Medical
Aesthetics are Gaining Recognition as a Procedure to
Improve Physical Appearance
The medical aesthetics market is growing
as a result of factors such as the growing popularity of minimally invasive and
non-invasive aesthetic procedures, the growing popularity of aesthetic
procedures among geriatric patients, the availability of technologically
advanced and user-friendly products and the growing demand for aesthetic
treatments among consumers. Factors such as rising public awareness about
cosmetic products, an increase in congenital facial and dental
deformities and an increase in the use of aesthetic operations to improve
physical appearance among the population are driving the medical
aesthetics market. Introduction of innovative products, such as non-invasive
body contouring systems, is expected to provide attractive opportunities in the
medical aesthetics market throughout the forecast period. Millennials' growing
desire to improve their physical appearance has increased demand for cosmetic
operations, that is anticipated to fuel the market's expansion.
Rising Demand for Cosmetic Surgery & Anti-Aging
Procedures will Increase the Use of Medical Aesthetics
Owing to the increasing demand
for cosmetic procedures, rising disposable income and rising government
expenditure on healthcare infrastructure, North America's medical aesthetics
market witnessed the largest regional share. Medical aesthetics demand in North
America is also being driven by the development of technologically improved
devices, R&D projects and FDA approval for home-use aesthetic devices.
The Aesthetic Society is the world's leading organisation entirely
dedicated to aesthetic plastic surgery & cosmetic medicine of the face and
body. The Aesthetic Society has over 2,600 members, all of whom are certified
by the American Board of Plastic Surgery (USA) or the Royal College of
Physicians and Surgeons of Canada. Presence of such organisations in North
America also contribute to the regional market growth. According to Cleveland
Clinic (a non-profit American academic medical center), cosmetic surgery is
extremely popular in the United States, more than 15 million cosmetic surgery
treatments are performed each year. Almost 13 million of these procedures
involve minimally invasive techniques, people of all genders & ages undergo
cosmetic surgery. These treatments are more common in adults aged 40 to 54. 92%
of cosmetic surgery treatments are performed on women. According to the
Aesthetic Society, skin treatment, skin tightening and fat reduction are most
popular non-surgical procedure in the U.S in 2021 with 1,877,237 procedures
being carried out. As a result, these elements are supporting medical
aesthetics market expansion. Moreover, due to rising medical tourism, improved
healthcare infrastructure, increased public awareness of anti-aging procedures,
and affordable healthcare expenses, Asia Pacific is likely to experience the
fastest development over the forecast period.
High Cost of Treatment, Risk of Malfunction
& Low Reimbursement Associated with Medical Aesthetics Restrict the Market
Growth
The clinical risks and repercussions
associated with medical aesthetic procedures, as well as the increasing
accessibility and popularity of alternative beauty and cosmetic products, are
limiting the market's growth. One of the major challenges to the market is the
high possibility of unforeseen outcomes from medical aesthetic procedures. When
undergoing treatment, patients must be advised of a multitude of dangers and
potential outcomes. In the coming years, lack of reimbursement policies and
expensive equipment costs are expected to hamper the medical aesthetics
market.
Medical Aesthetics Market is Driven by Acquisition,
Investment & New Launches
The medical aesthetics market is
highly fragmented, with many local companies competing with international
players. Adoption of new technology for advanced treatments and technological
innovation are the primary factors influencing competition. Major players are
using mergers and acquisitions as a major strategy to maintain their market
position. Allergan Aesthetics, a division of AbbVie Inc., purchased Soliton,
Inc., a medical technology company, in 2021. This acquisition will expand
its non-invasive body contouring treatments. Galderma SA announced a large
investment in its aesthetic portfolio in March 2020, including the expansion of
its US salesforce and digital developments in ASPIRE Galderma Rewards. These
investments are encouraging the medical aesthetics market. FDA authorised
Jeuveau (Evolus, Inc.) in 2019, it is similar to Botox but is less
expensive. The product is effective at reducing wrinkles. Liposuction,
breast augmentation, and nose reshaping are some of the most common aesthetic
operations. The growing focus on physical beauty has fuelled demand for these
invasive procedures. Merz Aesthetics Inc. introduced Radiesse (+)
Lidocaine in 2022, an injectable implant for deep injection for soft tissue
augmentation to address moderate to severe loss of jawline shape in individuals
over the age of 21.
AbbVie Inc. (Allergan PLC), Johnson
& Johnson, BioHorizons IPH, Inc., Cynosure Inc., Cutera, Inc., Dentsply
Sirona Inc., Danaher Corporation, Lumenis Ltd., Hologic, Inc., Galderma SA, Southern
Implants, Solta Medical Inc., Syneron Medical Ltd., Tecno Gamma, TRI Dental
Implants, YOLO Medical, ZELTIQ Aesthetics Inc., Zimmer Biomet Holdings Inc and
Bausch Health Companies Inc. are some of the well-known market players
operating in the global medical aesthetics market.
Wide Range of Applications Leading to Medical
Aesthetics Market Expansion
Growth in medical tourism, rise
in disposable income and rising awareness about beauty specialties are driving
the expansion of the market. Medical aesthetics devices are used to correct
abnormalities caused by accidents, trauma and other congenital illnesses
(particularly implants). Also, medical aesthetics operations can help to
reverse the ageing process to some extent. Furthermore, the importance of
physical attractiveness is growing and people all over the world are
attracted to products and treatments that will help them maintain their youth
and beauty. Another element driving the expansion of the market is the increase
in consumer expenditure on cosmetic pharmaceuticals across the globe. In
developing countries, the growing desire to look young and fit has raised
demand for aesthetic treatment. Liposuction, nose reshaping and Botox
injections are becoming popular among consumers in countries such as India
and South Korea. According to the International Society of Aesthetic Plastic
Surgery (ISAPS), India is one of the top ten countries in the world for
surgical and non-surgical procedures. This emphasises the promising growth
opportunities for the country's medical aesthetics manufacturers. Furthermore,
increasing incidence of trauma and traffic accidents as well as increasing
cases of breast cancer are expected to fuel the growth of the medical
aesthetics market.
The report provides a detailed
overview of the medical aesthetics market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for medical aesthetics market has been
offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR
estimates are also incorporated for every country and region, to provide a
detailed view of the medical aesthetics market. These Y-o-Y projections on
regional and country-level markets brighten the political, economic and
business environment outlook, which are anticipated to have a substantial
impact on the growth of the medical aesthetics market. Some key country and
region included in the medical aesthetics market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy,
U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN,
India, Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Medical Aesthetics Market Research
Report Covers In-depth Analysis on:
·
Medical aesthetics market segments
·
Medical aesthetics market dynamics
·
Medical aesthetics market value and share
analysis
·
Recent trends, restraints, opportunities in medical
aesthetics market
·
Companies & competition involved medical
aesthetics market
·
Latest technologies in medical aesthetics market
·
Supply chain and value chain medical aesthetics
market
·
Medical aesthetics market sales and distribution
strategies
Medical Aesthetics Market Growth
Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size
in terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Medical aesthetics industry trends and
developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on medical aesthetics
market forecast by countries
·
Essential information to enhance market position
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