Aesthetics is a broad term referring to the medical specialties that focus on the improvement of the cosmetic appearance of the body. Aesthetic medicine includes both surgical and non-surgical procedures within the following specialties – reconstructive surgery, oral and maxillofacial surgery, plastic surgery, and dermatology. Some practitioners will a combination of both surgical and non-surgical procedures in their treatment regime.
The size of Global Medical Aesthetics Market is predicted to increase convincingly to 19,371 million USD by the year 2023, representing a Compound Annual Growth Rate (CAGR) of 9.9% however, like many other areas within the medical device industry, the impact of COVID 19 on the business has been immense. Social distancing and the decrease in discretionary income have challenged the industry. The general belief is this will pass when the pandemic is no longer a threat and the demand for aesthetic procedures will be boosted back to the pre-COVID rates.
There is no shortage of innovation in the medical aesthetics industry however, the path to market needs to be evaluated and streamlined to include something that is more resilient than before, featuring a mixed channel that includes clinical and lifestyle procedures. While single asset manufacturers will drive innovation, many will find it cost prohibitive to bring these products and technology to the forefront and reach the medical aesthetic professionals. This is where the Taruna Model can fit in, allowing you to move into new markets and geographic areas with little to no up-front costs, positively impacting your P&L. Taruna Aesthetics will include a portfolio of products featuring well-established product brands through to new innovations, which will give your product wider exposure in the market. The portfolio will be led and staffed by a team of sales and marketing professionals with years of relevant experience and an extensive network of contacts to move the business forward. If you are operating in the medical aesthetic market, with products utilised in either surgical or non-surgical procedures and feel this matches your need please reach out for more information.