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Global Medical Aesthetics Market Size, Report, Share Analysis, Overview And Future Forecast To 2033
Global Medical Aesthetics Market Analysis
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the medical aesthetics industry. This report on medical aesthetics market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The medical aesthetics market size has grown rapidly in recent years. It will grow from $11.5 billion in 2023 to $13.11 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to increased aging population, cosmetic industry growth, consumer awareness, medical tourism, regulatory approvals .
The medical aesthetics market size is expected to see rapid growth in the next few years. It will grow to $21.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to minimally invasive procedures, virtual consultations, personalized aesthetics, sustainability and eco-friendly products, social media influence. Major trends in the forecast period include combination therapies, regenerative aesthetics, artificial intelligence (AI) and machine learning, virtual reality (VR) for pain management, ultrasound-based treatments.
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Key Market Players:
AbbVie Inc., Medytox Inc., Galderma S.A., Alma Lasers Ltd., Merz Pharma GmbH & Co. KGaA, Cynosure LLC, Fotona d.o.o., Anika Therapeutics Inc are prominent players in the medical aesthetics industry.
Market Drivers:
According to the Medical Aesthetics Market Report 2024 by The Business Research Company, the key factors driving the growth of the medical aesthetics market, includes the growing adoption of minimally invasive and non-invasive aesthetic procedures is expected to propel the growth of the medical aesthetics market going forward. Minimally invasive procedures refer to the technique used by medical professionals to limit the size and quantity of incisions or injections. There is a rise in minimally invasive and non-invasive aesthetic procedures, which are used as treatments in medical aesthetics because they are quick, minimally invasive, safe, effective, and require little downtime. For instance, in January 2023, according to The International Society of Aesthetic Plastic Surgery, a US-based society of plastic surgeons' liposuction ranked as the most prevalent cosmetic surgical procedure, experiencing a notable surge with over 1.9 million cases, marking a 24.8% increase. Therefore, the growing adoption of minimally invasive and non-invasive aesthetic procedures is driving the growth of the medical aesthetics market.
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Market segments for medical aesthetics include:
1) By Product: Facial Aesthetic Products, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices, Tattoo Removal Devices, Thread Lift Products, Physician-dispensed Cosmeceuticals and Skin Lighteners, Physician-dispensed Eyelash Products, Nail Treatment Laser Devices
2) By Technology: Invasive, Non-Invasive, Minimally Invasive, Other Technologies
3) By Distribution Channel: Direct Tender, Retail
4) By Application: Anti-Aging and Wrinkles, Facial and Skin Rejuvenation, Breast Enhancement, Body Shaping and Cellulite, Tattoo Removal, Vascular Lesions, Psoriasis and Vitiligo, Other Applications
5) By End User: Clinics, Hospitals, and Medical Spas, Beauty Centers, Home Care
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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