The Aesthetic Thread market is estimated to be valued at US$ 129.5 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Aesthetic thread is a suture material that is used in cosmetic procedures to lift, suspend, augment or re-shape specific areas. It is made of multi-monofilament and is inserted into the skin using relatively minor procedure, without requirements of anesthesia. The thread lifting procedure helps in lifting of eyebrows, cheeks, jowls, neck and other areas. The growing adoption of non-surgical aesthetic procedures and advantages such as minimal downtime and quick recovery are driving the demand for aesthetic threads among consumers.
Market Dynamics:
The aesthetic thread market is expected to witness significant growth over the forecast period, owing to rising demand for minimally invasive aesthetic procedures and increasing disposable income of consumers. According to American Society of Plastic Surgeons, non-surgical aesthetic procedures grew by 7% in 2018 as compared to 2017. Additionally, growing popularity of thread lifting procedures among millennials further augments market growth. Moreover, availability of various thread products for different body parts and rising medical tourism in emerging economies also boost the market. However, high costs associated with procedures and lack of awareness in developing nations pose challenges to market growth.
SWOT Analysis
Strength: Aesthetic Thread Market is growing at a high rate of 6.6% CAGR driven by increasing aesthetic and cosmetic procedures. It offers minimally invasive techniques with less downtime. Thread lifting provides a more natural and longer lasting result compared to other aesthetic procedures.
Weakness: Lack of skilled professionals for thread lifting procedures can be a challenge. Potential risks of infection, hyperpigmentation and visibility of threads are some of the drawbacks.
Opportunity: Rising beauty consciousness and growing medical tourism in developing regions present lucrative opportunities. Technological advancements are leading to development of absorbable and biodegradable threads widening the market scope.
Threats: High cost of aesthetic procedures and economic slowdowns impact the market growth negatively. Stringent regulations and social stigmas associated with cosmetic procedures also pose threats.
Key Takeaways
The Global Aesthetic Thread Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing beauty consciousness and changing lifestyles.
Regional analysis: Asia Pacific is expected to grow at the fastest rate led by countries like South Korea, China, and Japan. The region dominates the market currently owing to high number of cosmetic procedures and medical tourism. North America and Europe also have large contribution to the market share.
Key players: Key players operating in the Aesthetic Thread Market are Menarini Group, N-Finders Co. Ltd., 1st SurgiConcept, River Aesthetics, Aesthetic Experts Lab, Metro Korea Co. Ltd., Healux Corporation, Croma Pharma GmbH, Aptos International Ltd., and Sinclair Pharma (Huadong Medicine CO., LTD.), among others. Innovation and expanding regional presence through strategic collaborations are the focus areas.
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