The aesthetic medicine market - United Kingdom

1.2 A rapidly growing global market

The global aesthetic medicine market was valued at $**.* billion in **** and is expected to grow at a CAGR of *.*% by ****. Innovation in aesthetic devices over the past decade has led to growth in demand for aesthetic treatments.

The introduction of technically advanced products, such as non-invasive body contouring systems using controlled cooling technology, is expected to create growth opportunities for the market in the near future.

This very strong growth is expected to continue at a slower pace until ****, due to the global economic recovery but also thanks to the Asia-Pacific market, which is driving much of this growth (***).

Apart from the spectacular dynamics of the Asia-Pacific region, the other regions of the world have experienced moderate growth since ****, including Europe, which now represents **% of the global market [***].

Currently, the global market is still largely dominated by the United States, which accounts for **% of global sales. This proportion is expected to remain more or less constant by ****, as it is estimated that by then the US will account for **% of the global market by value. It would then be followed by Europe (***).

The global aesthetic medicine market in value World, **** as % of total Source: ****

In terms of cosmeceuticals, injectable substances represent ...

1.3 The UK market

In ****, the UK cosmetic surgery market was worth £*.* billion, with * out of ** procedures being non-invasive, while the market for cosmetic medicine was £*.** billion which accounts for **% of the cosmetic surgery market. [***]

By ****, the non-surgical cosmetic medicine market had grown to £*.* billion. [***]

UK cosmetic medicine market United Kingdom, ****-****, £ billion Source: ****

2.1 Popular beauty treatments in the UK

The following charts detail the most popular types of cosmetic medicine treatments in the United Kingdom. For example, age-related treatments represent the largest share of aesthetic medicine.

Popular Aesthetic Medicine Treatments in the UK United Kingdom, ****, in percent Source: ****

Looking specifically at the types of treatments offered, botulinum toxin and dermal fillers are the most represented.

Types of treatments popular in the UK United Kingdom, ****, in percent Source: Hamilton Fraser Cosmetic Insurance In addition, the **** BCAM report lists the following as the five most common treatments in the UK: Toxin injections HA dermal filler Mesotherapy PRP Laser/IPL

2.2 Management of complications

In ****, figures from insurer Hamilton Fraser report that **% of cosmetic medicine treatments had not resulted in complications. However, **% of treatments had induced the need for further intervention by a medical professional. During this period, **% of complications were due to swelling.

However, in ****, the British College of Aesthetic Medicine reported *** complications with the following distribution of causes.

Treatments that resulted in complications United Kingdom, ****, percentage Source: ****

In addition, Hamilton Fraser reports that in ****, only **% of complications had been reported. Patients with these complications had referred themselves more than one in two times to a health care professional, and to an aesthetic physician in **% of cases. Who did you turn to for advice when you had a complication? United Kingdom, ****, in percent Source: ****

2.3 Demand trends

Increased post-lockdown demand

The first quarter of **** heralded complications for the sector related to the health crisis. Eighty-one percent of clinics had been forced to close, **% had experienced a decrease in revenue, and **% noted lower interest in their services.

The later stages of the crisis, however, were marked by an increase in demand for cosmetic procedures. By the end of the first national lockdown, **.**% of practitioners noted an increase in their client base.

Telemedicine

Practitioners in the sector have taken advantage of the health crisis to develop remote consultation procedures in order to maintain contact with their clients. The British Association of Aesthetic Plastic Surgeons also claims that British doctors have seen a **% increase in requests for remote consultations.

The Zoom Effect

Derma Institute also details an effect related to the increased use of video conferencing platforms like Zoom. Indeed, the high frequency of use forces users to see their own face more often, and therefore to notice possible imperfections.

This trend may therefore explain the observed increase in demand for non-invasive facial treatments and rejuvenation procedures for the neck and jaw.

Source: ****

3.1 A market structured around equipment manufacturers and practitioners

The aesthetic medicine value chain consists of several steps. First, raw materials are supplied to equipment manufacturers, who process them to produce the medical equipment. The latter is then purchased by medical institutions, hospitals and aesthetic medicine centers and is finally used to perform a non-surgical procedure on the final patients.

