Aesthetic Medicine Market (By Product: Implants, Anti-wrinkle Products [Dermal Fillers, Botulinum Toxin, Chemical Peel], Energy-based Devices [Aesthetic Laser Devices, Microdermabrasion Devices, Ultrasound Devices, Body Contouring Devices]; By End Use: Home Use, Clinics and Beauty Centers) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The global aesthetic medicine market is expected to grow at noteworthy CAGR around 8.5 % throughout the forecast period and reach around US$ 16.3 billion by 2026.

Aesthetic Medicines is a clinical subspecialty and field for scientific research that includes all kinds of medical processes aimed at improving the patient's physical appearance and happiness including all cosmetic procedures that are not invasive or minimally intrusive. Aesthetic Medicine is a fresh and interesting field in contemporary medicine. Today, not only do individuals want to be healthy but to live a complete life, to look fit and to decrease the impacts of ordinary ageing.

The report provides analysis of global Aesthetic Medicine market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Dynamics

The most important growth driver will be the introduction of technically sophisticated products that enable minimally invasive surgeries. In addition, the demand for cosmetic surgeries was enhanced by an increase in disposable revenue, thus accelerating market development.

The adverse effects of these esthetic methods on the customer preference index continue, however, to have a negative effect. Furthermore, the development may be limited by a strict regulatory structure, ensuring product safety and effectiveness and high expenses of general therapy. Furthermore, operations and processes that are minimally invasive demand qualified experts.

As a result, the absence of specialists in the sector could also adversely affect market trends. However, an increased proportion of workers will probably promote market growth during the forecast period, particularly in emerging Asian Pacific economies like India and China.

Thus, the demand for esthetic drugs will improve in the forecast period with the improvement of jobs. In addition, the increasing geriatric population is anticipated to drive market growth, boosting product demand as a result. Geriatric population, which can be treated with aesthesia products, is extremely susceptible to wrinkles, absence of skin elastics, dark spots and other skin issues.

Market Insights

The main factor driving the worldwide market in esthetic medicine over the forecast period will be development of the surgical as well as non-surgical esthetic processes. Increasing the acceptance of such instruments are the availability of sophisticated aesthetic systems which give efficient, time saving and minimally invasive treatments. Increasing R&D investments will contribute to the development of esthetic drugs sector innovations. The perfect implant, a structured breast implant combining saline implantation and silicone implant advantages has been created by Ideal Implants Inc. for example.

Another beneficial factor in market growth will be increased demand for esthetic processes in the quickly increasing geriatric population. In 2016, approximately 85,000 facelift procedures were performed in US populations over 55 years of age, according to the American Society of Plastic Surgeons report. In addition, increasing obesity incidence in advanced and developing nations will stimulate demand for body contouring processes, accelerating market growth. Strict regulation on the design and production of esthetic equipment could however in the foreseeable future hinder the development of esthetic medicinal products.

Product Outlook

Products, implants, and anti-wrinkle medicines are the product segment of the industry. Due to their affordable cost and elevated customer awareness of product accessibility, anti-wrinkle products represented the biggest market share of more than 45 percent in 2018. Due to their simple accessibility and the immediate and continuous outcomes of these products, the segment is expected to grow further to the largest CAGR 2019 to 2026.

In addition the energy-sourcing equipment segment is divided into esthetic laser, body contouring, microderma and ultrasound equipment. In 2018, aesthetic laser played the biggest role in the industry. High costs for these goods combined with broad fields of implementation such as laser resurfacing, hair removal, etc. have led to this being the biggest income sector in the past. In the microdermabrasion industry, the risk that skin bruises or permanent decolorations will result is anticipated to be relatively slower development.

End Use Outlook

As regards revenues, clinics and beauty centres have resulted the general industry in 2018, and the CAGR is expected to grow further from 2019 to 2026 in a good manner. Some variables that contribute to the development of the segment include higher cost of professional tools, rigorous legislative rules for their use and the need for qualified experts.

Invasive procedures in clinics and beauty centers are usually conducted. Surgical costs are greater than non-surgical processes as they include (in some instances) hospital stay, qualified experts and expensive instruments. In 2017, 10.766.848 operations and 12.623.694 non-surgic processes were conducted worldwide, according to the global cosmetics study of the International Society of Aesthetic Plastic Surgery (ISAPS).

In this section, the requirements for cosmetic medicine are the greatest because of a big amount of surgical procedures in specialist hospitals. In addition, products used in hospitals are more expensive than those used at home. As a consequence, during the forecast period, the section of clinics and beauty centers should demonstrate important development.

Regional Stance

In 2018, Asia Pacific represented over 35 percent of the biggest market share. Due to the increased amount of processes conducted each year, it is expected to keep its dominance during the prediction years. Furthermore, the lower cost of therapy and the accessibility of sophisticated methods and experts in the area attract clients.

The increasing population and the increasing disposable revenue and workforce in the region, particularly in China and India, are also creating demand for esthetic processes. The highest CAGR of 2019 to 2026 is thus anticipated to be 11.5 percent in Asia Pacific.

Market Segmentation

Global Aesthetic Medicine Market, By Product

• Implants
• Anti-wrinkle Products
  
  • Dermal Fillers
  • Botulinum Toxin
  • Chemical Peel
• Energy-based Devices
  
  • Aesthetic Laser Devices
  • Microdermabrasion Devices
  • Ultrasound Devices
  • Body Contouring Devices

Global Aesthetic Medicine Market, By End Use

• Home Use
• Clinics and Beauty Centers

Global Aesthetic Medicine Market, by Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)

The market research study on “Aesthetic Medicine Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Aesthetic Medicine market segments with market dynamics and their impact. The report also covers basic technology development policies.

This study offers a forecast of worldwide, regional and national revenues and volume development, and an assessment of the most recent sector trends from 2014 to 2026 for each sub-section. In the context of this research, on the grounds of product, final use and region, ARC divided the worldwide esthetic medicine market report:

Key Players & Strategies

Many regional businesses competing with worldwide producers are extremely fragmented on the world market. Strict regulatory approval method, however, challenges the market introduction of fresh products. The most important firms on the market include Alma Laser, Allergan, Inc., Johnson and Johnson, Lumenis; Cynosure, Solta Medtical, Inc. and Syneron Medical Ltd. Cynosure and other businesses.

Most main players within the sector adopt major approaches to enhance product portfolios and retain their positions on the market, including fresh product launch, acquisitions, fusion and alliances. In August 2016, for example, Merz purchased the medical esthetics business On Light Sciences to develop techniques for improving the dermatology of lasers, in order to reinforce its product portfolio.

Compared to traditional plastic surgery, the esthetic medicine sector is comparatively new. In latest years, the sector has flourished and will demonstrate substantial development in its forecast years. The esthetic medicine sector is extremely fragmented and numerous players from all over the world are present. Companies are, however, concentrating mainly on acquisition, fusion and collaboration with a view to diversifying their product portfolios and expanding their client base. Valeant International Inc., for example, purchased several local players like Obagi, Solta Medical, Medicis and PreCision Medical by 2014. The creation of new products will also lead to the increase of R&D investment by sector stakeholders. The esthetic medicine sector will see strong development in the coming years with the advent of fresh products.