Boston, Massachusetts,, June 20, 2023 (GLOBE NEWSWIRE) -- Medical Aesthetics Market Overview:
The market is exhibiting at a CAGR of 11.8% during the forecast period (2023-2030). The global medical aesthetics market is anticipated to rise throughout the forecast period due to increasing beauty consciousness and technological advancements.
The growth in the medical aesthetics market is due to the growing adoption of minimally invasive and non-invasive aesthetic procedures. The global medical aesthetics market is segmented on the basis of product, application, end-user, and region. North America region is expected to hold the largest medical aesthetics market share. Major players in the medical aesthetics market include Allergan plc, Alma Lasers Ltd., Cutera Inc., Cynosure, Fotona d.o.o, Merz Pharma GmbH & Co., Sientra Inc., Sinclair Pharma PLC, Syneron Medical Ltd., and Bausch Health Companies Inc.
Medical aesthetics encompasses all medical therapies aimed at enhancing patients' visual appearance. Medical aesthetics occupies a little enclave between the beauty industry and plastic surgery. A qualified doctor, nurse, or dentist may give a plethora of outstanding enhancements to an individual's look. These modifications need a high level of ability, experience, and knowledge of human anatomy and physiology.
This is what distinguishes medical aesthetic treatments from cosmetic procedures such as brow threading, waxing, or eyelash extensions. Non-surgical cosmetic treatments, also known as medical aesthetic therapies, are less invasive compared to surgical interventions. These treatments typically include procedures like facelifts, breast augmentations, and liposuction.
Medical Aesthetics Market Drivers:
The sole objective of aesthetic surgery in the aging population is to improve psychological well-being by improving or modifying their body image. The normal body structures are reshaped to accomplish this goal. The aesthetic surgery has successfully improved the quality-of-life-index and reduced depression amongst the elderly population.
The growth of the aging population globally has led to the growth of the medical aesthetics market. There has been massive growth in the looks industry in recent years, and the aging population has been one of the drivers in this process. The superficial goal of the perfect body depicted by mass media is a major reason for its growth. People's obsession with looking more youthful leads to various breakthroughs in the aesthetic market.
Medical Aesthetics Market Restraints:
Every medical aesthetics company, no matter how big or small or which market it covers, must adhere to the regulatory requirements. Medical aesthetics is under stringent government regulations. The manufacturers of medical aesthetic devices and products must go through various testing levels before the final validation. Complying with the FDA's standards requires specialized skill sets, resources, time, and money. Medical aesthetics are subjected to pre-market approval application (PMA) per the Federal Food, Drug, and Cosmetic Act (FFDC) and its regulations.
Medical Aesthetics Market Opportunities:
The standard of living in developing countries such as India, Brazil, South Africa, Thailand, and many others has improved in the past decade. People opt for different aesthetic surgeries to maintain themselves, giving them better results without stressful physical efforts. The global medical aesthetics market remains unexplored in many countries, but the increase in awareness about it amongst emerging countries is leading to its further growth.
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Russia-Ukraine Conflict Analysis:
The conflict between Russia and Ukraine has had a significant impact on the medical aesthetics industry, with disruptions in supply chains, economic instability, decreased tourism and medical tourism, disruption of healthcare infrastructure, and a psychological impact on the population.
The situation in Ukraine will have a variety of effects on performing clinical trials of cosmetic products, and it mainly affects the closure of treatment facilities. The war is expected to have an effect on the contribution of Russian clinical trial sites. The medical aesthetics market in both regions is totally reduced due to conflict issues.
Recent Developments in the Industry:
- In May 2023, Reveal Lasers, a leader in energy-based technology for medical and aesthetic procedures, announced the acquisition of Med Rep Meeting, a startup company that arranges meetings for medical representatives in industries including medical aesthetics. This acquisition will allow Med Rep Meeting to act as the inside sales team for Reveal Lasers, enhancing the efficiency and productivity of Reveal Lasers' sales reps in the field.
- In February 2022, Merz Pharma announced the launch of the new Radiesse + Lidocaine injectable implant. This implant is used as a deep injection for soft tissue expansion to cure moderate to severe loss of jawline shape in adults over the age of 21. The implant is the first injectable treatment for jawline contour improvement.
- In January 2023, L Catterton, a market-leading consumer-focused investment firm, announced that its portfolio company FYihealth Group had completed the previously announced merger of its Medical Aesthetics division with Functionalab Group. The merged company will continue as Functionalab Group and operate as the largest aesthetic medicine network in Canada across 68 premium clinics.
Medical Aesthetics Market Segmentation:
As per the research analysis, the global medical aesthetics market is segmented by product into body contouring devices, aesthetic lasers, skin tightening devices, facial aesthetic devices, implants, and others; by application into carbon peel, tattoo removal, skin resurfacing, hair removal, scar treatment, and others; by end-user into hospitals, dermatology clinics, medical spas, and beauty centers.
- Based on the product, the skin-tightening devices segment is expected to dominate the market share during the forecast period due to the effectiveness of skin-tightening devices. The effectiveness of the devices can vary depending on individual factors, such as skin condition, age, and the degree of skin laxity. The selection of an appropriate device and treatment approach should be determined by a qualified medical professional based on individual needs and expectations.
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Medical Aesthetics Market Geographical Analysis:
The global medical aesthetics market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
North America Medical Aesthetics Market:
North America holds the largest market share in the medical aesthetics market due to its advanced healthcare infrastructure, characterized by state-of-the-art facilities, advanced technologies, and high-quality medical services.
It has a vast network of hospitals and medical centers, research and academic institutions, technological advancements, specialized centers of excellence, healthcare insurance and coverage, health information exchange systems, regulatory standards and quality assurance, telemedicine and digital health solutions, and virtual consultations, remote monitoring, mobile health apps, and telehealth platforms.
These facilities provide a wide range of specialized services and provide access to the latest medical advancements.
Competitive Landscape:
The major global players include Allergan plc, Alma Lasers Ltd., Cutera Inc., Cynosure, Fotona d.o.o, Merz Pharma GmbH & Co., Sientra Inc., Sinclair Pharma PLC, Syneron Medical Ltd., and Bausch Health Companies Inc.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
- Visualize the composition of the global medical aesthetics market by product, application, end-user, and region, highlighting the key commercial assets and players.
- By Product: Body Contouring Devices, Aesthetic Lasers, Skin Tightening Devices, Facial Aesthetic Devices, Implants, Others
- By Application: Carbon Peel, Tattoo Removal, Skin Resurfacing, Hair Removal, Scar Treatment, Others
- By End-User: Hospitals, Dermatology Clinics, Medical Spas, Beauty Centers.
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global medical aesthetics market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as Porter's five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global medical aesthetics market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in Excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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