LONDON, June 14, 2022 (GLOBE NEWSWIRE) -- Soaring demand for the various aesthetic procedures in reconstruction surgeries that typically follow severe burns, or trauma, is expected to heavily contribute toward the growth of medical aesthetics market worldwide. The latest Fairfield Market Research report suggests that the role of mounting chronic disease prevalence will remain an indirect driving force behind the progress of global medical aesthetics market as the rate of adoption of aesthetic procedures remains notably high for chronic disease management.
The report forecasts global medical aesthetics market to reach over US$14 Bn in revenue by 2022 end, further exhibiting more than 13.9% growth toward the end of 2027. Hospitals remain the dominant end-use segment, whereas liposuction is all set to retain its lead as the most sought-after offering in the market.
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Increasing Expenditure on Physical Aesthetics to Whip up New Business Opportunities
Growing consumer consciousness regarding their physical appearance and increasing spending on the same will particularly be responsible for the perpetually rising demand for aesthetic procedure, says the report. In addition, greater adoption of advanced techniques, and surging boom around digital aesthetics are likely to drive market growth. With increasing consumer preference for minimally invasive, as well as non-invasive aesthetic procedures that render a better physical appearance, better business opportunities are expected to spring up in the market over the next few years. Growing interest of geriatric population around the benefits of aesthetic procedures is further set to induce an upsurge in adoption.
Lack of Trained Aesthetics Professionals to Prevail as the Key Challenge to Market Growth
While the medical aesthetics industry is budding, it remains challenged by the potential surgical risks that are otherwise commonplace. Dearth of professionally trained and certified medical aesthetics professionals, and ample registered cases of unlawful acts continue to add to the scepticism of consumers. Moreover, the associated clinical risks, potential complications, severe lack of research, inadequate awareness efforts, high reoperation costs, and the lack of insurance coverage will further prevail as the longstanding impediments facing medical aesthetics market.
Asia Pacific Poised for a Strong Rise Despite Dominance of North America
North America, the global leader, is likely to surpass the valuation of US$10.5 Bn toward the end of forecast period. Although North America’s primacy will prevail throughout the course of assessment, the report projects the rise of maximum opportunity in the developing world. The fast-developing Asian economies are expected to contribute toward the growth of market in Asia Pacific to a large extent. While the region is poised for more than 15% growth by 2027, the revenue is likely to exceed US$8.4 Bn.
Growing lucrativeness of Asian markets is clearly attributable to consistently improving consumer awareness regarding the benefits of medical aesthetics, and availability of aesthetics specialties across the region. The strong rise in medical tourism, aggressive marketing by industry players, and rising spending of physical aesthetics will further give a collective push to market growth here. The volume of medical aesthetic surgeons across the key nations is also expected to uphold the opportunistic potential of Asia Pacific. Surging popularity of aesthetic procedures among new untapped demographics, especially in nations like India, and China will further spur the expansion of market here.
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Major Players in Global Medical Aesthetics Market
The medical aesthetics market report intends to reveal some of the most exclusive insights into the key competitors steering the market competition. While the detailed strategic profiling and analysis intend to offer information about how the competition would unfold and what would be the key strategies of industry leaders, some of the profiled names include Cynosure, Galderma SA, Candela Medical, Cutera, Inc., Lumenis Ltd, Moller Medical, Merz Pharma GmbH & Co. KGaA, Sientra, Inc., Mentor Worldwide LLC, and Solta Medical.
REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Product Type | • Liposuction • Eyelid Surgery • Tummy Tuck • Breast Augmentation • Nose Reshaping • Dermal Fillers • Chemical Peel • Microdermabrasion • Laser based Enhancements • Ultrasound Based Antiaging • Others |
| End User Type | • Hospitals • Dermatology Clinics • Home Settings • Beauty Spas |
| Geographical Coverage | • North America • Europe • Asia Pacific • Rest of the World (RoW) |
| Leading Companies | • Allergan, Inc. • Candela Medical • Cynosure • Cutera, Inc. • Galderma SA • Lumenis Ltd • Merz Pharma GmbH & Co. KGaA • Moller Medical • Sientra, Inc. • Solta Medical • Mentor Worldwide LLC • Others |
| Report Highlights | Key Market Indicators, Market Estimates and Forecast (Value), Market Dynamics, Regulatory Guidelines, COVID-19 Impact Analysis, Regional and Country Insights, Competitive Landscape, Company Profiles. |
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