Medical Aesthetics Market is Facing a Period of Short-Term Negative Growth During COVID-19

Illinois, United States, 2021-Apr-23 — /EPR Network/ —

This report aims to provide detailed insights into the global medical aesthetics market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Key Factors Driving Market Growth:

The growth in medical aesthetics market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced & user-friendly products, and the increasing demand for aesthetic treatments among men.

Expected Revenue Growth Analysis:

The global 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%.

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COVID-19 Impact on the global medical aesthetics market

The COVID-19 pandemic has significantly affected the medical aesthetics market. The beauty and luxury sector is facing challenges in its manufacturing and supply chain, such as delivering products to end users in a timely manner as well as attending to an uneven demand for products and services. The market is facing a period of short-term negative growth, which can be attributed to factors such as a decline in the product demand from major end users, limited operations in most of the industries, temporary closure of major end-user facilities (including beauty centers and spas), disrupted supply chain, and challenges in terms of providing essential/post-sales services due to the lockdown.

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205 – Tables
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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.

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.

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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).