(IT-NEWSWIRE.COM, August 04, 2022 ) According to a new market research report titled, “Medical Aesthetics Market by Product (Facial Aesthetics, Body Contouring, Cosmetic Implant, Physician Dispensed Cosmeceuticals, Skin Aesthetic) and End User (Hospitals, Clinics, & Medical Spas, Beauty Centers) - Global Forecast to 2029”, published by Meticulous Research®, the medical aesthetics market is expected to grow at a CAGR of 10.4% from 2022–2029 to reach $29.43 billion by 2029.
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Medical aesthetics focuses on altering cosmetic appearance by treating scars, skin laxity, wrinkles, moles, excess fat, cellulite, unwanted hair, and skin discoloration. The growing preference for choosing minimally invasive and non-invasive cosmetic procedures will increase the demand for medical aesthetic products in the coming years.
Virtual Aesthetic Promotional Activities amid COVID-19
The COVID-19 pandemic halted many aesthetic procedures. Due to strict lockdown, people were not allowed to come out of their homes, and also, importance was given to treating the COVID-19 affected patients and other critical cases. In such a situation, virtual conferences were held so that the people around would be in touch with the developing technologies. The knowledge shared among skilled international professionals and other people helped them gain information regarding the benefits of non-invasive and minimally invasive technologies. Some of these activities are mentioned below:
In December 2020, the MEIDAM 2020 conference was conducted to introduce the latest developments in dermatology & aesthetics medicine and share advanced & innovative techniques & knowledge in dermatology, dermato-surgery & aesthetics medicine.
In November 2020, Johnson & Johnson Services, Inc. (U.S.) arranged an event on ‘EMEA Virtual In-Hospital Training: Innovative Implant Solutions in Aesthetic Breast Surgery.
In September 2020, an international conference, Aesthetic Science 2020, was held in Rome, Italy, which focused on aesthetic science and plastic surgery. The conference had a theme, “Modern Advancements on Aesthetic Medicine and Skin Care.” The meeting included informative discussions on novel surgical and non-surgical aesthetic treatment subjects.
Galderma Laboratories, L.P. (Switzerland) provided aesthetic education by offering new series of digital webinars to support aesthetic customers. In April 2020, the first Galderma Aesthetic Injector Network (GAIN) medical education webinar series started on ‘Facial Assessment: Unlocking personalization.’
Such promotional activities positively impacted the growth of the medical aesthetics market during the COVID-19 pandemic.
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The global medical aesthetics market is segmented based on product (facial aesthetics, body contouring devices, cosmetic implants, physician-dispensed cosmeceuticals, skin lighteners & eyelashes products, skin aesthetic devices, hair removal devices, tattoo removal devices, thread lift products, nail treatment laser devices), end user (hospitals, clinics, and medical spas, beauty centers, home care settings), and geography. The study also evaluates industry competitors and analyzes the regional and country markets.
Based on product type, the facial aesthetics segment is expected to grow at the highest CAGR during the forecast period owing to the increasing geriatric population coupled with the rising demand for aesthetic procedures and rapid growth in the development of technologically advanced products to conduct facial aesthetic treatments are some of the factors driving the growth of this segment.
Based on end user, the hospitals, clinics, and medical spas segment is expected to grow at the highest CAGR during the forecast period. Factors such as the growing number of people undergoing cosmetic procedures, increasing healthcare expenditure on aesthetic procedures, the growing geriatric population, and greater uptake of technologically advanced medical aesthetic devices for effective treatment are driving the growth of this segment.
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Geographically, North America is estimated to dominate the overall medical aesthetics market in 2022, followed by Europe and Asia-Pacific. The increasing demand for minimally invasive and non-invasive cosmetic procedures, high accessibility to advanced treatments, and easy adoption of technologically advanced products are major contributing factors to the regional market's growth. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry during 2019–2022. In recent years, the medical aesthetics market has witnessed several new product launches, expansions, and acquisitions. For instance, in September 2021, El.En. S.p.A. (Italy) launched Er:YAG laser, having high-precision skin ablation and fractional therapy. Also, in September 2020, Cutera, Inc. (U.S.) launched truSculpt ﬂex, which is designed for muscle sculpting. This non-invasive muscle stimulation treatment provides an extra edge to strengthen, ﬁrm, and tone the body.
Some of the key players operating in this market are Anika Therapeutics, Inc. (U.S.), Cutera, Inc. (U.S.), Galderma SA (Switzerland), El.En. S.p.A. (Italy), Merz Pharma GmbH & Co. KGaA (Germany), Cynosure Inc. (U.S.), Mentor Worldwide LLC (U.S.), Allergan plc (Ireland), Alma Lasers (Israel), and Fotona D.O.O (Slovenia), Sientra, Inc. (U.S.), Sinclair Pharma (U.K.), Candela Medical (U.S.), Sciton, Inc. (U.S.), Revance Therapeutics, Inc. (U.S.), and Solta Medical (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/medical-aesthetics-market-5028