Medical Aesthetics Market Segmentation, Growth Drivers, Geographical Analysis | Leading Market Players are Allergan and Cynosure

There is a forecasted growth of 10.6% (CAGR) in the global medical aesthetics market size, which is expected to elevate from USD 10.3 billion in 2018 to USD 18.9 billion by 2024. The rising adoption of non-invasive aesthetic procedures coupled with the increasing demand for aesthetic treatments among men is prompting growth in this market.

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The facial aesthetic segment by-product will predictively compare to be the biggest stake owner in the medical aesthetics market in 2018

The medical aesthetics industry offers a number of product-based segments containing facial aesthetic products, hair removal devices, skin lighteners, etc. Out of these, the facial aesthetics segment is expected to be the front runner holding the most significant stake. There are several reasons for the unparalleled growth of this segment such as the hike in demand for facial cosmetic treatments. There has been a definite shift in the willingness of the masses towards facial aesthetic improvements leading to people with disposable incomes to route for the same. The higher spending capability of individuals is also bringing attributed to this growth alongside an increase in the geriatric population across the world.

Clinics, hospitals, and medical spas segment is expected to register the highest growth rate during the tenure, classified by end-users of the market

The most significant end-users of Medical Aesthetics are divided into three streams, namely, Clinics and Hospitals, dedicated beauty centers, and home care establishments. Out of all of these, the largest footfall is received by the former segment i.e., Clinics, Hospitals, and Spas, which comprises the biggest portion of the entire medical aesthetics market. The factors behind the heavy concentration of end-users in the segment are the very fact that the number of hospitals, clinics, and spas is rapidly growing. Also, these establishments offer infrastructurally better and technologically developed treatments. The staff is qualified, and there is an abundant supply of resources, hence leading to higher popularity among the end-users.

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North America observed to be the single largest chunk of the global medical aesthetics market share, by region in 2018

The market is spread far and wide in all major regions of the world including North America, European Union, APAC region, Latin America and Africa. North America, which comprises the US and Canada, had the biggest cut of the market. On the other hand, APAC was expected to be the fastest-growing segment by region over the six years of forecast. The reasons that prompted North America’s dominantly bigger stake in 2018 in the market was the quick adoption of new-age medical aesthetic technologies and a general rise in the procedural volume for cosmetic treatments. The reasons for APAC’s phenomenal growth were primarily the positive public sentiment for these procedures backed by increased awareness. Strong marketing strategies adopted by the US and EU companies operating in the medical aesthetics market have also contributed to the region’s accelerated uprise.

The report carefully notices the activity of players in the medical aesthetics market that hold the most significant say, including Allergan, plc (Ireland), Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), Cynosure (US), El.En. S.p.A. (Italy), Fotona d.o.o. (Slovenia), Nestlé S.A. (Switzerland), a Johnson & Johnson (US), Merz Pharma GmbH & Co. KGaA (Germany), Medytox, Inc. (South Korea), Sientra, Inc. (US), Sinclair Pharma plc (UK), Syneron Medical, Ltd. (US), and Valeant Pharmaceuticals International, Inc. (the US).

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