Aesthetic Medicine Market to Exhibit A Lucrative Growth Of 10%| Prominent Players: Allergan, Alma Lasers North America, Johnson & Johnson
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Increasing awareness among people regarding aesthetic improvements will drive the global aesthetic market during the forecast period. According to the International Society of Aesthetic Plastic Surgery, around 2.5 million facial rejuvenation procedures were recorded globally in 2016. Growing urge among people to look fit and youthful, high healthcare expenditure and availability of advanced healthcare facilities in developed economies will boost the demand for aesthetic procedures. Rising prevalence of obesity across the world will further drive the demand for fat reduction procedures thereby augmenting the aesthetic medicine market growth.
Global aesthetic medicine market is flooded with a variety of FDA-approved products. For instance, the device called EMSculpt, which has been approved by the Food and Drug Administration for fat reduction in abdomen and buttocks, is being hailed as a revolutionary technology in the aesthetic medicine industry. The device sends 20,000 electromagnetic pulses to stimulate muscles in the problem area over a 30-minute session which equals to doing as many as 20,000 squats in 30 minutes.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Alma Lasers North America
• Johnson & Johnson
• Cynosure, Inc.
• Merz Pharma
• Syneron Candela
• Valeant Pharmaceuticals
• ZELTIQ Aesthetics, Inc.
The EMSculpt is possibly the first tool that aims to tone muscles and is scientifically proven to be successful. The process is painless, non-invasive and studies have shown Treatment with EMSculpt can lead to a 19% reduction in abdominal fat and a 16% increase in muscle mass. EMSculpt aptly presents the positive appeal of aesthetic medicine in making it possible to gain the much-coveted abs without having to spend hours toiling at the gym or going into a sternly regulated diet regime. Having brought forth the concept of body perfection within reach, aesthetic medicine market is thus gaining quite some traction lately.
The omnipresence of social media has helped in adding a significant growth trajectory to the aesthetic medicine market as lookism and to some extent narcissism have been greatly injected in the social structure by social media which is increasingly changing body perceptions. Social media users are not only continually being exposed to perfect airbrushed celebrity images but are also taking advantage of filters available in Instagram and Snapchat and aspiring to achieve the look in real life without filters. As a consequence, many young customers opting for aesthetic medicine have been approaching plastic surgeons with micro-optimized photos of themselves that can make the whole face look better by adding millimeter level of changes all over the face.
Though this has been considered an unhealthy approach towards beauty by many, research shows that small changes in one’s appearance can boost psychological well-being. As these procedures are being viewed less as means of self-indulgent people wasting money on looking youthful and more as a means for normal, emotionally stable people opting for a way to feel confident and more professional, aesthetic medicine industry size is growing at a considerable pace.
The aesthetic medicine market has been traversing alongside a progressive path as technological advancements have come to add more non-invasive and minimally invasive procedures that avoid the cutting and sewing of skin leading to scars and considerable recovery time. Though tummy tucks, breast implants and face lifts are still prevalent, removal of brown spots, wrinkle reduction or Vampire facials and Face whisperers are gaining increasing popularity. For instance, instead of using chemicals, face whisperers use natural body tissue to smooth out wrinkled skin. Procedures that involve no chemicals like Botox or fillers are safer, faster and more convenient and are thus adding a new growth dimension to aesthetic medicine industry.
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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.
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