Aesthetic Medicine Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The global aesthetic medicine market is estimated to foresee tremendous growth over the coming due to the steadily rising adoption of aesthetic surgeries as well as technological advancements in the field of aesthetic devices. Taking July 2019 for instance, Cynosure, a leading creator of aesthetic as well as medical treatment systems, launched two new products to expand its portfolio of innovative aesthetic therapies. The company launched a petite mask, designed especially for SculpSure submental therapies and Tempsure Firm handpiece. Both these devices are FDA approved, which is expected to ensure their adoption in the industry.
According to a GMI Inc., research report, the aesthetic medicine market is likely to surpass a $24.3 billion valuation by 2026.
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In terms of product, the body contouring devices market is projected to observe tremendous growth owing to the rising obese population across the world. In fact, in 2029, the segment accounted for about 32.1% of the overall revenue share. According to the CDC data, the prevalence of obesity cases across the U.S. was recorded at more than 42% during 2017-18. Moreover, the growing number of aesthetic surgical procedures like liposuctions and various other surgeries associated with body extremities should further complement the segment size over the coming years.
With regards to end-use, beauty centers and medical spas are projected to observe a significant growth of more than 11.6% over the forthcoming timeframe. This growth is ascribed to the increasing number of aesthetic surgeries being performed across the globe. In addition, technological advancements in the segment is further slated to complement the segment revenue share over the analysis period. Moreover, several benefits provided by beauty centers and spas, including relaxation and de-stress technique would further contribute to the overall market size.
Geographically, the Europe aesthetic medicine market is expected to grow at a substantial rate over the coming years due to the aging demographics in the region. The growing geriatric population is leading to the increasing use of aesthetic devices. In addition, accessibility to latest products and technologies coupled with increasing social awareness would drive the regional market size further. Germany has witnessed an upsurge in the number of non-surgical procedures over the recent years. In fact, as per the International Society of Aesthetic Plastic Surgery, in 2018, about 58% of aesthetic procedures conducted in Germany were non-surgical in nature. Moreover, easy availability of skilled plastic surgeons in the region would drive the number of aesthetic surgeries performed in the country, supplementing the regional market size.
Several market players are implementing strategies like acquisitions, product launches, and collaborations to gain a competitive edge and stake a bigger claim to the industry landscape. Taking June 2020 for instance, Cynosure, a US-based aesthetics company reportedly announced the launch of its Elite iQ platform across the U.S., Australia, and Europe. The platform is the next generation of Cynosure’s Elite+™ Aesthetic Workstation, which enables faster treatments along with a higher max energy when compared to prior generation devices.
The competitive landscape of the global aesthetic medicine market is inclusive of players such as Cutera, Cynosure, Lumenis, Galderma, Johnson & Johnson, Allergan, and Alma Lasers among others.
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Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Aesthetic medicine industry 360° synopsis, 2015-2026
2.1.1. Business trends
2.1.2. Type trends
2.1.3. Product trends
2.1.4. Gender trends
2.1.5. End-use trends
2.1.6. Regional trends
Chapter 3. Aesthetic Medicine Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
184.108.40.206. Increasing awareness regarding aesthetic procedures
220.127.116.11. Technological advancement associated with medical aesthetic devices
18.104.22.168. Rising prevalence of obesity worldwide
22.214.171.124. Increasing adoption of non-invasive procedures
3.3.2. Industry pitfalls & challenges
126.96.36.199. High cost associated with aesthetic procedures
188.8.131.52. Lack of reimbursement and stringent regulatory scenario
3.4. Growth potential analysis
3.4.1. By type
3.4.2. By product
3.4.3. By gender
3.4.4. By end-use
3.5. COVID-19 impact analysis
3.6. Porter’s analysis
3.7. Competitive landscape
3.7.1. Strategy dashboard, 2019
3.8. PESTEL analysis