USD 13.1 billion
Medical Aesthetics Market Size, Share, Growth Analysis, By Product(Facial Aesthetic Products, Cosmetics Implants, Skin Aesthetic Devices, Body Contouring, Hair Removal Devices, Tattoo Removal Devices, Others), Procedure(Surgical, Non-surgical), End-user, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG35B2082 |
Region:
Global |
Published Date: July, 2024
Pages:
263
|Tables:
146
|Figures:
78
Medical Aesthetics Market Insights
Global Medical Aesthetics Market size was valued at USD 13.1 billion in 2022 and is poised to grow from USD 14.4 billion in 2023 to USD 35.6 billion by 2031, growing at a CAGR of 10.1% in the forecast period (2024-2031).
The aesthetic market is witnessing a boom due to the wide range of products and services offered. This is due to the reason that there is continuously rising acceptance of cosmetic treatment methods would be society on the move with different sets of norms or priorities for instance, physical appearance has high priority. Hence, the growth of medical innovations provides individuals who might fear conventional cosmetic surgeries with a lot of hope which is driving the market. The aesthetic medical procedures legally perform the liposuction and breast augmentation, and offer the botox injections, fillers, laser peels, and hair removal therapy. More to that, it refers to beauty products like skincare, cosmetics, hair and other beauty products. Moreover, the increasing focus on physical appearance has increased the use of these invasive procedures. Furthermore, through the upsurge of social networking and social media influencers or celebrities, a whole new dimension of aesthetic promotion and enhancement products has been created for the younger people. The fashion industry is intended to serve people who aspire to enhance face appearance for self-esteem, societal acceptance or excellence. As technology industry progresses and awareness about self-care and personal grooming gets deeper, the demand for aesthetic treatments and products has continued to rise, and this is seen all over the world. Lifestyle changes and obesity among people are increasing and are affecting mostly the elderly people, resulting in increasing growth of the market over the forecast period. However, the rising awareness and demand for aesthetic beauty, which is expected to lead to rising demand for these procedures, are two major factors driving the market expansion. The minimally invasive nature of these procedures, the lowering of taboos surrounding such medical aesthetic procedures, and the rising disposable incomes, especially in emerging markets, are some of the factors that are anticipated to contribute to the significant growth of the market.
US Medical Aesthetics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Facial aesthetic products
Fastest Growth
Facial aesthetic products
Growth Rate
10.1% CAGR
Global Medical Aesthetics Market ($ Bn)
Country Share for North America Region (%)
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Medical Aesthetics Market Segmental Analysis
Global medical aesthetics market is segmented based on the Product, Procedure, End-user, and Region. Based on Product, the market is segmented into Facial Aesthetic Products (Botulinum Toxin, Dermal Fillers, Microdermabrasion Products, Chemicals Peels), Cosmetics Implants (Breast Implants {Silicone Breast Implants, Saline Breast Implants}, Gluteal Implants, Facial Implants), Skin Aesthetic Devices (Nonsurgical Skin Tightening Devices, Laser Skin Resurfacing Devices, Micro Needling Products, Light Therapy Devices), Body Contouring Devices (Nonsurgical Fat Reduction Devices, Cellulite Reduction Devices, Liposuctions Devices), Physician-dispensed Cosmeceuticals and Skin Lighteners, Hair Removal Devices (Laser Hair Removal Devices, IPL Hair Removal Devices), Tattoo Removal Devices, Thread Lift Products, Physician- Dispensed Eyelash Products, and Nail Treatment Laser Devices. Based on Procedure, the market is segmented into Surgical Procedures (Breast Augmentation, Rhinoplasty, Facelift and Body Lift, Others), Non-surgical Procedures (Anti-aging And Skin Rejuvenation, Tattoo and Scar Removal, Hair Removal, Lypolysis, and Others. Based on End-user, the market is segmented into Clinics, Hospitals, and Medicals Spas, Beauty Centers, and Home Care Settings. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Analysis by Product
The facial aesthetic products segment is the largest segment in the medical aesthetics market by product and is expected to grow at the highest CAGR from 2024 to 2031 owing to the growing popularity of facial aesthetic treatments, increasing spending power due to growing disposable income, and because of the elderly population across the globe. There is a growing adoption of the advanced tools which is enhancing precise diagnostics and the rising demand for improved sensitivity outsourcing the growth of the segment.