There are two main types of players in the aesthetic medicine market: manufacturers of aesthetic equipment and medical practitioners or facilities.

*) Equipment manufacturers

The UK manufacturer market is characterized by key specialization due to the demanding technology and cost of medical equipment for aesthetic purposes. There are three main market segments: injectables, equipment and cosmeceuticals

Injectables are chemical substances inserted into the skin with a needle, which support the muscles or plump up the skin, thus reducing the appearance of wrinkles. The two main types of injectables are neuromodulators, such as botulinum toxin, which are used to weaken and paralyze facial muscles, and dermal fillers, such as hyaluronic acid, which are placed under the skin to provide volume and support in multiple areas of the face. Equipment are the devices used by practitioners to perform an aesthetic medicine treatment. Based on technology, they are classified into three categories: laser, ...

3.2 Production of aesthetic medicine equipment

The production of equipment for aesthetic purposes includes the manufacture of breast prostheses, injectables, equipment and finally cosmeceuticals. As the aesthetic market requires high entry costs and advanced technology, most manufacturers are in the production of one of these segments.

As the main players in the market are international groups, most of the production sites are located abroad.

Each product requires its own production line:

The manufacture of botulinum toxin for cosmetic purposes is strictly regulated. In the UK, there are only three licensed brands: Azzalure, Bocouture and Botox. Equipment manufacturing involves energy-based equipment such as lasers, ultrasound and liposuction devices. Most of the manufacturers are foreign. There are two types of players in the cosmeceuticals market, namely pharmaceutical companies and dermatology or cosmetology groups and laboratories. The synthesis of cosmeceuticals by laboratories necessarily includes the intervention of antioxidants such as vitamin C or E in high concentration: ** to **% (***).

4.1 Overview of the offer

The offer on the aesthetic medicine market can be segmented as follows

*. Injectables

Botulinum toxin: Botulinum toxin acts by inhibiting the release of the neurotransmitter acetylcholine: by blocking its release in the muscles, it reduces excessive facial mimicry and thus blocks the sagging of the skin, the primary cause of wrinkles and stretch marks. This facelift does not require any type of anesthesia, is performed without hospitalization, and does not leave any obvious signs on the face such as acchimosis (***). There are three botulinum-based formulations for aesthetic use licensed in the UK: Azzalure, Bocouture and Botox. Calcium hydroxylapatite: is a mineral salt found in the human body. Microspheres of calcium hydroxyapatite, bound to a methylcellulose gel, are injected into the skin with a needle. The filler has a dual effect: it fills in wrinkles and forms a structure that stimulates fibroblasts to create new collagen and elastin. Once injected into the skin, it is ***% resorbable in one year. Hyaluronic acid It exists naturally in all living organisms and is a component of the extracellular space. This acid is essential for the formation of collagen and the elastic fiber matrix and for maintaining the skin's hydration. Hyaluronic acid is injected at ...

4.2 Price summary

The following table summarizes the characteristics of non-surgical cosmetic procedures available on the UK market:

Source: ****

It is important to note that prices vary considerably depending on the medical facility, doctor or region.

5.1 Limited UK regulation

In the United Kingdom, training is not required for the right to administer non-surgical cosmetic treatments. Thus, anyone can now legally administer botulinum toxin. However, we have seen that these procedures often lead to complications. Organizations such as Save Face are dedicated to helping potential treatment recipients find sufficiently experienced caregivers.

In addition, the Joint Council for Cosmetic Practitioners proposed an action plan in **** to further regulate the industry's practices. The organization thus gives a status of these current regulations with the following remarks highligting the current lack of regulation:

No record of treatment providers in the UK No requirement to follow quality guidelines No monitoring of practice and compliance with safety standards

Having already restricted access to cosmetic procedures to minors, the UK government announced in February **** new measures to regulate non-surgical cosmetic procedures by way of introducing a license for these procedures (***). [***]

6.1 Segmentation

• Allergan plc (Abbvie)
• Ipsen
• Merz Pharmaceuticals
• Cynosure
• Alma Lasers