Detailed Qualitative & Quantitative Analysis Medical Aesthetics Market
Medical aesthetics devices are used to improve the cosmetic appearance through the treatment of conditions such as liver spots, excess fat, scars, skin laxity, wrinkles, moles, cellulite, unwanted hair, spider veins, and skin discoloration. The global Medical aesthetics market is estimated to grow at a CAGR of 10.8% from 2016 to 2021 to reach USD 13.29 Billion by 2021. Key factors such as the growing adoption of non-invasive procedures, growth in aging population, increasing awareness among customers, technological advancements in energy-based medical aesthetics devices, and increasing demand for aesthetic treatments among the male population are driving the growth of the aesthetic devices market. However, stringent safety regulations for aesthetic procedures, social stigma associated with cosmetic treatments, and low focus of market players on developing medical aesthetic devices for dermatological conditions are restraining the growth of this market. Based on product, the medical aesthetics market is categorized into energy-based devices, breast implants, facial aesthetics, tattoo removal, physician-dispensed cosmeceuticals and skin lighteners, physician-dispensed eyelash products, thread lifting, laser resurfacing devices, and laser hair removal. The facial aesthetics segment is expected to account for the largest share of the medical aesthetics market in 2016. The large share of this segment can be attributed to the growing patient demand for facial aesthetic treatments, increasing demand of non-invasive cosmetic procedures, launch of new products, and growth in aging population. On the basis of end user, the market is segmented into clinics plus medical spas and beauty centres. The clinics and medical spas segment is estimated to register the higher CAGR from 2016 to 2021. The high growth of this segment is primarily attributed to the growing number of clinics and medical spas and increasing number of skilled professionals to perform the aesthetic procedures, rapidly increasing aging and obese population across the globe, increasing preference for minimally invasive and non-invasive aesthetic procedures. In 2016, North America is expected to account for the largest share of the global medical aesthetics market, followed by Europe. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, owning to key factors such as rising consumer awareness and interest in aesthetic procedures, aggressive marketing by leading U.S. and European companies, and rising medical tourism in the region. Over the past three years, a number of market players, including Cynosure, Inc. (U.S.), Syneron Medical Ltd. (Israel), Allergan, Inc. (U.S.), and Galderma S.A. (Switzerland) have strategically expanded their presence in emerging Asia-Pacific countries to leverage the high growth potential in the region.
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