Keeping a low profile for years, brands like Aayna clinic in Delhi, Yavana clinic in Mumbai and similar others have been enjoying their single outlet presence for couple of years. Even after gaining adequate attention for their premium quality services, these brands are anxious of flexing arms beyond their current horizon.
What’s the pull back?
Often, Indian aestheticians complain of lack of qualified and skilled professionals available on the ground to maintain the replica clinics or address the client’s query as precisely as the original one do.
“The reason why I have a single outlet is that Aayna is a beauty couture kind of place. There is so much happening under one roof at Aayna that it is hard to replicate. And, if it’s been done, again, it has to be done with the same precision, the same passion and the same quality that went into making Aayna what it is today,” Dr Simal Soin, Medical Director, Aayna Clinic, New Delhi.
Expecting an elaborate growth of 55 per cent in the current fiscal, Aayna’s year-on-year progress is significant in the national capital market. The chic aesthetic brand is the darling of elite consumers, especially women across the city, however, they find it difficult to attend repeat procedures as and when required.
“Flying back and forth to Delhi from Mumbai or Bengaluru is difficult. I am a business woman and my company is based in Pune. Whenever I visit Delhi for personal or professional purpose, I get the required services from Aayna. However, it would be great if the brand extends its offerings in at least big cities like Mumbai, Bengaluru or Chennai,” said a loyal consumer of Aayna, who opted not to disclose her identity here.
Similarly, Yavana clinic in Mumbai has created niche in the Mumbai market with its standalone clinic in span of 10 years. Still, it does not incur elaborate revenue. The brand sees high footfall and continuous demand from their clients to increase its physical presence.
“Yavana Aesthetic Clinic is currently a standalone aesthetic clinic in Mulund (West), Mumbai. However, looking at the increased flow of patients and growing popularity amongst patients from all corners of Mumbai, Yavana is poised to expand its presence in other areas of Mumbai. Plans are underway,” said Dr. Madhuri Agarwal, Founder and Medical Director, Yavana Asthetics Clinic.
Using and implementing high end internationally certified exquisite technology has placed Yavana in the forefront of aesthetics care in India.
Room for high margin
The current medical aesthetic market is worth $52,405 million for both service and product revenue, which over the next five years will grow at 5.5 per cent CAGR and is expected to hit $69,786 million in 2021. The invasive aesthetic procedures are set to grow at a CAGR of 4.3 per cent, while non-invasive procedures will grow at a CAGR of 4.5 per cent over the coming five years.
Cosmetic surgery products generated $7,824.0 million in 2015 and have the potential to reach $13,934.0 million in 2021.
Highly influenced with the word-of-mouth-publicity, somewhere down the line, the standalone aesthetics clinics of the country are losing perspective premium consumers due to lack of significant presence. And, the only way to fetch these potential clients is to increase the market presence.
“Technology has evolved to deliver great results; Built-in safety measures and user friendliness is encouraging more doctors and spas to embark on these machines to treat their clients. You must indulge in activities that build your credibility in the market first. People have to trust your expertise and your safety protocols to be able to start treatments with you,” suggested a United States Board Certified Cosmetologist, Roopa Ambekar who is the Founder and Managing Director of Uber Medspa & Salon.
Two-times national award winner, Ambekar, is the Dean of Paul Mitchell Cosmetology School, Washington DC; Education Director Graham Webb International, Washington DC; Master Trainer, Aveda Institute, Philadelphia and Senior Style Consultant Le Shoppe, Virginia. Recently, the industry expert has launched her education institute - the Roopa Ambekar International Institute of Cosmetology (RAIIC)
Strengthen the loose ends
Factors such as the increasing inclination towards minimally invasive and non-invasive aesthetic procedures, technological advancements in energy based devices and rapid growth in number of cosmetic procedures are driving the growth of the global medical aesthetics market.
However, still certain challenges remain as to how much training is enough really in safety protocols when using aesthetic laser machines and other anti-aging products. It’s the responsibility of the well trained and experienced aestheticians to increase their market presence and ensure adequate training of not just the distributors or sellers of products and equipment, but also to train the product manufacturers.
To take the experience to the next level, continuous training in med aesthetics machines, latest technologies and skill updating is essential.
The improved industry standards will surely give a ray of hope to consumers who look for international level of expertise in India and end up getting disappointed due to lack availability of resources.
Technology is slowly and gradually gripping the roots of everyday life. Our dependence on technology especially in our day to day life has made technology stronger, which is why one can witness the penetration of technology in almost every industry possible on the face of planet, Earth.
The "Global Medical Aesthetics Industry: Injectables, Energy-Based Devices, Cosmeceuticals, Cosmetic Surgery, Facial Aesthetics, Implants, Cosmetic Tourism. Market Analysis & Forecast to 2022" report analysis indicates that the current medical aesthetic industry is worth $53.3 billion for both service and product revenue. Over the next five years a CAGR of 5.5% is expected and the market will hit $73.6 billion in 2022.
Currently, invasive aesthetic procedures generate revenues of over $27.8 billion, annually. The analysis indicates that by 2022, invasive aesthetic procedures will grow at a CAGR of 4.3%. Non-invasive procedures generate approximately $16.7 billion per annum and will grow at a CAGR of 4.5% over the coming five years. Cosmetic surgery products generated $8.8 billion in 2016 and have the potential to reach $15.3 billion in 2022.
