Aesthetic Medicine Market to Exhibit A Lucrative Growth Of 10%| Prominent Players: Allergan, Alma Lasers North America, Johnson & Johnson

Global Aesthetic Medicine Market is set to exceed USD 18.5 billion by 2024; according to a new research report by Global Market Insights. Developments in surgical as well as non-surgical aesthetic procedures will be the key factor that will drive the global aesthetic medicine industry during the forecast period. Availability of advanced aesthetic devices that offer effective, time-saving and minimally invasive treatments will increase the adoption of such devices. Huge investments in R&D will lead to innovations in aesthetic medicines thereby augmenting the aesthetic medicine industry growth. For instance, Ideal Implants Inc. developed ideal implant, a structured breast implant that combines benefits of saline implants and silicone implants.

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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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.

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 industry to have been valued at USD 9.2 billion in 2017, and to continue along a lucrative growth path in the years ahead.

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.

The leading cosmetic procedures | Aesthetic medicine market 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 Aesthetic Medicine Market players are further contributing to the growth of non-surgical procedures by introducing new techniques and establishing partnerships.

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.

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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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