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Medical Aesthetics Market: In November 2020, AbbVie (US) Acquired Allergan (Ireland) To Form A Global Segment

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  • What is the expected addressable market value of major medical aesthetics products over a 5-year period?
  • Which product categories are expected to have largest share in the medical aesthetics market?
  • What are the major revenue pockets in the medical aesthetics market currently?
  • What are the key challenges for medical aesthetics products prevalent pertaining to the major end users?

Key Factors Impacing The Medical Aesthetics Market Development:

  • Growing adoption of minimally invasive and noninvasive aesthetic procedures
  • Rising adoption of aesthetic procedures among geriatric individuals
  • Availability of technologically advanced and user-friendly products
  • Increasing demand for aesthetic treatments among men
  • Growing adoption of home-use aesthetic devices

Expected Revenue Growth Analysis:

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%.

Medical Aesthetics Market

Leading Players:

The major players operating in the medical aesthetics market are 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 Health, Inc. (US).

An analysis of the market developments between 2017 and 2020 has revealed that several growth strategies, such as product launches, product approvals, and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the medical aesthetics market. Product launches and acquisitions were the most widely adopted growth strategies by market players in the last four years.

Allergan-AbbVie (US), held the leading position in the facial aesthetics market in 2019. It has a broad product portfolio and focuses on continuous innovation and the development of new products to sustain its leadership position in the market. Over the last few years, the company enhanced its share in the market by introducing new products and securing approvals for various medical aesthetic products. For example, the company received FDA approval for the Coolsculpting treatment, BOTOX Cosmetic (OnabotulinumtoxinA), JUVÉDERM VOLLURE XC gel filler, and NATRELLE INSPIRA in the last three years. During the same period, the company launched new products, including JUVÉDERM VOLBELLA XC and Juvéderm Volite. A strong focus on product launches enables the company to enhance its product portfolio and cater to the growing needs of patients and surgeons.

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Leading Segments:

The facial aesthetic products segment is expected to hold the largest share of the medical aesthetics market in 2019. The large share of this segment is attributed to the growing patient demand for facial aesthetic treatments, increasing disposable income and spending capabilities, and the rising geriatric population across the globe.

This end-user segment like clinics, hospitals, and medical spas is expected to be fastest-growing end-user segment during the forecast period, owing to the increasing number of clinics and medical spas and the high availability of financial and infrastructural resources with hospitals, including technologically advanced devices, trained staff, and skilled professionals to perform aesthetic procedures.

Geopgraphic Growth Analysis:

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.

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