Aesthetic medicine includes both surgical procedures (liposuction, facelifts, breast implants, Radio frequency ablation) and non-surgical procedures (radio frequency skin tightening, nonsurgical liposuction, chemical peel, high intensity focused electromagnetic field, radio frequency fat removal), and practitioners may utilize a combination of both.
What the Market Looks Like?
The global medical aesthetics market is projected to reach USD 17.07 billion by 2023 from USD 10.30 billion in 2018, at a CAGR of 10.6%. The growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric
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 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.
On the basis of end user, the 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.
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What Drives the Market?
The growth of the global market for medical aesthetics is primarily influenced by the following factors:
Growing Adoption of Minimally Invasive and Noninvasive Aesthetic Procedures
Rising Adoption Among Geriatric Individuals
Increasing Public Awareness About Cosmetic Procedures
Availability of Technologically Advanced and User-Friendly Products
Increasing Demand for Aesthetic Treatments Among Men
Geographical growth scenario of 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.
Leading market players and strategies adopted
Allergan, plc (Ireland), Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), Cynosure (US), El.En. S.p.A. (Italy), Fotona d.o.o. (Slovenia), Nestlé S.A. (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 Valeant Pharmaceuticals International, Inc. (US) are some of the key players operating in the global medical aesthetics market.
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