The medical aesthetics market was valued at USD 10.2 billion in 2021 and it is anticipated to grow further up to USD 32.4 billion by 2031 at a CAGR of 12.3% during the forecast period (2022-2031).
The medical aesthetic is used to treat and improve the aesthetic appearance of a person by treating various conditions, like skin laxity, excessive fat, cellulite, scars, moles, wrinkles, unwanted hair, liver spots, spider veins, and skin discoloration. Conventionally, it comprises dermatology, oral & maxillofacial surgery, reconstructive surgery, and plastic surgery. Aesthetic medicine comprises surgical & non-surgical procedures and a combination of both can be used to enhance an individual’s physical appearance.
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Market Drivers
Growing adoption of minimally invasive and non-invasive aesthetic procedures
There has been a significant increase in the inclination for minimally invasive and non-invasive aesthetic procedures over traditional surgical procedures in the past decade. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, like fewer pain, minimized scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures. As per the International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall increase of 5.4% in the number of plastic and cosmetic procedures during 2017 and 2018.
Market Opportunities
Growing demand from emerging markets
Emerging countries like China, Brazil, Mexico, and India offer significant opportunities for players operating in the medical aesthetics market. The demand for medical aesthetic devices in these countries is rising owing to rapid growth in medical tourism, the growing adult (aged 20 and above) population, rising disposable incomes, and increasing awareness about aesthetic specialties. The presence of a greater number of surgeons in these emerging countries is also contributing to the growth of the medical aesthetics market.
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Market Segments
By Product
- Facial Aesthetic Products
- Dermal Fillers
- Botulinum Toxin
- Microdermabrasion
- Chemical Peels
Market Players of the Global Medical Aesthetic Market
The key players in the global medical aesthetic market are Allergan-AbbVie, Alma Lasers, Ltd., Anika Therapeutics, Cutera, Inc., Cynosure, El.En. S.p.A., Fotona d.o.o., Galderma, Johnson & Johnson, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., SIENTRA, INC., HUADONG MEDICINE CO. LTD. and BAUSCH HEALTH COMPANY, INC. among others.
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Reasons to buy Medical Aesthetics Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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