According to the report Global Medical Aesthetics Devices market, published by Market Data Forecast, the Market was worth USD 5.8 billion in 2016 and estimated to be growing at a CAGR of 10.6%, to reach USD 9.6 billion by 2021. Procedures such as cellulite treatment, energy-based skin contraction, non-ablative laser-build skin resurfacing and fat removal are some of the new techniques, as well as the flourishing and ever-progressing area of laser (and other energy-based) enduring hair reduction.
Medical aesthetics is a division of medical science which deals with the utilization of artificial organs and body parts for patients who have mislaid a body part or are in necessity of remedial surgery on a body part. At present, energy-based aesthetic medication is accessible to treat nearly each and every difficult skin defect from sun damage, scars, vascular lesions, pigmentation/redness, acne, and mild-to-moderate facial or leg veins and also tattoo removal. Generally treatments are rapid and almost painless and may guide to better-toned, clearer, tighter and younger-looking skin.
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The past few years have been influential to ensure speedy growth in demand for aesthetic devices. The initiation of technically developed products enabling modestly invasive surgeries is recognized as the most significant growth driver. Additionally, increase in disposable income has augmented the demand for cosmetic surgeries, thus fuelling market growth. Conversely, side effects allied with aesthetic procedures persist to negatively impact the consumer inclination towards these procedures.
The Global Medical Aesthetics Devices market is segmented on the basis of product type into Energy based devices, implants and anti-wrinkle products. Energy based devices are further sub-segmented into Aesthetic Laser Devices, Body Contouring Devices, Microdermabrasion and Ultrasound. Also, anti-wrinkle sector is further divided into Botulinum toxin, Dermal Fillers and Chemical Peel. Based on procedures the market is segmented into cosmetic procedures and reconstruction procedures. Cosmetic procedures are of two kinds minimally invasive and surgical procedures. On the basis of end users, the market is bifurcated into home use and clinics and beauty centres. The anti-wrinkle products section is estimated to show considerable growth during the forecast period due to wide accessibility of these products, immediate and continual results and deteriorating costs.
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Based on geography the market is analyzed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. Asia Pacific is dominating the global market owing to a huge amount of surgical procedures performed in the developing countries like South Korea, Japan, and China each year. Furthermore, increasing disposable income along with existence of a large pool of working population is creating demand for aesthetic procedures in these countries.
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The market for aesthetic medicine is highly fragmented with many local players competing with international players. Some of the key players in the global medical aesthetic market are Allergan, Cynosure, Johnson & Johnson, LCA Pharmaceutical, Galderma Pharma, Solta Medical, Cutera, Focus Medical, Human Med Ag, Genzyme Corporation, Alcon Inc. and Alma Lasers.
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