The global aesthetics combination therapy market is slated to grow from more than US$ 2,100 Mn in 2017 to nearly US$ 3,700 Mn by 2024 end. This represents a CAGR of 8.1% over the forecast period. The global aesthetics combination therapy market represents an incremental opportunity of US$ 1,715 Mn between 2016 and 2024.
Healthy economic growth the world over to promote nice-to-have services
Due to a booming stock market and rising affluence, the increasing spending power in the United States is boosting the market for nice-to-have services, which include various beauty treatments. The rise in disposable income is more visible amongst the affluent class, who make up the largest customer base for advanced beauty services such as facelifts and rejuvenation therapies like dermal filling, microdermabrasion, chemical peeling, laser treatment and others. Other than this, a rising aging population and a burning desire to restore a youthful appearance are the other boosting factors for generating a healthy demand for beauty treatment services in the U.S. However, this phenomenon is not restricted to the U.S. alone. As per World Bank forecasts, the economic growth in the East Asian and Asia Pacific region is expected to be 5.7% approximately in 2017-18, and will continue to remain stable over the next three years. Due to this economic prosperity, the nice-to-have high end services in the beauty industry such as facial rejuvenation are going to have a positive impact. Moreover, private consumption expenditure is set to remain close to 8%, which further boosts the economic sentiment in such regions and leads to a deeper regional penetration of the aesthetics combination therapy market. Such factors are expected to create a favorable environment for the adoption of laser treatments and other expensive treatment procedures in the realm of aesthetics. This is set to boost the global aesthetics combination therapy market.
Easier availability of low-end products in low-income countries could increase product awareness and uptake
There is an abundance of dermatology service providers in low income countries such as India, Thailand, Malaysia, Vietnam, etc. who tend to prescribe chemical peels and various creams and lotions as the best treatment options for facial rejuvenation. However, in contrast to this, in economically affluent countries such as U.S., U.K., UAE and Japan, the use of only approved Botulinum type-A neurotoxins is seen and in such countries, close to 50% procedures are done using Botulinum type-A injections. Hence, easier availability of products and affordability is set to increase the demand for combination therapy for enhanced results and is therefore set to boost the global aesthetics combination therapy market.
Absence of clinical evidence and increasing incidence of adverse reactions pose potential risks to patient safety, thereby hampering adoption of aesthetics combination therapy
Due to intense cut-throat competition, there is a constant pressure on the players in the facial rejuvenation market to introduce newer products, which is still in its nascent stage and in a constant state of flux. Due to this intense competitive pressure, there is a compulsion for early introduction of products, especially peels, topical solutions, etc., which may lead to adverse drug reactions such as skin rashes, pain, hyper-pigmentation etc. Due to such incidents, customer faith is lost and this is likely to restrict overall market growth. In addition, beauty treatments are sometimes not administered properly, which results in severe or adverse side effects. Patients could experience symptoms such as flu, fever, extreme pain and swelling within 48 hours, if the injection is not administered properly and punctures a facial vein. Presently, very few institutes offer training on advanced procedures, and there is a dearth of trained professionals, especially in developing countries, where such treatments are still nice-to-have services.
Global Aesthetics Combination Therapy Market Attractiveness Analysis by Application Type, 2016–2024
Scar Removal segment dominated the global aesthetics combination therapy market in terms of revenue in 2016, and the trend is projected to sustain throughout the forecast period. Scar Removal segment is also the most attractive segment, with an attractiveness index of 1.5 over the forecast period. Revenue from the Scar Removal segment is anticipated to register a CAGR of 8.5% over 2016-2024, to reach more than US$ 1,000 Mn by 2024. Skin Resurfacing segment is expected to be the second most lucrative segment in the global aesthetics combination therapy market, with an attractiveness index of 1.3 during the forecast period. Skin resurfacing segment accounted for 24.2% value share in 2016 and is projected to account for 25.4% share by 2024 end.
