LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the aesthetic market in the US is expected to reach USD 4,403.86 million by 2021, growing at a CAGR of more than 8%.
This research report titled ‘Aesthetic Market in the US’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Aesthetic or cosmetic procedures include all medical procedures that are aimed at improving the physical appearance and satisfaction of the patient. They are conducted using invasive, non-invasive, or minimally invasive methods. These procedures are not only performed by dermatologists and plastic surgeons as doctors of all specialties aim to offer cosmetic services to address their patient’s aesthetic needs and desires. People, at present, are demanding quick and non-invasive procedures with minor downtime and very little risk to avoid any pain, discomfort, or disturbance to their normal routines.
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Technavio’s research analysts categorize the aesthetic market in the US into the following segments by product. They are:
- Facial aesthetics market
- Breast implants market
- Liposuction market
- Tattoo removal market
The top three product segments for the aesthetic market in the US are discussed below:
Facial aesthetics market
The facial aesthetics market in the US has been quite popular due to the high awareness, affordability, and acceptance of the procedures. Botox was the most popular procedure in the facial aesthetic market in the US in 2016 and was very common among celebrities and affluent baby-boomers. It was followed by dermal fillers, chemical peeling, and microdermabrasion.
According to Amber Chourasia, a lead health and wellness research analyst from Technavio, “Vendors are continuously striving to innovate and improve their products and the quality of treatment to keep the market shares intact. Injectors are now provided with customized treatments to gain customers satisfaction and retention. Greater satisfaction rates have resulted in increasing the number of people choosing Botox.”
Breast implants market
In the Americas, the US is the largest contributor to the breast implant market. It is estimated that the Americans spent more than USD 13 billion on combined surgical and nonsurgical procedures in 2016. Surgical procedures accounted for around 58% of the total expenditure on aesthetic cosmetic procedures in 2016 in the Americas, which represents the importance given to aesthetic appearance in the region.
“The market for breast reconstruction is increasing with the rising cases of cancer and mastectomies, which is increasing the demand for breast implants for reconstruction to restore the actual breast shape. This is because of the rising disposable income, which allows more people to undergo breast augmentation surgery, with increased preference for composite breast implants,” says Amber.
Liposuction market
According to the CDC, in 2016, more than one-third of all adults were obese in the US. As a measure of healthy wellbeing, obese and overweight patients undergo liposuction-related surgeries to lose the fat content in the body. More people are willing to spend to reduce body fat, and there is an immense potential for liposuction in the country. The demand for laser liposuction was the largest in the country in 2016, with a market share of over 36%.
The increase in the adoption of laser liposuction owing to its benefits of stimulating the production of collagen and elastin, which result in a tighter and smoother skin and coagulating small blood vessels in the areas of application causing less bruising is one of the major reasons for the growth of this segment. The adoption of laser technologies and the higher acceptance rate among people seeking laser-based liposuction procedures will contribute to the growth of the market in the coming years.
The top vendors highlighted by Technavio’s research analysts in this report are:
- ALLERGAN
- Cynosure
- Galderma
- Merz Pharma
- Sientra
- Valeant Pharmaceuticals
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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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