Aesthetic Dermatology Market Size, Share and Growth, Regional Analysis and Forecast – 2027
- OI-36 |
- Published date: Oct, 2018 |
- Biopharmaceuticals |
- Pages
Market Overview, Key in-line Products, Market Share Distribution, Competitive Dynamics, Regulatory Outlook, Pipeline Development, Growth Catalysts & Challenges, Leading Market & R&D Trends, Partnership & Deals Analyses, Global Sales forecast of in-line and pipeline products, Fast Growing Private Companies, Management Perspectives, Commentaries, Market Outlook & Summary Conclusions
Global aesthetic dermatology market was valued at $6.2bn in 2015 and is forecast to grow at a modest 6.4% CAGR between 2015 and 2024, to reach 2024 global sales of $11.5bn.
Aesthetic dermatology is a subspecialty of medicine intended to enhance one’s appearance. The pursuit of physical beauty has become big business in developed markets and fast catching up among affluent and wealthy individuals in emerging markets. People seem to be more conscious of their looks than ever before world over.
The procedures adopted in aesthetic dermatology can split as either invasive or non-invasive. Key procedures relevant to the aesthetic dermatology market are botulinum toxin (non-invasive), dermal fillers (non-invasive), breast augmentation (invasive) and lipoplasty (invasive).
Approximately 6 million aesthetic procedures are conducted annually in the U.S. alone. Korea is ranked first in the world, in terms of the number of plastic surgeons per capita and the proportion of population undergoing cosmetic procedures. China is rising fast in aesthetic procedures driven by growing demand from younger generation. According to the China Association of Plastics and Aesthetics (CAPA), more than 7 million people, mostly young women, had cosmetic surgery in 2014.
Global Aesthetic Dermatology Market – Geographic Sales Distribution
“Large target market in aesthetic dermatology”
The addressable market in aesthetic dermatology is large. For example in China, there are over 330m women aged between 20 and 50. Different age groups have different needs varying from skin rejuvenation and anti-aging, to face contouring. In the U.S, people over the age of 35 accounts for 80% of non-surgical procedures. This group of people gives lot of importance to their appearances and has money to spend on themselves. Moreover, the market entries from a number of Korean and Chinese companies that offer strong price competitiveness have resulted in increased demand. and declining prices of aesthetic procedures.
“Allergan, Valeant, Ipsen, Merz are some of the key players in aesthetic dermatology market"
Allergan’s Botox is the leading franchise in the aesthetic dermatology market. The market for botulinum toxin worldwide is continually expanding with the U.S. market accounting for approximately 60% in sales. Botox competes with Ipsen’s Dysport and Merz’s Xeomin in other countries.
Allergan also has strong presence in the dermal filler space through its acquisition of Inamed in 2005 and gained access to Cosmoderm and Zyderm product lines.
Valeant through acquisition of Medicis is a leader in dermal fillers with its hyaluronic acid (HA) filler product line led by Restylane. HA dermal filler injections have become quite popular due to their convenience and favorable safety profile.
In recent years, J&J has introduced Evolence, the HA-based dermal filler similar to Valeant’s Restylane and Allergan’s Juvederm.
From an international competitive scenario, in recent times, Bloomage and Shanghai Haohai (both listed in HK exchange) have moved into the aestehetic dermatology space by launching HA dermal filler products.
In the Korean market, the growing beauty treatment market is benefiting Medytox, with its well-balanced product portfolio, and LG Life Sciences that offer an edge in Hyaluronic Acid (HA) dermal fillers.
“Reimbursement coverage and Payer Insights”
Since aesthetic dermatology procedures are mostly elective, the market is not reimbursement dependent. While this is a disadvantage in a down economy, companies introducing new products in the segment are able to escape the hassle of securing reimbursement for new products, which are often costly and time-consuming process. Plastic surgeon are more than willing to adopt new products quickly after launch, which is not always the case in other areas of healthcare.
“Favorable outlook of the sector”
The long-term fundamentals of the aesthetic dermatology market look favorable. Companies such as Valeant that have introduced new products focused on the aesthetic marketplace during the past several years have significantly benefited from the favorable dynamics of this unique market. Allergan’s $2.1bn acquisition of Kythera in April 2015 brought in to its fold the game-changing Kybella treatment for double-chin while strengthening its facial aesthetics portfolio.
Body contouring and fat-based procedures continue to be a focus of the industry. Additionally, home therapies and consumer-based initiatives are still a major focus in the aesthetic dermatology space. The next generation products for skin resurfacing, skin tightening, and tattoo removal will continue to advance the industry’s core businesses forward.
