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% from 2018 to 2023
LONDON, Sept. 24, 2018 /PRNewswire/ --
The global medical aesthetics market is projected to grow at a CAGR of 10.6% in the next five years (2018–2023).
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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% from 2018 to 2023. Factors such as 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 driving the growth of this market. However, 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 are restraining the growth of this market to a certain extent.
The thread lift products segment is projected to register the highest CAGR during the forecast period.
By product, the medical aesthetics 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.The facial aesthetics products segment is expected to account for the largest market share in 2018, while the thread lift products segment is expected to register the highest growth rate during the forecast period.
The high growth of this segment is primarily attributed to the growing focus on aesthetics and increasing consumer willingness to pay for aesthetic treatments.
Asia Pacific to witness the highest growth during the forecast period (2018–2023).
North America is expected to hold the largest share of the global medical aesthetics market in 2018, and this trend is expected to continue during the forecast period.The medical aesthetics market in the Asia Pacific, on the other hand, is projected to witness the highest growth rate during the forecast period.
Factors such as rising consumer knowledge and interest in procedures, strong local economies, aggressive marketing by leading US and European companies in Asia, rising medical tourism, and an increase in awareness about aesthetics are supporting the growth of the medical aesthetics market in the Asia Pacific.
Break-up of primary participants is mentioned below:
• By Company Type: Tier 1 - 33%, Tier 2 - 46%, and Tier 3 - 21%
• By Designation: C-level - 26%, Director-level - 20%, and Others - 54%
• By Region: North America - 33%, Europe - 29%, Asia Pacific - 24%, and the RoW - 14%
Some of the prominent players in the medical aesthetics market are 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).
Research Coverage:
This report studies the medical aesthetics market based on product, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) which affect market growth.
It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for key players.The medical aesthetics market report profiles key players who are involved in the manufacturing and commercialization of medical aesthetic products/devices and analyzes their core competencies.
The report also tracks and analyzes competitive developments in the market such as product launches, enhancements, and approvals; acquisitions; partnerships and collaborations; and expansions.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help players capture larger market shares. Firms purchasing the report could use any one or a combination of the below-mentioned strategies to strengthen their position in the market.
• Market Penetration: Comprehensive information on the top 15 players in the medical aesthetics market. The report analyzes the medical aesthetics market, by product, end user, and region.
• Product Development/Innovation: Detailed insights on research and development activities and new product launches in the medical aesthetics market.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various medical aesthetic products and devices across five geographies (North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa).
• Competitive Assessment: Assessment of market shares, strategies, distribution networks, and manufacturing capabilities of the leading players in the medical aesthetics market.
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