What's Driving the Aesthetic Medicine Market Growth? Key Players: Allergan, Alma Lasers North America, Johnson & Johnson, Cynosure, Inc.

Sellbyville, DE -- (SBWire) -- 05/31/2019 --The Aesthetic Medicine Market is set to exceed USD 18.5 billion by 2024; according to a new research report by Global Market Insights. Developments in surgical as well as non-surgical aesthetic procedures will be the key factor that will drive the global aesthetic medicine market during the forecast period. Availability of advanced aesthetic devices that offer effective, time-saving and minimally invasive treatments will increase the adoption of such devices. Huge investments in R&D will lead to innovations in aesthetic medicines thereby augmenting the aesthetic medicine industry growth. For instance, Ideal Implants Inc. developed ideal implant, a structured breast implant that combines benefits of saline implants and silicone implants.

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Rising demand for aesthetic procedures among the rapidly growing geriatric population base will serve to be another positive impact rendering factor in the market growth. According to the American Society of Plastic Surgeons report, in 2016, around 85,000 facelift procedures were performed in the U.S. population aged 55 years and above. Moreover, increasing prevalence of obesity in developed as well as developing countries will spur the demand for body contouring procedures thereby accelerating the market growth. However, strict regulations for designing and manufacturing aesthetic devices may hamper the aesthetic medicine market growth in the foreseeable future. Furthermore, high cost of aesthetic procedures coupled with poor reimbursement scenario will hinder the aesthetic medicine industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Allergan
- Alma Lasers North America
- Johnson & Johnson
- Cynosure, Inc.
- Galderma
- Lumenis
- Merz Pharma
- PhotoMedex
- Syneron Candela
- Valeant Pharmaceuticals
- ZELTIQ Aesthetics, Inc.

Surgical procedures segment is estimated to show 10.2% CAGR during the analysis period owing to increasing adoption of facial surgeries such as eyelid surgery, nose surgery, neck lift and facelift across the globe. Increasing prevalence of obesity will upsurge the need for fat reduction surgeries such as liposuction, labiaplasty and surgeries of other body extremities. Moreover, awareness among people regarding aesthetic procedures coupled with increasing affordability and advanced healthcare infrastructure will stimulate the segmental growth in the coming years.

Non-surgical procedures segment accounted for the highest revenue share in 2017 and is estimated to show 10.8% CAGR during the forecast period. As per the American Society for Aesthetic Plastic Surgery, in 2016, the number of surgical and non-surgical cosmetic procedures performed in the U.S. accounted for 2.0 million and 11.7 million respectively. Increasing adoption of minimally invasive or non-invasive procedures over surgical procedures coupled with technological developments will drive segmental growth in the coming years.

Breast aesthetics segment accounted for 12.7% revenue share in 2017 and is expected to show lucrative CAGR during the analysis period. The growth is attributable to factors such as increasing prevalence of breast cancer and growing demand for surgical procedure. As per the Westlake Dermatology & Cosmetic Surgery, number of breast augmentation procedures performed in the age group between 20-29 years accounted for 82,000 in 2016. Growing concerns among youth regarding appearance of the breast, especially after pregnancy or considerable weight fluctuations will further augment the demand for such procedures and spur the aesthetic medicine market size.

Hospitals end user segment is estimated to witness 9.7% CAGR during the forecast timeframe. The segment growth is highly attributable to growing inclination of people towards aesthetic procedures, developments in healthcare infrastructure and rising disposable income in developed as well as developing economies. Furthermore, affordability of hospitals to buy high-cost instruments and availability of skilled healthcare professionals will further propel the segment growth in coming years.

U.S. aesthetic medicine market accounted for USD 3.5 billion in 2017 and is estimated to show lucrative growth over the forecast period. Increasing demand for aesthetic enhancement, high healthcare expenditure as well as availability of advanced healthcare infrastructure will spur industry growth. Key industry players in the aesthetic medicine market have strong foothold in the U.S. High demand for technologically advanced devices and less invasive procedures will further elevate the regional growth during the forthcoming years.

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Aesthetic Medicine Market, by Type, 2013-2024 (USD Million)

1 Surgical procedures
2 Non-surgical procedures

Aesthetic Medicine Market, by Product, 2013-2024 (USD Million)

1 Breast aesthetics
2 Body contouring devices
3 Hair removal devices
4 Tattoo removal devices

Chapter 3. Aesthetic Medicine Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces

3.3.1. Growth drivers
3.3.1.1. Increasing awareness regarding aesthetic procedures in developing countries
3.3.1.2. Technological advancements associated with medical aesthetic devices
3.3.1.3. Rising prevalence of obesity worldwide
3.3.1.4. Increasing adoption of less or non-invasive procedures

3.3.2. Industry pitfalls & challenges

3.3.2.1. High costs associated with aesthetic procedures
3.3.2.2. Lack of reimbursement and stringent regulatory scenario

Chapter 7. Aesthetic Medicine Market, By End-use

7.1. Key segment trends

7.2. Hospitals
7.2.1. Market size, by region, 2013-2024 (USD Million)

7.3. Ambulatory surgical centers
7.3.1. Market size, by region, 2013-2024 (USD Million)

7.4. Beauty centers & medical spas
7.4.1. Market size, by region, 2013-2024 (USD Million)

7.5. Dermatology clinics
7.5.1. Market size, by region, 2013-2024 (USD Million)

7.6. Home settings
7.6.1. Market size, by region, 2013-2024 (USD Million)

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Data Tables

TABLE 1. Aesthetic medicine industry 360° synopsis, 2013 – 2024
TABLE 2. Global aesthetic medicine market, 2013 – 2024 (USD Million)
TABLE 3. Global aesthetic medicine market, by type, 2013 – 2024 (USD Million)
TABLE 4. Global aesthetic medicine market, by product, 2013 – 2024 (USD Million)
TABLE 5. Global aesthetic medicine market, by gender, 2013 – 2024 (USD Million)
TABLE 6. Global aesthetic medicine market, by end-use, 2013 – 2024 (USD Million)