The Medical Aesthetics Market is expanding invariably, mainly due to the growing numbers of cosmetic procedures across the world. Growing wellness concerns pushed by the increasing consciousness towards aesthetic looks, worldwide, are increasing the uptake of medical aesthetics in various regions. Moreover, the strong economic background of aesthetic medicine accelerates the market on the global platform.
According to Market Research Future (MRFR), the valuation of the global Medical Aesthetics Market is expected to reach around USD 23,544.18 MN by 2025. In its recent market analysis, MRFR also asserts that the market would register a double-digit CAGR of 12.97% throughout the assessment period (2016 – 2025). Various researches have shown that medical aesthetics are proven to be a safe and effective way to replace physical appearance.
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Additionally, improvements that have occurred in the aesthetic products and procedures are increasingly encouraging their uptake. Also, factors such as the growing population that is increasingly inclined to the wellness and good looks, increasing geriatric populaces, and rapid urbanization, worldwide substantiate the market demand. Improving economic conditions across the globe provides a massive impetus to market growth, enabling access to the quality of life.
On the other hand, inadequate reimbursements for medical aesthetics procedures, especially in the developed economies, are impeding the market growth. Also, the cost of cosmetic procedures obstructs market growth, especially in the developing regions.
Nevertheless, technological advancements likely to take place soon are expected to support the market growth by bringing down the cost of aesthetic products and implants.
Medical Aesthetics Market Segmentations
MRFR has segmented the report into three dynamics to widen the scope of understanding,
By Product: Facial Aesthetic, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices, Tattoo Removal Devices, and others.
By End-user: Hospitals & Clinics, Dermatology & Cosmetic Centers, and others.
By Regions: Asia Pacific, North America, Europe, and Rest-of-the-World.
Medical Aesthetics Market Geographical Analysis
North America may retain its dominance over the global medical aesthetics market. The significant market share attributes to the growing demand for beauty treatments and other anti-aging related cosmetic procedures. Being a well-developed region, North America has the highest GDP in the world, which gives it an advantage over other regions in terms of technology, healthcare, or wellness.
Additionally, growing numbers of aesthetic surgeries are fostering the medical aesthetics market in North America. Moreover, the presence of leading players operating in the aesthetic services market and aesthetic implants market in the region influence the market growth positively. Also, the presence of the vast aesthetician population in the region acts as a key force for regional market growth, impacting the aesthetic industry trends and facial aesthetics market.
Europe stands second in the global medical aesthetics market. The market is predominantly driven by the presence of a large aesthetician populace, fostering the demand for the medical aesthetic devices. Besides, the economic growth in the region propels the market, allowing access to quality life by increasing consumer purchasing power. The penetration of the beauty devices market is another major driving force behind the regional market growth, contributing to the development of the aesthetic thread market.
The Asia Pacific region is emerging as a lucrative market for medical aesthetics. The burgeoning media & entertainment industry, especially in India, drives the significant growth in the medical aesthetics market in the country as well as in the region. Improving economic conditions in the region acts as a significant driving force for the growth of the market in the region, increasing consumer purchasing power.
Vietnam, Thailand, and Malaysia among the other southeast Asian countries are estimated to contribute significantly to the growth of the regional market. Due to the growing medical tourism markets in Malaysia and India, the APAC region will register a substantial growth rate over the assessment period.
Medical Aesthetics Market Competitive Landscape
The global medical aesthetics market appears to be fiercely competitive and fragmented, with many well-established players churning the market competition. To drive a larger market share, brand reinforcement, mergers & acquisitions, and innovation remain popular trends for these key players.
Medical Aesthetics Market Key Players:
Players leading the medical aesthetics market, include Sinclair Pharma PL, Medytox, Inc., Fotona D.O.O., Johnson & Johnson, Solta Medical, Inc., Merz Pharma GmbH & Co. KGaA, Allergan, Syneron Medical Ltd, Cutera, Hologic Inc., Lumenis, Bausch Health/ Valeant Pharmaceuticals, Galderma SA, Anika Therapeutics Inc., and Alma Lasers, among others.
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Industry/ Innovation/ Related News:
FYidoctors (Canada), a leading global optometrist-owned eye care company, announce the acquisition of ReNue(Canada), a chain of doctor-led medical aesthetics clinics to expand into the growing field of medical aesthetics. The acquisition marks a significant growth opportunity for FYidoctors, as it seeks to enter the growing field of medical aesthetics. ReNue provides holistic patient-centric care with a highly refined aesthetic sensibility. Joining the FYidoctors team, ReNue aims to become one of Canada’s leading providers of medical aesthetics services, with plans to expand across Canada.
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