Market Overview
MRFR (Market Research Future) anticipates that the Aesthetics Market could reach USD 12,175.1 MN by 2027-end.
Growth Boosters and Deterrents
Rising urge to remain and look young as well as fit among people has bolstered the need and demand for aesthetic treatments, with the trend emerging rapidly in developing nations. Aesthetic procedures including nose reshaping, Botox injections and liposuction are sparking the interest of consumers in South Korea and India. The aesthetics market is densely concentrated with a number of business giants that are involved in competitive and strategic rivalry to capture a higher position. This has resulted in an intensely competitive ambience in the global medical aesthetic industry.
The mounting preference for non-invasive and minimally invasive aesthetic procedures, geriatric pool emerging as a key end-user and the soaring awareness among the public about the latest cosmetic procedures are expected to benefit the aesthetics industry. The soaring number of options of technically innovative and user-friendly devices combined with the surging popularity of aesthetic treatment among the men population also seems to be working in favor of the global market.
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Market Segmentation
Procedures and end-user are the top segments considered in the report, in order to present an exhaustive layout of the global market for aesthetics.
The major procedures discussed in the market study are nonsurgical aesthetic procedures as well as surgical aesthetic procedures. Mounting preference for non-invasive medical aesthetic procedures has been favorable for the nonsurgical aesthetic procedure segment. Non-surgical procedures witness substantial demand as these provide an array of benefits, including lower downtime, zero scar, no need for hospitalization, lesser treatment cost and reduced risks compared to surgical procedures.
The key market end users include salons spas, dermatology clinics cosmetic centers as well as hospitals clinics. Salons spas could be the fastest progressing segment in the following years, in view of the soaring number of medical spas around the globe along with the extensive use of technologically developed equipment devices. The burgeoning pool of skilled professionals and trained staff conducting aesthetic procedures in spas and salons gives further boost to the segment.
Regional Insight
Geographically, the aesthetics market has been split into Europe, the Americas, the Middle East Africa or MEA and Asia Pacific or APAC.
The American market has been split into North America and Latin America, while the North American market is further segmented into the US and Canada. The Americas has been the market leader since 2019 and should continue to retain its leadership throughout the assessment timeline. The presence of a highly established healthcare industry with a modern infrastructure and the rising burden of various types of skin disorders among consumers are key growth boosters in the regional market. Moreover, the growing popularity of advanced cosmetic procedures coupled with the large pool of skilled and board-certified surgeons add to the market value.
The aesthetics market in Europe has been considered for Western Europe and Eastern Europe. The Western European market for medical aesthetics consists of highly developed countries like France, Germany, Italy, the UK and Spain, which have well-defined healthcare infrastructures. The European market’s growth is backed by the supportive government, frequent research and development activities and the focus of the companies on business expansion.
The APAC market for aesthetics is headed by India, Japan, China, Australia, and South Korea. Asia Pacific could experience the fastest growth in the following years, in view of the expanding pool of skilled cosmetic professionals, availability of modern techniques as well as lower priced treatment options that attract a high number of customers. China along with India, accommodates an extensive population pool of individuals aged between 30 and 65 years. Also, the escalating disposable income per person along with the burgeoning pool of employed women that demand effective aesthetic procedures also strengthen the market’s hold in the region.
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Top Firms
Endocare, SkinCeuticals, Obagi Medical, Dermalogica, Neostrata, Clarins, Clinique, ZO Skin Health, Inc., La Roche-Posay, Medik8, Teoxane, Biore, Alumier MD, Kiehl’s, IS Clinical, Swisscode, Elemis Ltd, PCA Skin, Lancome, Skin Medica are the top market contenders listed in the report.
Latest Developments
January 2021
Allergan Aesthetics has formed an agreement with Cypris Medical, a renowned medical aesthetics device firm located in Chicago. Following a clinical trial scheduled in 2021, Allergan Aesthetics is expected to have the option of acquiring Cypris Medical, which includes the company’s Xact aesthetic device. The clinical trial will aim at analyzing the effectiveness as well as safety of Xact, for the treatment of midface descent and neck lifts. As an alternative to scalpel, Xact helps lift and suture the superficial muscular aponeurotic system and is minimally invasive.
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