Medical Aesthetics Market Analysis
The medical aesthetics market is anticipated to expand at an 11.0% CAGR between 2018-2023, states the latest Market Research Future (MRFR) report. Medical aesthetics, simply put, is an area of medicine that deals with the outer appearance, well-being, aesthetics, image, and noticeable skin changes of the patient. It includes advanced technologies and products that aesthetic specialists or skilled medical professionals use to improve the patient’s physical appearance.
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Various factors are propelling the medical aesthetics market growth. Such factors, as per the latest Market Research Future report, include the growing demand for cosmetic procedures, the rising influence of social media, increasing technological advancements, growing medical tourism, increasing adoption of non-invasive and minimally invasive aesthetic procedures, and demand for anti-aging products.
On the flip side, societal hindrances and stigmas, lack of reimbursements, high cost of treatment, and risk and complications related to the procedure may deter the medical aesthetics market growth during the forecast period.
Medical Aesthetics Market Segmentation
MRFR report offers a broad segmental analysis of the medical aesthetics market on the basis of products and end users.
Based on products, it is segmented into nail treatment laser devices, thread lift products, tattoo removal devices, hair removal devices, physician-dispensed eyelash products, aesthetic skin devices, physician-dispensed skin lighteners and cosmeceuticals, cosmetic implants, body contouring devices and facial aesthetic products. Facial aesthetic products are further segmented into microdermabrasion devices, chemical peels, dermal fillers and botulinum toxin. Dermal fillers are further segmented into synthetic and natural dermal fillers. Body contouring devices are further segmented into liposuction devices, cellulite reduction devices and fat reduction devices. Cosmetic implants are further segmented into facial implants, breast implants and other forms of cosmetic implants. Breast implants are again segmented into saline breast implants and silicone breast implants. Skin aesthetics devices are further segmented into light therapy devices, micro-needling products, non-surgical skin tightening devices and laser skin resurfacing devices. Hair removal devices are further segmented into IPL hair removal devices and laser hair removal devices. Of these, facial aesthetic products are anticipated to have the largest share in the market over the estimated years owing to burgeoning demand for facial aesthetic treatments, rising geriatric population and increasing spending capabilities and income.
Based on end user, the medical aesthetics market is segmented into home care settings, beauty centers, clinics, hospitals & medical spas. Of these, clinics, hospitals & medical spas are expected to lead the market and grow at the fastest pace. Factors leading to the growth include high accessibility of infrastructural and financial resources with hospitals such as skilled professionals and trained staff performing aesthetic procedures and growing number of medical spas and clinics.
Medical Aesthetics Market Regional Analysis
By region, the medical aesthetics market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, the Americas will have a mammoth share in the market over the estimated years owing to medical tourism, advancement in technology and increasing health awareness. The US is the key contributor here owing to the growing prevalence of skin diseases, highly developed healthcare infrastructure, increasing use of advanced technologies and soaring demand for quality healthcare. The medical aesthetics market in Europe will have the second major share owing to growing elderly population, changing lifestyle and rising patient population. In the APAC region, the medical aesthetics market is expected to grow at the fastest pace over the predicted years owing to favorable healthcare schemes created by government agencies, growing healthcare expenditure, healthcare reforms for development of infrastructure, rising demand for high-end and advanced technologies and growing elderly population. Quality assurance of diagnostic techniques and awareness programs have added significance in developing economies of India, Sri Lanka, China, Taiwan and Korea. On the other hand, the medical aesthetics market in the Middle East and Africa will have a minimal share in the market owing to low per-capita income and stringent government policies.
April 2019- Leading global aesthetic healthcare player, Novena Global Lifecare has joined hands with Elite Dental Group and Calvin Chan Aesthetic and Laser Clinic. This partnership will help in the creation of novel concepts for cost-effective aesthetics and turbocharging the global footprint of the group in the dental and medical space.
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