Medical Aesthetics Industry Growth Anticipated with a Healthy CAGR of 12.8% by 2024| Increasingly Focusing On Laser Devices and Skin Tightening and Body Contouring

Some of the major factors driving the market for medical aesthetics market are growing aging population, key players are taking strategic decisions to gain market share. These factors increase the demand for medical aesthetic devices. Rising demand for medical aesthetics devices and technological advancements are the major factors driving the growth of the medical aesthetics market.

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According to Data Bridge Market Research new Market report “Global Medical Aesthetic Market, By Product Type (Aesthetic Laser Devices, Energy Devices, Skin Tightening and Body Contouring Devices, Aesthetic Implants, Facial Aesthetic Devices), By Applications (Anti Aging and Wrinkles, Facial & Skin Rejuvenation, Vascular Lesions, Body shaping & cellulite, Breast Enhancement, Scars, Pigment Lesions, Reconstructive Surgery, Tattoo Removal, Hair Removal, Psoriasis & Vitilgo, Skin Surgery, Skin Tightening), By End-User (Hospitals , Dermatology Clinics, Cosmetic Centers, Medical Spas & Beauty Center), By Distribution Channel (Direct Tenders, Retail), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2024”, is projected to reach USD 16.1 billion by 2024, from USD 8.33 billion in 2016, at a CAGR of 8.6% during the forecast period from 2017 to 2024.

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Drivers: Global Medical Aesthetics Market
Some of the major factors driving the market for medical aesthetics market is growing aging population worldwide and key players taking strategic decisions to gain market share. These factors increase the demand for medical aesthetics products. Increasing consciousness among the individuals with respect to their physical appearance, increasing cosmetic surgeries and technological advancements are the other factors driving the growth of the medical aesthetics market.

Increase In Number Of Cosmetic Surgeries

In recent years, the number of cosmetics surgeries across the globe has increased considerably over a period of time. The rapidly increasing aging population and the subsequent rise in the number of surgeries are major factors driving the demand for aesthetic devices and cost of healthcare.

Key Players Are Taking Strategic Decisions To Gain Market Share

Companies dealing in the medical aesthetics market have been leveraging mergers and acquisitions, internal R&D and new partnership to expand their business in other regions, especially in promising emerging market.

Technological Advancements And Innovations In Medical Aesthetics Market

The medical aesthetics technology market is expected to show significant growth in the coming years due to various technological advancements and new product launches in order to improve the convenience and ease of administration of parenteral therapeutics.

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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.
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.

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