By: GBI Research
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The global market for medical aesthetic devices is forecast to reach $3.5 billion in 2017 at a CAGR of 7%. The growth is primarily driven by factors such as competition between the non-core and core physicians that have reduced the overall cost of the aesthetic procedures and the inception of minimally invasive and non-invasive aesthetic procedures. The significant growth of medical aesthetic devices in 2010 is led by the recovery of some of the developed economies after the slowdown experienced in 2009 due to the recession. The market is on an upward trend, due to an increasing desire to look youthful. Lack of reimbursements for aesthetic devices is perceived as a major drawback as this can have a significant effect on the overall growth.
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In the US, silicone breast implants are forecast to contribute 98% towards the overall breast implants market in 2016, an increase from the current contribution of 85%. The US silicone breast implants market was valued at $316m in 2009 and is forecast to reach $657.6m in 2016 with a CAGR of 11%. Patients prefer silicone...