The latest market research report “Medical Aesthetics 2017 Global Market Driver, Challenges, Trends & Forecast to 2020”published by WiseGuyReports.Com Publish is definitely an eye opener for the medical aesthetics business and elaborates on the industry environment come 2020.
An interesting report that raises some curious points, it is run by market research analysts conducting an in-depth study of the industry and trends. Here are a few interesting points that can be drawn from the final report:
Experts predict that the global medical aesthetics market is will grow at a fast rate at a CAGR of about 7% by 2020, with certain factors fuelling this growth.
- The first is the ageing population who is more aware of the cosmetic and plastic surgery business and desiring opportunities to look younger and fitter.
- The second is the growth in income levels which has directly resulted in higher disposable incomes. Thus, people can and are more willing to splurge on plastic surgeries and beauty treatments.
- The third and arguably the most important is the advance of technologies and innovations within the medical aesthetics industry. This is easily demonstrated with laser and ultrasound-based equipment, which is predicted to take the industry to greater heights during the reviewed timeframe. This technology is found in a range of devices, including IPL machines, Microdermabrasion machines, high intensity focussed ultrasound, Transdermal Focused ultrasound, fat reduction methods and others techniques that facilitate skin rejuvenation and permanent hair removal treatments. These devices have changed the medical aesthetics playing field, primarily because the procedures are non-invasive in nature reducing the downtime for patients. This convenience has also increased the number of people wanting treatments to look better, younger and leaner.
The next important part of the report is broken down into 4 product categories within the medical aesthetics sector.
- Laser-based medical aesthetics
- Facial aesthetics
- Breast Implants
- Dental implants
The market segmentation analysis of these 4 reveals an interesting find; that the dental implant section currently at a market share of 34%, is forecast to grow at the fastest rate, far in advance of the other three. This is typically attributed by professionals to the increasing importance being placed on perfect smiles for beauty and the increase in oral complications among the younger beauty-conscious generation.
The Americas beauty treatment market is also slated to grow the most with the report predicting that it will be more than 54% in the period until 2020. As the aesthetic capital of the world, this fact is not surprising and can be placed at the door of the facilities delivering invasive and non-invasive procedures. With the influence of Hollywood, big stars and the increase of beauty treatment tourists, the industry beats the other regions of the world by sheer numbers.
Further, while the market is highly fragmented now with numerous players, there is bound to be a certain degree of consolidation in future with several vendors, such as Allergon, Mentor, Cynosure, Syneron and Straumann, emerging as the key players in the medical aesthetics business by 2020.