“Growing medical tourism trend to fuel the global aesthetics combination therapy market
Due to an increasing medical tourism trend in destinations such as Brazil, Dubai, Thailand, Singapore, South Korea, etc. facial rejuvenation as an industry is set to witness a strong demand. This trend is strong in Brazil, where there were around 5,500 cosmetic surgeons operating in the country in 2014, performing the second highest number of aesthetic procedures after the U.S. The cosmetics surgeons in Brazil prefer to use only U.S. FDA approved drugs such as Sculptura for the purpose of treatment. Aesthetic tourism packages are also popular in Dubai, where people come from regions outside the GCC, India and other MENA countries.”
--- Analyst – Life Sciences & Transformational Health, Persistence Market Research
Persistence Market Research presents a new and comprehensive report on the global aesthetics combination therapy market titled ‘Aesthetics Combination Therapy Market: Global Industry Analysis and Forecast, 2016–2024’. The report starts with an exhaustive executive summary that includes the market overview of the global aesthetics combination therapy market coupled with a terse explanation of the drivers, restraints and trends along with a brief mention of the key players operating in the global aesthetics combination therapy market. The executive summary also gives an overview of the most lucrative region in terms of revenue in the global aesthetics combination therapy market along with a split of the market numbers in terms of therapy type, application, end user and region. In the last part of the executive summary, the key takeaways are included, which highlight the overall market approach, target geographies and differentiating strategies adopted by key market players to stay on top in the global aesthetics combination therapy market. After the informative executive summary, the global aesthetics combination therapy market taxonomy is given. The global aesthetics combination therapy market is divided into the following segments and sub-segments.
By Therapy Type
By Application Type
By End User
After the market taxonomy section, there is a comprehensive and a detailed section explaining the market definitions of what constitutes aesthetic combination therapies and also lists out the advantages. This section makes it clear to the readers about the scope that the report has undertaken and also informs the readers about the various procedures that are available in the market. The subsequent section gives information about the market value of the global aesthetics combination therapy market and also states the year-on-year growth rates along with the incremental dollar opportunity from 2016 to 2024. The next section of the report is important as it lists out the various drivers, restrains, trends and opportunities in the global aesthetics combination therapy market. This gives readers a clear idea of where the global market is headed and the various factors encouraging and inhibiting revenue growth of the global aesthetics combination therapy market. Also, the trends section gives the readers information about where the market is headed based on different trends and which trend is going to be strong in the future. The opportunities section provides information on the opportunities developing in the global aesthetics combination therapy market so that they can be properly utilized. Such market dynamics presented in detail give a 360 degree view of the global aesthetics combination therapy market and equip readers with the latest information to help them decode the market so that they can invest their capital and resources accordingly.
The subsequent section of the report gives information about the recent industry updates on combination procedures and the impact analysis of the drivers and restraints is also given so that the readers know which market factor is going to affect the global aesthetics combination therapy market the most and to what extent. The sections after this give information about the global aesthetics combination therapy market share and year-on-year analysis by therapy type, application type, by end user and by region. These sections of the report include key information regarding the absolute dollar opportunity and market attractiveness analysis. After this, the bulk of the report contains information about the global aesthetics combination therapy market in terms of the various procedures available, in terms of application and market value forecast in terms of end user and country. As stated earlier, market attractiveness index for each segment is given for each country and region, giving valuable insights into the global aesthetics combination therapy market. In addition, prominent trends and impact analysis of drivers and restrains across every assessed region are also separately discussed.
Last but not the least, a comprehensive section regarding the key market players operating in the global aesthetics combination therapy market is also one of the main attractions of this report. This section gives valuable information regarding the key market players such as the company description, product overview, company details, key developments and strategy overview of the important market players operating in the global aesthetics combination therapy market. A SWOT analysis is also presented to offer a comprehensive understanding of each of the companies that have been included in the competitive dashboard. Financial information of the companies is also included.
Overall market size has been analyzed through historical data, primary responses, and public domain data. Revenue of companies functioning in the global aesthetics combination therapy market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the assessed period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macroeconomic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated with the help of the triangulation method and is extensively scrutinized using advanced tools to garner quantitative and qualitative insights into the global aesthetics combination therapy market.