Global Aesthetic Medicine Market is expected to grow at a CAGR of 9% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Aesthetic Medicine Market by Procedure Type (Invasive Procedures, Non-invasive Procedures), Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global aesthetic medicine market is expected to grow from USD 57.22 billion in 2019 to USD 114.02 billion by 2027, at a CAGR of 9% during the forecast period 2020-2027. The market in North America holds the largest market share, owing to well-developed healthcare infrastructure, increasing prevalence of skin disorders, adoption of cosmetic procedures, and the presence of board-certified and skilled cosmetic surgeons. Rising awareness regarding aesthetic appeal and rising consciousness regarding outward appearance is expected to propel the market growth. Asia-Pacific region is expected to witness significant growth, owing to large number of surgical procedures performed in Japan, South Korea, and China, advanced techniques, availability of skilled professionals, and cheap treatment costs. Rising disposable income and the presence of a large pool of working population is expected to propel the market growth for the aesthetic medicine market in the Asia-Pacific region.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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The procedure type segment includes invasive procedures and non-invasive procedures. The invasive procedures segment include breast augmentation, liposuction, nose reshaping, eyelid surgery, tummy tuck, others. The non-invasive procedures segment includes botox injections, soft tissue filters, chemical peel, laser hair removal, microdermabrasion, and others. The non-invasive procedures segment holds the largest market share, owing to a rise in minimally invasive cosmetic procedures like laser hair removal, botox injections, and microdermabrasion. The invasive procedures segment is expected to witness significant growth, owing to the rise in number of men and women who want to improve their aesthetic appearance and increase demand for liposuction procedures.
The factors driving the market are rising prevalence of obesity worldwide, increasing awareness regarding aesthetic procedures, improving employment rate in developing economies, and increasing demand for aesthetic medicine due to the rising number of target consumers. The presence of strict regulatory framework and efficacy, lack of skilled professionals required to perform surgical and minimally invasive procedures, and increasing cost of treatment will hamper the market growth. However, awareness of socio-economic wellness and rising demand for aesthetics to treat ageing and other skin related conditions provides market growth opportunities.
About the report:
The global aesthetic medicine market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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