by Market Overview:
The global Aesthetic Thread Market is estimated to be valued at US$ 129.5 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Aesthetic thread lifts are minimally invasive non-surgical procedures that use implanted threads to lift and contour skin on face, neck and body. The threads are made of polydioxanone (PDO) or poly-L-lactic acid (PLLA), which are gradually absorbed by the body. Compared to surgical face lifts, thread lifts have minimal downtime and fewer risks associated with anesthesia and wound healing. Thread lifts are increasingly being preferred for lifting eyebrow, cheeks and jowls. Growing preference for minimally invasive cosmetic procedures and rising awareness about potential benefits of aesthetic thread lifts are majorly driving the market growth.
Market key trends:
Growing demand among millennials: There has been rise in demand for aesthetic procedures among millennials owing to rising focus on appearance. Millennials prefer minimally invasive procedures like thread lifts as they offer natural looking results and quick recovery time. This trend is a key growth driver for aesthetic thread market.
Introduction of novel thread lifting techniques: Players in the market are focused on developing novel thread lifting techniques and threads to provide more advanced lifting and skin tightening solutions. For instance, PT Qestis Medika Lestari recently launched Turbo Thread Lift technique that claims to provide enhanced lifting of sagging skin with reduced discomfort and longer lasting effects compared to conventional thread lifts. Such innovations are supporting expanded applications of aesthetic threads.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant capital investment is required to enter this specialized medical thread market. However, the market presents opportunity for growth.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are few established key players dominating the market. However, the availability of alternative treatments provides some bargaining power to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitutes and absence of differentiation in raw materials. Suppliers also do not have significant influence over pricing.
Threat of new substitutes: The threat of substitutes is moderate as there are a few alternative non-surgical aesthetic procedures that serve similar functions. However, threads have established therapeutic benefits over other alternatives.
Competitive rivalry: High as the market is fragmented with presence of multiple regional and international players competing on product quality and innovation.
Key Takeaways
The Global Aesthetic Thread Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing demand for minimally invasive aesthetic procedures.
Regional analysis: North America dominates the market accounting for the largest share, followed by Europe. Asia Pacific exhibits high potential for growth and is expected to be the fastest growing market during the forecast period. Increasing medical tourism and rising aesthetic awareness drive the market in the region.
Key players: Key players operating in the aesthetic thread market are Menarini Group, N-Finders Co. Ltd., 1st SurgiConcept, River Aesthetics, Aesthetic Experts Lab, Metro Korea Co. Ltd., Healux Corporation, Croma Pharma GmbH, Aptos International Ltd., and Sinclair Pharma (Huadong Medicine CO., LTD.), among others. Players compete based on product quality, innovation, and geographic expansion strategies.
