Medical Aesthetics Market

Market Leader - Medical Aesthetic Market

The global medical aesthetic market is projected to reach USD 15.9 billion by 2025 from USD 9.4 billion in 2020, at a CAGR of 10.9%. Growth in this market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption of aesthetics procedures among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced and user-friendly products, and the increasing demand for aesthetic treatments among men. On the other hand, market growth is limited to a certain extent by factors such as the clinical risks and complications associated with medical aesthetic procedures and the increasing availability and adoption of alternative beauty and cosmetic products.

The major players operating in the medical aesthetics market are Allergan-AbbVie(US), Alma Lasers, Ltd. (Israel), Anika Therapeutics (US), Cutera, Inc. (US), Cynosure (US), El.En. S.p.A. (Italy), Fotona d.o.o. (Slovenia),  Galderma (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 Baush Health, Inc. (US).

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An analysis of the market developments between 2017 and 2020 has revealed that several growth strategies, such as product launches, product approvals, and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the medical aesthetics market. Product launches and acquisitions were the most widely adopted growth strategies by market players in the last four years.

Allergan-AbbVie (US), held the leading position in the facial aesthetics market in 2019. It has a broad product portfolio and focuses on continuous innovation and the development of new products to sustain its leadership position in the market. Over the last few years, the company enhanced its share in the market by introducing new products and securing approvals for various medical aesthetic products. For example, the company received FDA approval for the Coolsculpting treatment, BOTOX Cosmetic (OnabotulinumtoxinA), JUVÉDERM VOLLURE XC gel filler, and NATRELLE INSPIRA in the last three years. During the same period, the company launched new products, including JUVÉDERM VOLBELLA XC and Juvéderm Volite. A strong focus on product launches enables the company to enhance its product portfolio and cater to the growing needs of patients and surgeons.

Cynosure (US) held the leading position in the global medical aesthetics market for energy & light-based devices in 2019. It is one of the prominent manufacturers of laser-based medical aesthetic devices. In 2017, Hologic acquired Cynosure, which helped the company to enter the medical aesthetics market. Cynosure has a strong patent portfolio of 37 US patents, and it markets around 14 light/laser-based systems for medical aesthetic applications. Currently, the company has a presence in over 60 countries through its subsidiaries and distribution network. The company, in December 2019, announced the divesture of the Cynosure Medical Aesthetics business for USD 205 million. Cynosure focuses on strengthening its market position and expanding its product portfolio by focusing on product development. For instance, the company launched the TempSure Vitalia and TempSure Envi system in 2018. Also, the company has secured approvals for its SculpSure and PicoSure systems from regulatory authorities in several countries. These product approvals have helped the company to market its products across geographies and increase its revenue in the medical aesthetics market.

Related Reports:

Medical Aesthetics Market by Product (Botox, Dermal Filler, Liposuction, Cellulite Reduction, Fat Reduction, Skin Tightening, Breast Implant, Tattoo Removal, Thread Lift), End User (Clinic, Medical Spa, Hospital, Beauty Center) & Region – Global Forecast To 2025

Mr. Aashish Mehra
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Report Code
MD 4793
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