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Medical Aesthetics Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

05-05-2018 01:32 PM CET | Health & Medicine

Press release from: Medical Devices

Medical Aesthetics Market - Global Industry Insights, Trends,

Medical aesthetics is an area of medicine, dealing with aesthetics, well-being, external appearance, visible skin changes, and image of the patient. Medical aesthetics involve high-technology skin care procedures that represents the fusion of beauty and healthcare services. Procedures for these involves use of advanced technologies to enhance aesthetics of the person. Demand for anti-aging products and procedures is increasing significantly, owing to increasing focus of patients to look young and improve their appearance, especially by people aged 50 years and above.

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Medical Aesthetics Market: Market Dynamics

Increasing surgical procedures for enhancing personal appearance is a major driver for the global medical aesthetics market growth. For instance, according to International Society of Aesthetic Plastic Surgery (ISAPS), in 2015, women had over 18 million non-surgical and surgical procedures performed, that is around 85.6% of the total aesthetic procedures performed worldwide. The top five surgical procedures performed on women in 2015 were: breast augmentation, liposuction, eyelid surgery, abdominoplasty, and rhinoplasty. Furthermore, men had over 3 million non-surgical and surgical procedures, comprising around 14.4% of the total. The top five surgical procedures performed on men were: eyelid surgery, liposuction, gynecomastia surgery, rhinoplasty, fat grafting, and ear surgery. Male patients are increasingly focusing on undergoing aesthetic procedures, owing to better results with reduced downtime and discomfort. According to another ISAPS report, Botulinum Toxin continues to be the most common form of procedure, women and men undergo. A total number of over 4.6 million procedures are conducted on both the sexes of Botulinum Toxin. Procedures of Hyaluronic acid increased 6.5% from 2014 to 2015, whereas breast augmentation continues to be the most common surgical procedure among women with a 10.4% rise from 2014 and eyelid surgery is prevalent among men.

Furthermore, increased demand for minimally invasive and non-invasive procedures, high demand for reconstructive and augmentation surgeries, and increased adoption of laser-based devices is expected to drive growth of the medical aesthetics market during the forecast period. For instance, number for Liposuction surgery increased by 5% in 2016 as compared to previous year. In the recent past, dermatologists frequently recommend minimally invasive surgeries, due to more effectiveness, fewer post-surgery side effects and complications coupled with shorter recovery spans, eventually fueling growth of the medical aesthetics market.

Facial aesthetics segment accounted for the major revenue share in 2017, owing to rising demand for facial aesthetic treatments and non-invasive cosmetic procedures. Another factor affecting growth of market is rising geriatric population demanding these procedures, and new product launches. Medical spas and clinics segment is anticipated to exhibit highest growth during the forecast period due to growing number of medical spas and clinics and rising number of skilled professionals performing aesthetic procedures, coupled with increasing preference for minimally invasive and non-invasive aesthetic procedures.

However, social stigma associated with aesthetic procedures and stringent safety regulations governing these procedures can negatively impact the medical aesthetics market growth to some extent.

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Medical Aesthetics Market: Regional Insights

Regional segmentation of medical aesthetics market by Coherent Market Insights, includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America medical aesthetics market is expected to hold a dominant position, due to increasing aesthetic procedures in the region. According to American Society for Aesthetic Plastic Surgery, the number of medical aesthetics procedures performed in the U.S. has significantly increased. In 2016, people in the U.S. invested over US$ 15 billion on combined non-surgical and surgical procedures, with non-surgical accounting for 44% of all the procedures.

Latin America and Asia Pacific are expected to be lucrative markets for medical aesthetic products, owing to growing medical tourism, increasing middle class with high disposable income, and rising awareness about one’s aesthetic appeal. For instance, according to a statistics, India issued more than 0.17 million medical visas in 2016, including for follow up treatment, as against 0.12 million in 2015. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report, in 2016, the top five countries – the U.S., Brazil, Japan, Italy, and Mexico – accounted for around 41.4% of the world’s cosmetic procedures, followed by Russia, India, Turkey, Germany, and France.

Medical Aesthetics Market: Competitive Analysis

Major players operating in the medical aesthetics market include Cynosure, Inc., Allergan, Inc., Alma Lasers, Ltd., Mentor Worldwide LLC, Lumenis Ltd., ZELTIQ Aesthetics, Inc., PhotoMedex, Inc., Galderma S.A., Syneron Medical, Ltd., and Solta Medical, Inc. The industry is fragmented and highly competitive in nature with many local players competing with international players.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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