Facial Aesthetic Products Segment to Dominate MEA Medical Aesthetics Market during 2019–2028
According to The Insight Partners market research study on “MEA Medical Aesthetics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User,” is expected to reach US$ 1,295.62 million by 2028 from US$ 656.04 million in 2021. The market is estimated to grow at a CAGR of 10.2% from 2021 to 2028. The report provides trends prevailing in the MEA medical aesthetics market along with the drivers and restraints pertaining to the market growth. Growing use of dermal fillers and botulinum toxin for enhancing facial aesthetics is the major factor driving the growth of the MEA medical aesthetics market. However, clinical risks and complications associated with procedures may hinder the growth of MEA medical aesthetics market.
The COVID-18 pandemic has had a significant impact on the Middle East and Africa. The increasing number of COVID-19 cases have been reported in South Africa (2,553,466), Israel (900,482), the UAE (692,964), and Saudi Arabia (533,516) as of August 9th, 2021. The pandemic has increased the demand for medical devices, which can use in home care. The region is witnessing an increase in the number of patients being admitted to intensive care units (ICU), the rising number of drugs that pose multiple diagnostic and therapeutic challenges to strained health systems, leading to an increase in medical devices. Radiologists in South Africa have the highest number of COVID-19 infections in the country. There were changes in staff assignments and working hours and the implementation of strict infection protection and social distancing measures. In addition, they faced mental, physical, emotional, and financial challenges. In the Middle East and Africa, digital technology in healthcare is still in its infancy. In this region, the UAE has the highest level of technology adoption in the healthcare industry. Many doctors and medical experts from different countries have moved to the region to provide better medical care to patients. The rapid spread of the novel coronavirus has resulted in a significant decrease in the number of elective procedures, particularly cosmetic procedures. Although many measures have been taken to ease the burden on the health system, it is unclear whether these changes impacted the perception of cosmetic interventions in the population. Due to the suspension of all non-urgent surgical cases across the region, many doctors' practices are negatively affected by the COVID-19 pandemic, especially of plastic surgeons, aesthetic/aesthetic-plastic surgeons, as most of their cases are semi-elective and elective. In the field of plastic surgery, several articles have summarized plastic surgery practices during the COVID-19 pandemic and made recommendations on preoperative care and case prioritization based on current evidence, such as low visual acuity, moderate visual acuity, and high visual acuity while assessing the risk and benefit every surgical procedure. The current pandemic poses a major threat to all medical specialties, especially those who primarily perform elective surgery. This creates the need to define security protocols that will help hedge the risk of pandemics. The market growth for the hair removal segment is driven by the increasing use of Intense Pulsed Light (IPL) instruments. Cosmetic and aesthetic device manufacturers have had to close production and delivery units due to the lockdown imposed at the beginning of the COVID-19 outbreak. Thus, the growing demand for laser hair removal treatments and their precise hair removal techniques is contributing to the growth of the market. On the flip side, the market for the skin rejuvenation segment is expected to register the highest CAGR during the forecast period as different companies have a wider range of laser skin rejuvenation systems. Additionally, the elderly take this therapy to a significant extent due to their wish for younger-looking appearance. It is estimated that the growth of this market will increase due to key factors such as the high growth in aesthetic medical laser systems and increasing government initiatives related to aesthetic procedures. However, the rising prices for aesthetic-medical laser procedures hinder the market growth. Devices such as excimer lamps and skin tightening devices also have probes that come in close contact with the skin, and the risk of transmitting the SARS-CoV2 virus is high. Therefore, the COVID-19 pandemic has had a major impact on the medical aesthetics market. However, the situation is gradually improving.
The market for medical aesthetics is segmented into product, application, end user, and country. Based on product market is segmented into facial aesthetic products, body contouring devices, cosmetic implants, skin aesthetic devices, hair removal devices, tattoo removal devices and others. In 2020, the facial aesthetic products segment held the largest share of the market, by product. Based on facial aesthetic products type market is segmented into dermal fillers, botulinum toxin, and microdermabrasion devices. Based on cosmetic implants type market is segmented into breast implants, facial implants, and others. Based on body contouring devices market is segmented into liposuction devices, nonsurgical fat reduction devices, and cellulite reduction devices. Based on skin aesthetic devices market is segmented into laser skin resurfacing devices, light therapy devices, nonsurgical skin tightening devices, and micro-needling products. Based on the application market was segmented into facial and body contouring, facial and skin rejuvenation, breast augmentation, hair removal, reconstructive surgery, tattoo removal and others. In 2020, the facial and body contouring segment held the largest share of the market, by application. Based on the end user market was segmented into hospitals, dermatology clinics, medical spas and beauty centers and home care. In 2020, the hospitals segment held the largest share of the market, by end user. Based on country, the market is segmented into the Saudi Arabia, UAE, South Africa, and rest of MEA. Rest of MEA held the largest share of the market in 2020.
Allergan Plc, Alma Lasers, Galderma, Hologic, Inc., and Mentor Worldwide, LLC are among the leading companies in the MEA medical aesthetics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Hologic, Inc. announced that they had entered into a definitive agreement to sell its Cynosure medical aesthetics business in a deal worth more than $200 million.