The latest market report published by Credence Research, Inc. “Global Aesthetic Services Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025,” the aesthetic services market was valued at USD 15,756.0 Mn in 2016, and is expected to reach USD 29,343.8 Mn by 2025, expanding at a CAGR of 6.9% from 2017 to 2025.
Browse the full report Aesthetic Services Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025 report at http://www.credenceresearch.com/report/aesthetic-services-market
According to market experts, field of aesthetic surgery is evolving at a significant rate. Many new and innovative surgical advances are expected to assist the market growth; however, the most rapid growth will be achieved by noninvasive procedures. There is a noticeable development observed with availability of wide range of injectable products as well as novel mechanical devices for noninvasive skin tightening and removal of unwanted fat. It has been also observed that the challenge for the practitioner is not only to keep up with incessant introduction of novel products but also to determine, on a scientific basis, which products and devices can best serve patients, both immediately and long term.
The overall segmentation of aesthetic services market comprises of type of services such as body contouring and cellulite treatment, liposuction, abdominoplasty, dermal filler and Botox injection, laser hair removal, microdermabrasion, microneedling, chemical peel, hair transplantation, rhinoplasty, breast augmentation, skin tightening, and others (facelift, laser tattoo removal, laser vein treatments, and light therapies). It was observed that, breast augmentation and liposuction services accounted for the largest market share of 43.2% due to rising demand for body feature enhancement services, increasing sedentary lifestyle is fueling the obese population, and increasing geriatric population equipped high disposable capital. However, non-invasive or minimal invasive services are gaining more popularity and demand in aesthetic services market. The rising demand for dermal and Botox injections and microdermabrasion is expected to drive the overall growth of aesthetic services market in the near future.
In base year 2016, North America accounted for the largest share in terms of revenue due to major factors driving aesthetic services market are high public awareness associated aging signs, high disposable capital owned by baby boomers, highly competitive market with number of service providers, and availability of skilled service providers. According to International Society of Aesthetic Plastic Surgery, in 2015 the country with the highest number of procedures was the United States with 1.4 million surgical and 2.6 million non-surgical procedures. When data of 2015 was compared with 2016 it was observed that cosmetic surgical procedures increased by 4%, compared with minimally invasive cosmetic procedures, which grew by 3%.
Market Competition Assessment:
The aesthetic services market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Human Med AG, Alcon Inc., Biosil Ltd., Cynosure Inc., Genzyme Corporation, Allergen Inc., and Lumentis Ltd. and Others.
Key Market Movements:
- Increasing sedentary lifestyle is fueling the obese population
- Rising demand for minimally invasive aesthetic services
- In developing countries the consumers are still skeptical about some of the products and services being offered but the technical advancements are expected to build trust of customers in the near future
- Technological developments in energy-based devices accompanied with high consumer awareness in expected to assist the market growth