Medical Aesthetics Market is anticipated to grow at a double digit CAGR from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Medical Aesthetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global medical aesthetics market is estimated to be over US$ 9.0 Bn in 2017. It is anticipated to grow at a double digit CAGR from 2019 to 2030.
The continual growth of the medical aesthetic market can be attributed to several factors which have led to wide scale adoption of products and several devices, which are extensively used to improve physical appearance of patients. Moreover, the growing demand for cosmetic procedures and therapies across the globe is anticipated to further contribute to the substantial growth of the global medical aesthetic market between 2019 and 2030.To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. The Anglia Ruskin University, based in England, has entered into an agreement with Allergen Inc., a medical aesthetic company, to develop educational program for practicing physicians in the Asia Pacific region on facial aesthetics.
Rise in Medical Tourism
Over the years, the emergence of medical tourism as a popular and profitable industry has played a vital role in contributing to the growth of the global medical aesthetic industry. Several countries, namely India, Turkey, Thailand, Brazil and other developing countries have emerged as essential contributors to global medical tourism industry. Multiple factors have been responsible for attracting patients to medical tourism. Cost effectiveness, availability of personalized and tailor-made services, better facilities, convenience, and advanced technologies have been vital in contributing to the medical travel facilities. In 2017, it was estimated that the total number of medical tourists across all countries was a staggering 14-16 million. It is further expected that the number of medical tourists travelling abroad seeking treatments and procedures will additionally increase at a rate of 25% every year. Cosmetic treatments have been one of the most lucrative therapy segments which have witnessed lucrative increment in terms of the number of medical tourist over the past few years. Attractive pricing coupled with availability of advanced technology has been a major driver for the global medical aesthetic market, which is further anticipated to grow in the coming years.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Medical Aesthetics Market by Product (Implants (Face, Breast, Soft Tissue), Body Contouring (Liposuction, Cellulite Reduction Devices), Aesthetic Products (Botulinum Toxin, Dermal Fillers) Lasers & Energy Devices (Hair, Tattoo, Laser Skin Resurfacing, Micro Needling), End Users (Dermatology Clinics, Cosmetic Centers, Hospitals) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/medica-aesthetics-market /12
Increasing Adoption of Minimally-Invasive Procedures
Since the advent of minimally-invasive procedures, the adoption of such procedures have witnessed substantial growth in recent times. Shorter hospital admittance time, lesser procedure associated pain and fewer complications have been pivotal in contributing to the growing adoption of minimally-invasive procedures. According to the American Society of Plastic Surgeons (ASPS), the numbers of Americans opting for minimally-invasive cosmetic procedures have witnessed a growth of nearly 200% since 2000. In 2017, the total number of cosmetic procedures performed in U.S. was nearly 1.8 million. Growing preference for minimally-invasive cosmetic procedures in anticipated to further propel the growth of the medical aesthetic market.
Complications And Risk Related Associated with Cosmetic Procedures to Restrain the Market
Various complications and risk related to cosmetic procedures have been major factors that have been affecting the growth of the medical aesthetic industry inversely. Several complications such as nerve damage, infections, seroma and pulmonary embolism are known to cause serious adverse and side effects as a result of different cosmetic or aesthetic procedures. Similarly, patients have reported granulomas, and infections as long-term adverse effects caused as a result of cosmetic procedures.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, rising medical tourism and increasing awareness regarding cosmetic treatment and latest technologies is anticipated to present a lucrative growth scenario for the medical aesthetic market in this region. Furthermore, attractive procedure rates, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
Major Players in the Medical Aesthetic Market
The prominent players in the global medical aesthetics market are Cutera, Inc., Cynosure (Hologic), Alma Lasers, Ltd. (Fosun Pharmaceutical Co., Ltd.), Galderma, Mentor Worldwide LLC (Johnson & Johnson), Syneron Medical Ltd., Merz Pharma GmbH & Co. KGaA., Solta Medical, Inc., Lumenis Ltd., and El.En. S.P.A. among others.
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