Medical Aes Market

The global medical aesthetics market is mainly driven by the high demand for liposuction, hair transplantation, and increasing acceptance of facial aesthetics in the aesthetic industry. The growing expenditure on cosmetic surgeries coupled with technological advancements, rising obese and geriatric population, and the prevalence of skin diseases are expected to drive the market growth. High procedural costs, sophistication, and training associated with aesthetic procedures, and side-effects related to cosmetic procedures may slow down the growth of the market during the forecast period. Rising demand for minimally invasive procedures provides an opportunity for the growth of the market.

The growing obese and geriatric population across the globe is leading to an increased demand for aesthetic procedures such as liposuction, hair transplantation, and others. Moreover, the growing demand for beauty treatments and other anti-aging-related cosmetic procedures are accelerating the growth of the global medical aesthetics market. The rising need to appear younger and visible positive effects of these treatments are increasing the popularity of aesthetic procedures across the globe.

In 2016, according to the International Society of Aesthetic Plastic Surgery, an estimated 18,447 liposuction procedures were performed in Taipei, accounting for 1.3% of the total surgical liposuction procedures across the globe. Moreover, it was determined that India stood third in liposuction procedures, representing 5.0% of the total liposuction procedures performed in the world. According to the American Society for Aesthetic Plastic Surgery, 414,335 liposuction procedures were performed in the US in 2016.

According to the Australian Institute of Health and Welfare from 2014 to 2015, approximately two-thirds, i.e., 63% of the Australian population aged 18 and above were estimated to be overweight or obese, thus increasing the number of individuals with hair fall problem as obesity affects hair fall.

The number of hair restoration patients in Asia was approximately 427,709 in 2014, according to the International Society of Hair Restoration Surgery.

As per the Hair Society, around 40% hair loss rate is estimated in men by the age of 35, which is expected to grow and reach up to 70% in men by the age of 80 years.On the other hand, women of around 60 years of age have a hair loss rate of approximately 80%. Moreover, the Economic and Social Commission for Asia-Pacific estimated that in 2016, about 12.4% of the population within the region was aged 60 or more and is expected to reach 1.3 billion by 2050. This increasing obese population, in turn, is expected to increase the number of patients suffering from hair fall and hence increase the number of hair transplantation procedures.

Furthermore, there is a trend of getting tattoos among people in developing economies such as India, China, and Japan. This increases the probability of tattoo removal procedures, enhancing the growth of the medical aesthetics market in the region. With the high demand for procedures such as liposuction and hair transplantation by the growing obese and geriatric population, the global market for medical aesthetics is estimated to grow substantially during the forecast period.

The demand for minimally invasive procedures is increasing, and non-surgical procedures are being performed in hospital-based outpatient clinics. Moreover, the per capita incomes and healthcare expenditure in economies such as India is rising, which is likely to provide a significant boost to the market growth during the forecast period.

The population in developing economies is focusing on minimally invasive procedures to treat a variety of medical and aesthetic imperfections such as scars, wrinkles, skin discoloration, unwanted spots, excess fat, and spider veins.

According to the International Society of Aesthetic Plastic Surgery in 2016, approximately 43,047 and 15,764 non-surgical procedures for botulinum toxin and hair removal were performed in Australia.

The Asian-Pacific Islander population, according to the American Society of Plastic Surgeons, accounted for approximately 5.0%, in 2016, of all the reported cases of microdermabrasion.

In 2016, the International Society of Aesthetic Plastic Surgery stated that 120,640 non-surgical photo rejuvenation procedures were performed in Japan. Increasing demands for minimally invasive aesthetic procedures are providing growth opportunities, which can be attributed to the expansion of the market.

Despite the growing adoption of aesthetics, the high cost associated with the aesthetics procedure is hampering the growth of the market. The cost of breast augmentation is high. In India, the cost of breast augmentation is estimated to be around USD 1,200 to USD 2,200, depending upon the type of augmentation.

Moreover, within the region, liposuction can cost from USD 550 to USD 2,600. The average estimated cost of laser slimming treatment in Japan is estimated to be in the range of USD 2520 to USD 3025. The presence of middle and low-income countries within the Asia-Pacific and the Middle Eastern and African regions, may not support the growth of the market during the forecast period.