Dublin, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The "Skin Tightening Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product Type; Portability; Treatment Type; Application; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
Market for Laser Skin Tightening to Grow at Highest CAGR during 2020-2027.
Skin Tightening market is expected to reach US$ 2,350.22 million in 2027 from US$ 1,350.40 million in 2019. The market is estimated to grow with a CAGR of 7.3% from 2020 to 2027.
The growth of the market is attributed to increasing cosmetic procedures and growing aging population. However, high cost of cosmetic procedures is expected to hamper the growth of the market to a certain extent during the forecast years.
In terms of product type the radiofrequency segment held the largest share of the market in 2019; whereas, the laser skin tightening segment is expected to grow at the fastest CAGR during the forecast period. The growth of the laser-tightening segment is attributed to increasing adoption of this method owing to its extended range of advantages as lasers are considered to have multiple benefits and improve the texture and other problems on the skin such as acne, fine lines, wrinkles, and scarring. Moreover, the ease of use facilitated by these devices makes them ideal to be used by healthcare professionals across the world, which, in turn is projected to drive the growth of the segment during the forecast period.
The Americans spent more than US$ 16.5 billion on Cosmetic Plastic Surgery in 2018. The NHS is spending millions of pounds from taxpayers' money on cosmetic surgery. The NHS is balancing the bill for facelifts, nose jobs, liposuction, and breast augmentation. The number of facelifts has doubled over the past decade, while there has been a 40% rise in liposuction procedures. In 2012 and 2013, the NHS funded to carry out 1,137 facelifts costing taxpayers up to US$ 9.41 million.
The surge in disposable income, introduction of advanced technologies, and better aftercare has uplifted the count of cosmetic procedures being performed. Further, multinational corporations in the skin esthetic industry have been prominently targeting India's huge population and growing middle class population.
As per the World Economic Forum, in India, the number of households with disposable incomes of over US$ 10,000 increased twenty-folds, from 2.5 million in 1990 to ~50 million in 2015. Increasing disposable income has gifted them with the ability to afford high-cost healthcare procedures, such as skin tightening procedures.
The COVID-19 pandemic was first reported in December 2019 in Wuhan (China) and is causing massive disruptions in global supply chains, consumer markets, and the economy as a whole. As the healthcare sector is focusing on saving life of patients suffering from COVID-19, the demand for skin tightening is reducing worldwide.
Merz Pharma, Cutera Inc., Alma Lasers, BRERA MEDICAL TECHNOLOGIES S.R.L., Pollogen, BISON MEDICAL, Cynosure, Bausch Health Companies Inc., AbbVie Inc., and BTL Group of Companies are among the leading companies in the skin tightening market.
Key Topics Covered:
2. Skin Tightening Market - Key Takeaways
3. Research Methodology
4. Global Skin Tightening - Market Landscape
4.2 PEST Analysis
4.3 Expert Opinions
5. Skin Tightening Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Number of Cosmetic Procedures Performed per Year
5.1.2 Increase in Geriatric Population
5.2 Market Restraints
5.2.1 High Cost of Cosmetic Procedures
5.3 Market Opportunities
5.3.1 Surging Disposable Income and Expanding Middle-Class Population Worldwide
5.4 Future Trends
5.4.1 Launch of Innovative Products
5.5 Impact Analysis
6. Skin Tightening Market - Global Analysis
6.1 Global Skin Tightening Market Revenue Forecast And Analysis
6.2 Global Skin Tightening Market, By Geography - Forecast And Analysis
6.3 Market Positioning of Key Players
7. Skin Tightening Market Analysis - By Product Type
7.2 Skin Tightening Market Share, by Product Type, 2019 and 2027 (%)
7.3 Radio Frequency Skin Tightening
7.4 Laser Skin Tightening
7.5 Ultrasound Skin Tightening
8. Skin Tightening Market Analysis - By Portability
8.2 Skin Tightening Market Share, by Portability, 2019 and 2027 (%)
9. Skin Tightening Market Analysis - By Treatment Type
9.2 Skin Tightening Market Share, by Treatment Type, 2019 and 2027 (%)
9.4 Minimally Invasive
10. Skin Tightening Market Analysis - By Application
10.2 Skin Tightening Market Share, by Application, 2019 and 2027 (%)
10.3 Wrinkle Reduction
10.4 Face Lifting
10.5 Body Lifting
11. Skin Tightening Market Analysis - By End User
11.2 Skin Tightening Market Share, by End User, 2019 and 2027 (%)
11.3 Dermatology Clinics
11.5 Beauty Salons and Cosmetic Centers
11.6 Home Care
12. Skin Tightening Market Analysis and Forecasts To 2027 - Geographical Analysis
12.1 North America: Skin Tightening Market
13. Impact of COVID-19 Pandemic on Global Skin Tightening Market
14. Skin Tightening Market - Industry Landscape
14.2 Growth Strategies Done by the Companies in the Market, (%)
14.3 Organic Developments
14.4 Inorganic Developments
15. COMPANY PROFILES
BRERA MEDICAL TECHNOLOGIES S.R.L.
Bausch Health Companies Inc.
BTL Group of Companies.
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