Global Aesthetic Equipment Market: Brief Description
Aesthetic is term which is used in reference with beauty or a rather pleasing appearance and is also derived from the aisthetikos, which is a Greek word. This word means sentient, sense, and esthetic. Increasing aesthetic awareness among consumers, especially among the aged population, is triggering the demand for several devices which are utilized in aesthetic procedures. Chin surgery, brow lifts, face lift surgery, eyelid surgery, breast augmentation, thigh lift, tummy tuck, bra line back lift, skin rejuvenation, liposuction, and hair replacement are some of the primary aesthetic procedures that are being carried out across the globe. Aesthetic procedures are carried out to improve the self-esteem and appearance of individuals with a positive attitude, thus garnering extreme confidence in people. Energy based devices, intense pulsed light devices, microdermal abraders, dermal lasers, light emitting diodes, and dermal fillers are some of the commonly used equipment in aesthetic procedures.
This industry study is an evaluation of the growth prospects and historical tract of the global aesthetic equipment market. It deals with the assessment of the facets that are projected to sway the expansion of the market both negatively and positively. Further, the key trends have also been indicated in the publication. The research study further presents a wide outlook on the seller landscape of the market with reference to Porter’s five forces analysis. The research report deals with the R&D activities, mergers, acquisitions, and particulars on certifications and partnerships. The report reviews the approaches related to shares, publicity, and product range of the key accomplices in the global aesthetic equipment market.
Global Aesthetic Equipment Market: Drivers and Inhibitors
The global aesthetic equipment market is expected to expand extensively owing to the growing aesthetic consciousness among consumers, evolving procedures which are minimally invasive, rising number of incidences of obesity, and budding technological advances which ultimately leads to device innovation. These aspects are also likely to lift the number of aesthetic procedures being performed across the globe. Although the demand for aesthetic procedures is basically from the geriatric population, the young population is also preferring the use of aesthetic procedures, thus triggering the demand for aesthetic equipment. However, the market is likely to be negatively impacted by the high cost of the aesthetic procedures and the exclusion of these procedures from reimbursement policies. As a result of these factors, people are likely to be hesitant towards the adoption of these procedures.
Global Aesthetic Equipment Market: Regional Overview
Region-wise, the global aesthetic equipment market is dominated by North America followed by Europe in the second place. The main reason behind the extensive growth of the North America aesthetic equipment market is the growing number of elderly population demanding aesthetic procedures for appearance enhancement. The top surgical procedures that the region witnessed are face lift, liposuction, eyelid surgery, nose reshaping, and breast augmentation. Manufacturers of aesthetic equipment can also capitalize on the opportunities arising from emerging economies such as Mexico, Brazil, India, and China. The market in Asia Pacific is expected to register strong growth.
Global Aesthetic Equipment Market: Competitive Landscape
The leading companies engaged in the production and distribution of aesthetic equipment are Medicis Pharmaceutical, Light BioScience LLC, Dornier MedTech, Genzyme Corporation, Focus Medical, Alcon Inc., PhotoMedex Inc., Miramar Labs, Inc., Solta Medical, Syneron Medical Ltd., Johnson & Johnson, Lumenis, Inc., and Allergen Inc. among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.