Report : Europe Medical Aesthetics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Facial Aesthetic Products, Cosmetic Implants, Body Contouring Devices, Skin Aesthetic Devices, Hair Removal Devices, Tattoo Removal Devices, and Others), Application (Facial and Body Contouring, Facial and Skin Rejuvenation, Breast Augmentation, Hair Removal, Reconstructive Surgery, Tattoo Removal, and Others), and End User (Hospitals, Dermatology Clinics, Medical Spas and Beauty Centers, and Home Care)
Facial and Body Contouring Segment to Dominate Europe Medical Aesthetics Market during 2019–2028
According to a new market research study on “Europe Medical Aesthetics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User,” is expected to reach US$ 3,384.96 million by 2028 from US$ 1,562.67 million in 2021. The market is estimated to grow at a CAGR of 11.7% from 2021 to 2028. The report provides trends prevailing in the Europe medical aesthetics market along with the drivers and restraints pertaining to the market growth.Significant growth opportunities in emerging countries is the major factor driving the growth of the Europe medical aesthetics market. However, clinical risks and complications associated with procedures may hinder the growth of Europe medical aesthetics market.
The COVID-19 pandemic has shown a significant negative impact on the global and European health economies. Health services in the region are highly prioritized to serve the COVID-19 patients. The routine health care services have remained suspended. Therefore, it has affected the aesthetic medical services and its dependable revenue generation in the region. Europe has been in an area of dynamic development in the field of plastic surgery, adapting to differing cultures, traditions, and surgical and medical philosophies. In the recent times, these changes have been even more significant and rapid. On the other hand, the spread of the novel coronavirus infection has grown significantly, it has raised question regarding the safety from the aesthetic treatments done by lasers, and micro needling. Thus, the aesthetic services have been totally shutdown in the European countries. These countries have undergone second phase of lockdown as they have experienced second wave of the COVID-19 outbreak. Countries such as the UK, Belgium, Germany, Switzerland, France, Italy, and Spain are highly affected due to the outbreak. Therefore, the lockdown has widely affected the flow of businesses across the region and outside the region. Various conferences related to the aesthetic industry are being conducted through webinars. Hence, it is expected that negative impact on the market is likely to continue in the coming years.
The market for medical aesthetics is segmented into product, application, end user, and country. Based on product market is segmented into facial aesthetic products, body contouring devices, cosmetic implants, skin aesthetic devices, hair removal devices, tattoo removal devices and others. In 2020, the facial aesthetic products segment held the largest share of the market, by product. Based on facial aesthetic products type market is segmented into dermal fillers, botulinum toxin, and microdermabrasion devices. Based on cosmetic implants type market is segmented into breast implants, facial implants, and others. Based on body contouring devices market is segmented into liposuction devices, nonsurgical fat reduction devices, and cellulite reduction devices. Based on skin aesthetic devices market is segmented into laser skin resurfacing devices, light therapy devices, nonsurgical skin tightening devices, and micro-needling products. Based on the application market was segmented into facial and body contouring, facial and skin rejuvenation, breast augmentation, hair removal, reconstructive surgery, tattoo removal and others. In 2020, the facial and body contouring segment held the largest share of the market, by application. Based on the end user market was segmented into hospitals, dermatology clinics, medical spas and beauty centers and home care. In 2020, the hospitals segment held the largest share of the market, by end user. Based on country, the market is segmented into the Italy, Germany, France, UK, Spain, and rest of Europe. Rest of Europe held the largest share of the market in 2020.
Allergan Plc, Alma Lasers, Cutera Inc, El.En. S.p.A, Galderma, Hologic, Inc, Lumenis, and Mentor Worldwide, LLC are among the leading companies in the Europe medical aesthetics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, AbbVie had wrapped up its $63 billion acquisition of Allergan plc following receipt of regulatory approval from all government authorities required by the transaction agreement and approval by the Irish High Court. This move significantly expands and diversifies AbbVie’s revenue base and complements existing leadership positions in immunology.