Top Companies operating in Medical Aesthetics Market profiled in the MRFR report include Allergan plc (Ireland), Merz Pharma GmbH & Co. KGaA (Germany), Lumenis (Israel), Hologic (U.S.), Galderma Laboratories (Switzerland), Bausch Health (U.S.), Anika Therapeutics Inc. (U.S.), Cutera, Inc. (U.S.), Alma Lasers Ltd. (Israel), Syneron Medical Ltd (U.S.)
Pune, India, Feb. 08, 2021 (GLOBE NEWSWIRE) — Medical Aesthetics Market Overview:
Medical aesthetics is a term that describes a medicine branch that primarily focuses on the techniques and the procedures that help boost the overall appearance, contours and texture of the face, skin, and the body.
The Medical Aesthetics Market is set to soar at a CAGR of 8.30% during the forecast period (between 2020 and 2027), to reach USD 38,850.89 million by 2027-end, says MRFR (Market Research Future).
Medical aesthetics branch has a number of treatment processes for moles, scars, excess fat, liver spots, skin laxity, wrinkles, cellulite, unwanted hair, skin discoloration and spider veins. The procedures generally are oral and maxillofacial surgery, reconstructive surgery, dermatology, plastic surgery, and many more. It mainly uses several aesthetic products in terms of medical purposes and facilitates the improvement of the patient’s overall appearance.
Future Market Factors:
Rising urge to remain and look young as well as fit among people has bolstered the need and demand for aesthetic treatments, with the trend emerging rapidly in developing nations. Aesthetic procedures including nose reshaping, Botox injections and liposuction are sparking the interest of consumers in South Korea and India. The mounting preference for noninvasive and minimally invasive aesthetic procedures, geriatric pool emerging as a key end-user and the soaring awareness among the public about the latest cosmetic procedures are expected to benefit the medical aesthetics industry. The soaring number of options of technically innovative and user-friendly devices combined with the surging popularity of medical aesthetic treatment among the men population also seems to be working in favor of the global market.
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Key Players Locking Horns:
The Medical Aesthetics Market is densely concentrated with a number of business giants that are involved in strategic rivalry to capture a higher position. This has resulted in an intensely competitive ambience in the global medical aesthetic industry. Some of the top companies profiled in the MRFR report include:
- Allergan plc (Ireland)
- Merz Pharma GmbH & Co. KGaA (Germany)
- Lumenis (Israel)
- Hologic (U.S.)
- Galderma Laboratories (Switzerland)
- Bausch Health (U.S.)
- Anika Therapeutics Inc. (U.S.)
- Cutera, Inc. (U.S.)
- ALMA LASERS LTD. (Israel)
- Syneron Medical Ltd (U.S.)
Global Medical Aesthetics Market has been studied extensively in the MRFR report, and has been segmented with respect to Product, Technology, and End User.
Global Medical Aesthetics Market, in terms of product, can be considered for body contouring devices, facial aesthetic, hair removal devices, cosmetic implants, tattoo removal devices, skin aesthetic devices, and others.
The global medical aesthetics market, depending on technology, caters to non-invasive, invasive, as well as minimally invasive. Invasive technology took the lead in 2019, with breast augmentation, nose reshaping and liposuction some of the top trending medical aesthetic procedures. The exploding population of not only women but also men desiring improved appearance has raised the demand for liposuction procedures, which triggers the growth rate of the global market.
Some of the key end-users in the global medical aesthetics market include dermatology & cosmetic centers, hospitals & clinics, and others. Dominating the market is the hospitals & clinics segment, by virtue of the expanding patient pool in hospitals and clinics across the globe, which ultimately boosts the number of medical aesthetics.
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Geographically, the medical aesthetics market has been split into Europe, the Americas, the Middle East & Africa or MEA and Asia Pacific or APAC.
The American market has been split into North America and Latin America, while the North American market is further segmented into the US and Canada. The Americas has been the market leader since 2019 and should continue to retain its leadership throughout the assessment timeline. The presence of a highly established healthcare industry with a modern infrastructure and the rising burden of various types of skin disorders among consumers are key growth boosters in the regional market. Moreover, the growing popularity of advanced cosmetic procedures coupled with the large pool of skilled and board-certified surgeons add to the market value. The American Society of Plastic Surgeons (ASPS) released an extensive report that suggested that in 2017, the US has the largest number of cosmetic surgeons in the world. Another reason for the region’s strong presence in the global market could be the escalating number of FDA approvals for the new products being launched by the players.
The medical aesthetics market in Europe has been considered for Western Europe and Eastern Europe. The Western European market for medical aesthetics consists of highly developed countries like France, Germany, Italy, the UK and Spain, which have well-defined healthcare infrastructures. The European market’s growth is backed by the supportive government, frequent research and development activities and the focus of the companies on business expansion.
The APAC market for medical aesthetics is concentrated in emerging countries like India, Japan, China, Australia, and South Korea. Asia Pacific could experience the fastest growth in the following years, in view of the expanding pool of skilled cosmetic professionals, availability of modern techniques as well as lower priced treatment options that attract a high number of customers. China along with India, accommodates an extensive population pool of individuals aged between 30 and 65 years. Also, the escalating disposable income per person along with the burgeoning pool of employed women that demand effective aesthetic procedures also strengthen the market’s hold in the region.
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In January 2021, Allergan Aesthetics formed an agreement with Cypris Medical, a renowned medical aesthetics device firm located in Chicago. Following a clinical trial scheduled in 2021, Allergan Aesthetics is expected to have the option of acquiring Cypris Medical, which includes the company’s Xact aesthetic device. The clinical trial will aim at analyzing the effectiveness as well as safety of Xact, for the treatment of midface descent and neck lifts. As an alternative to scalpel, Xact helps lift and suture the superficial muscular aponeurotic system and is minimally-invasive.
In the same month, Candela, a reputed aesthetic medical device company, launched Frax Pro system, which is an FDA-approved and CE-backed non-ablative fractional laser aesthetic device. Frax Pro system remains the first device to have dual-depth skin resurfacing with novel Frax 1940 as well as Frax 1550 applicators. These applicators target various layers of the skin to help foster the development of new collagen.
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