Published On: March 2018
Historically, the aesthetic industry hasn’t always been thriving. In fact, in the 1980s and 1990s, the industry slowly started with laser tattoo removal, laser removal of pigmented and vascular lesions and laser hair removal as the primary treatments. Laser skin resurfacing was just in the early phase of becoming popular in the mid-1990s, however, with extended healing times, this ablative procedure was performed on fewer than 150,000 Americans each year.
Aesthetic surgeries were initially the domain of plastic surgeons, whose major tools consisted of surgical methods to lift the skin. Bovine collagen was rarely used to plump wrinkles, but the obligation of a pre-treatment skin test depressed many patients. At that time BOTOX, from Allergan (Irvine, Calif.), had not yet received FDA approval for cosmetic use but was progressively being used off-label to freeze wrinkles.
Introduction of hyaluronic acid dermal filler that could even out wrinkles without pre-treatment testing was established in 1996. As practice spread across Europe, interest in injectable’s developed. About this same time, less offensive photonic skin rejuvenation measures emerged. Erbium lasers were largely replacing carbon dioxide devices for ablative procedures by offering lighter treatments with reduced downtime. Lasers that targeted vascular structures arose to be repackaged as non-invasive skin rejuvenation systems, presenting effects such as skin smoothing and evening of the complexion. Dermatologists started obtaining devices and growing into aesthetics; they were rapidly followed by other specialists who were eager to fulfill consumers’ growing appetite for effective, medically-based aesthetic treatments.
Where is the market heading to?
Aesthetic procedures are exploited extensively to meet the emotional and physical satisfaction of the patients. The available aesthetic procedure in the Asia Pacific market can be categorized into the surgical aesthetic procedures and non-surgical or minimally invasive procedures. The demands for surgical procedures like liposuction, breast augmentation, abdominoplasty, and others are increasing within the market. This can be concluded on the basis increase obese population and rising cosmetic expenditures. On the other hand, non- surgical aesthetic procedures segments are expected to be the fastest growing market.
The nonsurgical aesthetic procedure market is projected to reach USD 1,584.6 million by the end of 2023 at the CAGR of 11.83% during the forecast period 2017-2023.
Furthermore, a number of products are available in the market to meet the growing demands for aesthetics in the market. These range from aesthetic lasers to microdermabraders. In the recent years, the laser has been extensively utilized for aesthetic purposes due to the associated advantage of minimal invasion. Low-level laser therapy has been used for liposuction, treatment of hair loss, skin resurfacing, besides others. Laser skin resurfacing reduces facial wrinkles, scars, and blemishes. Till date, numerous laser platforms are present that rejuvenate the skin by resurfacing its upper layers. In 2016, according to the American Society of Plastic Surgeons, 586,662 minimally-invasive cosmetic procedures were performed for laser skin resurfacing
The market for laser and energy based devices segment is projected to reach USD 839.3 million by the end of 2023 at the CAGR of 10.00% during the forecast period 2017-2023.
The Asia Pacific aesthetic market is segmented on the basis of the regions/country: China, India, Japan, Australia, and Rest of Asia Pacific. Japan accounts for a major share of the market owing to rising cosmetic expenditures and rising demands for minimally invasive aesthetic procedures. India accounts for the second largest market, which is followed by China. A developing healthcare infrastructure and rising per capita income has driven the aesthetics market in India, and the region is estimated to grow at the fastest CAGR. On the other hand, Australia holds the least share of the market.
The Asia Pacific aesthetic market for Japan is expected to reach USD 1,036.2 million by 2023 at a CAGR of 11.8%.
Growing Demand for Aesthetic Treatments
The growing demand for beauty treatments worldwide and other anti-aging related cosmetic procedures are accelerating the growth of the Asia Pacific aesthetics market. Growing demand to look young and visible positive effects of these treatments is increasing the popularity of aesthetic procedures in population all around the globe. For example, tattoo removal procedures what may have once appeared like an awesome thought can easily be much of bad decision you'd rather simply overlook. Fortunately, tattoo removal is becoming easier than ever in recent times because of advances in medical laser technology globally. Furthermore, it's not simply tattoos that are getting the laser treatment. In fact, energy-based based treatments that utilization everything from microwaves to radio frequency to ultrasound is broadly utilized as a part of both aesthetics treatments and medical procedures, to alter tissue and destroy pathology.
Moreover, technological Advancements is the main factor which is supporting the growth of the aesthetics market. The 21st century is witnessing new developments in the industry of life science every day in various aspects. New technologies offer a wide array of products to treat a number of different cosmetic surgeries. We are living in the era of advanced technology wherein all aspects of our day to day life is infiltrated by it in some way or the other. In any case, technology intervention is not restricted to cell phones, GPS locators, savvy watches and so on. There is significantly more to investigate in this space. Innovation has plagued not just as far as making our lives easier but to change our physical well-being also. Some of the major technological advancements in the aesthetics industry which are driving the growth of the market are Aesthetic Lasers, Neurotoxins in Facial Aesthetics, Aesthetic medicine, Advancements in Minimally Invasive Technologies.