Medical Aesthetics Market Overview
Medical aesthetics is an area of medicine, dealing with aesthetics, well-being, peripheral appearance, noticeable skin changes, and image of the patient. Medical aesthetics include high-technology skin care procedures that denote the fusion of beauty and healthcare services.
The demand for pleasing facial and body aesthetics has gained traction to a degree in which people opt for the procedures excessively. Market reports associated with the healthcare industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better.
The market is anticipated to advance at a CAGR of 11% in the coming years.
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The presence of a productive entity is expected to generate more sales or superior margins compared to its market rivals. The advent of new technology has boosted the growth potential of the market. Substantial cutbacks in administrative finances are bringing further development to the market. The development of a strong value chain is moreover motivating the expansion of the market.
The market contenders find themselves in a favorable position with the ability to manage the pace of change. The market trends hint at favorable development of the products that can bring in novelty to the product range and address the customer need better. The market also shows potential for demonstrating a greater comparative or differential value.
Some of the key players in the global medical aesthetics market are Allergan, Alma Lasers, Ltd. (A Division of Sisram Medical Ltd.), Anika Therapeutics, Inc., Cutera, Inc., Cynosure (A Wholly Owned Subsidiary of Hologic, Inc.), El.En. S.P.A., Fotona D.O.O., Galderma (A Subsidiary of Nestlé), Johnson & Johnson, Merz Aesthetics, Inc. (A Division of Merz Pharma GmbH & Co. KGaA), Medytox, Inc., Sientra, Inc., Sinclair Pharma PLC, Solta Medical (A Division of Valeant Pharmaceuticals International, Inc.), and Syneron Medical, Ltd. (A Part of Apax Partners).
The segmentation of the medical aesthetics market has been carried out on the basis of products and end users.
Based on the product, the medical aesthetics market has been segmented into body contouring devices, facial aesthetic products, cosmetic implants, aesthetic skin devices, physician-dispensed eyelash products, physician-dispensed cosmeceuticals and skin lighteners, hair removal devices, thread lift products, tattoo removal devices, and nail treatment laser devices.
Based on end users, the medical aesthetic market has been segmented into beauty centers, medical spas, clinics, hospitals, and home care settings. Based on region, the medical aesthetic market is segmented into Europe, the Americas, Asia Pacific, and the Middle East and Africa.
Jan 2019 Allergan plc has recently launched its new direct-to-consumer campaign, “Own Your Look.” The campaign has been designed to focus upon the most general misconceptions around BOTOX® Cosmetic (onabotulinumtoxinA) and will encourage people to own their look and affirm their aesthetic choices.
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Global Medical Aesthetics Market Share, by Region, 2018 (%)
The Americas is projected to lead the medical aesthetics market during the forecast period. Increasing healthcare awareness, advancement in technology, and medical tourism are some other factors that boost the growth of the market. The US medical aesthetics market dominated the industry in 2017, due to the high demand for quality healthcare, vastly developed healthcare infrastructure, as well as the growing occurrence of skin diseases in the region.
The European market is expected to hold the second largest market share. The market is expected to witness growth owing to the rising patient population, changing lifestyle, and growing elderly population. This is expected to provide favorable backgrounds for the market to grow.
Asia-Pacific is projected to be the fastest growing region for the global medical aesthetics in 2018. Awareness programs and quality assurance of diagnostic procedures have added importance in the developing economies of Korea, Taiwan, China, Sri Lanka, and India since the last few years.
The Middle East and Africa accounts for the least share due to stringent government policies and low per capita income.
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