Aesthetic thread, also known as barbed sutures or bidirectional barbed sutures, are soft, pliable threads made of absorbable materials that are inserted under the skin with tiny barbs to lift or sculpt areas on the face and body through a minimally invasive procedure. Aesthetic threads offer a safe and effective alternative to surgical facelifts and are used for lifting eyebrows, cheeks and neck. With the rising aging population worldwide and growing consumer preference for non-surgical aesthetic procedures, the demand for aesthetic threads is increasing substantially.
The global Aesthetic Thread Market is estimated to be valued at US$ 149.19 Bn in 2023 and is expected to exhibit a CAGR of 20.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity to meet the increasing demand for anti-aging treatments presents a major market opportunity for players in the aesthetic thread market. With growing disposable incomes and improving standards of living, consumers are increasingly willing to spend on aesthetic procedures to restore youthfulness and enhance physical appearance. As aesthetic threads offer minimally invasive solutions to tackle signs of aging such as sagging skin and wrinkles, their demand is growing rapidly. According to the American Society of Plastic Surgeons, the number of minimally-invasive cosmetic procedures performed in the U.S. using products like botulinum toxins and soft tissue fillers increased by over 53% from 2000 to 2020. This points to a clear consumer preference for aesthetic procedures that involve minimal downtime or surgery. Aesthetic thread manufacturers can capitalize on this opportunity by developing innovative threads catering to diverse anti-aging needs and marketing them effectively to both practitioners and end users.
Porter’s Analysis
Threat of new entrants: The aesthetic thread market requires high investments for R&D, which poses a barrier for new entrants. Further, the dominance of key players makes it difficult for new players to gain consumer acceptance.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like aesthetic procedures. However, increasing brand consciousness gives players an advantage.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials are commoditized and available from numerous sources globally.
Threat of new substitutes: Alternatives like aesthetic procedures, anti-aging creams pose a threat. However, thread lifting has gained popularity owing to less downtime and invasiveness.
Competitive rivalry: The market is moderately competitive due to presence of major brands and private labels. Players compete on factors like price, innovation, and brand positioning.
SWOT Analysis
Strengths: Non-invasive nature and minimal downtime of thread lifting procedure. Rapid recovery and minimal pain/ discomfort.
Weaknesses: Short-term results and need for repetitive treatments. Expensive compared to other aesthetic treatments.
Opportunities: Rising number of medical tourism destinations and aesthetic centers. Growing awareness about aesthetic procedures.
Threats: Strong competition from other aesthetic treatments and anti-aging products. Risk of side effects and complications if not done by certified professionals.
Key Takeaways
The global Aesthetic Thread Market Share is expected to witness high growth during the forecast period due to rising focus on aesthetic appearance.
Regional analysis: Asia Pacific is expected to be the fastest growing market for aesthetic threads, rising at over 22% CAGR during the forecast period. Growing medical tourism in countries like India and Thailand coupled with large population base drives growth. China dominates the APAC market owing to focus on cosmetic procedures and presence of key manufacturing facilities.
Key players: Key players operating in the aesthetic thread market are Aptos International, Gold Thread, Healux, Metro Korea, Aesthetic Experts Lab, Sinclair, River Aesthetics, and Dermatochirurg. Aptos International dominates the global market while Gold Thread and Sinclair have strong presence in APAC.
Explore more related article on this topic: https://www.newsanalyticspro.com/aesthetic-thread-market-demand-analysis/
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