Global Medical Aesthetic Devices Market is Forecast to Reach $3.5 billion by 2016
Online PR News – 16-February-2011 – – The global market for medical aesthetic devices is forecast to reach $3.5 billion in 2016 at a CAGR of 10%. The growth is primarily driven by factors such as competition between the non-core and core physicians that have reduced the overall cost of the aesthetic procedures and the inception of minimally invasive and non-invasive aesthetic procedures. The significant growth of medical aesthetic devices in 2010 is led by the recovery of some of the developed economies after the slowdown experienced in 2009 due to the recession. The market is on an upward trend, due to an increasing desire to look youthful. Lack of reimbursements for aesthetic devices is perceived as a major drawback as this can have a significant effect on the overall growth.
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The US contribution towards the global medical aesthetic devices market was valued at 60% in 2009. The US medical aesthetic devices market is forecast to reach $2.1 billion in 2016 with a CAGR of 10%. The market is expected to be driven by the popularity of hyaluronic acid based dermal fillers, hair removal, skin tightening, skin rejuvenation and silicone breast implant procedures. Home aesthetics is expected to take a major share of the aesthetic laser segment due to their cost effectiveness and its flexibility. The market is also expected to be driven by an increasing number of providers and companies’ direct-to-consumer approach. The US market for medical aesthetic devices will continue to dominate the global market thanks to the current trends and the pipeline products. Usage of excess fat for natural breast enhancement is expected to grow significantly in the US, behind silicone breast. Non-invasive dermal fillers such as hyaluronic acid formulated with anaesthetic lidocaine are being predominantly used in the US which will drive the market for facial aesthetics in the US.
In the US, silicone breast implants are forecast to contribute 98% towards the overall breast implants market in 2016, an increase from the current contribution of 85%. The US silicone breast implants market was valued at $316m in 2009 and is forecast to reach $657.6m in 2016 with a CAGR of 11%. Patients prefer silicone breast implants to saline breast implants as silicone implants feel more like natural breasts and are less prone to wrinkles. Trans umbilical breast augmentation will fuel the growth of silicone breast implants in the US. Since this procedure is minimally invasive it is convenient and patients to enjoy good results. This procedure is expected to replace other breast enhancement procedures owing to its advantages such as prevention of scars around the connective tissues of the breast and capability of completing both the breast implants simultaneously.
GBI Research’s new report, “Aesthetic Devices Market to 2016 - Future Growth to be Driven by Improving Treatment Outcomes and Increase in Consumer Confidence” provides key data, information and analysis on the Aesthetics industry and analytical content on the market dynamics. The report provides market landscape, competitive landscape and market trends information on Aesthetics industry. The report provides comprehensive information on the current practices and trends in the Aesthetics industry. The report also reviews the competitive landscape, and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.
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