due to negative perceptions toward aesthetic procedures as well as the presence of religious and ethical concerns related to some aesthetic treatments, such as alterations, augmentations, erasures, and fillings. Although many people undergo some form of appearance-altering treatment, very few of them like to talk about it. Some people consider undergoing invasive anti-aging treatments, such as BOTOX or cosmetic surgery, as vain, self-centered, or being mentally unwell. Despite the increasing emphasis on looking younger among the elderly population, there are possible negative social consequences related to engaging in cosmetic age concealment. The social stigma attached to aesthetic treatments negatively affects the social acceptance of these procedures, thereby hindering the growth of this market.



Category :business
Author Website : Medical Aesthetics Market

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