Switzerland Medical Aesthetics Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

GROWING AGING POPULATION:

Plastics surgery in medical aesthetics helps to look young and hence in this market aging population is one of the factors which is driving aesthetics devices markets in Switzerland. In aging population aesthetic surgery is playing a main role to make people look more young and beautiful. In 2015, according to United Nation percentage of population aged 60 years or over has increased from 2015 with 23.6% to 2030 with 30.6%. so the increase in aged population may help to grow the market as people are more attracted to look young and hence they are attracted towards plastics surgery.

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For instance,

  • In February 2018, According to World Development Indicators, population ages 65 and above in Switzerland involves 3.1%, 3.13% in total aging population worldwide for the year 2015 and 2016 respectively.

Increasing aging population in Switzerland leads the people to undergo surgery to look young due to better lifestyle in recent era hence it is helping the market to grow.

TECHNOLOGICAL ADVANCEMENTS:

The Switzerland medical aesthetics market is booming because of awareness regarding aesthetics among the prospective people. The drive to possess perfect figure and shape by humans paces the aesthetics market with innovative technological advancements. The aesthetics market itself has been able to attract huge number of customers in Switzerland. The aesthetics market is expected to develop broadly owing to the growing aesthetics realization among consumers, sprouting procedures, and growing number of incidences of obesity, and promising technological advances which eventually leads to device modernization. For instance, in October 2016, at Merz Pharma, FDA cleared its Cellfina System for the long-term improvement in the appearance of cellulite on the buttocks and thighs of adult females with no loss of benefit for up to 3 years.

  • In 2017, Artexis Easyfairs organized 200 or more than that events in about nineteen countries in which such as Belgium, Denmark, Russia, Switzerland and many companies were involved. In these events the main aim was to display the latest innovations by suppliers, manufacturers and distributers among the people.

Some of the new facials innovations in the field of aesthetics are oxygen-infused facials, medical facials, and vampire facial, microneedling, body sculpting, vaginal rejuvenation. One of the latest technologies in medical aesthetics market is microneedling. Microneedling is a skin treatment also known as Collagen Induction Therapy. Microneedling is a treatment wherein, the tiny needles are inserted into the skin in order to create wounds on the outermost skin which helps to stimulate the production of collagen and the other growth factors. Microneedling is gaining popularity among patients and professionals as it is simple and fast.

TECHNOLOGICAL ADVANCEMENTS & MODIFICATIONS IN THE PRODUCTS:

Companies dealing in the medical aesthetics market have been leveraging mergers and acquisitions, internal R&D and new partnership to expand their business in other regions, especially in promising emerging market. The aim is to increase their medical aesthetics market size and to grab the opportunity of medical aesthetics devices in market.

There are various companies acquiring other companies to enhance their business in market along with expanding their presence in other countries. For instance,

  • In the year 2015 Allergan, the maker of Botox and Juvederm, merged with Pfizer, the maker of Celebrex. This merger created the largest pharmaceuticals company in history worth USD 160 billion.
  • In September, 2016 Galderma and Mentor Worldwide collaborated in Canada with Canadian surgeons in order to provide customised offering to healthcare professionals who have shared patients looking for aesthetics injectable treatments and breast augmentation.
  • In September 2018, Allergan acquired Bonti Inc. and obtained global rights to Bonti's pipeline that comes in medical aesthetics sector of the company. With this the company enhanced their business sector in market with significant addressable opportunities.

Taking strategic decisions by the companies to enhance their business may be the better step to grow the market. In strategic decision such as collaborations, mergers, acquisitions provides better opportunity to companies in order to enhance the business sin market.

Restraints:

REGULATORY SCENARIO:

Every medical aesthetics company no matter how big or small, which market it is covering must adhere to the regulatory requirements. The medical aesthetics is under the stringent government regulations. The manufacturers of the medical aesthetics devices and products need to go through various levels of testing before the final validation. Complying with the FDA’s standards requires specialised skill sets, resources, time and money. Medical aesthetics are subjected to have pre-market approval application (PMA) in accordance with the Federal Food, Drug, and Cosmetic Act (FFDC) and its regulations. Majority of the medical aesthetics falls under the Class III device of FDA.

In Switzerland, there are number of regulations on medical devices which are primarily based on:

  • The Federal Act on Medicinal Products and Medical Devices
  • The Medical devices ordinance (Medizinprodukteverordnung MepV),
  • The Federal Act on Research involving Human Beings (also known as 'Human Research Act')
  • The Ordinance on clinical trials in human research ( Clinical Trials Ordinance; ClinO or Verordnung über klinische Versuche, KlinV).

Due to strict and many rules and regulations by the government may restrain the market to grow. For instance, medical devices are required to undergo with number of inspection criteria which is sometime difficult for manufacturer to maintain.

HIGH COST OF TREATMENT:

Increasing trend of looking young and beautiful have increased the demand of medical aesthetics surgeries but the high cost associated with it is restraining the market to grow. As the society lost its philosophy of inner beauty long back, and the increasing stress on the physical beauty is leading into the growth of the people going for the medical aesthetics treatment. The below tables are depicting the cost of the treatment in Switzerland.

Opportunity:

IMMINENT HEALTH REVOLUTION:

Standard of living in developing countries such as India, Brazil, South Africa, Thailand and many others have improved in the past one decade. People are opting different aesthetics surgeries to maintain themselves, which give them better results without any stressful physical efforts.

There are many clinics in Switzerland that involves medical aesthetics such as breast augmentation with implants lip surgery, breast reduction, otoplasty, neck surgery and others for people who wants to look more young and beautiful and they are Laclinic Montreux, Mehrwert-Services AG, Swiss Plastic Surgery and others.

