Global Aesthetic Thread Market - Segmented by Type of Product, Indication, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global aesthetic thread market is expected to register a CAGR of 5.7% during the forecast period, 2018 to 2023. Aesthetic threads are medical sutures that are injected underneath the skin using a needle, to lift and rejuvenate the skin. Suspension threads are one variety of long cosmetic threads that have cones or barbs that pull sagging skin backwards when injected with a needle into the target area on the face. Rejuvenation threads are another variety that have less of a lifting mechanism, but stimulate natural collagen production when injected underneath the skin.
Increasing Preference for Minimally Invasive Surgeries (MIS)
Minimally invasive surgery (MIS) has evolved as a gold standard for the healthcare industry, for being an efficient and a low-risk surgical procedure. It is a safe, feasible, and patient-friendly method of performing a medical operation. Minimally invasive techniques satisfy patients' desire for a swift recovery and shorten the hospitalization period. The major benefits of minimally invasive surgical procedures are superior cosmetic result, reduction in post-operative pain, and fast recovery rates. Since the past decade and a half, minimally invasive surgery has been gaining ground at a rapid pace. With changing trends in the society, a patient tends to have high expectations from a plastic surgery and the recovery after that. Moreover, a thread-based face lift meets all these requirements, thus, is growing in popularity. A minimally invasive, thread-based face lift offers advantages, like retention of the functional anatomy of the face and minimization of the post-operative broadening of the malar area.
The above-mentioned differential advantages, offered by a minimally invasive surgery, are driving the growth of the global aesthetic thread market. Other factors, such as procedures that are less time consuming, are also driving the aesthetic thread market.
High Cost of Treatment
In the United States, the cost, associated with a thread lift procedure can vary anywhere between USD 1500 to 4500. These costs can vary on the basis of the scale and degree of the procedure, area/areas treated, and the surgeon’s expertise. As thread lifts (like most cosmetic procedures) are elective, most insurance carriers do not cover the cost.
A thread lift costs less than the conventional face lift surgery. In fact, a typical thread lift costs roughly half the price of a traditional face lift, depending on how many threads are being used during the procedure. However, what needs to be considered is that a thread lift is just a replacement procedure for people looking for a quick cosmetic fix. Moreover, thread lift’s effects do not last as long as that of a conventional face lift procedure. In the best scenarios, the anatomical changes, produced as a result of a face lift, last as long as 40 months, whereas, the same for a thread lift procedure last 18-20 months. Taking into the tenure of aesthetic effects into account, thread lift is a costly procedure, this, in addition to the fact that cosmetic procedures are difficult to reimburse.
High cost of treatment, involving threads for aesthetics, is restraining the global aesthetic thread market growth. Another factor, such as uncertain results, is also hindering the growth of the market.
Asia-Pacific Expected to Record High CAGR
The Asia-Pacific aesthetic thread market is expected to register high CAGR when compared to other regional markets, due to the booming cosmetic industry, which has become one of the most exciting fields for business in the region, especially China, in the recent years.
Key Developments in the Market: