Mesotherapy Market Analysis

Mesotherapy Market (Global, 2023)

Introduction

Mesotherapy is a significant and growing sector of the medical aesthetics industry. It is driven by an increasing demand for non-invasive and minimally invasive treatments. This new technique involves the injection of vitamins, minerals, enzymes, hormones and plant extracts into the mesodermal layer of the skin. This cocktail of nutrients can be used to treat a variety of conditions, such as localized fat deposits, wrinkles, hair loss and hair regrowth. Its growing popularity is being fuelled by technological developments and the rising trend for individualized treatment. Product ranges are expanding and the number of practitioners is growing. Mesotherapy is a key player in the medical aesthetics industry. These developments are shaping the future of mesotherapy and making it a focus for companies looking to tap into the growing demand for effective and individualized aesthetic treatments.

PESTLE Analysis

Political

In 2023, the regulatory framework of mesotherapy is heavily influenced by the policies of the government to ensure the safety and effectiveness of treatment. For example, the US Food and Drug Administration requires all mesotherapy products to be tested in clinical trials with a minimum of 300 participants. In this way, the cost of compliance for manufacturers has increased, and it is estimated that companies may spend up to $ 1.5 million per product for regulatory compliance and clinical trials.

Economic

The macroeconomic environment of the mesotherapy market in 2023 is characterized by a rise in health care expenditure. In the United States, health care expenditure is expected to reach $4.3 trillion, or about 19.7% of GDP. This increase in health care expenditure is reflected in the demand for aesthetic treatments, including mesotherapy, because of the willingness of consumers to spend on non-invasive treatments. Also, the average cost of mesotherapy is $300 to $600 per treatment, which makes it an attractive option for many people seeking a cosmetic procedure.

Social

In 2023, the social trends were such that the acceptance of aesthetic surgery among various social groups was on the increase. In 2024, a survey conducted by a medical research company showed that 62% of the people aged 18 to 34 would undergo cosmetic surgery, including mesotherapy. The trend of the world towards beauty and self-care was on the rise. Social media also helped the spread of aesthetic treatments. The survey also showed that more than 70% of people had heard of mesotherapy through social media, which shows the influence of digital marketing on consumers.

Technological

The evolution of the mesotherapy market is inextricably linked to technological advances. By 2023, the use of needle-free devices had gained in popularity, with over twenty-five per cent of clinics offering this technology in order to improve patient comfort and reduce recovery time. These devices employed advanced delivery systems, enabling them to administer active ingredients without the use of needles, thus enabling them to appeal to a wider audience. Furthermore, the integration of artificial intelligence into the treatment planning process was expected to improve outcomes, with fifteen per cent of practitioners already reporting improved patient satisfaction as a result of a more bespoke approach to their treatments.

Legal

In 2023, the legal framework regulating mesotherapy was becoming more and more restrictive, with various countries introducing tighter controls on the marketing and distribution of mesotherapy products. In the European Union, for example, the European Medicines Agency had decided that all mesotherapy products would have to be registered and approved by December 2024. This meant that of the more than 500 manufacturers active in the European Union, at least half would have to make substantial changes to their marketing strategies and product formulas in order to comply with the new regulations.

Environmental

The mesotherapy market is beginning to be influenced by the concept of sustainability, with the emergence of the concept of eco-friendly mesotherapy. In 2023, approximately one-third of mesotherapy clinics will have adopted eco-friendly practices, such as the use of biodegradable materials for packaging and the reduction of waste by means of the reuse of materials. Moreover, the growing trend towards reducing the carbon footprint of products has led to an increase in demand for sustainable active ingredients. Approximately one in five mesotherapy clinics will report a shift towards the use of organic and ethically derived active ingredients in their mesotherapy products.

Porter's Five Forces

Threat of New Entrants

The mesotherapy market is moderately protected by the need for specialized knowledge and regulatory approvals. This deters some new entrants. While demand for non-surgical cosmetic procedures is growing, new entrants need to invest in research and development, marketing, and adherence to regulations, which may deter some potential competitors.

Bargaining Power of Suppliers

The suppliers in the mesotherapy market, including the manufacturers of mesotherapy products and equipment, have low bargaining power. There are many suppliers and the market is characterized by a wide range of products, so that companies can easily change suppliers without significant costs.

Bargaining Power of Buyers

The buyers in the mesotherapy market, including both clinics and private practitioners, have high bargaining power. They can negotiate on prices, demand better quality and more services. Also, with increasing knowledge of mesotherapy, buyers are better informed and can demand even more.

Threat of Substitutes

The threat of substitutes in the mesotherapy market is moderate. There are other treatments for rejuvenating the skin and reducing fat, such as laser therapy and liposuction. However, mesotherapy offers unique advantages that are not completely matched by substitutes. Nevertheless, the presence of other cosmetic treatments may influence consumer choice.

Competitive Rivalry

Competition in the mesotherapy market is intense, with a large number of established players and new entrants vying for market share. The main competitive factors are the quality and innovation of products, price, and service. In addition, the rapid growth of the cosmetic medicine industry intensifies competition, as companies compete to differentiate their products and capture a larger customer base.

SWOT Analysis

Strengths

• Non-invasive treatment option with minimal downtime.
• High patient satisfaction rates due to visible results.
• Versatile applications in aesthetics, pain management, and hair restoration.

Weaknesses

• Limited awareness and understanding among potential patients.
• Regulatory challenges and varying acceptance in different regions.
• Potential side effects and complications if not performed by qualified professionals.

Opportunities

• Growing demand for non-surgical cosmetic procedures.
• Expansion into emerging markets with increasing disposable income.
• Advancements in technology and techniques enhancing treatment efficacy.

Threats

• Intense competition from alternative aesthetic treatments.
• Economic downturns affecting consumer spending on cosmetic procedures.
• Negative publicity or misinformation impacting public perception.

Summary

The Mesotherapy Market in 2023 is characterized by its strengths in providing non-invasive and effective treatment options, which contribute to the high patient satisfaction. However, the low awareness of the treatment and the high regulatory barriers can impede the growth of the market. Opportunities are expected from the increasing demand for cosmetic procedures and the technological developments. The threats are competition and economic fluctuations. Strategically focusing on education and market expansion can increase the market's resilience and growth potential.