The non-invasive aesthetic treatment market was valued at US$ 6,504. 19 million in 2020 and is projected to reach US$ 18,656. 54 million by 2028; it is expected to grow at a CAGR of 14. 08% during 2020-2028.
New York, June 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Non-Invasive Aesthetic Treatment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Procedure and End-User, and Geography" - https://www.reportlinker.com/p06099488/?utm_source=GNW
The market growth is attributed to the rising number of non-invasive aesthetic/cosmetic procedures performed every year, surge in awareness about cosmetic procedures among consumers, and availability of technologically advanced products. However, clinical risks and complications associated with medical aesthetic procedures are hindering the non-invasive aesthetic treatment market growth.
The scope of cosmetic treatments is expanding with the inclusion of hair care, slimming, male grooming, sun protection, and active makeup procedures, among others.According to a recent report by the International Society of Aesthetic Plastic Surgery (2018), the total number of non-surgical procedures performed globally was above 12 million in 2018.
Earlier, a large percentage of population was unaware about different types and availability of dermatological procedures as well as prices and risks associated with the same, and these procedures were more accessible to the consumers from high economic class, especially to those from urban areas.According to Glamour Magazine published in 2019, men are developing greater interest in skincare.
Further, as per a study by Kantar, they account for 31% of the total toiletries sales. Male skincare is witnessing sturdy growth with annual sales up to 16.5%. With the growing competition in workforces, men are looking for treatments that help them look less tired, and more alert and youthful to gain an edge over their competitors. Tear troughs, sharper jawline, and prominent chin are among the most frequently requested aesthetic treatments by men. In addition, recent studies reveal that men are more focused on subtle rejuvenation treatments than volumizing or plumping therapies, and thus, they are often handled with an individualized approach.
Non-invasive treatments are gaining traction due to high preference for less downtime post treatment.A Singapore-based study suggested that the younger population is increasingly taking cosmetic procedures.
Further, a Hong Kong-based study revealed that participants were unwilling to marry women who had cosmetic surgery.Similarly, a UK-based study recommended that religiously traditional people have more stringent views about deception, and they are less willing to support cosmetic surgeries than more liberal or atheist individuals.
Several government initiatives are helping in creating awareness regarding non-invasive aesthetic procedures among people.For example, the government of England began a campaign in 2019 on botched cosmetic procedures and their influence on a person’s physical and mental health.
This initiative underlines the rise in number of deaths of people enduring surgeries such as Brazilian butt lift. Furthermore, the Department of Health and Social Care of England has clarified that the campaign intends to appeal people to ask for professional help while getting fillers, Botox, and other cosmetic surgeries. Therefore, the growing awareness regarding non-invasive aesthetic treatment procedures is boosting the market.
The non-invasive aesthetic treatment market is witnessing substantial decline amid the COVID-19 pandemic.Most healthcare research organizations and hospitals are engaged in introducing new products and solutions for the better management of the disease to prevent further deaths.
In addition, governments have issued guidelines for the rescheduling or suspension of all elective surgeries with an aim to focus completely on handling the COVID-19 pandemic. This is hampering the demand for non-invasive aesthetic treatments, thus limiting the market growth.
Based on procedure, the non-invasive aesthetic treatment market is segmented into injectables, skin rejuvenation, and others.The injectables segment held the largest larger market share in 2020, and it is estimated to register the highest CAGR during the forecast period.
Factors such as the increasing number of product approvals and launches, rising awareness regarding the benefits of injectables, and overall growth in number of cosmetic surgeries are bolstering the market for this segment.The market for injectables is further segmented into botulinum toxin, calcium hydroxyapatite, hyaluronic acid, polymer filler, and collagen.
Further, the market for skin rejuvenation is subsegmented into chemical peel, laser skin resurfacing, and photo rejuvenation. The others segment includes hair removal, nonsurgical fat reduction, sclerotherapy, and cellulite treatment.
Based on end user, the non-invasive aesthetic treatment market is segmented into hospitals, clinics and medical spas, and others. In 2020, the hospitals segment held the largest share of the market; it is further estimated to register the highest CAGR of 14.9% during the forecast period.
The World Health Organization (WHO), American Society for Aesthetic Plastic Surgery, International Association for Physicians in Aesthetic Medicine, Food and Drug Administration (FDA), International Society of Aesthetic Plastic Surgery, and Emirates Standardization and Meteorological Authority are among the major primary and secondary sources referred to while preparing the report on the non-invasive aesthetic treatment market.
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