Medical Aesthetics Market Rising at a CAGR of 10.9% | Major Players Allergan, Alma Lasers, Cutera, Cynosure, EL.EN.S.P.A., Fotona D.O.O., Galderma

Delvens published an exclusive report, titled, "Medical Aesthetics Market Rising at a CAGR of 10.9% | Major Players Allergan, Alma Lasers, Cutera, Cynosure, EL.EN.S.P.A., Fotona D.O.O., Galderma". Medical Aesthetics Market By Product (Facial Aesthetic Products, Body Contouring Devices, Hair Removal Devices, Cosmetic Implants, Skin Aesthetic Devices, Tattoo Removal Devices, Nail Treatment, Physician-Dispensed Cosmeceuticals and Skin Lighteners, Physician-Dispensed Eyelash Products), End-Users (Clinics, Beauty Centres, Hospitals, Medical Spas, Home Care), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

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Key players in the global medical aesthetics market are Allergan, Alma Lasers, Cutera, Cynosure, EL.EN.S.P.A., Fotona D.O.O., Galderma, Merz Pharma, Medytox Inc., Sinclair Pharma, Solta Medical, Candela Corporation among others.

Medical Aesthetics Outlook

This field of medicine known as medical aesthetics is largely concerned with ways to enhance and improve the feel, appearance, and body contours. This division deals with the treatment of scars, moles, liver spots, excess fat, wrinkles, loose skin, unwanted hair, cellulite, and skin discoloration.

The development of technology and equipment has increased demand for the healthcare industry on a worldwide scale. The main objective of the firm is to increase demand for the product by increasing consumer awareness of it. Several medical aesthetics technologies are being incorporated into healthcare systems in both developed and developing nations.

Opportunities are being created for the participants in the medical aesthetic industry by the rise in medical tourism, a growing adult population, rising disposable incomes, and greater awareness of aesthetic specialties. Due to the presence of several surgeons, the medical aesthetics industry is growing in China, Brazil, and Mexico.

Key Market Trends

By 2023, it is projected that the global market for medical aesthetics will be worth USD 15.2 billion, rising at a CAGR of 10.9%.

The market is growing because of things like the increasing demand for aesthetic treatments among men and the popularity of minimally invasive and non-invasive aesthetic procedures among geriatric patients. The market is also growing because technologically advanced and user-friendly products are more readily available. Medical aesthetic treatments' clinical risks and side effects, as well as the rising availability and acceptance of alternative beauty and cosmetic products, are restraining the market's growth.

In emerging nations, there is a greater desire to seem young and fit, which has raised the demand for cosmetic procedures. Consumer interest in cosmetic operations like liposuction, nose jobs, and Botox injections is rising in nations like India and South Korea. India is one of the top 5 nations worldwide for non-surgical treatments, according to the International Society of Aesthetic Plastic Surgery (ISAPS). This demonstrates the promising future for the nation's producers of aesthetic medicine.

Market Dynamics

1. Drivers

Increased use of minimally invasive procedures:
There has been a substantial increase in people choosing non-invasive and minimally invasive cosmetic therapy over conventional surgical procedures. Compared to standard surgical treatments, minimally invasive/nonsurgical methods provide a variety of benefits, such as quicker recovery times and less pain and scarring.

Increasing use of aesthetic practices:
The desire to seem youthful and fit is expanding, which has raised the demand for cosmetic procedures in developing nations. Cosmetic procedures including liposuction, botox injections, and nose reshaping are growing more popular among consumers.

Availability of cutting-edge items with good usability:

The emergence of technologically advanced technology, such as non-invasive body shaping devices using fat freezing.

2. Opportunities in the Market

In the upcoming years, it is predicted that the market for medical aesthetics will have prospects to develop due to the increase in the use of aesthetic devices for home use and rising disposable incomes.

3. Restraints and Challenges in the Market

On the other side, it is further anticipated that the clinical risks and consequences associated with medical aesthetic treatments may limit the market's expansion in the anticipated time frame. The social and ethical concerns surrounding cosmetic procedures, however, might provide further obstacles to the medical aesthetics market's expansion in the near future.

This Medical Aesthetics Market report details recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, and the impact of domestic and local market players. It also analyses opportunities in terms of new revenue pockets, regulatory changes, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, and geog Contact Delvens for an Analyst Brief to learn more about the medical aesthetics industry. Our staff will assist you in making an informed choice to advance the market.

Medical Aesthetics on the basis of Segmentation

Product Segment: The medical aesthetics market is divided into segments based on product type, including skin aesthetic devices, energy devices, body contouring devices, face aesthetic devices, and aesthetic implants. Dermal fillers, botulinum toxin, microdermabrasion, and chemical peels are other subcategories of facial aesthetic goods. Devices for body contouring are further divided into nonsurgical fat-reduction tools, cellulite-reduction tools, and liposuction tools. Breast implants, face implants, and gluteal implants are further subcategories of cosmetic implants. Laser and IPL hair removal devices are two other subcategories of hair removal equipment. Devices for nonsurgical skin tightening, micro-needling, light therapy, and laser resurfacing are the other subcategories of skin aesthetic devices.

End-User Segment: The market is divided into clinics, hospitals, and medical spas; beauty salons; and home care settings based on the end user. The market's main end-user sector consists of clinics, hospitals, and medical spas (or MedSpas). Growing patient preference for minimally invasive cosmetic surgeries, an increase in the number of clinics and surgeons offering these treatments, the introduction of new and advanced products into the market, and an increase in the number of aesthetic procedures performed globally are all contributing factors in this segment's growth.

Regional Analysis: North America had the biggest market share in 2023. The high percentage of this region is mostly attributable to the high number of cosmetic treatments carried out, the rise in the aging population, growing disposable income, increased awareness, and supportive government investment in healthcare facilities. Further growing causes include the abundance of research being done, the creation of technologically improved goods, and FDA approvals for home-use aesthetic devices.

Recent Developments in the Market

Cynosure introduced PicoSure Pro in June 2022 as the most recent enhancement to the PicoSure platform.

FlexSure will launch in the United States and Canada in October 2020, according to Cynosure.
In the US, Europe, and Australia in June 2020, Cynosure introduced the Elite iQ Aesthetic Workstation for laser hair removal and skin rejuvenation.

Conclusion

Several businesses in the sector are investing in research and development to bring new goods with cutting-edge technology to market as the demand for medical aesthetics keeps rising. The most recent advancements are concentrated on providing painless therapy for non-invasive and minimally invasive treatments. Moreover, the corporations are concentrated on getting different product approvals from nations including the US, Canada, and Europe, which is further boosting the market usage of aesthetic devices. Also, the availability of home-based goods and rising disposable incomes in emerging nations like Brazil, India, China, and others are boosting the growth of the medical aesthetics industry.

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