Pune, India, May 20, 2021 (GLOBE NEWSWIRE) --
The global aesthetic medicine market size is anticipated to grow at a significant CAGR during the forecast period owing to the growing percentage of elderly population and the need to look youthful.
Cosmetic procedures have increased by many folds in recent years. These treatments are undergoing constant technological innovations as well to make them as customized and painless for patients as possible as many people today are increasingly opting for non-invasive treatments
Some of the key trends that will increase the overall potential of aesthetic medicine industry are given below:
Power-assisted devices to experience higher demand in North America:
North America aesthetic medicine market is reported to be worth more than $15 billion by the year 2027. Power-assisted devices will show strong growth prospects during the mentioned forecast period. This is because these devices are extensively used in non-invasive procedures. They have undergone several technological advancements, leading to high-quality treatments with greater aesthetic value and minimum invasion and pain.
For example, Abbvie’s subsidiary Allergan, in January 2021, announced the launch of CoolSculpting Elite. The launch of this product strengthened the company’s profile in fat reduction market.
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North America to see rise in surgical procedures:
There are different procedures available in aesthetic medicine market which gives the patients a wide range to choose from. However, the surgical procedure segment will gain tremendous momentum up to 2027. This segment earned valuation of a whopping $2.5 billion in 2020 alone in the regional market and this figure will go higher in the future. One of the reasons attributed for this is the growing need among customers to create permanent changes in their facial features to maintain a youthful appearance for a longer period.
Liposuction and abdominoplasty are some of the many procedures that provide long term and visible results. Liposuction procedures have seen a hike in their demand because of the substantial rise in obesity cases in the U.S.
Male population increasingly opts for aesthetic procedures:
While both males and females opt for aesthetic procedures, it is the male population that will create the highest demand for these treatments in North America. One of the main reasons for this is credited to the growing need among men to remain youthful. There are several procedures like fillers and facelifts that men opt for, to reverse the ageing cycle.
Sedentary lifestyle is seeing a sudden hike among this part of the population, which is leading to various medical disorders like gynecomastia, which causes swelling of the male breast tissue due to hormonal imbalance.
Demand for energy-based devices in Asia Pacific:
Asia Pacific aesthetic medicine market will reportedly be worth more than $7.5 billion by 2027. Energy-based and non-energy-based devices are the different products of market. Out of these, non-energy-based devices will witness increased demand among end-users by 2027. There are several technologies in this segment like radiofrequency and cryolipolysis that are extensively used in various skincare procedures like skin rejuvenation and fat reduction. They are highly non-invasive and cause minimum blood loss as well.
There is rise in awareness among the younger population about the benefits of light-based, laser-based and ultrasound treatments. This form of treatment takes lesser recovery time, produces better results and causes minimal pain and discomfort to the patient.
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Japan’s role in Asia Pacific aesthetic medicine market:
Japan will play a vital role in driving the Asia Pacific market forecast. In fact, the industry size in the country was valued at more than $500 million in 2020. The female population of the country is increasingly opting for aesthetic procedures to look radiant and young. Japan has a predominantly ageing population which is prone to develop saggy skin, fine lines and wrinkles. Many of these people want to defy these signs of ageing by reducing their wrinkles and fine lines with the help of various procedures.
Aesthetic medicines to find increased use in home settings in Europe:
The home settings segment of Europe aesthetic medicine market was valued at more than $500 million in the year 2020. This segment will grow further in valuation during the forecast period of 2021-2027. One of the major reasons cited for this is the growing preference among consumers to use aesthetic products in the comfort of their homes. Today, an increasing number of companies are producing user-friendly products to enable consumers to use them on their own.
On the other hand, products that are used in DIY or home settings are much cheaper than the ones used in clinics and hospitals, prompting more people to opt for them.
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UK aesthetic medicine market to record consistent expansion:
The UK will play a key role in the growth of the Europe market during the forecast period of 2021-2027. In fact, the market in U.K. will witness a growth rate of almost 10.1% CAGR. The population of this country is increasingly opting for plastic surgeries like facelifts, fat reduction and body augmentation due to the intense social media influence. According to a report released by the British Association of Aesthetic Plastics Surgeons (BAAPS) in 2018, liposuction witnessed an increase of almost 9% among both men and women.
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