Medical aesthetics covers the aesthetical aspect of the healthcare sector and includes well-being, noticeable skin changes, peripheral appearance, and image of the patient. Medical aesthetics include fuses beauty and healthcare services and are getting substantial traction not just from demand for upliftment of the looks but anti-aging as well. In addition, the market for medical aesthetics is witnessing significant traction from recently invented minimally invasive and noninvasive procedures, hike in awareness for cosmetic products, growing participation from startups, and others. However, high costs may play as a spoilsport for the global market.
The global medical aesthetics market is showing high probabilities of achieving a CAGR of 11% between 2018 and 2023, the time frame can be considered the forecast period as well.
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Market Segmentation:
The global market for medical aesthetics involves products and end users for a better segmental analysis. This analysis also incorporates details regarding various factors that can initiate a better understanding of the global market.
By product, the market for the medical aesthetics covers facial aesthetic products, cosmetic implants, body contouring devices, aesthetic skin devices, physician-dispensed cosmeceuticals & skin lighteners, hair removal devices, physician-dispensed eyelash products, thread lift products, tattoo removal devices, and nail treatment laser devices. The segment with facial aesthetic products includes chemical peels, dermal fillers, botulinum toxin, and microdermabrasion devices. The dermal fillers sub-segment incorporates natural dermal fillers and synthetic dermal fillers for a better analysis. The body contouring devices segment covers cellulite reduction devices, nonsurgical fat reduction devices, and liposuction devices. The cosmetic implants segment includes facial implants, breast implants, and other cosmetic implants. The breast implants segment can be further segmented into saline breast implants and silicone breast implants. The skin aesthetic devices segment holds sway over nonsurgical skin tightening devices, micro-needling products, laser skin resurfacing devices, and light therapy devices. The hair removal devices segment includes IPL hair removal devices and laser hair removal devices.
By end users, the market for medical aesthetics can be segmented into hospitals, clinics, beauty centers, medical spas, and home care settings.
Market Key Players
These companies are enriching the market by deploying their own strategic moves and trigger high growth for the market. These companies are
Alma Lasers Ltd. (A Division of Sisram Medical Ltd.)
Allergan
Cutera Inc.
Anika Therapeutics Inc.
El.En. S.P.A.
Cynosure (A Wholly Owned Subsidiary of Hologic Inc.)
Galderma (A Subsidiary of Nestlé)
Fotona D.O.O.
Merz Aesthetics Inc. (A Division of Merz Pharma GmbH & Co. KGaA)
Johnson & Johnson
Sientra Inc.
Medytox Inc.
Solta Medical (A Division of Valeant Pharmaceuticals International Inc.)
Sinclair Pharma PLC
Syneron Medical Ltd. (A Part of Apax Partners).
Regional Analysis:
North America and Europe are regional markets with strong capacity to take the global market forward. The major reason that would drive these regional markets ahead is high per capita income and better exposure to both social media and entertainment industry. These would significantly lure in several players who can contribute to the market and also a large number of patients willing to undergo such procedures. The Asia Pacific market is fast getting exposed to such a sector. Rising per capita income and better provisions for treatments due to revamping healthcare sector are reasons that can provide tailwind to the market. China and India are expected to make significant contributions. On the other hand, in North America, it would be the US to fetch the maximum revenue.
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Competitive Landscape:
In September 2019, Ipsos announced the launching of their new syndicated Medical Aesthetics Monitor that would begin its market percolation in South Korea, then will gradually enter markets of North America and Europe.
The new product combines usage metrics for medical aesthetics products that include perception data from stakeholders, physician’s attitudes regarding procedures & brands, and a panel for consumers that would deliver a 360 degree of the medical aesthetics market.
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