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| The global medical aesthetics market is expected to grow at a CAGR of 13.71% during 2022-2027 | ||
| By: PR Newswire Association LLC. - 23 Nov 2022 | Back to overview list |
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NEW YORK, Nov. 23, 2022 /PRNewswire/ -- The global medical aesthetics market is expected to grow at a CAGR of 13.71% during 2022-2027. Read the full report: https://www.reportlinker.com/p06364038/?utm_source=PRN MARKET INSIGHTS The global medical aesthetics market trends include consumers seeking aesthetic procedures starting at a younger age, an uptick in men seeking cosmetic enhancement procedures, and an increasing preference for non-invasive cosmetic procedures instead of cosmetic surgery. The market is witnessing the launch of many advanced and innovative devices and products from global, regional, and local vendors. Facelifts, liposuction, botox & neuromodulators, skin resurfacing, and intense pulse light procedures are witnessing high demand from various age groups. Medical aesthetics treatment focuses on treating and improving the appearance of the patient skin & body. Medical aesthetics treatments are not as aggressive as surgical interventions; they include minimally invasive and non-invasive surgical procedures that enhance the body shape, skin texture, and other benefits. It required high skills, knowledge, and training in human anatomy and physiology. The global medical aesthetics industry has changed in the past few years, with the overall demand for cosmetic treatments trending in a single direction; on another side despite the barriers and restrictions on cosmetic procedures significantly imposed by the COVID-19 pandemic, there was still a healthy rise of 3% from 2019. This reveals that the preference for improving appearance is strong, and there are enormous opportunities for the medical aesthetics market in the coming years. New Medical Aesthetics Launched in the Medical Aesthetics Market • In 2022, newly launched treatment such as Ellacor dermal micro-coring is becoming more popular for lines and laxity. In the global medical aesthetics market, platelet-rich plasma is a highly popular cosmetic injectable medical treatment that helps nurture the skin appearance in aged people due to the ability to naturally rejuvenate the skin and repair and treat the aging sign by using the patient’s platelet-rich blood cells. This procedure has become more trending in recent years. In addition, the safety and rapid result ability deliver significant market growth opportunities for key players. Several factors play a vital role in the rising demand for PRP like in cosmetic procedures, PRP is applicable for hair loss and skin rejuvenation. In hair loss, PRP is commonly used for treating male pattern baldness for both purposes, such as hair loss prevention and promoting new hair growth. Dermatologists and plastic surgeons highly recommend the PRP procedure in high-income countries to improve skin appearance and overall health. The advancement in medical aesthetics procedures will expect to achieve significant market growth. The medical aesthetics market is overgrowing with aesthetic dermatology sectors, including innovations in botanical blends in hair care, skincare, and others. The procedures, methodologies, and systems applied for dermatology procedures in the past were completely different from recent years. The significant changes in dermatology care and advancement in technology in skincare and medical aesthetics paved the direction for innumerable procedures that reduced the side effects. Laser applications are highly adopted for treating gentle vascular birthmarks, haemangioma, and other skin issues. MARKET TRENDS & OPPORTUNITIES The Surge in Demand for Minimally Invasive & Non-invasive Aesthetic Procedures • The demand for minimally invasive procedures increased significantly in recent years across all demographics. In addition, non-invasive treatments are a more accessible entry point in the medical aesthetic market for men and young people who are highly curious about their appearance and well-known about medical aesthetics. It indicated that the non-invasive procedures are a good fit for many consumers due to their affordable cost, low downtime, and lower risk. • Over the decade, the rising awareness about medical aesthetic solutions and increasing expenditure on personal care/cosmeceutical significantly induced medical aesthetics market growth. In 2022, the Aesthetic Society report revealed that the increasing expense for aesthetic solutions had given high market growth in recent years. People spent approximately USD 9.3 billion on aesthetic procedures in 2020. Of that, around USD 3 billion was registered for non-invasive treatment and USD 6 billion for invasive treatments. From 2019 to 2020, the expenditure for aesthetic procedures increased to almost 80%. In 2019, approximately USD 8.2 billion was spent on aesthetic procedures. This significant growth shows the rising expenditure and awareness about medical aesthetic procedures. • The youth and aging population are the primary users of medical aesthetics treatment. These treatments to combat aging have emerged from anti-aging creams to approved cosmetic procedures. Currently, more and more young population are turning to cosmetic and aesthetic procedures to prevent their bodies from aging. Medical Tourism Contributing to Surge in Medical Aesthetic Procedures • Medical tourism is expanding globally, with patients seeking cosmetic surgery abroad. The changes caused by the globalization of medical services, the shift of lifestyle with displaying a healthy lifestyle, attention to the figure, and well-being associated with external appearance, combined with the willingness to travel, have given rise to a new segment of health tourism, that is aesthetic medicine tourism. SEGMENTATION ANALYSIS The medical aesthetics market by procedure type includes non-invasive and minimally invasive cosmetic procedures aimed at improving the physical appearance and satisfaction of the target patient. The minimally invasive procedure segment accounts for 57.14% highest market share, and non-invasive procedures account for 42.86% market share in 2021. Minimally invasive and non-invasive aesthetic procedures are trending and widely accepted globally, owing to fewer surgical interventions, low downtime, less pain, and high safety/efficacy. Segmentation by Procedures INSIGHTS BY PRODUCT The global medical aesthetics market by product type is dominated by the body contouring devices segment and accounts for a 27.38% market share. The market is by product type segments into body contouring devices, laser & energy-based devices, cosmetic implants, derma fillers & neuromodulators, micro-needling & chemical peels, microdermabrasion, and others (thread lift and skin lighteners). The increasing number of minimally invasive medical aesthetic procedures drive the segmental growth to reduce fat and body shaping and accelerate the higher segmental growth in 2021. Behind body countering devices, lased and energy-based devices accounted for a 21.86% market share and indicated rapid industry growth. Segmentation by Product INSIGHTS BY APPLICATION Body contouring & cellulite reduction, skin tightening and resurfacing, facial aesthetics, breast augmentation, and others are the key segments by application in the global medical aesthetic market. In which body contouring & cellulite reduction application segment accounted for a 30.58% market share. The increasing demand for fat reduction, cellulite reduction, and liposuction procedures drives segmental growth. Skin tighteners and resurfacing are also becoming more popular in recent years, which is expected to achieve significant growth in the upcoming time. Segmentation by Application INSIGHTS BY END-USERS The global medical aesthetics market is segmented into hospitals & skin clinics, medical spas & beauty centers, and homecare on end-users basics. In 2021, hospitals and skin clinics accounted for a 55.24% market share, dominating the other segments. The increasing demand for minimally invasive and non-invasive procedures and rising awareness drive the high hospital visits and fuel segmental growth. Also, medical aesthetic treatments show easily accessible and deliverable advancements in hospitals and clinics, which drives segmental growth. Segmentation by End-Users GEOGRAPHICAL ANALYSIS Segmentation by Geography VENDOR LANDSCAPE The global medical aesthetics market is highly competitive and dynamic, with many international, regional, and local vendors offering a diverse range of medical aesthetic procedure products, treatments, and devices to the end-user. Global players such as AbbVie (Allergan), Sisram Medical, Cutera Inc., Lumenis Inc., Bausch & Lomb, and El En Spa are some of the primary industry players that consistently influence the competition in the industry. Key Vendors Other Prominent Vendors KEY QUESTIONS ANSWERED Read the full report: https://www.reportlinker.com/p06364038/?utm_source=PRN About Reportlinker __________________________
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