Aesthetic Medicine Market is expected to exceed the market valuation of more than US$ 19.3 billion in 2027

NOIDA, INDIA, February 1, 2022 /EINPresswire.com/ -- The demand for Aesthetic Medicine is witnessing an uptick on account of rising cosmetic procedure acceptance, majorly among the female population, globally. Over the years the popularity of aesthetic procedures has constantly increased, allowing people to enhance or change certain features of their body. Aestheic medicines can be given by invasive and non-invasive procedures. In 2020, 2.3 million cosmetic surgical procedures were performed, a decline of 14% compared to 2019 in the US. In 2019, there were 2.67 million Cosmetic Surgical Procedures were performed in the US. In 2020, breast augmentation was the top surgical procedure conducted in the US. There were, 193,073 Breast augmentation procedures performed in 2020 in the US alone. The top non-surgical cosmetic procedure in 2020 were botulinum toxin (Botox) followed by hyaluronic acid (dermal fillers).

Covid-19 has changed the face of world economy. In a recent survey published by the American Society of Plastic Surgeons, among 1,000 US women, 11% were more interested in plastic surgery now than before the pandemic. Women who have already gone cosmetic surgery before, the numbers were higher, 35% of them were willing to get a procedure done in 2021. This surge is demand is probably because the surgeons’ offices are closed sine a year or offered only limited services, thus causing a surge in the demand now. For example, during the Covid-19 stay at home order, the number of patients visiting plastic surgeons in Rhode Island decreased by 36%.

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According to UnivDatos Market Insights (UMI)’ research report “Aesthetic Medicine Market Analysis, 2020”, Aesthetic Medicine Market is expected to exceed the market valuation of more than US$ 19.3 billion in 2027 and is expected to grow at a significant CAGR of 10.5% during the forecast period (2021-2027).. A changing societal norms is one of the prominent reason which is driving the market of the Aesthetic Medicine. For Instance: there was a decrease of 14% in the cosmetic surgical procedure performed in the US in 2020, compared to 2.6 million procedure conducted in 2019. Also, there has been a 20.6% increase in breast augmentation procedures in the last 5 years.

Based on the Product, the breast implants segment acquired the major market share and grabbed US$ XX Mn revenue from the Aesthetic Medicine market in 2020. Breast implants are most common among women who get it after mastectomies during breast cancer or for cosmetic reasons. Typically, breast implantation surgeries range from US$ 5,000 to 10,000, and because it is an aesthetic procedure, health insurance does not pay for it.

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Clinics, Hospitals, and Medical Spas Segment to Witness Robust growth
Based on the application type, clinics, hospitals, and medical spas segment grabbed XX% revenue share in 2020. The market size of this segment touched US$ XX million in 2020. Most aesthetic procedures are performed in clinics, hospitals, and medical spas as they are the best advertisers of these treatments. Additionally, they are also the most qualified.

North America to Grab Lion’s Share, and witnessed Explicit Growth
Based on the Region, North America dominated the Aesthetic Medicine market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the rising rising acceptance of aesthetic procedures among people and the societal norm of getting aesthetic prcedures. North America is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Aesthetic Medicine Market Analysis, 2020”.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Aesthetic Medicine Market are Allergan, Galderma Laboratories, Merz Pharmaceuticals, Alma Lasers, Johnson & Johnson, Anika Therapeutics, Lumenis, Cynosure, Cutera, Solta Medical among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry. Some of the instances are:
 In June 2021, Allergan Aesthetics, launched 'See Yourself', a new campaign featuring the stories of real BOTOX Cosmetic patients - people of all shapes, sizes, backgrounds, colors, and origins.
 In May 2021, Lumenis partnered with Western University of Health Sciences College of Optometry to provide cutting-edge laser therapy treatments training to students.
 In July 2020, Anika Therapeutics, Inc. announced U.S. Food and Drug Administration (FDA) clearance and the planned launch of multiple new product innovations that address the needs of orthopedic and sports medicine surgeons and their patients seeking to stay active by overcoming soft tissue damage.

“Aesthetic Medicine Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Aesthetic Medicine providers globally. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:
1. By Procedure Type (Invasive Procedures, Non-Invasive Procedures)
2. By Product (Facial Aesthetic Products, Body Contouring Devices, Breast Implants, Hair Removal Devices, Skin Aesthetic Devices, Others)
3. By End-User (Clinics, Hospitals, and Medical Spas, Beauty Centers, Home Care)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (Allergan, Galderma Laboratories, Merz Pharmaceuticals, Alma Lasers, Johnson & Johnson, Anika Therapeutics, Lumenis, Cynosure, Cutera, Solta Medical, etc.)

Key questions answered in the study:
1. What are the current and future trends of the Aesthetic Medicine industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Aesthetic Medicine industry?
5. What are the customer orientation, purchase behavior, and expectations from the Aesthetic Medicine firms across various regions?

About Us:
UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.

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