Press release
Aesthetic Medicine Market Detailed Analysis on Eminent Players | Cynosure, Galderma, Lumenis, Johnson& Johnson, Merz Aesthetics, PhotoMedex, Syneron Medical, Valeant International, Allergan, Alma Laser and Zeltiq Aesthetics.
Rising demand for aesthetic procedures among the rapidly growing geriatric population base will serve to be another positive impact rendering factor in the market growth. According to the American Society of Plastic Surgeons report, in 2016, around 85,000 facelift procedures were performed in the U.S. population aged 55 years and above. Moreover, increasing prevalence of obesity in developed as well as developing countries will spur the demand for body contouring procedures thereby accelerating the market growth. However, strict regulations for designing and manufacturing aesthetic devices may hamper the aesthetic medicine market growth in the foreseeable future. Furthermore, high cost of aesthetic procedures coupled with poor reimbursement scenario will hinder the aesthetic medicine industry growth.
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Technological advancements in surgical and non-surgical aesthetic procedures to offer convenient, effective and less invasive treatments will serve to be another major driver that will surge the aesthetic medicine industry growth. Development of advanced devices such as miraDry system for hyperhidrosis, ideal implants for breast augmentation as well as nova threads for facelift procedures will increase the adoption of aesthetic procedures. Moreover, increasing investment in R&D to innovate novel technologies and products will accelerate the aesthetic medicine industry growth. However, excessive costs associated with medical aesthetic procedures and devices coupled with lack of reimbursement may impede the market growth over the analysis period. Stringent regulations regarding design, manufacture and import of medical aesthetic devices will further restrain the aesthetic medicine market growth.
Non-surgical procedures segment accounted for the highest revenue share in 2017 and is estimated to show 10.8% CAGR during the forecast period. As per the American Society for Aesthetic Plastic Surgery, in 2016, the number of surgical and non-surgical cosmetic procedures performed in the U.S. accounted for 2.0 million and 11.7 million respectively. Increasing adoption of minimally invasive or non-invasive procedures over surgical procedures coupled with technological developments will drive segmental growth in the coming years.
Facial aesthetics segment dominated the aesthetic medicine market with revenue USD 4.1 billion in 2017 and will continue to grow over the analysis period. Demand for facial aesthetic procedures such as facelift, nose surgery, eyelid surgery and various skin rejuvenation treatments is increasing among people across the globe. Moreover, availability of advanced products such as botulinum injections, dermal fillers, nova threads and other facial fat grafting devices will boost the adoption of such devices and foster the segmental growth in the foreseeable future.
Females segment accounted for 80.2% revenue share in 2017 and estimated to witness healthy growth over the forecast period. Increasing Urge among women to look young and beautiful is the key factor that will drive the segment growth. Demand for breast augmentation, especially aged between 19-34 years, is increasing rapidly in recent years. Growing adoption of such aesthetic procedures among women will foster the segmental growth during the forthcoming years.
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Hospitals end user segment is estimated to witness 9.7% CAGR during the forecast timeframe. The segment growth is highly attributable to growing inclination of people towards aesthetic procedures, developments in healthcare infrastructure and rising disposable income in developed as well as developing economies. Furthermore, affordability of hospitals to buy high-cost instruments and availability of skilled healthcare professionals will further propel the segment growth in coming years.
U.S. aesthetic medicine market accounted for USD 3.5 billion in 2017 and is estimated to show lucrative growth over the forecast period. Increasing demand for aesthetic enhancement, high healthcare expenditure as well as availability of advanced healthcare infrastructure will spur industry growth. Key industry players in the aesthetic medicine market have strong foothold in the U.S. High demand for technologically advanced devices and less invasive procedures will further elevate the regional growth during the forthcoming years.
India aesthetic medicine market will witness 14.0% CAGR over the analysis timeframe. The growth is attributable to factors such as rising prevalence of obesity coupled with growing geriatric patient pool. As per the study conducted by the International Journal of Community Medicine and Public Health, more than a 100 million people in India, are obese. This will augment the demand for surgical as well as non-surgical fat reduction procedures in the region thereby augmenting the industry growth. Moreover, growing investments in healthcare infrastructure, rising disposable income leading to increased affordability as well as growing patient awareness pertaining to aesthetic procedures will drive the regional growth in the coming years.
Some of the prominent industry players operating in global aesthetic medicine market are Allergan, Alma Laser, Cynosure, Galderma, Lumenis, Johnson& Johnson, Merz Aesthetics, PhotoMedex, Syneron Medical, Valeant International and Zeltiq Aesthetics. Key strategies adopted by most of the key industry players include acquisitions, mergers, partnerships and new product launch to strengthen product portfolio and maintain their market position. For instance, in July 2014, Valeant Pharmaceuticals International Inc. acquired PreCision Dermatology, a developer of high quality dermatology products with an aim to strengthen company’s product portfolio and widen its customer base.
Data Tables
TABLE 1. Aesthetic medicine industry 360° synopsis, 2013 – 2024
TABLE 2. Global aesthetic medicine market, 2013 – 2024 (USD Million)
TABLE 3. Global aesthetic medicine market, by type, 2013 – 2024 (USD Million)
TABLE 4. Global aesthetic medicine market, by product, 2013 – 2024 (USD Million)
TABLE 5. Global aesthetic medicine market, by gender, 2013 – 2024 (USD Million)
TABLE 6. Global aesthetic medicine market, by end-use, 2013 – 2024 (USD Million)
TABLE 7. Global aesthetic medicine market, by region, 2013 – 2024 (USD Million)
TABLE 8. Surgical procedures market by region, 2013 – 2024 (USD Million)
TABLE 9. Non-surgical procedures market by region, 2013 – 2024 (USD Million)
TABLE 10. Facial aestehtics market by region, 2013 – 2024 (USD Million)
TABLE 11. Breast aesthetics market by region, 2013 – 2024 (USD Million)
TABLE 12. Body contouring devices market by region, 2013 – 2024 (USD Million)
TABLE 13. Hair removal devices market by region, 2013 – 2024 (USD Million)
TABLE 14. Tattoo removal devices market by region, 2013 – 2024 (USD Million)
TABLE 15. Males market by region, 2013 – 2024 (USD Million)
TABLE 16. 18 years & below market by region, 2013 – 2024 (USD Million)
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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