Facial Aesthetic Products Segment to Dominate North America Medical Aesthetics Market during 2019–2028
According to The Insight Partners market research study on “North America Medical Aesthetics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User,” is expected to reach US$ 5,823.87 million by 2028 from US$ 2,512.24 million in 2021. The market is estimated to grow at a CAGR of 12.8% from 2021 to 2028. The report provides trends prevailing in the North America medical aesthetics market along with the drivers and restraints pertaining to the market growth. Increasing use of dermal fillers and botulinum toxin for enhancing facial aesthetics is the major factor driving the growth of the North America medical aesthetics market. However, clinical risks and complications associated with procedures may hinder the growth of North America medical aesthetics market.
In the US, healthcare professionals and leading organizations are distracting the flow of healthcare resources from research & development to primary care due to an increasing number of COVID-19 patients. This scenario is slowing down the process of innovation. Moreover, the cosmetic surgeons having a unique perspective of working with patients and their teams create difficulties and challenges in the time of distress. Due to the ongoing COVID-19 pandemic, in May 2020, the American Society of Plastic Surgeons (ASPS) released a statement to urge the suspension of elective and nonessential procedures of cosmetic and laser surgeries in the US. The ASPS also stated that the necessary action is likely to result in detrimental financial effect on the aesthetic surgery community. However, the organization is putting in its best efforts to continue the consultations for medical interventions through virtual platforms. The ASPS is encouraging the use of telehealth to arrange the preoperative consults and follow-up appointments of the post-operative patients. In addition, the cosmetic surgery societies are implementing strategies to curb the financial losses and have amended their policies to support small businesses. For instance, Small Business Administration offering expanded disaster impact loans and deferment of the federal income tax payments by three months to July 15.
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 US, Canada, and Mexico. US held the largest share of the market in 2020.
Allergan Plc, Alma Lasers, Cutera Inc, Galderma, Hologic, Inc., Mentor Worldwide, LLC, Sientra, and Solta Medical are among the leading companies in the North America 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 2021, Solta Medical business announced the U.S. launch of the Clear + Brilliant Touch laser, the company's next-generation Clear + Brilliant laser. The Clear + Brilliant Touch laser delivers a customized and more comprehensive treatment protocol by providing patients of all ages and skin types the benefits of two wavelengths.