The key players operating in the global aesthetics market and profiled in this MRFR report are Galderma, Merz Pharma, Allergan, Valeant Pharmaceuticals, Sanofi, Integra Lifesciences, and Sinclair.
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Psychological disorders such as Snapchat Dysmorphia and Selfitis have developed from the ongoing trends of filtered pictures being observed in social media platforms. The drive for the achievement of perfection, in conjunction with developments in medical science, is expected to fuel demand for aesthetic treatments in the years to come. Market Research Future (MRFR) has recently studied the global aesthetics market and revealed that its valuation is anticipated to reach USD 18,417.2 Mn by the end of the assessment period up from USD 8,975.5 Mn in 2016. The market is expected to scale a healthy CAGR of 10.9% during the forecast period 2017 to 2023.
The growth of the social media industry, coupled with the beauty standards set by the fashion industry, is expected to act as the propelling factor for the aesthetics market. In addition, increasing disposable income which is responsible for backing affordability of the treatment is projected to augment the aesthetics market over the next couple of years. In addition, urban migration is another major factor supporting the growth of the market owing to raised standards of living.
Aesthetics market has been witnessing technological advancements that are anticipated to dictate its growth trajectory over the next few years. For instance, the introduction of laser therapy for removal of unwanted hair is gaining traction in the recent times. Also, with advancements, price erosion has been witnessed in the market which is expected to attract a larger customer base over the projection period, thus, supporting the growth of the aesthetics market.
Although the market is poised to grow substantially in the forthcoming years, the side effects of the surgery pose challenge to the market players. In addition, the strict laws regulating the market is also expected to impede the expansion of the aesthetics market across the forecast period.
On the basis of product, the global aesthetics market has been segmented into implants, injectables, and energy-based devices.
On the basis of treatment, the aesthetics market has been segmented into phototherapy, liposuction, chemical peels, and laser resurfacing.
The global aesthetics market, on the basis of application, has been segmented into body shaping / skin tightening, sub-dermal skin treatment, and epidermal skin/hair treatment.
In May 2019, Genentech, which is a member of the Roche Group, has received FDA approval for Kadcyla® for facilitating adjuvant (after surgery) treatment of people with HER2-positive early breast cancer and have residual invasive disease after neoadjuvant, Herceptin® and taxane based treatment.
In January 2019, “Genius”, a radio frequency micro-needling device, has been granted approval by the U.S. FDA. It is a non-surgical treatment used for the correction of facial wrinkles.
In October 2018, Allergan plc, an Irish pharmaceutical company, has received approval for its CoolSculpting fat-freezing system that aims at working on jawlines.
By region, the global aesthetics market has been segmented into North America, Europe, Asia Pacific, and the Middle East and Africa (MEA). North America is anticipated to exhibit a high growth rate as well as dominate the market in the forthcoming years. The technological advancements witnessed in the region are expected to drive the growth of the regional market. Also, the consolidation of global leaders in the region is projected to have a favorable impact on the growth pattern of the aesthetics market. On the other hand, Asia Pacific has been witnessing rapid economic developments. It signifies strong growth potential and is projected to scale the highest CAGR of 11.5% between 2017 and 2023.
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