The Medical Aesthetics Market is projected to reach USD 15.9 billion by 2025 from USD 9.4 billion in 2020, at a CAGR of 10.9%.
The Increasing public awareness about cosmetic procedures, the availability of technologically advanced & user-friendly products are the key factors driving the growth of this market. On the other hand, market growth is limited to a certain extent by factors such as the clinical risks and complications associated with medical aesthetic procedures and the increasing availability and adoption of alternative beauty and cosmetic products.
Growing adoption of minimally invasive and noninvasive aesthetic procedures;
In the past decade, there has been a significant increase in the preference for minimally invasive and noninvasive aesthetic procedures over traditional surgical procedures. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, such as less pain, reduced scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures. As per the International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall increase of 5.4% in the number of plastic and cosmetic procedures between 2017 and 2018.
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Clinics, hospitals, and medical spas are expected to be the fastest-growing end users in the medical aesthetics market during the forecast period (2020-2025)
On the basis of end user, the market is segmented into clinics, hospitals, and medical spas; beauty centers; and home care. The clinics, hospitals, and medical spas segment is estimated to account for the largest share of the global market in 2019. This end-user segment is also expected to be fastest-growing end-user segment during the forecast period, owing to the increasing number of clinics and medical spas and the high availability of financial and infrastructural resources with hospitals, including technologically advanced devices, trained staff, and skilled professionals to perform aesthetic procedures.
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North America to dominate the medical aesthetics market in 2019
Geographically, the market is segmented into North America (the US and Canada), Europe (Germany, the UK, France, Italy, Spain and the Rest of Europe), Asia Pacific (Japan, China, India, South Korea, Australia, Indonesia, Thailand and the Rest of Asia Pacific), Latin America (Brazil, Mexico, Rest of the latin america) and the Middle East and Africa. North America is expected to account for the largest share of the global market in 2019. The large share of this region in the global market can be attributed to the growing procedural volume for aesthetic procedures and the high adoption rate of novel technologies in this region.
The major players operating in the medical aesthetics market are Allergan-AbbVie(US), Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), Cynosure (US), El.En. S.p.A. (Italy), Fotona d.o.o. (Slovenia), Galderma (Switzerland), Johnson & Johnson (US), Merz Pharma GmbH & Co. KGaA (Germany), Medytox, Inc. (South Korea), Sientra, Inc. (US), Sinclair Pharma plc (UK), Syneron Medical, Ltd. (US), and Baush Health, Inc. (US).
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