Aesthetic Medicine Market : Eminent Players – Allergan, Alma Laser, Cynosure, Galderma, Lumenis, Johnson& Johnson, Merz Aesthetics, PhotoMedex, Syneron Medical, Valeant International and Zeltiq Aesthetics
Over the last few decades, the rapid developments in surgical & cosmetic procedures have majorly impacted the growth dynamics of aesthetic medicine market. Aesthetic care has certainly skyrocketed in popularity, exclusively among the millennials who are thinking of the effects of aging on appearance and are therefore increasingly going under the knife. According to the International Society of Aesthetic Plastic Surgery, more than 2.5 million facial rejuvenation procedures were registered globally in 2016. Reports claim that this shift is particularly due to the escalating advancements in non-invasive treatments which are yielding effective results with reduced down time.
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Against this backdrop, aesthetic medicine industry is gaining exceptional momentum in terms of the remuneration portfolio, as consumer perspective toward beauty has become rather sophisticated. With rapid innovations in aesthetic medicines, what was once perceived as radical & risky, has now become more commonplace, resulting in heightened aesthetic medicine market demand. This is evident from the estimates which claim the overall valuation of aesthetic medicine market to have been valued at USD 9.2 billion in 2017, and to continue along a lucrative growth path in the years ahead.
The leading cosmetic procedures | Aesthetic medicine industry analysis
Given the growing inclination of people toward non-invasive aesthetic procedures, the non-surgical procedures are expected to witness tremendous demand in the ensuing years. As per a report provided by the American Society for Aesthetic Plastic surgery, the number of non-surgical aesthetic procedures were around 11.7 million in 2016 compared to that of 10.9 million in 2015. Availability of advanced technologies such as laser based vaginal rejuvenation and non-invasive visible fat reduction has depicted an upward trend for non-surgical procedures adoption. The leading industry players are further contributing to the growth of non-surgical procedures by introducing new techniques and establishing partnerships.
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For instance, in 2017, Botox maker Allergan Plc had announced to buy fat-fighter Zeltiq Aesthetics for USD 2.48 billion in an all cash deal. Reportedly, the Zeltiq Aesthetics systems help people slim down by freezing fat away. Allergan estimates that the body contouring is a significant USD 4 billion market, and the demand for procedures are already high.
With increasing affordability & advanced healthcare infrastructure, non-surgical procedures are expected to draw attractive remuneration in the future. Reports claim that the non-surgical procedures segment contributed USD 6.6 billion in 2017 toward the overall share and will continue to tread along a lucrative path with an estimated CAGR of 10.8% over 2018-2024.
The rapidly growing product portfolio | Aesthetic medicine industry analysis
In an era ruled by social media, beauty has become a lucrative tradable commodity and personal appearance management has become a contemporary art form. Facial aesthetics product segment, in this regard dominated the global industry space with a valuation surpassing USD 4.1 billion in 2017. Increasing demand for eyelid surgery, nose surgery, facelift, & lip enhancement has augmented the segment growth. According to the report published by ISAPS (International Society of Aesthetic Plastic Surgery) eyelid surgery accounted for over 1.3 million in 2016, while total face & head procedures were around 4.2 million for the same year.
Moreover, the Westlake Dermatology & Cosmetic Surgery report claims more than 31,000 rhinoplasty procedures to be performed for the year 2016. The data significantly stands as testimony to the increasing adoption of such procedures, which in turn have chiefly impacted facial aesthetics medicine industry share. Breast aesthetics is another popular segment under the global aesthetic medicine market which accounted for more than 12.7% of the overall revenue share in 2017.
The soaring demand for cosmetic surgeries across myriad geographies, especially the across U.S., China, and India have further impelled global players to invest in R&D activities and adopt market expansion strategies. Enumerated below are some of the recent instances witnessed by the competitive landscape of this industry that are bound to propel the overall aesthetic medicine industry share.
• Merz, a global leader in medical aesthetics, has recently announced the launch of Belotero® Lips, with product portfolio designed for lip enhancement & treatment of perioral lines that complement each other to deliver natural-looking & effective cosmetic results.
• Enhance Aesthetics & Medicine has unveiled that it is now offering GAINSWave® in Arkansas. Reportedly, this noninvasive medical therapy makes use of low-intensity shockwave therapy to treat Erectile Dysfunction (ED) symptoms & enhance sexual performance.
• Earlier, Ideal Implants Inc., developed a structure breast implant that uniquely combines the benefits of using silicone gel implants and saline implants.
These instances clearly validate that the manufactures have been investing heavily in product research & development activities, in turn supporting advanced technology and product innovation. Powered by advanced developments, the aesthetic medicine industry, though still in its infancy is projected to outpace the traditional plastics surgery industry. A report compiled by Global Market Insights, Inc., anticipates the global aesthetic medicine market to secure a valuation of over USD 18.5 billion by 2024.
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.
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