On the other hand, body contouring devices is the fastest growing segment in medical aesthetics market by product. due to the rising demand for non invasive body sculpting procedures, there is seen a rise in the growth after segment. Few procedures like cryolipolysis, radio frequency, and others are becoming popular as the target localized fat deposits and help in improving body shapes without surgeries. The rising desire for aesthetic body enhancements further contributes to the market growth. Additionally, the advancements in technologies help in enhancing the aesthetic appearance by providing hand pain free procedures, therefore contributing to the growth of the market.
Analysis by End-User
The clinics, hospitals, and medicals spas segment are the largest segment by end user in the medical aesthetics market. The rise in the use of automated advanced systems is driving the growth of the segment. These advanced systems help in the early detection of the disease. The growing awareness among the consumers also contributes to the growth. The rise in the digitalisation of the patient workflows and the growing adoption of the advanced digital systems in the clinics further contributes to the growth of the market by enhancing the quality of the patient care.
On the other hand, the home care segment in the medical aesthetics market is the fastest growing segment by end user. The advances in aesthetic devices and products such as hair removal devices, anti-aging treatments, and at home skin tightening devices are driving the segmental growth as these provide convenience at one’s home. The growing demand for the home use aesthetic technologies and the growing trend towards personalized self-care and beauty routines is further surging the market growth.
Global Medical Aesthetics Market By Product Type
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Medical Aesthetics Market Regional Insights
North America held the largest of the medical aesthetics market revenue share in 2023 and will likely retain the same during the forecast period due to the improved healthcare infrastructure, usage of cosmetic procedures, increasing skin disorders, availability of advanced technologies, and the availability of board-certified and professional cosmetic surgeons in the region. The US and Canada are the largest contributor to the regional market. The expansion of the applications within the healthcare sector is driving the regional growth. Furthermore, the rapid increase in the elderly population and the establishment of aesthetic imaging centres in the region contributes to the market growth.
On the other hand, Asia-Pacific is the fastest growing region in the medical aesthetics market and is anticipated to experience the highest CAGR during the forecast period due to the region's significant rise in the use of cosmetic procedures, which is being fuelled by factors such as the region's expanding middle class and rising disposable income, rising skin treatment awareness, aging populations, fading social stigma and taboos associated with these procedures, and the rising number of medical tourists in the region.
Global Medical Aesthetics Market By Region
- Largest
- Fastest
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Medical Aesthetics Market Dynamics
Medical Aesthetics Market Driver
Growing Focus on Preventative and Personalized Aesthetics
- While it is true that the cosmetic market worldwide is currently experiencing the massive shift towards proactive aesthetic procedures where people enrol into preventive treatments to preserve their youth instead of just doing so once they start seeing signs of ageing. A shift towards preventive self-care can be inferred here as a millennial approach to look the same age over the years. Moreover, individualized treatments designed as per one's special requirements and driving their inspiration from preferences have gained immense recognition recently. Personalizing treatments improve patient’s experience and forms a relationship between them and the spa. Due to this, customers keep coming back and hence, the need to provide diverse beauty positive practices helps in attracting and retaining clients.
Rising Disposable Income and Aging Population
- Factors like income growth, especially in developing markets, make people to invest in procedures, including cosmetic surgeries which boosts the market growth. Taking this into consideration, the massive aging of the human population is one of the most important factors for the adoption of the various procedures as more and more people strive for eternal youth. The demand of beauty procedures is accelerated when ageing passes thus, this transition fuels huge demand for aesthetic procedures to tone-up age-related concerns. The current urge of individuals to not only look good but also feel young is the reason why the aesthetic industry experiences a high demand for diverse kinds of aesthetic treatments which cater to aesthetic peculiarities, therefore driving the market.
