The Global Medical Aesthetics Market to accumulate $18527.3 Million by 2028

A report by Triton Market Research forecasts the global medical aesthetics market, which generated $10383.8 million in 2018, to showcase a CAGR of 5.53% by the year 2028.

A recent study by Triton Market Research titled 'Global Medical Aesthetics Market,' covers the Global Analysis and Forecast for 2019-2028 by Application (Surgical [Face & Head Surgery, Breast Surgery, Body & Extremities Surgery], Non-surgical), Product (Devices [Aesthetic Laser, Skin Tightening & Body Contouring Device], Implants [Dental Implants, Breast Implants, Facial Implants, Other Implants]), End-user (Hospitals & Clinics, Medical Spas & Beauty Centers), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

With the growing consciousness among people regarding the importance of physical appearance, there has been a surging demand for medical aesthetics. These procedures can be both, invasive (such as rhinoplasty) and non- or minimally invasive (such as dermal fillers).

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The report on the global medical aesthetics market shows that the industry would generate $18527.3 million by 2028, with a CAGR of 5.53% over the forecast years from 2019 to 2028. The growing acceptance of home-use aesthetic products, along with the rising popularity of non-invasive techniques and the increasing popularity of medical aesthetic treatments, are driving the growth of this market. However, the high cost of implants is hindering the market growth. Besides, due to the side-effects associated with medical aesthetics procedures, people are apprehensive of undergoing these treatments.

The market for medical aesthetics is primarily divided into three categories: application, product, and end-user. Application is further bifurcated into surgical and non-surgical. Surgical procedures are of three types, face & head surgery, breast surgery, and body & extremities surgery. The second main segment, product, is bifurcated into implants and devices. Out of these, implants includes dental implants, breast implants, facial implants, and other implants. Whereas, devices includes aesthetic laser and skin tightening & body contouring device. The third category, end-user, comprises hospitals & clinics and medical spas & beauty centers.

North America is set to be the largest market for medical aesthetics in the world, accounting for the largest market share by 2028. The growth in this market is attributable to the rising geriatric population, favorable reimbursements provided to those opting for these treatments, high prevalence of facial & dental deformities, and technological innovation. Moreover, the youth in the US is highly influenced by celebrity culture, which has significantly raised the demand for aesthetic procedures to enhance their looks.

On the other hand, the Asia-Pacific is estimated to grow at the fastest rate in the global market during the forecast period. The large population, increased spending, and the growing cognizance regarding beauty and appearance have fueled the market in this region. Moreover, APAC has a budding medical tourism market, which is a major boosting factor for market growth.

Candela Corporation, Lumenis (UK) Ltd, Ipsen Pharma, Cutera, Inmode (Formerly Invasix), Galderma, Allergan, Johnson & Johnson, Merz Pharma, Sientra Inc, Bausch Health Companies Inc (Formerly Valeant Pharmaceuticals), Institut Straumann AG, Zimmer Biomet, and Cynosure are some of the well-known companies in the medical aesthetics market.

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Question & Answer: Medical Aesthetics Market

Question 1: What factors are driving the growth of the medical aesthetics market?
Answer: The growing acceptance of home-use aesthetic products, along with the rising popularity of non-invasive techniques and the increasing popularity of medical aesthetic treatments, are driving the growth of this market.

Question 2: What is hindering the medical aesthetics market growth?
Answer: The high cost of implants is hindering the market growth. Besides, due to the side-effects associated with medical aesthetics procedures, people are apprehensive of undergoing these treatments.

Question 3: How are the regions of North America and the Asia-Pacific influencing the growth of the medical aesthetics market?
Answer: North America is set to be the largest market for medical aesthetics in the world, accounting for the largest market share by 2028. The growth in this market is attributable to the rising geriatric population, favorable reimbursements provided to those opting for these treatments, high prevalence of facial & dental deformities, and technological innovation. Moreover, the youth in the US is highly influenced by celebrity culture, which has significantly raised the demand for aesthetic procedures to enhance their looks.

On the other hand, the Asia-Pacific is estimated to grow at the fastest rate in the global market during the forecast period. The large population, increased spending, and the growing cognizance regarding beauty and appearance have fueled the market in this region. Moreover, APAC has a budding medical tourism market, which is a major boosting factor for market growth.

Question 4: Which are the well-known companies in the medical aesthetics market?
Answer: Candela Corporation, Lumenis (UK) Ltd, Ipsen Pharma, Cutera, Inmode (Formerly Invasix), Galderma, Allergan, Johnson & Johnson, Merz Pharma, Sientra Inc, Bausch Health Companies Inc (Formerly Valeant Pharmaceuticals), Institut Straumann AG, Zimmer Biomet, and Cynosure are some of the well-known companies in the medical aesthetics market.

Related Report:
Global Cosmetic Surgery and Procedure Market

The global cosmetic surgery and procedure market is forecasted to exhibit a CAGR of 5.70% by revenue during the forecasted period from 2019 to 2027, thereby generating $48278.8 million by 2027.

The surging demand for cosmetic surgical procedures can be credited to greater consumer awareness regarding the availability of these procedures. Moreover, people now have increased disposable incomes, owing to which they can afford a better lifestyle. A significant percentage of the population has therefore been spending increasingly on cosmetic treatments. Moreover, due to technological advancements, non-surgical aesthetic treatments have been developed, and consumers have largely embraced them.

Furthermore, the rising medical tourism in the developing economies, growing aging populace, and the development of healthcare infrastructure also help in market growth. The medical tourism business has been booming in recent years, particularly in countries like India, Singapore, Thailand, and Brazil. Cost is a major factor due to which these countries receive a major international patient inflow. Medical procedures in the developing nations are almost 50% to 80% cheaper when compared to those in developed economies. Moreover, these nations boast of highly qualified professionals, nationally & internationally accredited hospitals, and the use of modern technology to perform cosmetic procedures.

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