(PharmaNewsWire.Com, September 04, 2020 ) The global medical aesthetics market is expected to witness robust growth during the forecast period. Growth in this market is mainly driven by the growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced & 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.
What will be the value of the Medical Aesthetics Market during the forecast period?
According to MarketsandMarkets, [225 Pages Report] 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%.
The growing adoption of minimally invasive and noninvasive aesthetic procedures, rising adoption among geriatric individuals, increasing public awareness about cosmetic procedures, the availability of technologically advanced & user-friendly products, and the increasing demand for aesthetic treatments among men are the key factors driving the growth of this market. 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.
Driver: Growing adoption of minimally invasive and noninvasive aesthetic procedures
In the past decade, there has been a significant increase in the preference for minimally invasive and noninvasive aesthetic procedures over traditional surgical procedures. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, such as less pain, reduced scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures.
Globally, 13,209,539 nonsurgical aesthetic procedures were performed in 2016 as compared to 12,055,418 procedures in 2015. This represented a growth of 10% during 2015–2016 (Source: ISAPS). According to the American Society for Aesthetic Plastic Surgery (ASAPS), in the US, the number of nonsurgical aesthetic procedures performed increased by 7.3% during 2015–2016. In 2016, 55.9% of all aesthetic procedures performed worldwide were estimated to be nonsurgical procedures while surgical procedures accounted for 44.1% of the total aesthetic procedures (Source: ISAPS).
Restraint: Clinical risks and complications associated with medical aesthetic procedures
In the past two decades, medical aesthetic procedures have become increasingly popular. The market has witnessed significant growth in the demand for aesthetic treatments owing to the rise in the number of doctors and surgeons providing safe and effective medical aesthetic treatments and the launch of technologically advanced products for the same.
However, medical aesthetic procedures are associated with various possible side-effects. Patients undergoing aesthetic treatments may face several risks and complications after or during the procedure, some of which are listed below:
Hematoma or seroma: This complication is common in breast implant and cosmetic implant surgeries. A hematoma or seroma is a large painful blood clot near/under the site of surgery. Nerve damage: Nerve damage results in numbness and a tingling sensation and, in extreme cases, may also result in paralysis. Other issues related to aesthetic treatments include anesthesia-related complications, organ damage, and infections, among others. These problems are expected to hamper adoption of medical aesthetic treatments, which in turn, is likely to restrain market growth.
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