Mesotherapy Is Estimated To Witness High Growth
Mesotherapy involves injection of pharmaceutical and homeopathic preparations into the mesodermal layer of the skin via multiple micro injections for cosmetic and medical purposes. It is widely used for fat dissolution, cellulite reduction, skin tightening and skin rejuvenation. The procedure helps reduce signs of aging, wrinkles and scars, and improve skin tone and texture. The non-invasive nature and minimal downtime associated with mesotherapy has increased its popularity as an alternative to cosmetic surgeries.
The global Mesotherapy Market is estimated to be valued at US$ 654.86 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The rising demand for non-invasive cosmetic procedures is estimated to propel the growth of the mesotherapy market over the forecast period. With increasing health consciousness, consumers are opting for treatments that provide aesthetic benefits without invasive surgeries. Mesotherapy poses minimal risks and allows quick recovery, therefore gaining traction among people aiming for improvement in appearance without undergoing surgery. Further, the growing geriatric population susceptible to age-related skin issues and rising disposable income also contribute to the market growth. With rising awareness about mesotherapy and its ability to achieve aesthetic goals through a minimally invasive approach, the demand is expected to surge significantly over the coming years.
Porter's Analysis
Threat of new entrants: Low startup costs and no major economies of scale barriers allow for new players to enter the market easily. However, existing players have established brands and distribution channels.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute treatment options. However, established buyer-supplier relationships increase switching costs.
Bargaining power of suppliers: Suppliers of mesotherapy equipment and consumables have low to moderate bargaining power due to the availability of alternative supply sources.
Threat of new substitutes: Substitutes include procedures like dermal fillers, liposuction, and other injectable aesthetic treatments pose a moderate threat.
Competitive rivalry: High due to the presence of many global and local players offering customized products and services.
SWOT Analysis
Strengths: Non-invasive nature and minimal downtime of mesotherapy attracts more patients. Growing demand for non-surgical anti-aging treatments also boost the market.
Weaknesses: Potential side effects with certain mesotherapy products limits its adoption. Lack of reimbursements in developing regions hampers market growth.
Opportunities: Rising medical tourism in Asia Pacific and Middle East & Africa boosts the demand. Growing geriatric population worldwide increases the target base.
Threats: Stringent regulations delay product approval and increase compliance cost. Alternative non-invasive aesthetic treatments poses competition.
Key Takeaways
The Global Mesotherapy Market Growth is expected to witness high during the forecast period of 2023 to 2030. The market size for 2023 is estimated at US$ 654.86 Mn and projected to grow at a CAGR of 7.9% during the forecast period.
Regional analysis: North America dominates the global market and accounts for the largest market share currently. Favorable reimbursement policies and awareness regarding aesthetic procedures drive the North American market. Asia Pacific is expected to be the fastest growing region on account of rising medical tourism and increasing adoption of anti-aging treatments in China, India, and South Korea.
Key players: Key players operating in the Mesotherapy market are Bunge Limited, Archer Daniels Midland Company, Cargill, Incorporated, Wilmar International Limited, Tyson Foods, Inc.,JBS S.A.,Darling Ingredients Inc.,IOI Corporation Berhad, Ventura Foods, LLC,BRF S.A., Ajinomoto Co., Inc., Premium Vegetable Oils Sdn Bhd, AAK AB, Conagra Brands, Inc., Richardson International Limited. Bunge Limited offers a wide range of mesotherapy products and services globally. Cargill is recognized for its customized mesotherapy solutions.
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