Several Innovations In Aesthetic Devices Expected To Drive Global Aesthetic Medicine Market Growth – Zion Market Research
As per the report, the value of the global aesthetic medicine market in 2018 was around USD 52.72 billion and is projected to attain a valuation of about USD 87.82 billion by 2025, developing at a CAGR of about 7.6% during the forecast period (between 2019 and 2025).
In past few years, aesthetics has turned out to be more vital considering all aspects of day-to-day life. It is the most new division of medicine. The purpose of aesthetic medicine is to enhance physical look and satisfaction of an individual by utilizing non-invasive or minimally invasive techniques. Aesthetic medicine is suggested to healthy people who are displeased with particular minor deficiencies. It is also utilized for treating conditions like allergies, acne, and eczema. In addition, aesthetic treatment comprises microdermabrasion, dermal fillers, body countering, venous treatment, chemical peels, and cellulite treatment.
The demand for aesthetic treatments has been on the rise owing to several innovations in aesthetic devices. Further, the advent of technically enhanced products, like non-invasive body contouring systems utilizing controlled cooling technology is anticipated to generate growth opportunities for the global aesthetic medicine market during the forecast period. Moreover, technological developments in aesthetic medicine devices will fuel its rate of adoption around the globe in the years to come. The rising awareness among people about their look is another key factor expected to drive the global aesthetic medicine market growth. In addition, other factors boosting the market expansion include the increase in disposable income escalating the demand for cosmetic surgeries and the increasing population disposed to experiencing aging symptoms.
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At present, combination treatments have become a trend in aesthetics. It is being merged with radiofrequency and lasers to get sustained and smoother outcomes. In addition, the requirement for enhanced aesthetics in the swiftly increasing working-class population is projected to drive growth of global aesthetic medicine market. Moreover, market players concentrating on R&D expenditure will result in innovations thus augmenting the market demand. Nonetheless, the strict regulatory structure to warrant product efficacy and safety is among the key factors anticipated to hamper the global aesthetic medicine market growth. Also, dearth of experienced professionals needed to carry out minimally invasive & surgical procedures and the rising overall cost of the treatment are projected to obstruct the market growth.
The global aesthetic medicine market is divided based on type, end-use, product, and region. By type, the market is bifurcated into non-surgical procedures and surgical procedures. The market, by product, is classified into facial aesthetic, body contouring devices, breast aesthetics, tattoo removal devices, and hair removal devices. The facial aesthetic segment is further sub-divided into skin rejuvenation and injectables. By end-use, the market is categorized into ambulatory surgical centers, hospitals, dermatology clinics, beauty centers & medical spas, and home settings.
Regionally, the global aesthetic medicine market is ruled by North America. This regional growth can be attributed to factors such as strong healthcare infrastructure, rising incidence of skin disorders, the existence of board certified and experienced cosmetic surgeons, and acceptance of cosmetic procedures. Further, Asia Pacific is projected to witness higher growth rate during the forecast period on account of a huge figure of surgical procedures carried out every year in Japan, China, and South Korea. Also, accessibility of experienced professionals, cheaper treatment costs, and advanced techniques are projected to magnetize more clients. In addition, the rising disposable income and huge base of working people are boosting the demand for aesthetic procedures, thereby driving the regional market expansion.
Few of the key players active in the global aesthetic medicine market consist of Hologic (Cynosure), Allergan, Galderma, Johnson & Johnson, Solta Medical, Lumenis, Alma Laser, and Syneron Candela.
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- CDN Newswire