The Future of the Medical Aesthetic Devices Market to 2016 - The Market to Regain Positive Growth

The US to Continue to be the Biggest Market for Medical Aesthetic Devices

[USPRwire, Thu Jan 28 2010] The US contribution towards global medical aesthetic devices market was valued at 60% in 2009. The US medical aesthetic devices market is forecast to reach $1.7 billion in 2016 with a CAGR of 6.5%. The market is expected to be driven by the popularity of hyaluronic acid, hair removal, skin tightening, skin rejuvenation and silicone breast implant procedures. The market is also expected to be driven by increasing number of providers and direct to consumer approach of the companies.

The aesthetic laser and energy devices market is forecast to return to positive growth in 2010 after declining by 40% in 2009. The market is forecast to grow by about 5% in 2010 compared to 2009. Improvements in economic conditions and an expanding physician base are expected to drive the market. Dermatologists, obstetricians and gynaecologists are increasingly venturing into the medical aesthetics field to make more money.

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Silicone breast implants are forecast to contribute 98% towards the overall breast implants market in 2016, an increase from the current contribution of 85%. The global silicone breast implants market was valued at $521m in 2009 and is forecast to reach $962.1m in 2016 with a CAGR of 9.2%. Patients prefer silicone breast implants to saline breast implants as silicone implants feel more like natural breasts and are less prone to wrinkles.

Companies such as Allergan, Solta Medical have been using the direct-to-consumer (DTC) advertising approach to increase patients’ awareness of aesthetic medical procedures. About $36m increase in the Allergan’s expenditure between the third quarter of 2008 and the third quarter of 2009 is attributable to DTC advertising. Companies are setting up workshops to increase the level of awareness among potential patients. This is more evident in economies such as UK, where the level of patient awareness about aesthetic laser treatments is the lowest.

Allergan and Mentor dominate the global medical aesthetic devices market with a combined share of 40%. Mentor dominates the global breast implants market and has presence in the facial aesthetics market. Allergan has significant presence in both the global facial aesthetics and breast implants markets.

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Global Medical Aesthetic Devices Market is Forecast to Reach $2.9 billion by 2016
The global medical aesthetic devices market was valued at $1.8 billion in 2009 and is forecast to reach $2.9 billion in 2016 with a CAGR of 7%. The market declined by about 25% between 2008 and 2009. The economic slowdown had a negative effect on market growth in 2009 across the developed economies.
The market is forecast to grow in 2010 due to the improving economic conditions. The market is expected to be driven by an increasing number of consumers and providers (core and non-core physicians) and increasing demand for minimally and non invasive procedures. The market is also expected to be driven by companies’ focus on innovation and their direct-to-consumer marketing approach.

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