Here are some of the reasons as why aesthetics industry has successfully created a revolution in the Indian wellness market:
Medical Benefits:
The medical aesthetic surgeries have proved to be boon for the medical benefits. Earlier when people were unable to remove deadly carcinogenic cells, tumors and overgrown body features, or when the procedures used were painful, people were scared of using it.
Now when the technological advances have made these procedures painless, wearable and affordable, which is one of the reasons why a lot of Indians have accepted the revolution wholeheartedly.
Breaking Myths:
When the aesthetics and laser technology was new, people were scared of the side effects. Now after seeing many celebrities using it and leading a normal life, the myth has been busted.
“The awareness among people about laser technology is increasing. There was a phase and time in India when people were scared of the side-effects of laser therapy of any kinds, be it for cancer, eyes, hair removal or hair loss. But, all those things have changed a lot. The kind of technology which is developed in different fields, I believe that the future of laser treatment is looking so much better,” said Sanket Shah, CEO and Owner, Advance Hair Studio Indian Subcontinent and Middle Eastern Region.
Awareness:
“The driving factors have increased awareness and made options available for permanent self-beautification. Celebrities and socialite openness about procedures, they have done, has increased desires of women, men to look young, attractive and fit. The rising social pressures to look perfect and high disposable income have added into the factors as well,” suggests American Celebrity Dermatologist, Dr Kiran Lohia, Medical Director and MD at Lumiere Dermatology, New Delhi.
When people witnessed surprising transformation in the looks of celebrities, it opened bought the confidence of people on Indian aestheticians.
Fascination:
We are all obsessed with perfect skin tone, perfect body features and everything perfect from tip of the hair to the end of the toe; more or less what we see on magazine covers or television screen and this obsession is where the aesthetic market grows.
This fascination has made people depend upon the aesthetic surgeons, which is why medical spas and clinics are thriving on this fascination of people.
Everyone wants to have a problem free life. Health and well-being mean a lot since it is just because of good health that a person is able to accomplish important tasks in life. Laser treatments have made an easy way for consumers to tackle any beauty and health woes. The aesthetics market is already booming with so many latest additions of technology in it and laser treatment is one of them. These treatments make good use of technology and knowledge to ease out the problems faced by the consumers without leaving behind any scars or inflicting any pain.
The Market
The laser technology market is a growing one. Laser technologies have provided a big area to the companies to venture into. Everyone deserves to look beautiful and healthy. Consumers want to be free of their problems and laser treatments in various categories cater to the needs of the consumers. The market is expected to be valued at USD 15.38 Billion by 2022. The grow will happen at a CAGR of 5.2% between 2017 and 2022.
The Factors
Various factors have contributed to the growth of the laser treatment industry. The growing number of options which are available to the consumers in terms of brands to choose from is increasing which is also expanding the market of laser treatments. The growing demand from the healthcare industry and shift toward the production of nano and micro devices has given a push to the laser treatment market. Some other factors like the improvement in the quality of services and enhanced performance over use of traditional practices has led the market to explore a wider area and achieve success. The increasing awareness about laser treatments and the need to have the best physical appearance have also added to the rising demand for laser treatments.
The Varieties
The varieties in the medical aesthetics market have helped boost the industry. Invasive and non-invasive techniques have given consumers to choose the type of treatments that suit their need. The various healthcare segments like aesthetics, surgical, ophthalmic, and dental and many others use laser treatments as the treatments do not leave any scars behind and with the latest inventions; they have become painless and effortless to do. Laser treatments are being used in every other area and for curing every possible beauty and medical issues.
Key Players
The competition is high in every industry. The markets are full of competitors fighting for the top position. Various brands that were already in the laser treatment business have made a good name and new brands have also joined in the industry. Some of the popular names in the laser treatment market are Cutera, Cynosure, Topcon, Bausch and Lomb, Alma Lasers, CoolTouch, Ellipse, Fotana and many others. These brands deal in various categories which involve laser treatments like skin, eyes, ears, hair and dental.
The Future
The future of laser treatments in India seems good as consumers have started turning towards laser treatments. Various medical and cosmetic needs of the consumers have been tackled through laser treatments. Not only skin but eyes, ears, dental and hair problems have solutions in the laser treatments market. All these categories are also doing well as consumers are not only adapting to them for cosmetic needs but also medical as the technology is being utilised for curing consumers. The brands in various categories have a huge area to explore and with the innovation of new methods and equipment, the process of laser treatments is becoming easier and painless. This has contributed to the increasing interest of consumers in the treatments and has invested in more revenue to the industry.
According to Dr Goran, Medstar Healthcare, Dubai, obsession with a youthful appearance has become commonplace in modern society and has resulted in an upswing in cosmetic procedures trying to reverse the ageing process. The change in the patient demographic is greatly attributed to media attention as well.
Conclusion
The laser treatments market is wide and is expanded into many categories. Technology has provided the industry with various latest inventions and the convenience that comes with it. Aesthetics is a large market and opportunities in it are innumerable. With the entry of new brands into the laser treatment s market, the industry is growing and this is giving way to success and more possibilities of new trends. The laser treatment industry has grown in many ways and is expected to go on further as it is venturing into many other areas and providing consumers with what they desire.
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