Aesthetic Threads Market Growth, Trends, COVID-19 Impact and Forecast (2021 - 2026)
The aesthetic threads market was valued at USD 112. 2 million in 2020 and it is projected to be valued at USD 177. 69 million by the year 2026 with a CAGR of 7. 4% during the forecast period.
New York, March 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aesthetic Threads Market Growth, Trends, COVID-19 Impact and Forecast (2021 - 2026)" - https://www.reportlinker.com/p06028479/?utm_source=GNW
COVID-19 has brought several adverse impacts to the industry, and there are several medical companies whose supply chains from other regions are on hold or at risk of being held up. The Beauty and Personal Care (BPC) industry has witnessed a decline in the wake of the COVID-19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the BPC market has witnessed a consumer behavioral shift toward safe and reliable products. Products that have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out soon. Brands have also been focusing on improving their supply lines in terms of strengthening their e-commerce channel, along with offering at-home wellness products, which are highly suited in this volatile business environment. However, plastic surgeons have received a surge in inquiries for cosmetic procedures since the coronavirus lockdown was lifted, with workers desperate to look good on Zoom calls. Zoom-Face Envy has come about because many people are now confronting the reality of what they actually look like and comparing themselves with others as they sit through yet another work teleconference or virtual catch-up.
The growth of the aesthetic threads market can be attributed to the increasing use of minimally invasive treatments for anti-aging, face lifting, and face rejuvenation. For instance, as per the International Society of Aesthetic Plastic Surgery 2019 report, 448,485 are the total number of facelift procedures that were performed globally.
Presently, many cosmetic practices are being advertised as having minimal recovery and maximal convenience for the patient. The thread-lift procedure has been popularized for brow-, midface, jowl, and neck-lifting, and it is credited with the above-mentioned advantages. Moreover, these procedures are less time consuming and are called as ’lunchtime facelift’ in certain countries, as they can be done in between lunchtime for busy office professionals. These factors make such procedures highly valuable, as they provide good effects in less time, attracting several consumers across the world, thus driving the market.
Moreover, growing aging populations are also expected to drive the market as the ageing phenomenon affects the human face by provoking an array of microscopic and macroscopic complex volumetric changes. According to the World Ageing Population report, in 2019, around 703 million people aged 65 years and above were living all across the world. Over the next three decades, this number of older populations is expected to increase more than double, over 1.5 billion by the year 2050.?
Moreover, the presence of unregistered practitioners, the high cost of procedures, and uncertain and short-term results are restraining the growth of the market. Many health authorities have been investigated the cases of people being injected with illegally imported cosmetic products, by unqualified doctors in residential premises and hotel rooms. In 2018, the NSW Health Care Complaints Commission (HCCC) has received an increased number of complaints about cosmetic procedures being performed by non-medical people, particularly in Sydney, Australia. These cosmetic procedures include double eyelid suturing, nose bridge lifts, protein suture facelifts, dermal fillers, and glutathione skin whitening injections, which were being advertised through social media.
Key Market Trends
The Face Lift Segment is Expected to Exhibit the Fastest Growth Rate over the Forecast Period
A thread Facelift is a type of procedure wherein temporary sutures are used to produce a subtle but visible lift in the skin. Instead of removing the patient’s loose facial skin surgically, the cosmetic surgeon simply suspends it by stitching up portions of it.
Unlike a traditional surgical face-lift, the thread lift does not involve incisions or deep-tissue manipulation. It is a much easier process for the patient, which involves getting filler-like substances as opposed to getting a facelift surgery. For many patients, the biggest advantage of having a thread lift rather than a facelift is the greatly reduced recovery time associated with thread lifts.
This procedure is also gaining traction over surgical procedures due to the increasing demand for non-surgical procedures around the world. For instance, according to the American Society of Plastic Surgeons 2019 report, the facelift procedure holds 5th position in the top 5 cosmetic surgical procedures performed in the United States with around 123,685 procedures performed in 2019 in the US. As per the same report, the national average surgeon fee for facelift procedures in the US is USD 7,467 and the total expenditure for facelift procedures in 2019 in the country is USD 923,527,947.
Market players are also launching training courses to provide better quality treatment. For instance, in 2018, Derma Medical Launched PDO Thread Lift Training Course in London, which focused on cutting edge techniques to rejuvenate the aging face. This trend is also expected to rise in the future, which may boost the thread facelift market.
Additionally, the COVID-19 pandemic has significantly affected the aesthetic treatments such as the facelift procedures market as the cosmetics industry relies on close physical contact with their clients, leaving it negatively affected for few months in the year 2020. However, post lockdown and in the forthcoming years, it is expected that facelift procedures will experience a rapid surge as many of the planned and fixed appointments in early 2020 for the facelift procedures have been halted due to the untimely and sudden lockdown restrictions globally.
North America Captured the Largest Market Share and it is Expected to Retain its Dominance in Future
North America dominated the overall aesthetic threads market, with the United States accounting as the major contributor to the same. Only a few years old, thread lift is one of the fastest-growing cosmetic procedures in the United States, and it has received a lot of exposure for the past many years, which may boost the aesthetic thread market in the coming years.
Moreover, the United States is one of the largest markets for minimally invasive aesthetic procedures in the world. According to the International Society of Aesthetic Plastic Surgery 2019 report, around 276,069 procedures of facial rejuvenation were performed in 2019 in the United States.
There is a wide variety of indications that can be targeted by cosmetic threads and the potential patient pool for cosmetic threads is enormous. However, the aesthetic threads market is yet to reach its full potential in North America, and it is expected to grow at a robust growth rate during the forecast period.
Additionally, the Asia Pacific region is founded to be the fastest-growing region in the Aesthetic threads market owing to the increasing adoption of aesthetic procedures, increasing aging population. According to the International Society of Aesthetic Plastic Surgery 2019 report, around 80,304 procedures of facial rejuvenation and 7,488 facelift procedures were performed in 2019 in India.
The market studied is highly fragmented, with the majority of manufacturing operations taking place in the North American countries. The key players in the market studied include Aptos International Ltd, Croma Pharma GmbH, Sinclair Pharma, River Aesthetics, Spring Thread, and 1stSURGICONCEPT. The industry is witnessing a series of acquisitions and mergers. For instance, In May 2019, the French manufacturer 1st SurgiConcept had launched Spring Thread in the United Kingdom for the treatment of face and body ptosis. In September 2018, Croma-Pharma GmbH, an Austrian family-owned company launched its HA filler and PDO thread products in the United States.
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