For instance,

  • DR. KÖHLER, a prevention center has carried out more than 3.000 eyelid lifts, over 2.000 breast surgeries, among many other cosmetic surgeries
  • DR. KÖHLER basically focus on aesthetic treatments and provides customers most beautiful body by different implants. This center has also performed more than 40.000 wrinkle treatments with botulinum toxin and fillers.

Increase in demand for the implants among aged people is the major reason for growing the market. There are various surgeries which are involved such as liposuction, tummy tuck and nose correction through to breast enlargement and intimate surgery and others. And availability of the devices due to advancement fulfils the demand of people to live better lifestyle.

GROWING MEDICAL TOURISM:

The Health Tourism in Switzerland is found to be growing the most in the last decade. Due to this around 3.0 billion of USD are generated by the Medical and Wellness Tourism. In this the 70.0% of the total sum is related to wellness (spas) and the remaining 30.0% of medical care. In recent time the number of self-paying patients from abroad or other country who travel to Switzerland to seek health care is estimated to be around 0.5-5.0% of all patients being treated by the Swiss healthcare system.

Wellness and Medical Tourism are considered as a sub-segments of Health tourism, in which wellness is more related to relaxation, spas and thermal treatment, facials, homeopathy and others that normally do not require qualified doctors. Medical tourism instead, is referred more to medical procedures and surgeries where qualified professional are of major concerns for the all procedure. Hence, the reduced cost of treatment attracts the medical tourists to the Asian countries.

Challenge:

INCREASING COMPETITORS:

The healthcare industry is becoming one of the most competitive industries due to increase in the prevalence of the diseases and the initiatives taken by the various government bodies. Emerging competitors are gearing up to the challenge of surviving in the competitive aesthetics market by offering technological advantages and affordability. Recently, Allergan acquired Zeltiq. This acquisition will help Allergan to expand its portfolio with the best–in-class body contouring devices. Other competitor in the market includes Neograft, BTL INDUSTRIES, Ltd., Merz Aestehtics Surgical Specialities Corporation and many more. For instance, Merz acquired Ulthera, which is a medical device company. Ulthera's` ultherapy is the only FDA passed, non-invasive treatment which helps in lifting and tightening skin of neck, chin, and brow and also improves lines and wrinkles on the chest. Chinese companies are giving strong competition to top players. As the Chinese companies provides the devices and treatments at the low cost capturing the local markets in the developing countries such as Beijing Syntech Laser Co., Ltd, Xi'an TaiBo Beauty Equipment Company, Beijing Toplaser Technology Co,. Ltd.

There are number of companies provides medical aesthetics devices in different switzerland and they are Cynosure Inc., LUTRONIC, Mentor Worldwide LLC, Sciton, Inc., Lumenis and many others. These companies provides product with different prices in different countries that can be challenge for the market.

Increase in the competition from the other companies may act as a challenge for the growth of the medical aesthetics market for the branded products.

Market Trends:

On the basis of product type, the market is segmented into aesthetics laser devices, energy devices, skin tightening & body contouring, aesthetics implants, and facial aesthetics devices.Aesthetics laser devices is further sub-segmented into fractional carbon dioxide laser resurfacing, ablative skin resurfacing devices, and non-ablative fractional laser skin resurfacing. The energy devices are sub-segmented into electrocautery, electrosurgery, cryosurgery, laser surgery, microwave, harmonic scalpel. The skin tightening and body contouring devices are segmented into liposuction devices, skin tightening devices, cellulite reduction devices. Aesthetic implants are segmented into breast augmentation, soft tissue implants, aesthetics dental implants, buttock augmentation, and transdermal implants. The facial aesthetics devices is further segmented into botox injections, chemical peels, collagen injection, cosmetic acupuncture, dermal filler injections, electrotherapy, facial toning, fraxel, microdermabrasion, laser resurfacing. In 2019, energy devices is expected to dominate the Switzerland medical aesthetics market with 27.1% market share and growing at the CAGR of 11.1% in the forecast period of 2019 to 2026. However, skin tightening and body contouring devices segment is growing with the highest CAGR 13.8% in the forecast period of 2019 to 2026.

On the basis of application, the market is categorized into anti-aging and wrinkles, facial & skin rejuvenation, vascular lesions, body shaping & cellulite, breast enhancement, scars, pigment lesions, reconstructive surgery, tattoo removal, hair removal, psoriasis & vitiligo, skin tightening and others. In 2019, anti-aging and wrinkles segment is expected to dominate the Switzerland medical aesthetics market with 26.4% market share and is growing at the highest CAGR of 13.6%in the forecast period of 2019 to 2026.

On the basis of end user, the market is categories into hospitals, dermatology clinics, cosmetic centers, and medical spas & beauty center. In 2019, dermatology clinics segment is expected to dominate the Switzerland medical aesthetics market with 27.6% market share and is growing with the CAGR of 11.9% in the forecast period of 2019 to 2026. However, medical spas and beauty center segment is growing with the highest CAGR 13.8% in the forecast period of 2019 to 2026.

On the basis of distribution channel, the market is categories into direct tenders and retail. In 2019, direct tenders segment is expected to dominate the Switzerland medical aesthetics market with 64.9% market share and is growing at the CAGR of 11.9% in the forecast period of 2019 to 2026. However, retail segment is growing with the highest CAGR 13.5% in the forecast period of 2019 to 2026.

Major Players: Switzerland Medical Aesthetics Market

Some of the prominent participants operating in this market are ALLERGAN, Shanghai Fosun Pharmaceutical(Group)Co., Ltd., QUANTA AESTHETICS LASERS, Syneron Medical Ltd, Cutera, Sciton, Inc., Lumenis, LUTRONIC and others.