Medical Aesthetics Industry is “Ripe for Growth”

A research report from a global management consulting firm shows growth in medical aesthetics as high as 14 percent over the next five years. The trends and tips for providers within the McKinsey report are very informative.

The medical aesthetics industry is still young, and is poised to grow significantly through the rest of this decade. But that’s if manufacturers and providers capitalize on the underlying trends.

 Annual growth could be as high as 14 percent, according to a McKinsey survey of 10,000 consumers and 500 health care practitioners (HCPs) in the world’s main aesthetics markets. For providers of medical aesthetics treatments, there are several points within the McKinsey report that reveal why the industry is growing. It’s worth bearing the following things in mind if we want to reap the benefits of increased demands and new technologies.

  • Shifting consumer attitudes about wellness, beauty, and healthy aging have increased awareness and acceptance of aesthetics, generating demand from new patient segments, including men and millennials.
  • The core consumer base for aesthetics continues to be affluent women over 40 seeking facial treatments. But the pool of potential patients is steadily expanding.
  • Social media is driving awareness and acceptance, especially for new patient segments.
  • Patients increasingly come to their first aesthetics procedure well informed. Web searches are the number-one source of information in North America.
  • When patients select a practice, they list the reputation of the providers and their expertise as the most important consideration.
  • Longer-acting neuromodulators are in the development pipeline. Training and comfort will be essential to expand the use of longer-acting neuromodulators.
  • The industry is investing in new technologies, such as cell therapies and energy-based devices, (which) indicates a possible race to use new technologies, devices, and regenerative medicines.

It’s heartening to note that more patients are doing their homework about aesthetics products and who will be providing treatments. Medical aesthetics professionals will want their experience and training qualifications highlighted on their websites and social media platforms. Knowing who your potential patients are and what they are looking for will better position you to take full advantage of the upwardly trending popularity of medical aesthetics.

Click here to read the full McKinsey report


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