Medical Aesthetics

Medical Aesthetics: An Evolving Market in Beauty Centers and Spas of Healthcare Industry

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Medical aesthetics is a method that utilizes minimal invasive treatments that aid to improve the physical appearance of a person with the use of beauty services and healthcare along with laser or any other energy-based device. There are abundant factors that are propelling the growth of the global medical aesthetics market.

The global medical aesthetics market is projected to reach USD 17.07 billion by 2023 from USD 10.30 billion in 2018, at a CAGR of 10.6%.

Medical Aesthetics Market

Growth in this market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced & user-friendly products, and the increasing demand for aesthetic treatments among men.

The facial aesthetic products segment is expected to account for the largest share of the medical aesthetics market in 2018. The market for facial aesthetics products is further subsegmented into botulinum toxin, dermal fillers, microdermabrasion, and chemical peels.

The botulinum toxin segment is expected to witness the highest CAGR during the forecast period. The increasing number of botulinum toxin procedures due to the growing awareness and the rising willingness amongst people to undergo this procedure is the major factor driving the growth of this market segment.

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Medical Aesthetics Product

  • Facial Aesthetic Products
    • Dermal Fillers
    • Botulinum Toxin
    • Microdermabrasion
    • Chemical Peels
  • Body Contouring Devices
    • Nonsurgical Fat Reduction Devices
    • Cellulite Reduction Devices
    • Liposuction Devices
  • Cosmetic Implants
    • Breast Implants
      • Silicone Implants
      • Saline Implants
    • Facial Implants
    • Other Cosmetic Implants
  • Hair Removal Devices
    • Laser Hair Removal Devices
    • IPL Hair Removal Devices
  • Skin Aesthetic Devices
    • Laser Resurfacing Devices
    • Nonsurgical Skin Tightening Devices
    • Micro-needling Products
    • Light Therapy Devices
  • Tattoo Removal Devices
  • Thread Lift Products
  • Physician-dispensed Cosmeceuticals and Skin Lighteners
  • Physician-dispensed Eyelash Products
  • Nail Treatment Laser Devices

Over the past three years, a number of market companies, including   Allergan (Ireland), Galderma (Switzerland), Cynosure (US), Syneron Candela (US), Mentor (a subsidiary of Johnson & Johnson) have strategically expanded their presence in emerging APAC countries (including China, South Korea, India, Taiwan, and Singapore) to leverage the high growth potential in this region.

The global medical aesthetics market has witnessed the launch of several low-cost, home-use aesthetic devices. These affordable and home-use products result in reduced overall treatment and improve customer comfort. The growing availability of low-cost medical aesthetic devices and the growing adoption of home-use aesthetic devices are expected to offer high-growth opportunities to the emerging as well as prominent product manufacturers.

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Market Dynamics

The global medical aesthetics market is expected to witness robust growth during the forecast period. Growth in this market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced & user-friendly products, and the increasing demand for aesthetic treatments among men.

On the other hand, market growth is limited to a certain extent by factors such as the clinical risks and complications associated with medical aesthetic procedures and the increasing availability and adoption of alternative beauty and cosmetic products.

Driver: Growing adoption of minimally invasive and noninvasive aesthetic procedures

In the past decade, there has been a significant increase in the preference for minimally invasive and noninvasive aesthetic procedures over traditional surgical procedures. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, such as less pain, reduced scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures.

Globally, 13,209,539 nonsurgical aesthetic procedures were performed in 2016 as compared to 12,055,418 procedures in 2015. This represented a growth of 10% from 2015–2016 (Source: ISAPS). According to the American Society for Aesthetic Plastic Surgery (ASAPS), in the US, the number of nonsurgical aesthetic procedures performed increased by 7.3% during 2015–2016. In 2016, 55.9% of all aesthetic procedures performed worldwide were estimated to be nonsurgical procedures while surgical procedures accounted for 44.1% of the total aesthetic procedures (Source: ISAPS).

Restraint: Clinical risks and complications associated with medical aesthetic procedures

In the past two decades, medical aesthetic procedures have become increasingly popular. The market has witnessed significant growth in the demand for aesthetic treatments owing to the rise in the number of doctors and surgeons providing safe and effective medical aesthetic treatments and the launch of technologically advanced products for the same.

However, medical aesthetic procedures are associated with various possible side-effects. Patients undergoing aesthetic treatments may face several risks and complications after or during the procedure, some of which are listed below:

  • Hematoma or seroma: This complication is common in breast implant and cosmetic implant surgeries. A hematoma or seroma is a large painful blood clot near/under the site of surgery.
  • Nerve damage: Nerve damage results in numbness and a tingling sensation and, in extreme cases, may also result in paralysis.

Other issues related to aesthetic treatments include anesthesia-related complications, organ damage, and infections, among others. These problems are expected to hamper the adoption of medical aesthetic treatments, which in turn, is likely to restrain the market growth.

See Also: 15 Top Companies in Breast Imaging Market Growth in Healthcare

Geographical Region Covered

Medical Aesthetics Market

Geographically, this market is divided into North America, Europe, Asia Pacific, and the RoW. North America is expected to account for the largest share of the global medical aesthetics market in 2018, and this trend is expected to continue during the forecast period.

However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. Rising consumer knowledge and interest in procedures, strong local economies, aggressive marketing by leading US and European companies in Asia, rising medical tourism, and increasing awareness about aesthetics are some of the key factors driving the growth of the medical aesthetics market in the Asia Pacific.

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