Westford, USA, July 11, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global medical aesthetics market will attain a value of USD 35.6 Billion by 2031, with a CAGR of 10.1% during the forecast period (2024-2031). The medical aesthetic market is witnessing a boom due to the wide range of products and services offered. This is because there is continuously rising acceptance of cosmetic treatment methods enabling society to move with different sets of norms or priorities. Hence, the growth of medical innovations provides individuals who might fear conventional cosmetic surgeries with a lot of hope which is driving the market.
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Browse in-depth TOC on "Medical Aesthetics Market"
- Pages – 263
- Tables - 146
- Figures – 78
Medical Aesthetics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 14.4 Billion |
| Estimated Value by 2031 | $ 35.6 Billion |
| Growth Rate | Poised to grow at a CAGR of 10.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Procedure and End-User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increasing Popularity of The Elective Aesthetic Procedures |
| Key Market Drivers | Growing Focus on Preventative and Personalized Aesthetics |
Expanding Spending Capacities Leads the Facial Aesthetic Segment in this Market
The facial aesthetic occupied the largest share of products in the medical aesthetics market and is projected to register the highest CAGR between 2024 and 2031, owing to the growing popularity of facial aesthetic treatment, augmented spending power because of growing disposable income, and because of the elderly population across the globe. Precise diagnostics have been improving due to the increasing adoption of advanced tools. Increased demand for enhanced sensitivity will be outsourced for growth in the segment.
Body Contouring to be the Booming Segment Amidst Growing Demand for Aesthetic Body Appearances
Body contouring devices is the fastest growing segment due to the rising demand for non-invasive body sculpting procedures. These procedures are becoming popular as they target localized fat deposits and help in improving body shapes without surgeries. The rising desire for aesthetic body enhancements further contributes to the market growth. Additionally, the advancements in technologies help in enhancing the aesthetic appearance by providing pain free procedures, therefore contributing to the growth of the market.
North America Continues to be the Leading Market to the Increasing Cosmetic Procedure Uses
North America held the largest of the medical aesthetics market revenue share in 2023 and will likely retain the same during the forecast period due to the improved healthcare infrastructure, usage of cosmetic procedures, increasing skin disorders, availability of advanced technologies, and the availability of board-certified and professional cosmetic surgeons in the region. The US and Canada are the largest contributor to the regional market. The expansion of the applications within the healthcare sector is driving the regional growth.
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Medical Aesthetics Market Insights:
Drivers
- Growing Focus on Preventative and Personalized Aesthetics
- Rising Disposable Income and Aging Population
- Rise of Medical Tourism
Restraints
- Strict Regulatory Approvals add Complexity to the market Growth
- Limited Insurance Coverage and Lack of Reimbursement
- Shortage of Qualified Practitioner and Inadequate Training Programs Restrict Quality Services
Prominent Players in Medical Aesthetics Market
The following are the Top Medical Aesthetics Companies
- Lutronic
- AbbVie Inc.
- Cynosure
- Vennus Concept
- Evolus Inc.
- Galderma
- Lumenis
- Medical Device Business Services, Inc.
- Solta Medical
- Cutera
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Key Questions Answered in Medical Aesthetics Market Report
- What was the market size of the Medical Aesthetics Market in 2023?
- What are the key drivers and opportunities in the Medical Aesthetic Market?
- Which Region is the fastest growing region in the Medical Aesthetics Market and why?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of medical aesthetics market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the medical aesthetics market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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