Medical Aesthetics Market Overview
MRFR (Market Research Future) believes that the medical aesthetics market can grow at a healthy rate of 8.30% over the appraisal period (between 2020 and 2027). The global medical aesthetics market will be valued at USD 38,850.89 Million by the end of the review period, reveals MRFR.
Growth Boosters and Deterrents
Medical aesthetics is a fast-emerging trend among baby boomers worldwide. It has now become almost a crucial aspect of regular health treatment for people desiring a healthier and more natural appearance. Laser-based solutions are gaining immense traction, as these are non-invasive and cause absolutely no pain post-surgery, giving a natural look. Research activities based on development of new technologies and the rising use of a combination of light technologies, ultrasound, endermology, and cryolipolysis or reducing fat and cellulite, would favor the global industry in the ensuing years.
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Significant awareness levels among people about the latest products available and the soaring popularity of minimally invasive procedures have raised the demand for cost-effective cosmetic surgeries and aesthetic medicines. The escalating spending power of consumers and surgical interventions gaining high prevalence among the working population will also facilitate growth of the medical aesthetics industry in the future.
Medical Aesthetics Market Segmentation
Medical Aesthetics Market, with respect to product, caters to skin aesthetic devices, body contouring devices, hair removal devices, facial aesthetic, tattoo removal devices, cosmetic implants, and others.
Various technologies covered in the report are non-invasive, invasive, along with minimally invasive.
Major end-users of medical aesthetics are hospitals & clinics, dermatology & cosmetic centers, and others. Blossoming patient base in conjunction with rising admission rates across clinics and hospitals has fostered demand for medical aesthetics. This should have a significant impact on the global market for medical aesthetics in the years to come.
Medical Aesthetics Market Regional Insight
The key regions covered in the MRFR research study are Europe, the Middle East & Africa or MEA, Asia Pacific or APAC, and the Americas.
The Americas can be split into North America as well as Latin America, while North America can be considered for Canada and the US. The American market is in the lead and is expected to retain its leadership all through the appraisal timeline. The presence of a modern healthcare infrastructure coupled with the surging cases of skin disorders favor the regional market.
The European market for medical aesthetics has been segmented into Western Europe as well as Eastern Europe. Western Europe has developed nations such as Germany, France, the UK, Spain, and Italy, all of which have a robust healthcare infrastructure. With a supportive government, surge in research and development activities and companies’ rising focus on business expansion, Europe is touted to capture a higher share in the global market over the next couple of years.
With India, Japan, Australia, South Korea, and China standing at the vanguard, the Asia Pacific market is presumed to witness the fastest growth between 2020 and 2027. The massive pool of skilled and certified cosmetic surgeons, emergence of modern technologies and availability of cheaper priced treatments also benefit the APAC market.
Important medical aesthetics developers in the global industry include Galderma Laboratories, Allergan plc (Ireland), Lumenis (Israel), Merz Pharmaceuticals GmbH (Germany), Bausch Health (US), L.P (US), and more.
Some of the major strategic measures undertaken by the firms active in the worldwide market for medical aesthetics are joint ventures, FDA approvals, expansions, collaborations, and acquisitions, among others.
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Straumann Group, a renowned developer of orthodontic and tooth replacement solutions has partnered with Aspen Dental Management Inc., offering dental implant solutions, CAD/CAM options, and abutments to over 1000 ADMIs and offices in 45 US states. This partnership would comprise Aspen Dental, a rapidly emerging brand of dental offices in the United States, coupled with ClearChoice Dental Implant Centers, established player in full arch, fixed dental restorations category for patients with failing or missing dentition.
BMG Pharma has joined hands with HTL to develop and commercialize a series of injectable products containing sodium hyaluronate lipoate formate. This partnership will entail HTL developing, scaling-up, and manufacturing a functional high-grade injectable hyaluronic acid-based active ingredient called SHLF.
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