Global Statistics Representing Medical Aesthetics Market Scenario
Medical aesthetic procedures are performed to treat the skin and appearance conditions including wrinkles, crow’s feet, unwanted skin hairs, tattoo removal, and several others. Adoption rate of medical aesthetic procedures is high among adults and geriatric population. Availability of several options and surge in the number of skilled medical professionals offering non-surgical medical aesthetic procedures are the factors supporting adoption of medical aesthetic procedures across the globe.
Rise in geriatric population worldwide and rise in per capita income of people are some of the prime factors driving the global medical aesthetics market. According to the United Nations, there was approximately 962 million geriatric population in 2017 and by 2030 it is estimated to reach 1.4 billion. Increase in adoption of medical aesthetic procedures and rising number of cosmetic procedure centers across the globe are some of the factors expected to boost the market growth during the forecast period 2019–2026.
However, high cost of the procedures and risk & complications associated with the medical aesthetic procedures are the factors which are likely to restrain the market growth. Moreover, lack of skilled professionals performing medical aesthetic procedures in the developing regions is the other factor which may slow the market growth during the forecast period 2019–2026.
The global medical aesthetics market is projected to reach USD 19,371 million by 2023 from USD 9,042 million in 2017, at a CAGR of 9.9% 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 segregated into face & head, breast, and body & extremities. Face & head segment is further sub-segmented into eyelid surgery, facelift, and others. Breast segment is further sub-segmented 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.
Non-surgical medical aesthetic procedures segment is expected to account for largest share of the global medical aesthetic market. Growth of the non-surgical procedures segment is attributed to the non-invasive or minimally invasive nature of the procedures and faster recovery with shorter procedure and less pain during procedure. According to the International Society of Aesthetic Plastic Society, in 2017, over 12.6 million non-surgical medical aesthetic procedures were performed as compared to 10.8 million surgical procedures. Surgical medical aesthetic procedure segment is anticipated to grow significantly during the forecast period 2019–2026.
Based on end user, the global medical aesthetic market is segmented into hospitals & clinics, cosmetic procedural centers, ambulatory centers, and others. Amongst end user, hospitals and clinics segment is forecasted to account for major share of the market owing to availability of advanced techniques for surgical and non-surgical medical aesthetic procedures. Cosmetic procedural centers segment is expected to grow rapidly due to the launch of several new cosmetic centers owing to the increasing demand for aesthetic procedures across the globe.
In terms of region the global medical aesthetics market is segregated into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
North America leads the global medical aesthetics market owing to the high number of geriatric population and presence of large number of medical aesthetic procedure centers. According to the Population Reference Bureau, number of geriatric population in North America was around 46 million and is expected to reach 98 million by 2060. Other factors which are expected to boost the market growth are rising per capita income of people and highly developed cosmetic hospitals.
Asia Pacific medical aesthetic market is expected to grow swiftly during the forecast period 2019–2026. Growth of the Asia Pacific market is attributed to the large population pool and entry of the major players in the market in Asia Pacific. Medical aesthetics market in Thailand, Japan, and China is growing rapidly owing to the rising medical tourism in the Asia Pacific.
Europe medical aesthetics market is expected to grow significantly during the forecast period 2019–2026. Presence of number of cosmetic surgery centers in the region and availability of skilled professionals are some of the key factors positively influencing the market growth.
The Middle East & Africa medical aesthetics market is growing at a significant pace owing to increase in tourism in the last few years. Developing healthcare and cosmetics expenditure in the region is the vital factor adding up to the market growth.
Latin America accounts for least share of the global medical aesthetics market owing to the poor healthcare and cosmetic surgery centers infrastructure. Low cosmetics surgery expenditure in the region is the other factor which is likely to hamper the market growth.
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).
By Procedure Type
By End User
Why Buy This Report?
Botulinum toxin non-surgical procedure number across the globe is increasing rapidly owing to the benefits of the surgery and vast area of application in cosmetics industry.
Introduction of the new procedures in the cosmetics and aesthetics industry is the key factor for the medical aesthetics market. Other factors supporting the market are lower cost of newly introduced procedures and healthcare and cosmetics industry infrastructure growth.
Our report covers the medical aesthetics market insights, focusing on recent developments in the market in different regions and development strategies of the companies. Moreover, following sections are specifically covered in the report.