The global medical aesthetics market valued USD 9.8 billion in 2019. The medical aesthetics market is projected to register growth at a CAGR of 10.1% during the forecast period.
COVID-19 has affected all the businesses across the world. COVID-19 has disrupted medical aesthetics market. The supply chain of luxury and beauty sector has very much affected due to lockdown and restriction over movement. The supplying of raw material and delivering finished products to the end user timely. The negative growth is estimated to be short-term which is mainly due to decline in demands and limited product supply. The medical aesthetics market is estimated to foresee growth in the latter phase of forecast period.
For more details, visit: Global Medical Aesthetics Market By Product Type(Facial Aesthetics, Cosmetic Implants, others), By Technology (Invasive, Non Invasive, Others), By End User (Beauty Centers, Home Care, Others), By Region–Forecast & Opportunities to 2026
The minimally invasive and noninvasive procedures are more preferred than the traditional surgical procedures. Minimally invasive are the non surgical alternatives which have several merits such as reduced scarring, less pain and quick recovery. The minimally invasive procedures are more economically feasible than traditional one. These factors are likely to drive the growth of medical aesthetics market during forecast period.
On the basis of product the medical aesthetic market has been segmented into facial aesthetics, body contouring device, cosmetic implants, skin aesthetics device, physician-dispensed cosmeceuticals & skin lighters, physician-dispensed eyelash products, hair removal device, tattoo removal device, nail treatment laser device and thread lift products. The facial aesthetics segment accounted for maximum market share of XX% in 2019. The growing number of patients in facial aesthetics segment has driven the market towards growth. This segment is expected to register highest growth during the forecast period.
Based on the technology, the medical aesthetics market is segmented into non invasive, invasive and minimally invasive. The non invasive procedures accounted for maximum market share in 2019. It is expected to register growth at highest CAGR during the forecast period. The demand for non invasion procedures has been increasing rapidly. Thus, drives the market towards growth during forecast period.
Based on the end-user, the medical aesthetics market is segmented into beauty centers, hospitals, clinic & medical spas and home care. The hospitals, clinic & medical spas segment is accounted for the maximum market share in 2019. It is projected to register growth at highest CAGR during the forecast period. The number of medical spas and clinics are increasing worldwide and financial and infrastructure resources are available at large scale in hospitals. Hospitals have technologically advanced devices, skilled professional and trained staff. All these factors drive the market to foresee growth during forecast period.
North America region accounted for maximum market share in 2019. This region is estimated to continue its dominance and register growth at highest CAGR during the forecast period. The demand for medical aesthetics has been increasing rapidly. The consumers taking interest in this market and they are becoming more appearance conscious and relying on invasion and non invasion procedures than tradition procedures. Thus, drive growth in medical aesthetics market.
The key market players in medical aesthetics market are Alma lasers, Cutera Inc., Allergan-AbbVie, Anika Therapeutics, Cynosure, El.En. S.p.A., Galderma, Fotona d.o.o, Johnson & Johnson, Merz Pharma GmbH & Co. KGaA, medytox Inc., Sientra, Huadong medicine and Syneron Medicine.
- What are the expected industry trends over the next three to five years?
- Which of the medical aesthetics product type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?