Medical Aesthetics Market 2020: Global Key Players, Trends, SharePosted by Ritika Tyagi on March 18th, 2020 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 are the key factors driving the growth of this market. On the other hand, market growth is limited to a certain extent by factors such as the clinical risks and complications associated with medical aesthetic procedures and the increasing availability and adoption of alternative beauty and cosmetic products. MarketsandMarkets forecasts the global medical aesthetics market is projected to reach USD 17.07 billion by 2023 from USD 10.30 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 10.6%. Facial aesthetic segment accounted for the largest share of the medical aesthetics market. 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 other cosmetic 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 laser devices. The facial aesthetic products segment is expected to hold the largest share of the medical aesthetics market in 2018. 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. Clinics, hospitals, and medical spas end-user segment is expected to grow at the highest CAGR during the forecast. Medical aesthetics 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 medical aesthetics market in 2018. 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. Download PDF Brochure @ North America accounted for the largest share of the medical aesthetics market. Geographically, this market is divided into North America, Europe, Asia Pacific, and the RoW. North America is expected to account for the largest share of the global medical aesthetics market in 2018, and this trend is expected to continue during the forecast period. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. Rising consumer knowledge and interest in procedures, strong local economies, aggressive marketing by leading US and European companies in Asia, rising medical tourism, and increasing awareness about aesthetics are some of the key factors driving the growth of the medical aesthetics market in the Asia Pacific. 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. Globally, 13,209,539 nonsurgical aesthetic procedures were performed in 2016 as compared to 12,055,418 procedures in 2015. This represented a growth of 10% during 2015–2016 (Source: ISAPS). According to the American Society for Aesthetic Plastic Surgery (ASAPS), in the US, the number of nonsurgical aesthetic procedures performed increased by 7.3% during 2015–2016. In 2016, 55.9% of all aesthetic procedures performed worldwide were estimated to be nonsurgical procedures while surgical procedures accounted for 44.1% of the total aesthetic procedures (Source: ISAPS). Request for Sample Pages @ Leading Companies in Medical Aesthetics Market Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), El.En. S.p.A. (Italy), Fotona d.o.o. (Slovenia), Nestlé S.A. (Switzerland), Merz Pharma GmbH & Co. KGaA (Germany), Medytox, Inc. (South Korea), Sientra, Inc. (US), Sinclair Pharma PLC (UK), Syneron Medical, Ltd. (US), and Valeant Pharmaceuticals International, Inc. (US). Like it? Share it! More by this author |