Medical Aesthetics Market Growth Continues to Shine in Healthcare Industry
PALM BEACH, Florida, November 20, 2017 /PRNewswire/ --
Medical aesthetics is a fusion of healthcare and beauty services to provide high-technology skin care that involves significant cosmetic change or enhancement. The treatments employed include injections of Botox and dermal facial fillers, body contouring, laser hair removal, chemical peels, many others. The global medical aesthetics market [https://www.researchandmarkets.com/reports/3978419/medical-aesthetics-market-forecast-to-2021#pos-0 ] is estimated to grow at a CAGR of 10.8% from 2016 to 2021, projected to reach USD 13.29 billion. The adoption of aesthetic procedures is rising across the globe due to the growing aging population, increasing awareness about cosmetic procedures, growing safety and efficacy of aesthetic procedures owing to technological advancements, and rising middle class population. A steady inclination towards minimally invasive and non-invasive aesthetic procedures, rising demand for aesthetic treatments among the male population, and rapid growth in number of cosmetic procedures are driving the growth for the industry. Active in the markets today include: Milestone Scientific Inc. (NYSE: MLSS), Allergen plc (NYSE: AGN), Valeant Pharmaceuticals International, Inc. (NYSE: VRX), Merck & Co. Inc. (NYSE: MRK), Pfizer Inc. (NYSE: PFE),
Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that deliver painless and precise injections, today announced plans for the commercial launch of its novel and proprietary cosmetic injection instrument for delivery of botulinum toxin (such as Botox(R) and Dysport(R)).
Key highlights of the new cosmetic instrument include:
- Improved needle placement with a comfortable stylus grip
- Precise dosing driven by an electronic motor
- Uses the same comfort speed technology that has made dental injections painless
- Efficient operation with an intuitive touch-screen interface
- Simple integrated electronic record-keeping capability without a costly electronic medical records system
- Operates wirelessly with high-capacity battery
Leslie Bernhard, Chairman and Interim CEO of Milestone Scientific, commented, "There is a large and growing market for botulinum toxin (such as Botox(R) and Dysport(R)) injections globally, with over 8.4 million botulinum toxin injections annually in the U.S. alone. Recognizing this opportunity, we set out to develop a product concept and conducted a cosmetic injection instrument feasibility study to determine professional interest in a new cosmetic injection system. Read this and more news for Milestone Scientific covered by SmallCapStocks.com at: https://www.smallcapstocks.com/mlss/ [https://www.smallcapstocks.com/mlss ]
"Milestone conducted an extensive survey of over 150 medical professionals, including both plastic surgeons and cosmetic dermatologists. The physicians surveyed conduct regular botulinum toxin injections and are decision makers regarding the purchase of equipment and devices for their practice. Based on the results of the study, which indicated dissatisfaction with the current syringe-based technique, these medical professionals indicated a strong desire for improvement in the ability to inject precise dosage units and to minimize patient discomfort.
"As a result, we proceeded with the development of a new cosmetic injection instrument that allows the clinician to inject accurate doses with the precision of a stylus pen that is designed for comfort and superior tactile feel. Each injection is verified with audible sound feedback confirming unit dose and each injection is documented with an electronic record," stated Ms. Bernhard.
Ms. Bernhard concluded, "I am pleased to report we have now completed the design process and manufactured a set of fully functional pre-production devices. We have also completed a series of multi-state human factors studies with targeted customers. Based on the positive outcome, we are moving forward aggressively towards the commercial launch of our cosmetic instrument, starting first in Europe. Shortly thereafter, we plan to launch the product in the U.S. and across Asia. The cosmetic market represents a sizable and potentially lucrative market. Moreover, most procedures are private pay and do not require reimbursement, which will help to further accelerate our commercialization timeline."
In other healthcare developments and market performances of note:
Allergen plc (NYSE: AGN) closed up slightly on Friday trading over 2.8 million by the market close. The company earlier this year received the US Food and Drug Administration (FDA) approval for the use of Botox for the temporary improvement of moderate-to-severe forehead lines. The latest approval makes the brand the first and only neurotoxin to be indicated for three facial treatment areas. It has already been approved for the treatment of "crow's feet" and glabellar lines.
Valeant Pharmaceuticals International, Inc. (NYSE: VRX) Developments: TroyGould advised Haitong International Zhonghua Finance Acquisition Fund I, L.P. (the "Fund") in its $190 million cash acquisition of the Obagi Medical Products business from Valeant Pharmaceuticals International, Inc. The Obagi line of premium skincare products are designed to help minimize the appearance of premature skin aging, skin damage, hyperpigmentation, acne, and sun damage and are primarily available through dermatologists, plastic surgeons, medical spas, and other skin care professionals. Valeant Pharmaceuticals closed up over 2% on Friday at $14.69 trading over 10.9 Million shares by the market close.
Merck & Co. Inc. (NYSE: MRK) also closed up slightly Friday with over 9.8 million shares traded on the day. Merck, known as MSD outside the United States and Canada, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending approval of PREVYMIS(TM) (letermovir) for prophylaxis of cytomegalovirus (CMV) reactivation and disease in adult CMV-seropositive recipients [R+] of an allogeneic haematopoietic stem cell transplant (HSCT). The CHMP positive opinion will be considered by the European Commission. If the CHMP opinion is affirmed, the European Commission will grant a centralized marketing authorization with unified labeling that is valid in the 28 countries of the European Union (EU), as well as European Economic Area members, Iceland, Liechtenstein and Norway. Merck anticipates that the European Commission decision will be adopted within approximately two months.
Pfizer Inc. (NYSE: PFE) recently announced that the U.S. Food and Drug Administration has approved a new indication expanding the use of SUTENT(R) (sunitinib malate) to include the adjuvant treatment of adult patients at high risk of recurrent renal cell carcinoma (RCC) following nephrectomy (surgical removal of the cancerous kidney). The approval was based on results from the S-TRAC trial that demonstrated a significant reduction in the risk of a disease-free survival (DFS) event (defined as the interval between randomization and tumor recurrence, or secondary primary cancer or death from any cause) for patients at high risk of RCC recurrence who received SUTENT compared to placebo in the adjuvant setting. SUTENT has been a standard of care for the treatment of advanced RCC since it was approved more than a decade ago, and is now the first approved adjuvant treatment option for certain patients at high risk of recurrent RCC - the most common type of kidney cancer. DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated nineteen hundred dollars for news coverage of the current press release issued by Milestone Scientific Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
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