$ 18.5bn Opportunity by 2024 in the Aesthetic Medicine Market | Top Key Players – Allergan, Alma Lasers North America, Johnson & Johnson, Cynosure, Inc., Galderma, Lumenis, Merz Aesthetics, PhotoMedex, Syneron Candela, Zeltiq Aesthetics

As per the American Society of Plastic Surgeons, in 2016, more than 79,000 liposuction procedures were performed in the U.S. Aforementioned factors will stimulate the aesthetic medicine market growth. Aesthetic Medicine Market will exceed USD 18.5 billion by 2024; as per a new research report.

Increasing prevalence of obesity in developed as well as developing countries will drive the aesthetic medicine market growth over the forecast period. World Health Organization estimated that, in 2016, more than 1.9 billion adults, aged 18 years and older, were overweight, of which, over 650 million were obese. Increasing adoption of fat reduction procedures in obese patients will augment the aesthetic medicine market growth.

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Growing geriatric population base coupled with rising awareness regarding aesthetic procedures will accelerate the global aesthetic medicine market growth. Technological developments such as availability of non-invasive fat reduction techniques and liquid facelift procedures for skin rejuvenation will increase the adoption of such procedures. Increasing investment in R&D and focus of industry players on developing newer technologies will fuel the demand for aesthetic procedures thereby fostering the industry growth. However, high cost of aesthetic procedures may hamper the market growth in coming years. Lack of reimbursement and stringent regulations may further impede the aesthetic medicine market growth.

Surgical procedures segment is estimated to witness 10.2% CAGR over the analysis period owing to the increasing number of surgeries being performed worldwide. Demand for procedures such as rhinoplasty and blepharoplasty is increasing among the young population base aged 18 years and above. As per the American Society of Plastic Surgeons, over 31,000 nose shaping procedures such as rhinoplasty were performed in the U.S. in 2016. Increasing adoption of such procedures will further augment the segmental growth.

Breast aesthetics segment accounted for more than 12% revenue share in the global aesthetic medicine market in 2017. Increasing concern regarding breast aesthetics among the female population will drive the segmental growth. Availability of technologically developed products such as ideal implants, that combine the advantages of silicone and saline implants will increase the demand for such products. Furthermore, high demand for breast augmentation procedures among women aged 25 years and above will boost the segmental growth during the forthcoming years.

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Females segment dominated the global aesthetic medicine market with 80.2% revenue share and is estimated to show considerable growth over the analysis period. The growth is attributable to the increasing urge among female population to look young and beautiful. Increasing demand for aesthetic procedures to mask ageing signs such as deep winkles, sagging eyelids and neck as well deflated cheeks will drive the demand for aesthetic procedures thereby upsurging the segmental growth.

Beauty centers and medical spas segment will show robust 11.2% CAGR during the forecast period due to increasing awareness regarding aesthetic procedures. Availability of various non-surgical procedures that can be performed in these centers will spur the segmental growth. Growing demand for non-invasive skin rejuvenation procedures such as skin resurfacing, chemical peels and microdermabrasion will further drive the segmental growth.

U.S. aesthetic medicine market accounted for USD 3.5 billion in 2017 owing to the availability of advanced healthcare infrastructure and technological advancements in the region. Increasing awareness regarding aesthetic procedures coupled with high healthcare expenditure will further stimulate the regional growth. Moreover, presence of key industry players leading to development of innovative products will be another key driver that will boost the regional growth in the foreseeable future.

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Some of the notable players operating in global aesthetic medicine market include Allergan, Alma Laser, Cynosure, Galderma, Lumenis, Johnson & Johnson, Merz Aesthetics, PhotoMedex, Syneron Medical, Valeant International and Zeltiq Aesthetics. Key industry players primarily focus on strategic partnerships, acquisitions, mergers and new product launch to diversify product portfolio and capitalize on market opportunities.

Aesthetic Medicine Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:

Aesthetic Medicine Market, by Type, 2013-2024 (USD Million)

Surgical procedures
Non-surgical procedures

Aesthetic Medicine Market, by Product, 2013-2024 (USD Million)

Facial aesthetics
Injectables
Skin rejuvenation
Others
Breast aesthetics
Body contouring devices
Hair removal devices
Tattoo removal devices

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