Medical Aesthetic Market 2020 Industry Growth, Analysis, Business Trends, Competitive Landscape, Regional Forecast to 2030 | Impacts of COVID-19

The continual growth of the medical aesthetic market can be attributed to several factors which have led to wide scale adoption of products and several devices, which are extensively used to improve physical appearance of patients. Moreover, the growing demand for cosmetic procedures and therapies across the globe is anticipated to further contribute to the substantial growth of the global medical aesthetic market between 2019 and 2030.To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. The Anglia Ruskin University, based in England, has entered into an agreement with Allergen Inc., a medical aesthetic company, to develop educational program for practicing physicians in the Asia Pacific region on facial aesthetics.The global medical aesthetics market is estimated to be over US$ 9.0 Bn in 2017. It is anticipated to grow at a CAGR of 10.8% from 2019 to 2030.

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Major Players in the Medical Aesthetic Market

The prominent players in the global medical aesthetics market are Cutera, Inc., Cynosure (Hologic), Alma Lasers, Ltd. (Fosun Pharmaceutical Co., Ltd.), Galderma, Mentor Worldwide LLC (Johnson & Johnson), Syneron Medical Ltd., Merz Pharma GmbH & Co. KGaA., Solta Medical, Inc., Lumenis Ltd., and El.En. S.P.A. among others.

Rise in Medical Tourism

Over the years, the emergence of medical tourism as a popular and profitable industry has played a vital role in contributing to the growth of the global medical aesthetic industry. Several countries, namely India, Turkey, Thailand, Brazil and other developing countries have emerged as essential contributors to global medical tourism industry. Multiple factors have been responsible for attracting patients to medical tourism. Cost effectiveness, availability of personalized and tailor-made services, better facilities, convenience, and advanced technologies have been vital in contributing to the medical travel facilities. In 2017, it was estimated that the total number of medical tourists across all countries was a staggering 14-16 million. It is further expected that the number of medical tourists travelling abroad seeking treatments and procedures will additionally increase at a rate of 25% every year. Cosmetic treatments have been one of the most lucrative therapy segments which have witnessed lucrative increment in terms of the number of medical tourist over the past few years. Attractive pricing coupled with availability of advanced technology has been a major driver for the global medical aesthetic market, which is further anticipated to grow in the coming years.

Increasing Adoption of Minimally-Invasive Procedures

Since the advent of minimally-invasive procedures, the adoption of such procedures have witnessed substantial growth in recent times. Shorter hospital admittance time, lesser procedure associated pain and fewer complications have been pivotal in contributing to the growing adoption of minimally-invasive procedures. According to the American Society of Plastic Surgeons (ASPS), the numbers of Americans opting for minimally-invasive cosmetic procedures have witnessed a growth of nearly 200% since 2000. In 2017, the total number of cosmetic procedures performed in U.S. was nearly 1.8 million. Growing preference for minimally-invasive cosmetic procedures in anticipated to further propel the growth of the medical aesthetic market.

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SEGMENTATION BASED ON:

By Product -

Implants: Face, Breast, Soft Tissue
Body Contouring: Liposuction, Cellulite Reduction Devices
Aesthetic Products: Botulinum Toxin, Dermal Fillers
Lasers & Energy Devices: Hair, Tattoo, Laser Skin Resurfacing, Micro Needling

By End Users -

Dermatology Clinics,
Cosmetic Centers,
Hospitals

Complications And Risk Related Associated with Cosmetic Procedures to Restrain the Market

Various complications and risk related to cosmetic procedures have been major factors that have been affecting the growth of the medical aesthetic industry inversely. Several complications such as nerve damage, infections, seroma and pulmonary embolism are known to cause serious adverse and side effects as a result of different cosmetic or aesthetic procedures. Similarly, patients have reported granulomas, and infections as long-term adverse effects caused as a result of cosmetic procedures.

Rapid Growth of the Asia Pacific Market

Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, rising medical tourism and increasing awareness regarding cosmetic treatment and latest technologies is anticipated to present a lucrative growth scenario for the medical aesthetic market in this region. Furthermore, attractive procedure rates, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.

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Table of Contents

1.INTRODUCTION
1.Market Definition
2.Market Ecosystem
1.Market Classification
2.Geographic Scope
3.Years Considered for the Study
1.Historical Years – 2016 & 2017
2.Base Year – 2018
3.Forecasted Years – 2019 to 2030
3.Currency Used for the Study
4.Report Beneficiary List

2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottoms Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations of the Study
3.Assumptions of the Study

3.ABSTRACT OF THE STUDY

4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities

In the end, Medical Aesthetic Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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