Medical Aesthetics Market to Worth USD 17.07 Billion by 2023

The global medical aesthetics market is projected to reach USD 17.07 billion by 2023 from USD 10.30 billion in 2018, at a CAGR of 10.6 percent. Growth in this market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced & user-friendly products, and the increasing demand for aesthetic treatments among men. On the basis of products, the facial aesthetic products segment is expected to account for the largest share of the medical aesthetics market in 2018. The large share of this segment is attributed to the growing patient demand for facial aesthetic treatments, increasing disposable income and spending capabilities, and the rising geriatric population across the globe.

On the basis of end user, the medical aesthetics market is segmented into clinics, hospitals, and medical spas; beauty centers; and home care. The clinics, hospitals, and medical spas segment is estimated to account for the largest share of the global medical aesthetics market in 2018. This end-user segment is also expected to be fastest-growing end-user segment, owing to the increasing number of clinics and medical spas and the high availability of financial and infrastructural resources with hospitals, including technologically advanced devices, trained staff, and skilled professionals to perform aesthetic procedures.

Geographically, the medical aesthetics market is segmented into North America (the US and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and the Rest of Asia Pacific), and the Rest of the World (Latin America, the Middle East, and Africa). North America is expected to account for the largest share of the global medical aesthetics market in 2018. The large share of this region in the global market can be attributed to the growing procedural volume for aesthetic procedures and the high adoption rate of novel technologies in this region.

The major players operating in the medical aesthetics market are Allergan, plc (Ireland), Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), Cynosure (US), El.En. S.p.A. (Italy), Fotona d.o.o. (Slovenia), Nestlé S.A. (Switzerland), Johnson & Johnson (US), Merz Pharma GmbH & Co. KGaA (Germany), Medytox, Inc. (South Korea), Sientra, Inc. (US), Sinclair Pharma plc (UK), Syneron Medical, Ltd. (US), and Valeant Pharmaceuticals International, Inc. (US). – MarketsandMarkets