Global aesthetics market predicted to grow to $13.29bn by 2021
The global aesthetics market is estimated to grow at a CAGR of 10.8% from now until 2021, reaching $13.29bn, according to research by Markets and Markets.
Key factors behind the predicted growth include the popularity of aesthetic treatments, especially among men, and the growing adoption of minimally invasive and non-invasive aesthetic procedures, as well as the ageing population and technological advancements in energy-based aesthetics devices, the report found.
Asia-Pacific and Latin America are the areas representing most growth due to the growing medical tourism, rising middle class with disposable income, and growing awareness about aesthetic specialities.
However, stringent safety regulations and the social stigma associated with these treatments are also some of the restraints reported to be hampering the growth of the market.
Researchers also discovered that the product segment of the medical aesthetics market is dominated by key players. Syneron Medical, Cynosure and Solta Medical were named the top three companies in the global energy-based devices market in 2015, while Allergan, Galderma and Merz Aesthetics were named the leading players in the global facial aesthetics market for the same year.
To read the full “Medical Aesthetics Market by Product (Liposuction, Cellulite & Fat Reduction, Skin Tightening, Breast Implants, Botox, Dermal Fillers, Tattoo Removal, Thread Lift, Laser Hair Removal), End-User (Clinics & Medical Spas, Beauty Center) – Forecast to 2021” report, click here.
The report categorises the global medical aesthetics market into the following segments: product, region and end user, as well as looking at product analysis, customisation and geographic analysis.
A combination of bottom-up and top-down approaches were used to calculate the market sizes and growth rates of the market and its sub segments.