Market Dynamics
Market Research Future (MRFR) studied the global Medical Aesthetics Market 2020 through the review period till 2030. MRFR findings reveals that the medical aesthetic marker is expected to register 8.30% CAGR in the assessment period. By 2030, the global medical aesthetics market can value USD 38,850.89 Mn.
The medical aesthetics market growth dynamics is directly influenced by the rise in number of liposuction surgeries. Unhealthy diet and changes in lifestyle have induces obesity in a large population triggering the need for rapid fix in this fast-paced world. Thus, the inclination of people towards aesthetic procedures, such as; liposuction, is rising to improve their health and boost their appeal. At the same time, the upscaling demand and adoption of hair transplantation solutions by victims of baldness, of which stress is identified as a potential underlining factor, is noted to promote the demand for beauty treatments. The increasing sales of anti-aging-related cosmetic among the expanding geriatric population can promote the global medical aesthetics market growth.
Market Segmentation
The segment study of the global medical Aesthetics Market is based on end user, product, and technology.
The product-based segments of the medical aesthetics market are facial aesthetic, cosmetic implants, body contouring devices, skin aesthetic devices, hair removal devices, and tattoo removal devices among others. The facial aesthetic segment is expected to garner the largest market share of 33.3% by 2030. The skin aesthetic segment is likely to earn substantial profit for the market in the coming years.
The technology-based segments of the global medical aesthetics market are invasive, minimally invasive, and non-invasive. The invasive segment can secure the largest market share by 2030. Invasive procedures, such as; breast augmentation, liposuction, and nose reshaping among other cosmetic surgeries are trending aesthetic procedures. The inclination of both women and men towards improving their appearance is fueling the demand for liposuction procedures, which, in turn, is expected to bolster the market growth. MRFR study states that the invasive segment can rise at 8.84% CAGR by 2030.
The end user-based segments of the global medical aesthetics market are dermatology cosmetic centers, and hospitals clinics among others. The hospitals and clinics segment can thrive in the years to come. The expansion of people investing in building decent aesthetics and the increasing demand for medical aesthetics in hospitals and clinics can benefit the market in the years to come. MRFR study states that hospitals and clinics segment can rise at 8.23% CAGR by 2030.
Regional Analysis
The Americas medical aesthetics market is expected to hold the largest market share. The US, is observed to earn high revenue for the regional market due to increase in product clearances from several regulatory authorities. The presence of well-developed healthcare infrastructure, growing prevalence of skin disorders, adoption of cosmetic procedures, and presence of skilled and board-certified cosmetic surgeons in the region can contributing to the market rise in the years to come. Europe medical aesthetics market can rise at decent pace during the study tenure. The increasing support from governments in the region and the existence the robust healthcare base can benefit EU market.
The study of medical aesthetics market in the Asia Pacific region is done across China, South Korea, India, Australia, Japan, and the rest of Asia-Pacific. Asia Pacific medical aesthetic market is expected to witness the highest CAGR through the study period. The increasing awareness about aesthetics among young people and rapid technological enhancements open huge opportunities for medical aesthetics solution developers to introduce innovations, given to the increasing demand. Governments in APAC are supporting the promotion of better treatment options across developing regions to improve the quality of life of people. Moreover, the growing acceptance of facial aesthetics, along with the aforementioned causes can fuel the medical aesthetics market in the region.
The Middle East Asia medical aesthetics market is expected to rise owing to the existence of the developing healthcare sector. In Latin America, the medical aesthetic market can benefit from the developing healthcare infrastructure and investors exploring the untapped business potential of the region.
Key Players
Galderma Laboratories, L.P (US)., Merz Pharmaceuticals GmbH (Germany), Allergan plc (Ireland), Lumenis (Israel), and Bausch Health (US) are some major players in the global medical aesthetics market that are enlisted by MRFR. FDA approvals, expansions, joint ventures, acquisitions, and collaborations of these eminent players are studied by MRFR to gain insights into the medical aesthetics market’s analysis.
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