Aesthetic Services Market (Service Type - Surgical, Non-surgical, and Reconstructive Procedures; End User - Hospitals, Dermatology Clinics and Cosmetic Centers, and Ambulatory Surgery Centers) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Aesthetic Services Market: Overview
There has been an immense growth both in valuation and in size of the North American market for aesthetic services. The soaring consciousness pertaining to one’s aesthetics and increasing engrossment towards self-grooming in the region of North America are the primary factors that have been driving the growth of this regional market for aesthetic services. In addition to this, the expansion of obese population at an alarming rate is eventually leading to augmented demand for the procedure of liposuction and the same are bolstering substantially the demand for this market.
The North America aesthetic services market was reached a market valuation of around US$14.4 bn in the year 2015. Rising at a healthy CAGR rate of 7.70% in between forecast period that extends from the year 2016 to the year 2024, the said market is, in all likelihood, estimated to obtain a market valuation of US$ 28.1 bn by the end of the year 2024.
Aesthetic services Market: Trends and Prospects
Increasing awareness about rejuvenation of the skin, growing popularity and prevalence of minimally invasive procedures of surgery and growing per capita income have been estimated to fuel the market for aesthetic services significantly in the years to come. Apart from that, advancement in the technology when it comes to aesthetic devices that are energy-based, and soaring demand from the segment of men further stimulate the growth of the North American market for aesthetic services.
In the last few years, the procedure of facial contouring and breast enhancement sub-segments have obtained substantial demand, while the advent of products that are injectable and various novel mechanical devices for the purpose of noninvasive procedures have bolstered significantly the demand for removal of unwanted fat, wart, and skin tightening.
On the flip side, however, absence of improper reimbursement is forecasted restrain the growth trajectory of this regional market for aesthetic services in the years to come. Furthermore, strict rules and regulations pertaining to the safety and comparatively low emphasis on the development dermatological devices are also hampering growth of the said North American market.
Aesthetic services Market: Regional Outlook
On the basis of regional segmentations, the North American market for aesthetic services is bifurcated into Canada and the U.S. With around 95% of the total market share, the U.S. was leading the overall market in the year 2015. Analysts of the said report prophesized that the U.S. market for aesthetic services would retain its regional supremacy over the period of forecast that extends from the year 2016 to 2024. The growing awareness amongst the American consumers regarding the aesthetic services, together with the betterment in the healthcare and medical infrastructure and the rising prevalence of various skin diseases across the region is forecasted to fuel this domestic market for aesthetic services in the forthcoming years.
Apart from all the above mentioned factors, the region is witnessing burgeoning demand for aesthetic treatments from that very part of the human population who has not been so keen into such treatments earlier but now they are, i.e. the male population. The easy and wide availability of aesthetic devices that are user friendly are also forecasted to stimulate the growth of this market in the U.S in the years to come.
Aesthetic Services Market: Vendor Landscape
Quatela Center for Plastic Surgery, Riverside Plastic Surgery, Advanced Dermatology and Cosmetic Surgery, The Plastic Surgery Clinic, Toronto, Cosmetic & Aesthetic Plastic Surgery Clinic, DCDermDocs, Marina Plastic Surgery, The MedSpa Southwest Plastic Surgery, Riverchase Dermatology and Cosmetic Surgery, and Dermatology solutions group comprise some of the eminent companies of the said market.
North America Aesthetic Services Market
By Services Type
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