LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global medical aesthetics market to grow from USD 9.39 billion in 2015 to USD 13.34 billion by 2020, according to their latest report.
The research study covers the present scenario and growth prospects of the global medical aesthetics market for 2016-2020. Based on product, the market is classified into the following segments: dental implants, breast implants, facial implants, and laser-based medical aesthetics.
Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global medical aesthetics market:
- Importance of medical aesthetics
- Shift from invasive to non-invasive procedures
- High number of private practices in Latin America and APAC
- Rise in cosmetic procedures and treatment options
Importance of medical aesthetics
Medical aesthetics is a clinical subspecialty segment that focuses on improving people's appearance through cosmetic treatments. Research in this field involves the application of minimally invasive procedures to enhance individual's physical appearance. These minimally invasive cosmetic procedures have increased the use of facial rejuvenation products, breast implant procedures, and dental implantation.
Medical aesthetics is a growing trend in developed countries, especially among baby boomers. It has become a part of the regular health treatment among individuals who want a natural and healthy appearance. “Aesthetic clinical treatments are now gaining popularity due to their rapid results in short duration. Research studies estimated that more than medical settings worldwide performed 20 million aesthetic procedures in 2014,” says Barath Palada, a lead analyst at Technavio for general medical devices.
Shift from invasive to non-invasive procedures
Invasive and non-invasive procedures deliver rapid and efficient results with minimal complications, surging their popularity over traditional surgeries. With the advances in technology, people are opting for non-invasive procedures such as anti-aging treatments that include hyaluronic acid-, calcium hydroxylapatite-, and collagen-based facial dermal fillers. Dermal facial fillers such as Perlane, Juvederm, and Restylane are used to treat deep wrinkles in the face. These products offer a more natural, youthful look to a person's face compared to surgical procedures. The popularity of non-invasive breast implantation is also on the rise worldwide, particularly in Brazil, the US, and Venezuela. Medical professionals also use non-invasive procedures to provide rapid and efficient treatments for crow's feet and other facial wrinkles.
High number of private practices in Latin America and APAC
The cosmetic devices industry is not regulated, especially in Latin America and APAC. Brazil, Japan, China, India, and South Korea are among the top 10 countries that have a high number of certified plastic and cosmetic surgeons. Deregulation in this industry allows surgeons to open private clinics and market cosmetic services and solutions. In addition, private hospitals in these countries offer breast augmentation procedures at a much lower cost than other countries, such as the US and the UK. This factor encourages medical tourism and prompts foreign individuals to seek cosmetic implant procedures in these countries.
Rise in cosmetic procedures and treatment options
A number of women and men are undergoing medical aesthetic procedures a youthful appearance. The American Society for Aesthetic Plastic Surgery estimated that medical facilities in the US performed more than 11 million cosmetic surgical and non-surgical procedures in 2013. In 2014, the organization also estimated that more than 10.3 million women and one million men underwent cosmetic procedures, accounting for 90.6% and 9.4% of the overall medical cosmetic procedures, respectively.
“Research on new technologies and the combined use of ultrasound, light technologies, cryolipolysis, and endermology resulted in the treatment for reducing cellulite and fat. Researchers are also focusing on developing techniques for skin procedures for a broad range of skin types and conditions,” says Barath.
Browse Related Reports:
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- Global Dermal Facial Fillers Market 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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