The most recent study conducted by Report Ocean, titled “Global Aesthetic Medicine Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Aesthetic Medicine. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Aesthetic Medicine Market is valued approximately at USD 12.02 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.25 % over the forecast period 2021-2027. Aesthetic medicine is a drug used to treat scars, wrinkles, unwanted fat and others that help patient to improve facial aesthetic by invasive or non-invasive surgeries. Increasing of awareness about aesthetic surgeries and increasing investments for research is the driving factor for the market. Also, regular advancement and continuous development in products are the factors which will anticipate the growth of market in forecasted period.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For instance: As per the American Society for Aesthetic Plastic Surgery, in 2020, about 185,957 breast augmentation surgeries were performed worldwide. Increasing acceptance of breast augmentation procedures among females of 22-40 years of age will foster the demand for breast aesthetics thereby driving the industry revenue. However, high cost of aesthetic treatment and stringent policies which unfavorable for patient due to high risk may impede market growth over the forecast period of 2021-2027.
Global Aesthetic Medicine market analysis on basis of region which includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the significant region across the world in terms of market share due to continuous advancement in medical infrastructure and availability of skilled and professionals in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due increasing disposable income of people in the region.
Major market player included in this report are:
Cynosure, Inc.
Johnson & Johnson Services, Inc.
Galderma Laboratories
Alma Lasers
ALLERGAN, Inc.
Solta Medical
Lumenis
CANDELA CORPORATION.
Dentsply Sirona.
Merz Pharma
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Procedure Type:
Invasive Procedures
Non-invasive Procedures
By Product Type:
Energy-Based Devices
Implants
Anti-Wrinkle Products
By Application:
Surgical
Non-Surgical
By End-User:
Medical Spas & Beauty Centers
Hospitals & Clinics
Home Use
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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