What This Report Will Provide?
This study involved four major activities in estimating the current size of the medical aesthetics market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.
Expected Revenue Growth:
The global medical aesthetics market is projected to reach USD 15.9 billion by 2025 from USD 9.4 billion in 2020, at a CAGR of 10.9%.
Major Growth Boosters:
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 are the key factors driving the growth of this market.
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Recent Developments:
In November 2020, AbbVie (US) acquired Allergan (Ireland) to form a global segment—Allergan Aesthetics in order to improve its medical aesthetics product line.
In January 2019, HRA Pharma (France) acquired Merz (Germany) to enhance its product portfolio in surgical medical aesthetics.
Geographically, this market is divided into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America is expected to account for the largest share of the global medical aesthetics market in 2019, 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.
Key Questions Addressed in The Report:
1. Who are the top 10 players operating in the global medical aesthetics market?
2. What are the drivers, restraints, opportunities, and challenges in the medical aesthetics Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of medical aesthetics in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?
COVID-19 Impact on Medical Aesthetics Market:
The COVID-19 pandemic has significantly affected the medical aesthetics market. The beauty and luxury sector is facing challenges in its manufacturing and supply chain, such as delivering products to end users in a timely manner as well as attending to an uneven demand for products and services. The market is facing a period of short-term negative growth, which can be attributed to factors such as a decline in the product demand from major end users, limited operations in most of the industries, temporary closure of major end-user facilities (including beauty centers and spas), disrupted supply chain, and challenges in terms of providing essential/post-sales services due to the lockdown.
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Key Players:
Allergan-AbbVie (US), Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), Cynosure (US), El.En. S.p.A. (OTCPK:ITALY), Fotona d.o.o. (Slovenia), Galderma (Switzerland), 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 Baush Haealth (US) are some of the key players operating in the global medical aesthetics market.