Market Overview, Key in-line Products, Market Share Distribution, Competitive Dynamics, Regulatory Outlook, Pipeline Development, Growth Catalysts & Challenges, Leading Market & R&D Trends, Partnership & Deals Analyses, Global Sales forecast of in-line and pipeline products, Fast Growing Private Companies, Management Perspectives, Commentaries, Market Outlook & Summary Conclusions
Global aesthetic dermatology market was valued at $6.2bn in 2015 and is forecast to grow at a modest 6.4% CAGR between 2015 and 2024, to reach 2024 global sales of $11.5bn.
Aesthetic dermatology is a subspecialty of medicine intended to enhance one’s appearance. The pursuit of physical beauty has become big business in developed markets and fast catching up among affluent and wealthy individuals in emerging markets. People seem to be more conscious of their looks than ever before world over.
The procedures adopted in aesthetic dermatology can split as either invasive or non-invasive. Key procedures relevant to the aesthetic dermatology market are botulinum toxin (non-invasive), dermal fillers (non-invasive), breast augmentation (invasive) and lipoplasty (invasive).
Approximately 6 million aesthetic procedures are conducted annually in the U.S. alone. Korea is ranked first in the world, in terms of the number of plastic surgeons per capita and the proportion of population undergoing cosmetic procedures. China is rising fast in aesthetic procedures driven by growing demand from younger generation. According to the China Association of Plastics and Aesthetics (CAPA), more than 7 million people, mostly young women, had cosmetic surgery in 2014.
Global Aesthetic Dermatology Market – Geographic Sales Distribution
“Large target market in aesthetic dermatology”
The addressable market in aesthetic dermatology is large. For example in China, there are over 330m women aged between 20 and 50. Different age groups have different needs varying from skin rejuvenation and anti-aging, to face contouring. In the U.S, people over the age of 35 accounts for 80% of non-surgical procedures. This group of people gives lot of importance to their appearances and has money to spend on themselves. Moreover, the market entries from a number of Korean and Chinese companies that offer strong price competitiveness have resulted in increased demand. and declining prices of aesthetic procedures.
“Allergan, Valeant, Ipsen, Merz are some of the key players in aesthetic dermatology market"
Allergan’s Botox is the leading franchise in the aesthetic dermatology market. The market for botulinum toxin worldwide is continually expanding with the U.S. market accounting for approximately 60% in sales. Botox competes with Ipsen’s Dysport and Merz’s Xeomin in other countries.
Allergan also has strong presence in the dermal filler space through its acquisition of Inamed in 2005 and gained access to Cosmoderm and Zyderm product lines.
Valeant through acquisition of Medicis is a leader in dermal fillers with its hyaluronic acid (HA) filler product line led by Restylane. HA dermal filler injections have become quite popular due to their convenience and favorable safety profile.
In recent years, J&J has introduced Evolence, the HA-based dermal filler similar to Valeant’s Restylane and Allergan’s Juvederm.
From an international competitive scenario, in recent times, Bloomage and Shanghai Haohai (both listed in HK exchange) have moved into the aestehetic dermatology space by launching HA dermal filler products.
In the Korean market, the growing beauty treatment market is benefiting Medytox, with its well-balanced product portfolio, and LG Life Sciences that offer an edge in Hyaluronic Acid (HA) dermal fillers.
“Reimbursement coverage and Payer Insights”
Since aesthetic dermatology procedures are mostly elective, the market is not reimbursement dependent. While this is a disadvantage in a down economy, companies introducing new products in the segment are able to escape the hassle of securing reimbursement for new products, which are often costly and time-consuming process. Plastic surgeon are more than willing to adopt new products quickly after launch, which is not always the case in other areas of healthcare.
“Favorable outlook of the sector”
The long-term fundamentals of the aesthetic dermatology market look favorable. Companies such as Valeant that have introduced new products focused on the aesthetic marketplace during the past several years have significantly benefited from the favorable dynamics of this unique market. Allergan’s $2.1bn acquisition of Kythera in April 2015 brought in to its fold the game-changing Kybella treatment for double-chin while strengthening its facial aesthetics portfolio.
Body contouring and fat-based procedures continue to be a focus of the industry. Additionally, home therapies and consumer-based initiatives are still a major focus in the aesthetic dermatology space. The next generation products for skin resurfacing, skin tightening, and tattoo removal will continue to advance the industry’s core businesses forward.
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Data Collation (Primary & Secondary)
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In-house Estimation (Based on proprietary databases and Models)
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Market Triangulation
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Forecasting
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Market-related information is assembled from both primary and secondary sources.
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Primary sources involved participants from all global stakeholders such as experts from several related industries and suppliers that have been interviewed to obtain and verify critical information as well as to assess prospects of the market. The participants included are CXOs, VPs, and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
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Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications annual reports press releases along with paid sources such as Factiva, OneSource, Bloomberg among others.
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Top-down and bottom-up approaches: The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product, type of manufacturing, and disease) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.
