WASHINGTON, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The Global Medical Aesthetics Market size is expected to reach over USD 22.14 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 11.3 % during the forecast period.
Market Synopsis
Manufacturers of Aesthetic Devices are coming up with innovative devices which led to a rise in demand for aesthetic treatments in the past few years. For instance, launch of products which are technologically advanced, for example, non-invasive body contouring systems – it uses fat freezing technology which is likely to create lucrative opportunities in the forecast period, states Vantage Market Research, in a report, titled “Medical Aesthetics Market by Product (Facial Aesthetic Products, Dermal Fillers, Botulinum Toxin, Microdermabrasion), by End User (Clinics Hospitals and Medical Spas, Beauty Centers, Home Care), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Medical Aesthetics Market:
- Medytox, Inc. (South Korea)
- Alma Lasers, Ltd. (Israel)
- Allergan-AbbVie (US)
- Anika Therapeutics (US)
- Cynosure (US)
- Cutera, Inc. (US)
- Fotona d.o.o. (Slovenia)
- El.En. S.p.A. (Italy)
- Galderma (Switzerland)
- Merz Pharma GmbH & Co. KGaA (Germany)
- Johnson & Johnson (US)
Market Dynamics:
Driver: Increasing Adoption of Aesthetic Procedures
Increasing urge to look fit and young has grown the demand for aesthetic treatment in the emerging nations. Aesthetic procedures like, nose reshaping, liposuction, and Botox injections are attracting consumer interest in nations such as South Korea and India. In the past decade, a significant rise has been noticed in the preference for non-invasive and minimally invasive aesthetic procedures over conventional surgical procedures. Minimally invasive alternatives provide various benefits over conventional surgical procedures, for instance, reduced scarring, less pain, and quicker recovery. All these procedures are more economical compared to the conventional surgical procedures.
Restraint: Clinical Complications and Risks Related with these Procedures
In the last two decades, these medical aesthetic procedures have come out to be a popular treatment. The market for Medical Aesthetics has witnessed a substantial growth in the aesthetic treatments demand due to the increase in the number of surgeons and doctors providing effective and safe treatments and also the launch of products which are technologically advanced. However, these procedures are related with numerous possible side-effects. People undergoing these aesthetic treatments can face various complications and risks during or after the procedure.
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Regional Trends
North America is likely to account for the highest market share of the medical aesthetics globally, and this trend is anticipated to continue in the coming years. However, Asia Pacific is likely to witness the fastest growth rate in the coming years owing to increasing consumer awareness and rising interest in these procedures, aggressive marketing strategies by leading European and US companies in Asia Pacific, rising medical tourism, are some of the major factors which are stimulating the medical aesthetics market growth in Asia Pacific.
Recent Developments
- Nov, 2020: AbbVie acquired Allergan to form a global segment—Allergan Aesthetics in order to improve its medical aesthetics product line.
- Jan, 2019: HRA Pharma acquired Merz to enhance its product portfolio in surgical medical aesthetics.
COVID-19 Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Medical Aesthetics Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Medical Aesthetics Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
This market titled “Medical Aesthetics Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 10.46 Billion |
| Projected Market Size in 2028 | USD 22.14 Billion |
| CAGR Growth Rate | CAGR of 11.3 % from 2022–2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Product: - Facial Aesthetic Products, Dermal Fillers, Botulinum Toxin, Microdermabrasion, Chemical Peels, Body Contouring Devices, Nonsurgical Fat Reduction Devices, Cellulite Reduction Devices, Liposuction Devices, Cosmetic Implants, Breast Implants, Silicone Implants, Saline Implants, Facial Implants, Gluteal Implants, Hair Removal Devices, Laser Hair Removal Devices, IPL Hair Removal Devices, Skin Aesthetic Devices, Laser Resurfacing Devices, Nonsurgical Skin Tightening Devices, Micro-needling Products, Light Therapy Devices, Tattoo Removal Devices, Thread Lift Products, Physician-dispensed Cosmeceuticals and Skin Lighteners, Physician-dispensed Eyelash Products, Nail Treatment Laser Devices, Medical Aesthetics End User: - Clinics Hospitals and Medical Spas, Beauty Centers, Home Care |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Medical Aesthetics Market?
- How will the Medical Aesthetics Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Medical Aesthetics Market?
- What is the Medical Aesthetics market drivers and restrictions?
- What will be the CAGR and size of the Medical Aesthetics Market throughout the forecast period?
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