Market OverviewThe term medical aesthetics denotes the medicine that is a largely extensive term used for specialties that focuses on improvement of cosmetic appearance of the body by the process of treatment of the skin laxity, moles, scars, wrinkles, liver spots, excess fat, cellulite, unwanted hair, skin discoloration and spider veins,. Generally, the aesthetic medicine includes the reconstructive surgery, plastic surgery, oral and maxillofacial surgery and dermatology.
The growing acceptance of minimally invasive and non-invasive aesthetic processes, increasing adoption among the geriatric individuals, growing public awareness about the cosmetic procedures, availability of technologically advanced and user-friendly products, along with the increasing demand for these treatments among women and men are the major factors driving the growth of the market. However, market growth is restricted to a certain level by the factors such as the complications and clinical risks associated with the medical aesthetic procedures and increasing adoption and availability of alternative cosmetic and beauty products.
Segment OverviewThe facial aesthetic products are expected to hold the major share of the market in 2018. The large share is attributed to the rising patient demand for facial treatments, growing disposable income and spending capabilities, and rising geriatric population through the globe.
Based on end user, the market is segmented into beauty centers; clinics, hospitals, and medical spas; and home care. The clinics, hospitals, and medical spas segment is projected to account for largest share of the global market in 2018. The segment is also likely to be fastest-growing end-user segment over the forecast period, due to the growing number of clinics and medical spas and high availability of infrastructural and financial resources with hospitals, with trained staff, technologically advanced devices, and skilled professionals to perform the aesthetic procedures.
Regional OverviewGeographically, the market is divided into North America, Asia Pacific, Europe, and Latin America and Middle East and Africa. North America is projected to account for largest share of the global market in 2018. The large share can be attributed to the rising procedural volume for these procedures and high adoption rate of new technologies in this region.
The APAC market is projected to register the highest growth during the forecast period. The major factors leading to the growth of the APAC market include rising consumer interest and awareness in aesthetic procedures, aggressive marketing by the U.S. and European companies, and also the rising medical tourism in the region.
Competitor overviewIn 2017, Allergan, Galderma, Cynosure, Syneron Candela, Mentor (a subsidiary of Johnson & Johnson) lead the global medical aesthetic market. Allergan, plc. Is among the leading major companies in the market. The company has a wide product portfolio and emphases on continuous innovation and the new product development to sustain the leadership position in the market. In the last few years, the company has enhanced its market share by introducing new products and new approvals for various aesthetic products.
For instance, the company received the FDA approval for Coolsculpting treatment, NATRELLE INSPIRA, BOTOX Cosmetic, JUVÉDERM VOLLURE XC gel filler, in the last three years. The company launched new products, including Juvéderm Volite and JUVÉDERM VOLBELLA XC during the same period. A strong emphasis on this organic growth strategy enables the company to increase its product portfolio and cater to growing needs of the patients and surgeons.
Key Players
- Allergan
- Galderma
- Cynosure
- Syneron Candela
- Mentor (Johnson & Johnson)
- Alma Lasers, Ltd.
- Anika Therapeutics
- Cutera, Inc.
- El.En. S.p.A.
- Fotona d.o.o.
- Nestlé S.A.
- Merz Pharma GmbH & Co. KGaA
- Medytox, Inc.
- Sientra, Inc.
- Sinclair Pharma PLC
Market SegmentationBy Product
- Facial Aesthetic Products
- Body Contouring Devices
- Cosmetic Implants
- Physician-Dispensed Cosmeceuticals and Skin Lighteners
- Skin Aesthetic Devices
- Physician-Dispensed Eyelash Products
- Hair Removal Devices
- Tattoo Removal Devices
- Thread Lift Products
- Nail Treatment Laser Devices
By End Use
- Clinics, Hospitals, and Medical S.P.A.s
- Beauty Centres
- Home Care Settings
By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
