The global non-invasive aesthetic treatment market is thriving at a remarkable pace as light rejuvenation treatment has been making rounds worldwide recently. The report will closely assess the key market segments, growth drivers, and potentially strong regional pockets.
Market Analysis in Brief
Multiple benefits such as minimal to no discomfort or pain, minimal downtime, no hospital stay, no incisions or scars, less cost, and minimal risk of complications have uplifted the demand for non-invasive aesthetic treatment. In this backdrop, the shift towards minimally and non-invasive medical procedures is expected to bode well for the non-invasive aesthetic treatment market.
This study intends to analyse diverse aspects of the market. The insights offered in this report are expected to aid in market growth examination over the forecast timeline. In 2022, the market reflected modest growth and per industry figures, it stood at around US$60 Bn in terms of value. According to the preliminary study carried out by Fairfield Market Research, the market will maintain an impressive, double-digit CAGR during the next seven years.
Key Report Findings:
Growth Drivers
Mass Shift Toward Minimally Invasive, and Non-Invasive Procedures
Growing demand for minimally and non-invasive procedures has significantly transformed the cosmetic industry. Cosmetic surgeries have gradually started to shed traditional methods since recent years as aesthetics continues to prevail as a vital aspect in daily life. Medical aesthetics has been an emerging trend where practitioners are focusing on adopting minimally and non-invasive treatment methods to treat individuals in different age frames.
As an effort to minimise the effects of normal ageing, adults and elderly are opting for low post-surgery trauma cosmetic procedures. Once considered to be highly complex and inherently invasive, cosmetic procedures are now undergoing huge transformation. This is likely to uphold the growth prospects of the non-invasive aesthetic treatment market.
With rapid advances in the medical domain, the demand for non-invasive aesthetic treatments has grown significantly since the recent past. Although surgical procedures were historically prevailing, the minimally and non-invasive aesthetic treatments have steadily gained traction as the most sought-after cosmetic treatment. Various advantages of these non-invasive treatments have propelled their demand since the past decade.
Popularity of Photorejuvenation
Increasing prevalence of skin diseases has been influencing the need for light rejuvenation. This factor continues to influence the growth of the non-invasive aesthetic treatment market. Backed by patient awareness apropos to benefits of non-invasive procedures such as fewer or no side effects, the adoption of light rejuvenation devices has increased significantly. This has further fuelled the popularity of photorejuvenation that uses intense pulsed light in treating skin conditions and remove wrinkles, textures, and spots.
Furthermore, photorejuvenation is highly cost-efficient as compared to other procedures including plastic surgeries. In addition, it has no negative impact on skin and allows the skin to heal itself by inducing controlled wounds depending on the skin condition. This has spurred the demand for photorejuvenation as an effective treatment against sun damage, wrinkles, and brown spots among others, while improving overall skin tone. That said, rising popularity of photorejuvenation is poised to augment the growth of the non-invasive aesthetic treatment market on the global front.
Overview of Key Segments
Injectables Will be the Major Revenue Contributors
Injectables have been gaining traction in the medical aesthetics space since the past few years. This can be attributed towards functional features of injectables such as convenience in usage and faster treatment with less downtime. Other factors such as increasing research and development in the injectables space resulting in new product developments and solutions continue to contribute towards the growth of the non-invasive aesthetic treatment market.
Growth Opportunities Across Regions
North America Expected to Take Lead, Asia Pacific to Follow Suit
Geographically, North America is expected to account for a significant revenue share in the non-invasive aesthetic treatment market. Developed nations in the region have been showcasing high demand for beauty improving procedures. This has led to an increase in cosmetic surgeries and procedures. For instance, according to Cleveland Clinic, practitioners of cosmetic surgeries perform more than 15 million cosmetic procedures in the United States alone each year. Of these, approximately 13 million procedures are non-invasive and minimally invasive.
Also, according to International Society of Aesthetic Plastic Surgery, the United States was one of the top 10 countries with regards to number of cosmetic surgeries, bot minimal and non-invasive. In addition, apart from women, aesthetic treatments are also being adopted by men population as well as the old populace. Population in developed countries has been cautious regarding self-aesthetics, which in turn has boosted the growth of the non-invasive aesthetic treatment market. Furthermore, willingness to spend on aesthetic treatment backed by rising GDP per capita along with other factors such as stable economic growth and presence of major players in the aesthetics space have bolstered the growth of the market in North America.
Likewise, Asia Pacific is poised to reflect high growth potential in the market. Emerging economies in Asia Pacific including India, Japan, China, Australia, and South Korea have prevailed as strong candidates in the cosmetics sector. The key factor influencing the growth of the cosmetic industry is rising expenditure on personal hygiene coupled with growth of the eCommerce sector. This has largely influenced the non-invasive aesthetic treatment market as people intend to carry out minimally invasive procedures to resolve their cosmetic challenges.
Furthermore, a large customer pool owing to increasing population rate across emerging economies remains a strong factor fuelling the growth of the market in the region. That said, Asian countries are projected to emerge as a lucrative hub for non-invasive aesthetic treatment solutions.
Non-Invasive Aesthetic Treatment Market: Competitive Landscape
Few of the major players in the non-invasive aesthetic treatment market include Alma Lasers, AbbVie Inc., Johnson and Johnson, Galderma SA, Bauch Health Companies Inc., Allergan Inc., Cutera Inc., Syneron Candella, Lumenis, Hologic Inc., Revance Therapeutics Inc., Solta Medical, and Merz Pharma.
Regional Classification of the Global Non-Invasive Aesthetic Treatment Market is Described Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
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