The Global Aesthetic Devices Market is Forecast to Reach $3.5 Billion in 2017
Online PR News – 25-February-2011 – – The global market for medical aesthetic devices is forecast to reach $3.5 billion in 2017 at a CAGR of 7%. 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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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.
Allergan and Mentor lead the medical aesthetic devices market with a combined market share of 40%. While Mentor dominated the market for breast implants and has significant presence in facial aesthetics, Allergan has significant market share in both breast implants and facial aesthetics. Mergers and acquisitions are expected to consolidate the market in the future leading to aesthetic procedures becoming more affordable.
GBI Research’s report, “Aesthetic Devices Market to 2017 - Future Growth to be Driven by Improving Treatment Outcomes and Increase in Consumer Confidence” provides key data, information and analysis on the global aesthetic Devices market. The report provides market landscape, competitive landscape and market trends information on three aesthetic devices market categories – aesthetic lasers and energy devices, breast implants and facial aesthetic devices. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape with major acquisitions and mergers in the last three years and a detailed analysis of the pipeline products in each category. 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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