Seattle, WA -- (SBWire) -- 11/11/2019 --Medical aesthetics focuses on enhancing cosmetic appearance using various therapies for the treatment of conditions such as liver spots, excess fat, scars, moles, cellulite, unwanted hair, skin discoloration, skin laxity, wrinkles, and spider veins. Increasing focus on aesthetic appeal has led to high adoption of anti-aging products and procedures, which is expected to boost growth of the global medical aesthetics market over the forecast period.
Increasing focus on aesthetic appeal has led to high adoption of surgical procedures. This in turn acts as a major factor boosting growth of the global medical aesthetics market. For instance, according to International Society of Aesthetic Plastic Surgery (ISAPS), in 2015, women had over 18 million non-surgical and surgical procedures performed, accounting for around 85.6% of the total aesthetic procedures performed worldwide. Moreover, the top five surgical procedures performed on women in 2015 were: breast augmentation, liposuction, eyelid surgery, abdominoplasty, and rhinoplasty. Furthermore, men had over 3 million non-surgical and surgical procedures, comprising around 14.4% of the total number of surgeries. The top five surgical procedures performed on men were: eyelid surgery, liposuction, gynecomastia surgery, rhinoplasty, fat grafting, and ear surgery.
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Moreover, increasing focus on improving aesthetic appeal among men is also contributing to growth of the market. For instance, according to ISAPS, Botulinum Toxin continues to be the most common form of procedure that women and men undergo. A total number of over 4.6 million procedures are conducted on both the sexes of Botulinum Toxin. Procedures of Hyaluronic acid increased 6.5% from 2014 to 2015, whereas breast augmentation continues to be the most common surgical procedure among women with a 10.4% rise from 2014 and eyelid surgery is prevalent among men.
Increasing adoption of minimally-invasive and non-invasive procedures and high demand for laser-based devices and reconstructive and augmentation surgeries is also expected to boost growth of the market. For instance, in 2016, the number for Liposuction surgery increased by 5% compared to previous year. Increasing adoption of minimally invasive surgeries is attributed to factors such as few post-surgery side effects and complications, short recovery time, and robust outcome.
Major factors hindering growth of the market include, social stigma associated with aesthetic procedures and stringent safety regulations.
The facial aesthetics segment held dominant position in the global medical aesthetic market in 2017, in terms of revenue. This is attributed to high demand for facial aesthetic treatments and non-invasive cosmetic procedures. Increasing geriatric population is also expected to boost growth of the segment over the forecast period.
The medical spas and clinics segment is expected to witness the highest growth during the forecast period. This is attributed to factors such as increasing adoption of minimally invasive and non-invasive aesthetic procedures, increasing number of medical spas and clinics, and high number of skilled professionals that can perform aesthetic procedures.
The market in North America is expected to account for the largest market share during the forecast period. This is attributed to increasing number of aesthetic procedures in the region. For instance, according to American Society for Aesthetic Plastic Surgery, the number of medical aesthetics procedures performed in the U.S. significantly increased. In 2016, people in the U.S. invested over US$ 15 billion on combined non-surgical and surgical procedures, with non-surgical accounting for 44% of all the procedures.
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Significant growth in the medical tourism, increasing disposable income, and growing awareness regarding aesthetic appeal are some of the factors propelling growth of the market in Latin America and Asia Pacific. For instance, according to a statistics, India issued more than 0.17 million medical visas in 2016, including for follow up treatment, as against 0.12 million in 2015. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report, in 2016, the top five countries – the U.S., Brazil, Japan, Italy, and Mexico – accounted for around 41.4% of the world's cosmetic procedures, followed by Russia, India, Turkey, Germany, and France.
Major players operating in the medical aesthetics market include, PhotoMedex, Inc., Galderma S.A., Syneron Medical, Ltd., Solta Medical, Inc., Cynosure, Inc., Allergan, Inc., Alma Lasers, Ltd., Mentor Worldwide LLC, Lumenis Ltd., and ZELTIQ Aesthetics, Inc.
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Medical Aesthetics Market Global Industry of Major Players Operating in Cynosure, Inc., Allergan, Inc., Alma Lasers, Ltd., Mentor Worldwide LLC, Lumenis Ltd., ZELTIQ Aest