GBI Research has published a new report entitled 'The Future of the Aesthetic Devices Market to 2016 -The Market To Regain Positive Growth', which provides key data, information and analysis on the global aesthetic devices market.
According to GBI, the global medical aesthetic devices market valued at $1.8 billion in 2009 will grow with CAGR 7% to $2.9 billion in 2016. However, the market declined by about 25% between 2008 and 2009.
The economic slowdown had a negative effect on market growth in 2009 across the developed economies. The market will grow in 2010 due to the improving economic conditions. The market is will be driven by an increasing number of consumers and providers (core and non-core physicians) and increasing demand for minimally and non invasive procedures.
Accordingly, US continues to be the largest market for the medical aesthetic devices, with majors player, like Allergan and Mentor, who will dominate the global medical aesthetic devices market with a combined share of 40%.
The aesthetic laser and energy devices market is forecast to return to positive growth in 2010 after declining by 40% in 2009. The market is forecast to grow by about 5% in 2010 compared to 2009. Improvements in economic conditions and an expanding physician base are expected to drive the market.
The companies are predicted to have a positive growth in the market with the direct-to-consumer (DTC) advertising approach. This will be more beneficial in economies like the UK, where the customer awareness is the lowest. It is also expected that the future global medical aesthetic devices market will be dominated by Allergan and Mentor, with a combined market share of 40%.