Medical Aesthetics Market size is estimated to reach $17.12 Bn by 2025 and is poised to grow at a CAGR of 10.63% during the forecast period 2020-2025. The term Medical Aesthetics is referred to as a branch of medicine that focuses primarily on procedures and techniques to improve and enhance the appearance, texture, and contours of the skin, face, and body. This branch covers the treatment of scars, moles, liver spots, excess fat, wrinkles, skin looseness, unwanted hair, cellulite, poker, and skin discoloration. Factors such as the increasing acceptance of aesthetic medicine among the geriatric population and the increasing use of minimally invasive and non-invasive aesthetic procedures are driving the market over the forecast period (2020-2025).
Medical Aesthetics Market Segment Analysis - By Product
The global Medical Aesthetics market based on the Product has Facial Aesthetic Products, body contouring devices, cosmetic implants, Hair removal and Skin aesthetic devices, Tattoo removal devices and others. The facial cosmetics segment is projected to have the largest share of the medical aesthetics market in 2019 and is set to continue over the forecast period (2020-2025). This is attributed to the growing demand for facial aesthetic treatments, the increase in disposable income and spending capabilities, and the growing population of the elderly. The growing female working population, attractive and optimized treatment outcomes continue to be key factors in the growth of the aesthetic segment of the face.
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Medical Aesthetics Market Segment Analysis - By End Use
Based on End-use, the market is classified into Clinics, Hospitals, Medical spas, Beauty centers and Homecare. Clinics, hospitals and spa segments are projected to account for the largest share of the global medical aesthetics market in 2019. This end-user segment is also projected to be the fastest growing end-user segment in the forecast period 2020-2025, with an increasing number of clinics and spas and the high availability of financial and infrastructural resources in hospitals, including technologically advanced equipment, trained staff and aesthetic procedures. Beauty centers are projected to have a significant share of the global aesthetic market owing to factors such as the growing number of beauty centers and the growing consumer awareness of skin diseases.
Medical Aesthetics Market Segment Analysis - By Geography
North America is estimated to have the largest share of the medical aesthetics market in 2019, and this trend is set to continue over the forecast period 2020-2025. However, the Asia-Pacific region is projected to have the highest growth rate over the forecast period 2020-2025. Interest in consumer knowledge and procedures, a strong local economy, aggressive marketing by leading Asian companies in the U.S. and Europe, growing medical tourism, and increasing aesthetic awareness are among the key factors in the growth of the Asia-Pacific medical aesthetics market.
Medical Aesthetics Market Drivers
Rise in awareness and Consumer expenditure
The growing awareness of advanced products and minimally invasive procedures around the world, as well as the growing demand for cost-effective aesthetic medicine and cosmetic surgery, are the main factors for individuals to anticipate growth in the target market. In addition, there is an increase in consumer spending on aesthetic drugs around the world and a growing demand for surgical interventions, especially among the working population, resulting in increased demand for aesthetic medicine in various countries.
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Medical Aesthetics Market Challenges
Clinical risks and complications
Medical aesthetic procedures have a variety of possible side effects. Patients who have undergone aesthetic treatments may face a number of risks and complications after or during the procedure. This is likely to hinder market growth over the forecast period 2020-2025.
Medical Aesthetics Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Medical Aesthetics Market. Key companies of this market include Allergan-AbbVie, Alma Lasers, Ltd., Anika Therapeutics, Cutera, Inc., Cynosure, El.En. S.p.A., Fotona d.o.o., Galderma, Johnson & Johnson, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., Sientra, Inc., Sinclair Pharma PLC, Syneron Medical, Ltd., and Baush Haealth.
Acquisitions/Product Launches:
In November 2019, AbbVie acquired Allergan to form a global segment—Allergan Aesthetics in order to improve its medical aesthetics product line.
In January 2019, HRA Pharma acquired Merz to enhance its product portfolio in surgical medical aesthetics.
Key Takeaways
Geographically, North America had the largest market for Medical Aesthetics in 2019, owing to the advanced health infrastructures and the development of surgical and medical techniques in the countries of these regions.
Growing adoption of minimally invasive and noninvasive aesthetic procedures is driving the market over the forecast period (2020-2025).
Health risks associated with aesthetic medicine and reimbursement policies are some of the main factors that are estimated to hinder the growth of the target market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Medical Aesthetics Market report.
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