Medical Aesthetics Market Current Insights, Historical Growth, Challenges

Posted on 2023-10-17 by Polaris Market Research in Healthcare // 0 Comments

New York, United States, 2023-Oct-17 — /EPR Network/ —Broadly speaking, medical aesthetics includes all medical treatments that are concentrated on enhancing the cosmetic appearance of the patients. Qualified doctors, nurses, or dentists can offer a multitude of outstanding tweakments to improve the appearance. The rapid rise in the demand for the medical aesthetics market can be attributed to patients becoming increasingly open about having procedures done and bringing them in front of the public.

According to the research report, the global medical aesthetics market was valued at USD 12.5 billion in 2021 and is expected to reach USD 30.9 billion by 2030, to grow at a CAGR of 10.6% during the forecast period.

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Manufacturers coming up with innovative aesthetic devices has led to an escalated demand for aesthetic treatments in the coming years. For instance, the initiation of technologically advanced products, such as non-invasive body contouring systems that utilize fat-freezing technology, is anticipated to create lucrative opportunities for market growth in the near future.

What Does the Report Include?

The report provides a quantitative analysis of market segments, current trends, estimations, and dynamics to identify market opportunities
The market research is provided along with information related to key drivers, restraints, and opportunities
Porter’s five forces analysis underscores the potency of buyers and suppliers to make profit-oriented business decisions and strengthen the supplier-buyer network.
Depth analysis of market segmentation helps to decide the prevailing market opportunities
Market player positioning facilitates benchmarking and offers a clear comprehension of the present position of market players

Growth Driving Factors

Increased interest in non-invasive procedures to push the market

Remote working has increased the time spent on zoom calls. Thus there is a great deal of attention being paid to physical appearance. This has increased the demand for cosmetic surgeries, with Botox being one of the most popular procedures preferred. The medical aesthetics market size is expanding due to increased interest in non-invasive procedures during the past few months, while interest in invasive procedures has declined. Therefore, the market has witnessed a spike during the past few months and is anticipated to be in high demand throughout the forecast period.

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The escalating desire to look young and fit has raised the demand for aesthetic treatment in emerging nations. Medical aesthetics market sales are soaring as aesthetic procedures like liposuction, nose reshaping, and Botox injection are gaining consumer interest in countries such as South Korea and India. As per the International Society of Aesthetic Plastic Surgery (ISAPS), India was ranked among the top 5 countries performing the non-surgical procedure globally.

Recent Developments

In November 2020, a US-based company called AbbVie acquired Allergen Plc to form a global segment, “Allergen Aesthetics,” so that the medical aesthetics product line can be improved.

Segmental Analysis

The facial aesthetic product segment acquired significant market revenue

Based on product, the facial aesthetic product segment acquired significant market revenue due to the growing number of women entering the workforce, growing disposable income, and their urge to look young, attractive, and obtain the best treatment results. Medical aesthetics market demand is on the rise as increasing demand for derma filers is intended to impact the segment’s growth due to its beneficial uses such as improvising shallow contours, softening facial creases and wrinkles, enhancing the impression of recessed scars, and pumping thin lips.

The clinics, hospitals, and medical spaces segment acquired the most considerable market share

Based on end users, the clinics, hospitals, and medical spaces segment obtained the most market share due to several modifiers, such as enhanced availability of financial and physical resources at clinics and hospitals, including qualified surgeons. Medical aesthetics market trends include the exhibition of accessible and deliverable advances in clinics and hospitals, promoting segment growth.

Geographic Overview

Growing disposable income to drive the North American market

North America held the most significant medical aesthetics market share due to the high number of cosmetic treatments carried out, growing disposable income, growing consciousness, and supportive government financing for healthcare infrastructure. The demand for medical aesthetics in the region is also rising due to a robust research pipeline, the generation of technologically sophisticated products, and FDA approvals from home-use aesthetic devices.

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Competitive Insight

Some prominent medical aesthetics market key players include 3M, ADIN Dental Implant Systems, Allergan plc, Anika Therapeutics, Inc., Cynosure Inc., Deka Laser Technologies, Dentsply Sirona Inc., El.En. S.p.A., Etoile, Fotona D.O.O., Galderma S.A, GymnaUniphy N.V., Medytox, INC, Mentor Worldwide LLC, Merz Aesthetics, Inc., NDI Dental Implants, PhotoMedex, Inc., Sientra, Inc., Sinclair Pharma PLC, Solta Medical, Solta Medical, Inc., Syneron Medical, Ltd., Tecno Gamma, TRI Dental Implants, YOLO Medical, ZELTIQ Aesthetics, Inc., and Zimmer Biomet Holdings, Inc.

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