During our research, we identified over 200 medical aesthetic companies offering various medical aesthetic products and / or devices.
The global medical aesthetics market size is estimated to grow from USD 38 billion in 2024 to USD 102 billion by 2035, representing a CAGR of 9.5% during the forecast period till 2035.
Maximum number of companies are engaged in offering facial aesthetic products and / or devices. These products and devices are widely used for treating various skin abnormalities, such as scars, laxity, wrinkles, moles, pigmentation, and liver spots (age spots). This is followed by companies offering body contouring devices that can help in redefining, recreating and reshaping the body. Additionally, 38% of the players are providing various laser hair removal and IPL hair removal machines that can provide painless and long-lasting results compared to traditional hair removal approaches, such as shaving, threading, and waxing. This is followed by 24% and 15% of firms which are offering tattoo removal and nail treatment devices, respectively. Further, 14% of companies are providing breast augementation solutions, including breast aesthetic devices and breast implants.
Majority of the companies are providing facial aesthetic devices. It is worth highlighting that these facial aesthetic devices are non invasive in nature and don’t involve any surgery, making them cost-effective as well. Examples of firms offering facial aesthetic devices include (in alphabetical order) Cynosure, InMode and Lutronic. In addition, 62 players are engaged in offering dermal fillers, which are extensively used for eliminating wrinkles, smoothening facial lines and volumizing the face. Moreover, the treatment can be done in even less than 30 minutes with minimal recovery time. This is followed by 25% of the firms that are manufacturing microneedling devices that can help in boosting collagen production to achieve firm, smooth, and even tone skin.
It is interesting to note that maximum number of medical aesthetic companies were established during the time period, 2001-2020. This is indicative of the continuous emergence of players into the medical aesthetics market over the past decades, reflecting a stable and enticing industry landscape.
Company Competitiveness Analysis – Evaluating the overall potential of Medical Aesthetic Companies
This chapter provides a detailed competitiveness analysis of various medical aesthetic companies identified during our research, which are based in North America, Europe, Asia-Pacific, and the Rest of the World. The companies considered in this analysis were scored based on several relevant parameters, such as company strength of the company offering different products and devices (in terms of number of years of experience of a company), and the portfolio strength (in terms of type of offering, type of product and / or device offered and type of procedure). Insights obtained from the analysis have been presented in the form of three-dimensional bubble charts, with company strength on the x-axis, portfolio strength on the y-axis and number of end user served is indicated by the size of the bubble (z-axis).
The growth in partnership activity in recent years reflects the rising interest in this sector. During our research, we came across several partnerships and collaborations that have been established between several stakeholders engaged in the field of medical aesthetics, during the time period 2018-2023.
As can be observed in the figure, the trend of partnerships in this domain has remained consistent between 2020 and 2022. However, it is interesting to note that partnerships have increased at a CAGR of 14%, during the period, 2018-2022. The increase was mainly attributed to the increased consciousness amongst people regarding their cosmetic appearance during the COVID-19 pandemic. It is noteworthy that the majority of agreements signed in 2022 were focused on the distribution of various medical aesthetic products and devices, across the globe. Additionally, in 2023 (till August) a total of seven agreements were signed between the stakeholders, including acquisitions / mergers, supply and product / technology integration, and supply agreements.
Players based in Asia-Pacific and rest of the world have signed the maximum number of collaborations (35.9%), of which 20.5% are intracontinental agreements and 15.4% are intercontinental agreements. In North America, majority of the deals were inked with the intracontinental players; of which players based in the US, emerged as the most active players having inked most of the deals. Further, players in Europe account for approximately 31% of the total medical aesthetic solution providers.
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