Global Medical Aesthetics Market: Expansion of Service Offerings and Adoption of Asia-Pacific Region in Terms of Medical Tourism is Representing a Significant Opportunity

Global Medical Aesthetics Market

Medical aesthetics is that field of healthcare which is focused on the maintenance of beauty in individuals or prevention in the development of any signs of ageing in individuals by way of plastic surgeries or any other cosmetic surgical procedure. This involves utilization of specially designed medical aesthetics products consisting of implants, medical devices and any other associated products. The combination of these products results in the prevention of visual signs of ageing in individuals for a longer duration.

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The main factors behind the growth of the Medical Aesthetics Market are:

  • Aging population globally: With the average age of population rising rapidly, the number of people being categorized under the geriatric population category is at an all-time high. This population group suffers from various visual flaws of their skin and body. This factor is expected to have a positive impact on the demand for medical aesthetics as the majority of the individuals are wanting to stay young for a longer period of time and do not want to exhibit any visual signs of aging. Therefore, they prefer adopting medical aesthetic solutions and services, this will induce the market to experience a healthy growth in the future
  • Technological advancements: Another major reason behind the large-scale adoption of medical aesthetics is the innovations that the major pharmaceutical and cosmetic companies are taking part in. They have initiated the development of technically advanced product offerings and solutions in collaboration with various scientists, experts in the field of medical aesthetics along with the feedback collected from various consumers. These activities will provide the market will advanced levels of product offerings that are more effective than the products already available commercially

The market is segmented on the basis of product type as aesthetic lasers, energy devices, body contouring devices, facial aesthetic devices, aesthetic implants, skin aesthetic devices; application as anti-aging & wrinkles, facial & skin rejuvenation, breast enhancement, body shaping & cellulite, tattoo removal, vascular lesions, psoriasis & vitiligo, others; end user is segmented into cosmetic centres, dermatology clinics, hospitals, medical spas & beauty centres; distribution channel as direct tender, retail.

Some of the Global Medical Aesthetics Market developments are as follows:

  • In April 2019, Merz Pharma announced the launch of their new dermal filler “Belotero Revive”, it is a type of hyaluronic acid (HA) filler consisting of glycerol, which helps in improving hydration, firmness and elasticity of the skin, working underneath it which subsequently result in the reduction of redness and rough skin appearance as well as fine lines. The product is being made available in certain European and South American countries, with greater presence of the product set at a later stage
  • In September 2018, Allergan announced the introduction of “Spotlyte”, a digital hub designed to provide awareness amongst consumers regarding the availability of various medical aesthetic treatments. This digital hub consists of all of the latest news, researches, product reviews, giving an enhanced level of insight into the services available with the aesthetic industry of healthcare

“According to Data Bridge Market Research, Global Medical Aesthetics Market is expected to be growing at a healthy CAGR of 12.1% during the forecast period of 2019 to 2026”

Some of the major players operating in the market are Allergan, Bausch Health Companies Inc., Lumenis, Shanghai Fosun Pharmaceutical Group Co. Ltd., Cynosure, Syneron Medical Ltd, Aerolase Corp., A.R.C. Laser Gmbh, Asclepion Laser Technologies Gmbh, Btl, Cutera, Eclipse, Lutronic, Mentor Worldwide Llc, Merz Pharma, Quanta System, Sciton Inc., Sharplight Technologies Inc, Syneron Medical Ltd., Venus Concept among others.

One of the highlights behind the growth experienced by medical aesthetics procedures is the rising volume of medical tourism services available in the Asia-Pacific region. This is providing a valuable opportunity to different players dealing in medical aesthetics services, products and solutions. The emergence of Asia-Pacific as a highly effective location for patients wanting to undergo aesthetic procedure is due to the low-cost of services and easy product availability.

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