Medical aesthetics: Key market research findings
- Increase in the use of non-invasive laser technologies
- Low treatment options available in developing countries
Technavio has added a new market research report on the global medical aesthetics market, which is expected to grow at a CAGR of more than 7% between 2016 and 2020. Increase in cosmetic surgeries among the aging population is one of the key drivers of this market’s growth. The Americas lead the global market for medical aesthetics, accounting for around 54% of the overall market revenue. Much of this region’s growth comes from the rise in the number of surgical and non-surgical aesthetic procedures among the individuals seeking skin treatments.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“In the recent years, this market has witnessed the development of various non-invasive laser technologies such as transdermal focused ultrasound, low-level laser, high-intensity focused ultrasound, and monopolar radiofrequency. Vendors are coming up with advanced collagen-based materials such as bovine collagen and bioengineered human collagen that contain lidocaine as dermal fillers. These technological advancements have propelled the use of minimally invasive surgeries as they offer rapid recovery, shorter hospital stays, and limited risk of complications,” says Brahadeesh Chandrasekaran, Lead Analyst, Healthcare & Lifesciences, Technavio Research
Some of the major cosmetic surgery procedures are breast augmentation, nose reshaping, liposuction, eyelid surgery and facelifts. The developing countries are offering high-quality treatment at a lower cost than developed nations, which has resulted in the influx of medical aesthetic practices in Latin America and APAC. People travel from the US and Europe to Hungary, Mexico, India, and Malaysia for dental treatments, saving about 55%-70% of their treatment expenses.
The key vendors in the global medical aesthetics market include Allergan, Cynosure, Galderma, Mentor, Merz Aesthetics, Nobel Biocare, Starumann and Syneron Medical. This market is organized and extremely fragmented with the presence of various international and local players. The major players are extending their market outreach in emerging countries through innovative product launches and wide distribution networks. Emerging and new entrants in the market need to use innovative strategies and introduce a broad product portfolio to improve their market position.
A more detailed analysis is available in the Technavio report, Global Medical Aesthetics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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