Medical Aesthetics Market Size

Medical Aesthetics Market size was valued at USD 17.6 billion in 2023 and is poised to grow from USD 19.73 billion in 2024 to USD 49.2 billion by 2032, growing at a CAGR of 12.1% during the forecast period (2025-2032).

The global medical aesthetics industry is experiencing significant transformation driven by the rising demand for minimally invasive cosmetic procedures, growing geriatric populations, and increasing consumer awareness around appearance enhancement. According to the International Society of Aesthetic Plastic Surgery (ISAPS), more than 14.9 million non-surgical aesthetic procedures were done globally in 2022, showing a stable yearly increase of around 10%. So, the combination of increased urbanization, rising disposable income, and a “prevention is better than cure” culture in developed and developing markets has also aided the industry’s growth into mass market acceptance. The U.S, Brazil, South Korea, and India, among others, are experiencing strong demand in this area for procedures such as Botox, dermal fillers, laser treatments, and body contouring.

Technological advances are also changing how treatment is delivered. For example, AbbVie’s Allergan Aesthetics announced in a 2023 investor presentation the achievement of hybrid product launches such as SkinVive by Juvederm, an injectible microdroplet hydrating product that “enhances the smoothness of the skin”. Treatment options that have shorter recovery times, such as Cynosure’s Potenza RF microneedling (2023), are more frequently employed to address acne scars and improve skin tone. They are marketed to younger consumers who are interested in “prejuvenation” – an anti-aging approach that starts early to prevent signs of aging.

However, there are market constraints for the industry, despite having multiple advantages. Some of these products have experienced delays in coming to market due to regulatory hurdles, being that Europe works under the MDR (medical device regulation). Even more, the high price of premium treatments prevents accessibility to them in poor regions. Reimbursement for cosmetic procedures is sparse or non-existent because they are considered elective procedures. On top of that, skepticism regarding negative effects, and the dwindling presence of skilled professionals in some geographies are also barriers to market penetration.

How is Energy-Based Device Innovation Transforming the Medical Aesthetics Market?

Energy-based devices, or EBDs, which include radiofrequency, ultrasound, and laser are one of the most impactful technologies to transform the medical aesthetics industry. These devices are changing the face of treatment in that they are safer, quicker and more effective to perform with less downtime, and thus more accepted by consumers, allowing a larger patient population to be treated. With the cultural transition toward more natural beauty standards and increasing receptiveness among younger consumers to the idea of preemptive aesthetic care, EBDs have essentially driven that change. Energy-based devices have found applications in, among other uses, skin tightening and wrinkle reduction as well as body contouring and cellulite treatment, and offer treatment that is highly adaptable to a broad range of skin types and conditions. This change from traditional forms of surgery to these newer technologies, is a great example of how the industry is moving towards a non-surgical, individualized aesthetic experience.

Cynosure debuted the Potenza RF microneedling system in several countries in 2023, offering both monopolar and bipolar RF, which facilitates even more collagen production. Likewise, in its annual report for 2022, Lumenis stated that revenue for its energy based aesthetic products grew 19% due to successful sales of its NuEra Tight RF body contouring device. Reflecting this consumer trend, as reported in ASDS 2023 report on cosmetic procedures, 43% of the total cosmetic procedures in 2022 were performed using energy-based technologies.

How is AI-Powered Imaging and Personalization Shaping the Future of Aesthetic Procedures?

Another game changer for the medical aesthetics market is the application of artificial intelligence in imaging, diagnostics, and treatment customization. The use of facial mapping technologies, predictive software, and virtual simulation technology allows the practitioner to provide evidence- based advice and make more precise treatment recommendations. These programs offer a simulation of results by processing facial symmetry, skin condition, and aging patterns, thus increasing patient confidence and decreasing resultant dissatisfaction. Plus, AI is also incorporated in the treatment devices, such as to monitor parameters and automatically adjust them, thus further increasing safety and efficacy. It decreases the error margin and considerably reduces both time of the procedure and time needed for follow-up. As aesthetic consumers increasingly become more tech-savvy, there is a growing desire for AI-driven, personalized experiences. Clinics and practitioners who have begun to incorporate these tools are benefiting from higher client retention as well as a more favorable competitive advantage, particularly in the North American/South Korea/ parts of Europe market where aesthetic standards and technological readiness is high.

For example, Allergan Aesthetics (AbbVie) has launched the Juvéderm Visualizer in 2023, a simulation tool that employs AI to allow patients to visualize expected filler results via 3D scanning of their own faces. Also, in 2022, Canfield Scientific augmented its VISIA Skin Analysis technology with artificial intelligence to aid dermatologists in the evaluation of skin age, texture, and pigmentation. In the U.S. According to the FDA, in 2023 more than 25 applications for marketing authorization of AI aesthetic imaging systems were received by the agency, which illustrates the growing interest in the technology and in its use in practice.