Key factors such as the growing adoption of non-invasive procedures, growth in aging population, increasing awareness among customers, technological advancements in energy-based medical aesthetics devices, and increasing demand for aesthetic treatments among the male population are driving the growth of the aesthetic devices market. However, stringent safety regulations for aesthetic procedures, social stigma associated with cosmetic treatments, and low focus of market players on developing medical aesthetic devices for dermatological conditions are restraining the growth of this market.
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Medical aesthetics devices are used to improve the cosmetic appearance through the treatment of conditions such as liver spots, excess fat, scars, skin laxity, wrinkles, moles, cellulite, unwanted hair, spider veins, and skin discoloration.
Allergan, Inc. (Ireland), Cynosure, Inc. (U.S.), Lumenis Ltd. (Israel), Mentor Worldwide LLC (U.S.), PhotoMedex, Inc. (U.S.), Galderma S.A. (Switzerland), Solta Medical, Inc. (U.S), Syneron Medical, Ltd. (Israel), and ZELTIQ Aesthetics, Inc. (U.S.) are some of the key players in the global medical aesthetics market.
In 2016, North America is expected to account for the largest share of the global medical aesthetics market, followed by Europe. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, owning to key factors such as rising consumer awareness and interest in aesthetic procedures, aggressive marketing by leading U.S. and European companies, and rising medical tourism in the region. Over the past three years, a number of market players, including Cynosure, Inc. (U.S.), Syneron Medical Ltd. (Israel), Allergan, Inc. (U.S.), and Galderma S.A. (Switzerland) have strategically expanded their presence in emerging Asia-Pacific countries to leverage the high growth potential in the region.