Restraints
Stringent Regulatory Compliance
- The regulatory landscape for equipment, procedures and techniques to prevent or treat diseases is complicated and varied between countries, which is an issue that led to obstacles for innovative products to be introduced to the market and limits the market access for some of the providers. Addressing various regulatory regimes will be quite demanding, both in time, manpower and competence, almost affecting the healthcare delivery pillar of humanity in time of introducing innovative treatments or devices. Additionally, companies must comply with rigid regulatory policies, which lead to obstacles in small-scale providers and manufacturing competitors, thereby limiting them to compete on equal terms. Because of this, regulatory stability can be a problem itself by slowing down technological innovation rate and denying some yet advanced therapeutic procedures to be used in several regions.
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Medical Aesthetics Market Competitive Landscape
Global medical aesthetics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Medical Aesthetics Market Top Player's Company Profiles
- Lutronic (South Korea)
- AbbVie Inc. (US)
- Cynosure (US)
- Vennus Concept (Canada)
- Evolus Inc. (US)
- Galderma (Switzerland)
- Lumenis (Israel)
- Medical Device Business Services, Inc. (US)
- Solta Medical (US)
- Cutera (US)
- Syneron Candela (US)
- Alma Laser (Israel)
- Eclipse (Belgium)
- Cynosure (US)
- Merz Pharma (Germany)
- Allergan Inc. (Ireland)
- Sisram Medical Ltd (Israel)
- BTL Group of Companies (Switzerland)
- Zimmer Biomet (Poland)
- Fotona (US)
Medical Aesthetics Market Recent Developments
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In February 2023, Sinclair Pharma a fully owned subsidiary of Huadong Medicine Corporation Limited presents Sculpt&Shape. An innovative RotateRF technology device for full body contouring and face rejuvenation.
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In January 2023, Allergan Aesthetics, an AbbVie company, launched of SkinMedica Even & Correct Collection. Which are clinically proven and formulated to deliver targeted results, these three products work separately and together to even skin tone and reduce the appearance of hyperpigmentation and dark spots on the face.
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In January 2022, Sientra declared its acquisition of novel fat grafting technology from Auragen Aesthetics, LLC, which Accelerates Sientra’s vision for shaping the art & science of plastic surgery beyond breast products to be a key player in the medical aesthetics market.
Medical Aesthetics Key Market Trends
- Increasing Popularity of the Elective Aesthetic Procedures: Nonsurgical facial rejuvenation using botulinum toxin and hyaluronic acid is getting popular in different regions that are further supporting the market growth. People with darker skin types frequently look into alternative medical procedures that might help them achieve a fairer complexion or a lighter skin tone. The majority of people in India have darker skin tones. Consequently, there is always a demand for this procedure. In conclusion, glutathione has seen a significant increase in popularity worldwide after being hailed for decades in countries like the Republic of the Philippines as a "magical skin whitening" molecule. Despite all the controversy, glutathione therapy for skin whitening is increasingly popular in India, where the majority of aesthetic clinics now offer IV-based glutathione therapy.
Medical Aesthetics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global medical aesthetics market analysis, the market is growing due to the increasing prevalence of skin disorders and others, Due to major changes in technologies in terms of advancement and investments in research and development, plastic surgeries, breast implants, and others, the market will significantly rise during the forecast period. The facial aesthetic product segment is having the highest share where body is controlling devices segment are growing quickly. North America is currently leading the global market where does Asia Pacific is growing at a quick pace. One major trend is the increased popularity of the advanced aesthetic procedures. Moreover, due to the stringent regulations manufacturers are focussing on developing safer and more effective anti-aging treatments which can directly impact consumers, resulting in boosting market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 13.1 billion |
| Market size value in 2031 | USD 35.6 billion |
| Growth Rate | 10.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Aesthetics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Aesthetics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Aesthetics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Aesthetics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Aesthetics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Aesthetics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Medical Aesthetics Market Report Snapshots
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