Allergan is a company that boasts a deep portfolio of pipeline products covering the therapeutic areas of eye care, gastrointestinal, medical aesthetics, and women’s health. The majority of these products are for applications in the pharmaceutical sector.
One of the strategies Allergan has adopted is to acquire companies that have complementary product portfolios. In 2017, the company completed the acquisition of Keller Medical, Zeltiq Aesthetics, and LifeCell Corporation.
Recently, the company has been facing challenges related to patents on some of its dry eye drugs. Further rulings against the company’s favour could affect Allergan’s market revenues from drugs related to these patents.
However, in such a competitive environment, the company’s performance in the medical aesthetics space is definitely hopeful. In 2017, the medical aesthetics portfolio of the company accounted for approximately 36% of net revenue, nearly equal to its eye care portfolio. Revenues from body contouring systems and accessories contributed almost 10.5% of this portfolio; facial aesthetics accounted for more than half of the revenue from the medical aesthetics portfolio.
In December 2017, the CoolSculpting system received FDA clearance for use in improving the appearance of lax tissue in double chins. This will mean higher patient numbers using these systems.
The aesthetic lasers and energy devices market is expected to grow at a steady rate in the next few years, primarily driven by increasing demand for aesthetic procedures. Among the different segments, the non-invasive body contouring devices market is expected to grow the fastest.
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According to GlobalData’s pipeline products database for medical devices, around 30% of pipeline products within the aesthetic lasers and energy devices market were in the approval process, for the time period between January 2017 and February 2018. An increasing number of new products coupled with rising consumer awareness of these treatment options are expected to be key factors in the growth of this lucrative market.