Medical Aesthetics Market | Growing at a CAGR of 10.6%

Medical Aesthetics Market | Growing at a CAGR of 10.6% | Global Forecast to 2023

(IT-NEWSWIRE.COM, September 08, 2019 ) According to the new market research report “Medical Aesthetics Market 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) - Global Forecast to 2023", published by MarketsandMarkets™, 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%.

This market is divided into four major regions, namely, North America (U.S. and Canada), Europe (Germany, France, U.K. and Rest of Europe), Asia-Pacific, and the Rest of the World (RoW). Among these four regions, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period.

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The medical aesthetics market is a diversified and competitive market with a large number of players. The product segments in the medical aesthetics market are dominated by various players, depending on their core competencies. In 2015, Allergan, Inc. dominated the global facial aesthetics and breast implants market. Moreover, in 2015, Syneron Medical Ltd. (Israel), Cynosure Inc. (U.S.), and Solta Medical Inc. (Canada), were the leading players in the energy-based devices market.

Allergan’s (U.S.) leadership position in the global facial and breast aesthetics market can be attributed to its broad product portfolio, strong geographical presence, and a wide customer base in the emerging economies, including Latin America, and Asia Pacific. In March 2015 Allergan, Inc. was acquired by Actavis plc, an Ireland based pharmaceutical company which helped Allergan, Inc. to be a division of a global pharmaceutical leader company and strengthened its distribution network.

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In 2016, North America is expected to account for the largest share of the global medical aesthetics market, followed by Europe. The large share of this market is attributed to high number of aesthetic procedures performed in the region, developed healthcare system and presence of large number of medical aesthetic companies.

In the medical aesthetics market, leading players are adopting the strategies of new product launches; agreements, partnerships, and alliances; acquisitions, new product launches; and geographical expansion to augment their foot print’s in the market. Market players adopted these strategies to expand their product portfolios, enhance their geographic presence, and to increase their market shares.

Allergan, Inc. (Ireland), Cynosure, Inc. (U.S.), Lumenis Ltd. (Israel), Mentor Worldwide LLC (U.S.), PhotoMedex, Inc. (U.S.), Galderma S.A. (Switzerland), Solta Medical, Inc. (U.S), Syneron Medical, Ltd. (Israel), and ZELTIQ Aesthetics, Inc. (U.S.) are some of the key players in the global medical aesthetics market.

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Medical Aesthetics Market | Growing at a CAGR of 10.6% | Global Forecast to 2023