- In India, the medical aesthetic industry is going through multiple advances, mostly across the metropolitan cities in several states of the country.
- The major factors driving this industry are the rising adoption of new technologies and the need for beauty enhancement procedures. The other highly impactful factors include the influx of competition, business, and investment from the domestic companies and the international players seeking for a large customer base.
- Since India is well-known for its fast-growing healthcare sector, the demand for medicine is becoming more specialized with technology. The medical aesthetic devices industry is also expected to observe surge via the influx of ideas and techniques from a large number of physicians and surgeons.
- However, the social stigma, including an unwillingness to adopt medical procedures in the body as well as low cumbersome reimbursement policies, restricts the growth of this market.
Scope of the Report
The scope of the Indian medical aesthetic devices market includes all kinds of medical devices that are used for various cosmetic procedures. These procedures include plastic surgery, hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc., that are used for beautification, alteration, and enhancement of the body.
Key Market Trends
The Non-surgical Skin Tightening Devices Segment is Expected to Observe Significant Growth in India During the Forecast Period
With the advent of minimally invasive procedures in general surgery, the skin tightening devices also observed significant technological advancements in recent years. In the Indian market, various types of the non-surgical skin tightening devices are available, but the majority of the devices consist of laser energy, radiofrequency energy, ultrasound energy, or a combination of these energies to deliver heat to the skin tissue. Another factor that is fueling the non-surgical devices segment is that these devices come with minimal side effects, and no pain is involved in the treatment. As a number of companies planning to further establish in the tier II cities of India, the potential demand for these devices is estimated to increase.
The Indian medical aesthetic devices market is fairly consolidated, with the presence of several global players with established brand identity. However, several local players are registering good growth and recognition in the society. However, international companies are also penetrating to different states of the country at a fast pace, which drives the business for both global and domestic players. Some of the major companies in the Indian medical aesthetic devices market include Allergan Inc., Alma Lasers (Sisram Medical Ltd), Cutera, Bausch Health Companies Inc. (Solta Medical Inc.), and Lumenis.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness Regarding Aesthetic Procedures
4.2.2 Rapid Technological Advancements
4.3 Market Restraints
4.3.1 Stringent Safety Regulations for Aesthetic Devices
4.3.2 High Cost of Aesthetic Devices
4.3.3 Social Stigma and Ethical Concerns
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Aesthetic Lasers and Energy Devices
5.1.2 Non-surgical Skin Tightening Devices
5.1.3 Aesthetic Ophthalmology Devices
5.1.4 Laser Hair Removal Devices
5.1.5 Aesthetic Implants
220.127.116.11 Breast Implants
18.104.22.168 Other Implants
5.1.6 Facial Aesthetics Devices
22.214.171.124 Dermal Fillers
5.2 By End User
5.2.2 Clinics and Beauty Centers
5.2.3 Home Settings
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allergan Inc.
6.1.2 Alma Lasers (Sisram Medical Ltd)
6.1.3 Bausch Health Companies Inc. (Solta Medical Inc.)
6.1.4 BTL Group of Companies
6.1.6 El.En. SpA
6.1.7 Hologic Inc. (Cynosure Inc.)
6.1.9 Merz Pharma GmbH & Co. KGaA
6.1.10 Syneron Medical Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.