Growing Acceptance of minimally invasive & non-invasive treatment is a significant factor estimated to stimulate market growth.
Aesthetic Medicine Market Size – USD 11.32 billion in 2018, Aesthetic Medicine Market Growth - CAGR of 9.7%, Aesthetic Medicine Market Trends – Increasing adoption among men along with millennial and people of the younger generation.
NEW YORK, May 07, 2019 (GLOBE NEWSWIRE) -- The global aesthetic medicine market is expected to reach USD 24.00 Billion by 2026, according to a new report by Reports and Data. Aesthetic Medicine is an emerging field intended for the use of minimally cosmetic invasive and non-invasive treatments to improve patients' contentment with their physical appearance.
Increase in demand for non-invasive cosmetic surgeries, growing incidences accidents and trauma cases, rising prevalence of congenital face and tooth abnormalities, technological innovations, growth in aesthetic awareness programs, including breast reconstructive awareness campaign (launched in the U.S.), high incidence of breast cancer, and rise in number of cosmetology surgeons are anticipated to propel the market growth during the forecast period.
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Advancements in surgical along with non-surgical aesthetic treatments is expected to drive the market demand in the upcoming years. Accessibility of advanced aesthetic devices that provide effective, time-saving and minimally invasive treatment is likely to be causative of the increasing acceptance of such devices. Massive investments in R&D to come up with innovative products and technology is further forecasted to drive market growth.
Increasing demand for aesthetic treatment among the rapidly growing elderly population base will also serve a significant driver to the market. The American Society of Plastic Surgeons studied that, in 2016, approximately 85,000 facelift procedures were performed in the U.S. population aged 55 years and above. Besides, increasing prevalence of obesity in developed, as well as developing countries, will boost the demand for body contouring procedures and as a result propelling the market growth.
The high cost of aesthetic treatment, as well as poor reimbursement coverage, may create hindrances in the growth of the market during the forecast period.
Further key findings from the report suggest
- Anti-wrinkle products contributed to the largest market share with a share of around 50% in 2018 and are expected to grow at a rate of 9.6% in the forecast period. Factors including widespread awareness about availability of these products, minimally invasive and non-invasive procedures, are attributed to the market dominance of this segment.
- Aesthetic hospitals and clinics segment dominated the global market, in terms of revenue, in 2018, and is projected to have a significant growth rate in the forecast period. High cost associated with the professional devices, strict legislative guidelines for usage, and the prerequisite of skilled professionals are some factors responsible for the growth of this segment.
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- The North America region led the market with around 40% market share in 2018. This market dominance can be attributed to the strong presence of leading medical device manufacturers. North America would continue to dominate the market throughout the forecast period owing to the higher purchasing power of the consumers, an increased emphasis on innovation, and a rising number of aesthetic companies operating out of the U.S.
- Additionally, an increase in the number of geriatric population and a high number of consumers looking for ways to delay or reverse signs of aging are other factors driving the market growth in North America.
- Key participants include Allergan Inc., Galderma SA, Alma Laser, Cynosure, Johnson & Johnson, Lumebis, Solta Medical Inc, Syneron Medical Ltd., Hologic Inc., and Dentsply Sirona Inc. among others.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global aesthetic medicine market on the basis of product type, application, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2016-2026)
- Energy-Based Devices
- Aesthetic Laser Devices
- Body Contouring & Skin Tightening Devices
- Microdermabrasion Devices
- Ultrasound Devices
- Implants
- Dental Implants
- Breast implants
- Facial Implants
- Others
- Anti-Wrinkle Products
- Botulinum Toxin/BOTOX
- Dermal Fillers
- Chemical Peel
Application Outlook (Revenue, USD Million; 2016-2026)
- Surgical
- Non-Surgical
End-user Outlook (Revenue, USD Million; 2016-2026)
- Medical Spas & Beauty Centers
- Hospitals & Clinics
- Home Use
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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