The global medical aesthetics market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. Allergan dominated the medical aesthetics market, accounting for the highest market share in 2016, followed by Lumenis, Cynosure Inc. Other players in this market include BTL Industries, Ltd., Merz Pharma, Suneva Medical, Inc., Venus Concept, Alma Lasers, Cutera, Sciton Inc, Smith & Nephew PLC, Solta Medical (a division of Valeant Aesthetics), and Syneron Medical Ltd., among others held 55.3% of the global medical aesthetics market in 2016.
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The major factors driving the growth of this market are the growing aging population worldwide and technological advancements. These factors increase the demand for medical aesthetics products. On the other hand, stringent regulations imposed by international and local authorities and high cost of treatment may hinder the growth of the market.
Allergan:
Incorporated in 2013 and headquartered in New Jersey, U.S., Allergan is focused on developing, manufacturing and commercialising branded pharmaceuticals, devices and biologic products for patients around the globe. The company operates through seven business segments: central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women’s health, urology and anti-infective therapeutic categories.
Recent developments:
- In April 2017, Allergan acquired ZELTIQ Aesthetics, Inc (U.S.), benefitting Allergan to become the sales leader in body contouring segment.
- In January 2017, Allergan introduced its first injectable product, Juvederm Volite to improve the facial skin quality which lasts for nine months with one application/treatment.
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Lumenis:
Incorporated in 1991 and headquartered in Yokeneam, Israel, Lumenis is the world’s largest energy-based medical device company for developing surgical, aesthetic, and ophthalmic applications. The aesthetic segments offers treatment for ablative skin resurfacing, acne scars treatment, blepharoplasty, laser hair removal, pigmentation, rosacea, scar revision, skin toning, tattoo removal, vascular leg vein, non ablative skin resurfacing, and women’s health. Technology used for production of such devices are- Ablative Lasers CO2, IPL – Intense Pulsed Light, Long Pulsed – Nd:YAG, and Diode Lasers as Non Ablative Laser.
Recent Developments:
- In April 2017, Lumenis announced the launch of PiQo4, powerful technology for the treatment of pigmentation and tattoo removal.
Cynosure Inc.:
Founded in 1991 and headquartered in Westford, Massachusetts, U.S., Cynosure is a leading provider of laser and light-based energy systems used for aesthetic treatment procedures. The company’s aesthetic devices product deals in three business segments which include non-invasive and minimally invasive laser, light-based aesthetic treatment applications, and RF energy based surgical and aesthetic applications solutions.
Recent Developments:
- In March 2016, Cynosure received FDA clearance for its product, PicoSure Energy Delivery system for tattoo removal and treatment of pigmented lesions.
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