The growth is driven by the technological innovations in the industry and perceived health benefits of aesthetic products. Additionally, the shifting focus toward non-surgical treatments from surgical procedures, surging population of the elderly, and rising awareness among consumers about the numerous aesthetic treatments available are facilitating the market growth.
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Medical aesthetic treatments offer multiple health benefits and an improved physical appearance, which eventually uplift the self-esteem, thus, leading to a better mood. For instance, Botox treatment helps patients in dealing with migraines and excessive sweating. The sweat glands are paralyzed as soon as Botox is injected into the armpits, thus leading to reduced sweat release. Likewise, dermal fillers are used to fill wrinkle lines on the face with a solution created from hyaluronic acid. These fillers are also used to repair the skin that has been damaged by accident wounds or scars.
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The product segment of the medical aesthetics market is categorized into injectables, topicals, energy-based aesthetics, and breast implants. Among these, the injectables category accounted for the largest share of the market in 2016 due to the high sales of botulinum toxin. Additionally, the topicals category demonstrated the highest growth rate during the historical period (2013–2016). This can be ascribed to the ability of topical creams and lotions to treat various skin conditions without the requirement for uncomfortable procedures.
Globally, the North American medical aesthetics market is generating the highest revenue, as the region is home to the majority of the established players that offer multiple innovations in aesthetic procedures. In recent years, the U.S. has been the largest contributor to the regional market growth. Further, the developing nations of the Asia-Pacific (APAC) region, especially India and China, are expected to grow substantially in the future. Due to this factor, APAC will emerge as the second-largest market by 2020