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Combination Treatment In Aesthetics Market – Global Trends, and Forecast to 2026
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Increase in number of aging population worldwide, especially in developed economies is expected to drive growth of the combination treatment in aesthetics market. According to the Plastic Surgery Statistics 2017, age group 40 to 54 contributed around 49% of the total cosmetic procedures in the U.S. This accounted to around 7.7 million cosmetic procedures, of which 7.1 million were minimally-invasive procedures. Furthermore, increase in disposable income of population in emerging economies such as China, India, and Brazil is major factor expected to fuel growth of the market.
Combination treatment in aesthetic market in India is expected to witness significant growth due to medical tourism prospects in the country from cost competitiveness and skilled human resource in medical and cosmetic procedure sector. For instance, according to a data given by Ministry of External Affairs Of India, India issued over 0.17 million medical visas in 2016, compared to 0.12 million in 2015. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report, in 2016, the top five countries – the U.S., Brazil, Japan, Italy, and Mexico – accounted for around 41.4% of the cosmetic procedures worldwide, followed by Russia, India, Turkey, Germany, and France.
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Key players are launching innovative products in the market to expand their market share. These new products provide wide variety of device choices to physician that avail different combinations of minimum invasive devices with other modalities and efficient performance for various cosmetic treatments. For instance, In January 2018, Cutera, Inc. launched Juliet and Secret RF to its product offerings of laser and energy-based device. In the same year, Galderma S.A. was granted FDA approval for its next-generation hyaluronic acid (HA) dermal fillers – Restylane Refyne and Restylane Defyne – for the treatment of moderate to severe facial wrinkles and folds.
Market players are acquiring companies that could complement and add to product portfolio and expand geographical presence. In March 2017, Hologic, Inc. acquired Cynosure, Inc. —developer, manufacturer and supplier of a broad array of light-based aesthetic and medical treatment systems. In August 2018, Nestlé Skin Health – parent company for Galderma— announced acquisition of several key aesthetic dermatology products from Valeant Pharmaceuticals International, to commercialize in the U.S and Canada. Product acquired include, Restylane, Perlane and Emervel used for corrective facial aesthetic treatments, and Dysport, and Sculptra used in aesthetic dermatology treatment.
Combination treatment in aesthetic market is expected to witness positive growth over the forecast period, owing to increasing preference for skin-related minimally-invasive therapies around the world. According to the report by International Society of Aesthetic Plastic Surgery titled Global Aesthetic Survey Results, 2017, around 14% increase in skin rejuvenation procedures was reported worldwide in 2016. According to same source, around 2,545,922 facial rejuvenation surgeries were conducted worldwide in 2016. According to the American Society for Aesthetic Plastic Surgery’s national data bank, the U.S. spent US$ 2,332,965,407 on skin rejuvenation procedures, in 2015.
Furthermore, high prevalence of skin-related disorders and increase geriatric population is expected to propel demand for the combination treatment in aesthetic market. According to a study published in the British Journal of Dermatology, in 2015, around 9.4% of the global population was estimated to be affected by acne. Furthermore, Photon-based therapy and lased-based therapy are emerging as new trend in acne scars treatment, which is expected to contribute to the market growth over the forecast period.
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In April 2018, Merz GmbH launched its hyaluronic acid-based dermal filler product— Belotero Lips— for lip enhancement and treatment of perioral lines.
Key players operating in the combination treatments in aesthetics market include, Syneron Medical Ltd., Allegern, Inc., Hologic, Inc., Cynosure, Inc., Merz GmbH and KGaA, Bausch Health Companies, Galderma S.A., Cutera Inc., Alma Lasers, Ltd., Lutronic Corporation, Lumenis Ltd., Cutera, Inc., Strata Skin Sciences, Inc., BISON MEDICAL, Solta Medical Inc., Lynton Lasers Ltd. and Sciton, Inc.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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