LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global non-surgical cosmetic procedures market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Amber Chourasia, a lead analyst from Technavio, specializing in research on health and wellness sector, says, “The global non-surgical cosmetic procedures market is growing at a steady rate, due to the rising demand for appearance enhancement and the shift in consumer preference for minimally and non-invasive procedures.”
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The top three emerging market trends driving the global non-surgical cosmetic procedures market according to Technavio research analysts are:
- Growing importance of aesthetics
- Growth of medical tourism
- Growing number of men opting for cosmetic treatment
Growing importance of aesthetics
“Aesthetic medicine uses minimally invasive cosmetic procedures to improve the appearance of people. In 2015, more than 20 million aesthetic procedures were performed globally. The demand for minimally invasive cosmetic procedures has led to an increase in the growth of cosmetic products. Among baby boomers, especially in developing countries, aesthetic medicine is a growing trend as people consider it as a part of a normal health treatment due to their desire to maintain a natural and healthy appearance. Patients not only want to be fit and healthy but also want to minimize the effects of aging.
“There has been an increase in the number of skilled medical professionals that perform aesthetic procedures. Various marketing strategies implemented by clinics and vendors also played a key role in driving the demand for aesthetic treatments,” says Amber.
Growth of medical tourism
In developing countries, the cost of high-quality treatment is lower when compared with developed countries, which drives people to these countries for treatment. It is estimated that around 34% of medical tourists travel for cosmetic surgery. People from the US prefer traveling to Brazil, Mexico, Costa Rica, and Panama for cosmetic surgery. People also travel from other countries in Europe to Hungary, Mexico, India, and Malaysia for cosmetic procedures, which results in savings of approximately 55%-70% of the treatment expense.
Improvements in healthcare infrastructure and the availability of high-quality medical services in developing countries will propel market growth for medical tourism, thus benefitting the global non-surgical cosmetic procedures market.
Growing number of men opting for cosmetic treatment
In the past, women were the most common consumers of cosmetic products. However, these days, men have also adopted surgical and non-surgical cosmetic procedures. The desire to improve their appearance is driving men in developed countries such as the US to undergo cosmetic procedures. The higher penetration of laser treatments such as hair removal is also contributing to the total number of non-surgical cosmetic procedures adopted by men.
There is an increase in the number of non-surgical cosmetic procedures when compared with surgical cosmetic procedures due to the limited side-effects and lower risk of post-surgery complications associated with non-surgical cosmetic procedures. The adoption of BOTOX has increased due to an increase in the number of non-surgical cosmetic procedures.
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