Medical Aesthetics Market Global Opportunity and Demand Research By Product (Facial Aesthetic Products, Body Contouring Devices, Cosmetic Implants Skin Aesthetic Devices), by End Users (Clinics, Hospitals, and Medical Spas)—Global Forecast till 2023
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Medical Aesthetics Market include ground-breaking healthcare technologies and procedures to enhance the appearance of a person. The area of medicine, dealing with peripheral appearance, wellbeing, and aesthetic is known as medical aesthetics. Market Research Future (MRFR) has published a comprehensive report on the global medical aesthetics market and has projected a CAGR of 11% over the forecast period of 2018-2023.
The combination of various factors such as growing availability as well acceptance of minimally invasive cosmetic procedures, declining cost of these procedures, and increase in awareness among consumers are spurring the growth of the medical aesthetics market. Technological advancements in medical aesthetic procedures and products and the introduction of user-friendly products are other factors shaping the growth of the market. Growing consciousness among the male population regarding their appearance has further boosted the growth of the market.
On the contrary, market growth can be impeded by lack of skilled healthcare professionals and risks associated with medical aesthetic procedures and devices.
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Competitive Landscape
The notable players in the medical aesthetics market are as follows,
Johnson & Johnson
Cynosure (A Wholly Owned Subsidiary of Hologic Inc.)
El.En. S.P.A. and Syneron Medical Ltd. (A Part of Apax Partners)
Sinclair Pharma PLC
Fotona D.O.O.
Merz Aesthetics Inc. (A Division of Merz Pharma GmbH & Co. KGaA)
Solta Medical (A Division of Valeant Pharmaceuticals International Inc.)
Medytox Inc.
Sientra Inc.
Allergan
Alma Lasers Ltd. (A Division of Sisram Medical Ltd.)
Cutera Inc.
Anika Therapeutics Inc.
Galderma (A Subsidiary of Nestlé)
Segmentation
The medical aesthetics market has been segmented based on product and end-user.
By product, the medical aesthetics market has been segmented into facial aesthetic products, body contouring devices, physician-dispensed cosmeceuticals and skin lighteners, cosmetic implants, skin aesthetic devices, physician-dispensed eyelash products, tattoo removal devices, hair removal devices, thread lift products, and nail treatment laser devices.
The facial aesthetic products segment has been further segmented into botulinum toxin, dermal fillers, chemical peels, and microdermabrasion devices. The dermal fillers sub-segment has been further segmented into natural dermal fillers and synthetic dermal fillers.
The body contouring devices segment has been segmented into nonsurgical fat reduction devices, cellulite reduction devices, and liposuction devices. The cosmetic implants segment has been segmented into breast implants, facial implants, and other cosmetic implants. The breast implants sub-segment has been further segmented into silicone breast implants and saline breast implants. The skin aesthetic devices segment has been segmented into laser skin resurfacing devices, micro-needling products, nonsurgical skin tightening devices, and light therapy devices. The hair removal devices segment is segmented into IPL hair removal devices and laser hair removal devices.
By end-users, the medical aesthetics market has been segmented into clinics, hospitals, medical spas, beauty centers, and home care settings.
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Regional Analysis
Region-wise, the medical aesthetics market has been s segmented into the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The Americas is at the forefront of the global medical aesthetics market. The region is a fast adopter of all latest technologies which gives it leverage over others. Cosmetic surgery is quite popular in the region, and its number has increased considerably in the past few years in the US. High expenditure on medical aesthetics, the presence of robust healthcare infrastructure, and the presence of advanced technologies and expertise in the field can be credited for the growth of the market. Other factors include the surging prevalence of skin disorders and high disposable income among consumers, which supports the growth of the market.
Europe is the second-largest medical aesthetics market and is driven by a rise in the occurrence of various diseases which require aesthetical remediation. Rise in the geriatric population, changing lifestyle, and rise in per capita income are other factors driving the growth of the market.
APAC is slated to be the fastest-growing medical aesthetics market. The governments in the region are drafting favorable healthcare schemes which are creating a conducive environment for the growth of the market. Growing healthcare infrastructure, initiation of awareness programs, and quality assurance of diagnostic procedures in the emerging economies of Sri Lanka, Taiwan, South Korea, China, and India.
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Industry Updates
July 2019 - Allergan plc, a leading pharmaceutical company, announced that its new product, CoolTone has gained FDA clearance. CoolTone is a novel non-surgical body contouring medical device which is designed to strengthen and tone muscles.
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