Medical aesthetic procedures are performed for physical appearance improvement by healing conditions including skin laxity, wrinkles, unwanted hair, scars, and several other conditions. Generally, aesthetic procedures are of two types including surgical procedures and non-surgical procedures. Introduction of new aesthetic procedures is anticipated to change the market scenario and to gain the market share.
Availability of several aesthetic procedures for fixation of skin and appearance conditions and rising awareness regarding aesthetic procedures are some of the factors driving the market. According to the International Society of Aesthetic Plastic Surgery, more than 20 million aesthetic procedures were performed during 2014–2015 across the globe. Constant surge in per capita income in the last few years is the other reason which is expected to boost the market growth during the forecast period 2019–2026.
However, several risks associated with the aesthetic procedures and lack of skilled professionals performing aesthetic procedures are the key factors which are likely to restrain the market growth in the near future. According to the Mayo Foundation for Medical Education and Research (MFMER), people with lung diseases, cardiovascular diseases, diabetes or obesity are at higher risk of developing complications.
The global medical aesthetics market is projected to be worth USD 19,407.5 million by 2026 and is forecasted to grow at a CAGR of 10.2% during the forecast period 2019–2026.
The global medical aesthetics market is segmented on the basis of procedure type, end user, and region.
Based on procedure type, the global medical aesthetics market is segmented into surgical procedures and non-surgical procedures. Surgical procedures is further segmented into face & head, breast, and body & extremities. Face & head segment is further sub-segmented into eyelid surgery, facelift, and others. Breast segment is further segregated into breast augmentation- silicone, breast lift, and others. Body & extremities segment is further divided into liposuction, abdominoplasty, and others. Non-surgical procedures are segmented into injectables, facial rejuvenation, and others. Injectables segment is further sub-segmented into botulinum toxin, hyaluronic acid, and others. Facial rejuvenation is further segregated into chemical peel, microdermabrasion, non-surgical skin tightening, and others. Surgical procedures segment is expected to account for significant share of the market owing to availability of skilled cosmetic professionals performing surgical aesthetic procedures.
Based on end user, the global medical aesthetic market is segmented into hospitals & clinics, cosmetic procedural centers, ambulatory centers, and others. Cosmetic procedural centers segment is expected to grow at highest CAGR during the forecast period 2019–2026.
In terms of region, the global medical aesthetics market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
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North America dominates the global medical aesthetic market and is expected to grow at a significant CAGR. Growth of North America is attributed to rising geriatric population and high per capita income in the region.
Asia Pacific is the fastest growing market for medical aesthetics. Huge geriatric population pool, rise in awareness regarding aesthetic procedures, and surge in medical tourism in the region in last few years are some the key factors escalating the market growth in the region.
Europe is expected to grow at a steady rate during the forecast period 2019–2026 owing to the presence of major players in the region. High adoption rate of medical aesthetic procedures in the region is vital factor driving the medical aesthetic market.
Some of the major players of the global medical aesthetics market are, Allergan, Alma Lasers, Ltd. (A Division of Sisram Medical Ltd.), Anika Therapeutics, Inc., Cutera, Inc., Cynosure (A Wholly Owned Subsidiary of Hologic, Inc.), El. En. S.P.A., Fotona D.O.O., Galderma (A Subsidiary of Nestlé), Johnson & Johnson, Merz Aesthetics, Inc. (A Division of Merz Pharma GmbH & Co. KGaA), Medytox, Inc., Sientra, Inc., Sinclair Pharma PLC, Solta Medical (A Division of Valeant Pharmaceuticals International, Inc.), Syneron Medical, Ltd. (A Part of Apax Partners).