Medical Aesthetics Market to See 10.8% CAGR to 2020

The global medical aesthetics market is forecast to grow at 10.8% Compound Annual Growth Rate (CAGR) during 2015 to 2020 to be worth $12,581.9 Million by 2020, wherein Asia-Pacific is poised to grow at the highest CAGR of 12.6% in the next five years, according to a report by Life Science Industry Research.

Geographically, North America (comprising the U.S. and Canada) commanded the largest share of 49.0% of the global medical aesthetics market in 2015, followed by Europe. North America will continue to lead in the years to come, owing to rapidly aging and obese population, technological advancements, and growing FDA approvals of devices in the U.S. At the same time, the Asia-Pacific region poised to grow at the highest CAGR of 12.6% in the next five years. Factors such as rising consumer awareness and interest in aesthetic procedures, strong local economies, aggressive marketing by leading U.S. and European companies in Asia, decreasing social taboos, and rising medical tourism are propelling the worldwide growth of medical aesthetics industry.

The growth of the global medical aesthetics market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, aging population, increasing awareness among customers, technological advancements in energy-based devices, rising number of aesthetic procedures, and increasing demand for aesthetic treatments among the male population. However, a stringent safety regulation for aesthetic procedures is a major factor restraining the growth of this market. Growing adoption of home use aesthetic device sand increasing demand for cosmetic treatments in emerging markets are creating opportunities for growth of the medical aesthetics market.

The aesthetic lasers and energy devices segment accounted for the largest share of the global medical aesthetics market in 2015, followed by the facial aesthetics segment. Factors such as the increasing number of aesthetic procedures, high prevalence of overweight and obesity, technological advancements, and rising adoption of minimally invasive and non-invasive cosmetic procedures are stimulating the growth of the aesthetic lasers and energy devices market. The 11 companies profiled in this medical aesthetics market 2015 report include Allergan, Inc. (A Division of Actavis Plc), Solta Medical, Inc. (A Division of Valeant Pharmaceuticals International, Inc.), Syneron Medical Ltd., Photomedex, Inc., Cynosure, Inc., Lumenis Ltd., Johnson and Johnson, Zeltiq Aesthetics, Inc., Merz Aesthetics, Inc. (A Division of Merz Pharma GmbH & Co. KGAA), Galderma S.A. (A Subsidiary of Nestlé S.A.) and Alma Lasers, Ltd. (Acquired By Shanghai Fosun Pharmaceutical (Group) Co., Ltd.).

Currently, the medical aesthetics market is a diversified and competitive market with a large number of players. In 2014, Cynosure Inc., Syneron Medical Ltd., Solta Medical, Inc., ZELTIQ Aesthetics, Inc., Lumenis Ltd., and PhotoMedex, Inc. were the leading companies in the global medical aesthetics laser and energy devices market. Moreover, in 2014, Allergan, Inc., Galderma S.A., and Merz Aesthetics, Inc. were the leading players in the global facial aesthetics market. The breast implants market was dominated by Allergan, Inc. and Mentor Corporation in 2014.New product launches; agreements, partnerships, and alliances, mergers, acquisitions, and joint ventures, awareness and marketing campaigns, and new facility launches are the major strategies adopted by most of the market players to achieve growth in the medical aesthetics market.

The report Medical Aesthetics Market by Products (Liposuction, Cellulite Reduction, Fat Reduction, Skin Tightening, Breast Implants, Botox, Dermal Fillers), Procedures (Cosmetic & Reconstructive), & End-Users (Beauty center and Home) – Global Forecast to 2020 is available by visiting http://bit.ly/1RnoY5f