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(Health-NewsWire.Net, December 23, 2019 ) Market Overview
Medical aesthetics services are high-technology skincare involves in the fusion of both healthcare and beauty services. It uses advanced technologies (laser or energy based devices) to provide a based medical procedure to cause a significant change or enhancement and improve the cosmetic experience.
It is not confined to a dermatologist, and plastic surgeons as doctors at all specialties seek to offer services to address their patients aesthetic and desires.
The global medical aesthetics market is expected to grow at a CAGR of 10.2 % during the forecast period (2019-2026).
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Market Drivers and Restraints
The rise in adoption of minimally invasive and non-invasive procedures aesthetic procedures, increase in geriatric population globally as they are prone to wrinkles and skin related issues.
Increase in awareness among the fashion community regarding cosmetic procedures, availability of technologically advanced products and usage of cosmetic procedures my men are driving the global medical aesthetics market.
According to the International Society Of Aesthetic Plastic Surgery in 2018, total aesthetic breast procedures increase by 4.1% and complete body extremities procedures increased by 7.2% during the 2017-2016 period.
According to the American Society of Plastic surgeons in 2018, 15.7 million cosmetic surgeries are performed in the United States alone which is increased approximately by 2% during the 2016-2017 period.
Major factors hindering the global medical aesthetics market are the high cost involved due to the advanced technologies and risk of malfunctions associated with implants.
Market Segmentation Analysis
Global Medical Aesthetics Market is segmented by product type, includes body contouring devices, aesthetic lasers, skin tightening devices, facial aesthetic devices, implants, and others, by application includes Carbon peel, tattoo removal, skin resurfacing, hair removal, scar treatment and others and by end users includes hospitals, dermatology clinics, medical spas and beauty centers.
Tattoo removal devices dominate the global medical aesthetics market during the forecast period due to the rise in demand among the adult population for partial or complete removal of the tattoo.
The increase in the need for multi-color tattoo removal that can remove a wide range of pigments for various skin types with minimal discomfort, rapid growth in adoption of tattoo removal devices in dermatology clinics in developed nations and developing nation and recent technological advancements in tattoo removal technologies has led to safe tattoo removal in less number of sessions.
According to SkinTru.com a promoter of tattoo removal cream in 2017 reported that 26% of Americans regret getting a tattoo and want them removed.
Market Geographical Share
The global medical aesthetics market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America dominates the global medical aesthetics market due to the high presence of cosmetology professionals across the region, increase in the prevalence of breast cancer as the breast implants are used in the reconstructive surgery, increase in awareness campaigns against the breast reconstructive surgeries and presence of key players it is expected to remain high during forecast period.
American cancer society in 2018 estimated that approximately 268,900 cases would be diagnosed in 2019 and in recent years the incidence rates increased by 0.4% a year in the United States.
Market Key Companies
New Product launches a strategic collaboration between critical players & service providers and recent FDA approvals is driving the global Medical Aesthetics Market.
On February 8th, 2019 GlobalMed Technologies company a leading manufacturer in international medical devices manufacturer partnered with DermaconceptTM for distribution in the U.S.
On February 5th, 2019, EvolVus received FDA approval for JeuveauTM prabotulinumtoxinA-xv for injection.
In January 2017, Allergan launched Juvederm Volite an innovative injectable treatment designed for improving skin quality for nine months.
Major market players in the Medical Aesthetics Market are Allergan, plc, Alma Lasers, Cutera Inc., Cynosure, El.En. S.p.A., Fotona d.o.o, Merz Pharma GmbH & Co., Sientra, Inc., Sinclair Pharma PLC, Syneron Medical, Ltd., Bausch Health Companies Inc.
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