Medical Aesthetics Market - Distribution by Type of Product and / or Device Offered (Botox, Dermal Fillers, Chemical Peels, Body Contouring, Gluteal Implants, Hair Removal, Breast Implants and Other Products and / or Devices), Type of Procedure (Non Invasive, Minimally Invasive and Invasive), End User (Hospitals, Clinics / Med Spas and Dermatology / Cosmetology Centers, and Other end users), Gender (Male and Female), Distribution Channel (Direct Distribution and Indirect Distribution), and Key Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America): Industry Trends and Global Forecasts
The medical aesthetics market is expected to reach USD 32 billion by 2023 anticipated to grow at a CAGR of 9.6% during the forecast period 2023-2035.
The demand for medical aesthetic solutions has surged in recent years due to various factors, including the desire to maintain a youthful appearance, the influence of social media, technological advancements, celebrity endorsements, and the support of beauticians and medical professionals. The COVID-19 pandemic has also contributed significantly to the increased demand for aesthetic treatments. According to the American Academy of Facial Plastic and Reconstructive Surgery, the pandemic has led to a 10% increase in the number of cosmetic surgeries. Medical aesthetics is a well-established branch of modern medicine that primarily focuses on enhancing an individual's cosmetic appearance without clinical surgery, primarily for anti-aging purposes, such as reducing fine lines, wrinkles, and skin rejuvenation. Additionally, these procedures can help reduce excess fat, cellulite, unwanted hair, and spider veins. According to a study by the International Society of Aesthetic Plastic Surgery (ISAPS), over 15 million invasive and 19 million non-invasive aesthetic procedures were performed globally in 2022, with nearly 90% of the clientele being women, although these procedures are also gaining popularity among men. The global medical aesthetics market is expected to grow at a CAGR of 10.41% from 2023 to 2032, primarily driven by the increasing demand for non-invasive cosmetic procedures, technological advancements, and a growing aging population. The rise in the male aesthetic market is evident, with more men opting for aesthetic and cosmetic treatments, such as rhinoplasty, eyelid surgery, and liposuction. The COVID-19 pandemic has significantly impacted the medical aesthetics market, with reduced discretionary spending, a shift in consumer priorities, and reduced disposable income affecting the demand for medical aesthetics. However, medical aesthetic practitioners are adapting their marketing strategies, offering competitive pricing, and emphasizing the long-term benefits of aesthetic interventions to attract and retain customers.
The increasing popularity and high adoption rates of these procedures has led medical aesthetics companies to develop medical aesthetics products and devices focusing on non-surgical or minimally invasive solutions. These procedures usually do not require a full-on surgical procedure, resulting in less pain, less discomfort, less risks and shorter hospital stays, and long-term results. Some of the most popular minimally invasive procedures include botulinum toxin, aesthetic fillers, and body contouring devices used to tighten the skin, reduce fat, and reduce cellulite. It is important to note that the advantages of aesthetic procedures go beyond cosmetic appearance, as they can also help with other commonly reported healthcare issues. For example, botulinum toxin can help to reduce sweating, migraines, and other conditions.
Medical aesthetic treatments can be carried out at medical aesthetics clinics as well as at a medical spa by various medical professionals such as dermatologist, plastic surgeon, doctor, nurse practitioner, registered nurse and aesthetician. Interestingly, more than 70 percent of the current market for medical aesthetics is concentrated in hospitals, clinics & medical spas. South Korea, which is the cosmetic surgery capital of the world, has the highest number of cosmetic surgeries per capita in the world. This is due to the well-established cosmetic surgery infrastructure and experienced medical professionals that promote aesthetics medical tourism in South Korea. However, there is a concern that medical aesthetic treatments may violate the regulatory guidelines by some medical professionals & medical aesthetics companies which may lead to side effects. Hence, it is very important that the patient undergoes treatment by the licensed medical professional with certified aesthetic devices in order to avoid any possible risks & complications. Overcoming these challenges and meeting the growing demand for medical aesthetics procedures, the market of medical aesthetics companies is expected to experience significant growth over the next few years.
Report Coverage
The report comprehensively examines the medical aesthetics market across various parameters, including type of product and / or device offered, type of procedure, end user, gender, distribution channel, and key geographical regions.
It thoroughly analyzes market influences such as drivers, restraints, opportunities, and challenges, while evaluating competitive landscapes for top players. Forecasts are provided for segment revenues across major regions.
This report covers the evolution of medical aesthetics, types, application areas, benefits over traditional beauty treatments, and side effects. Further, it also features key growth drivers, emerging technologies, key challenges, and future opportunities.
A detailed analysis of medical aesthetics developers covers aspects such as establishment year, company size, headquarters, type of offering (product and / or device), type of products and / or devices offered, application area, type of procedure and end user.
The report presents comprehensive profiles of leading medical aesthetics developers, detailing company overviews, financial information (where available), offered medical aesthetic procedures, recent developments, and future outlooks.
Further, the report evaluates medical aesthetics company competitiveness, considering supplier strength in terms of type of offering, type of product and / or device offered and type of procedure, and number of end users served.
Examination of collaborations and partnerships formed by players in medical aesthetics market since 2018 encompassing areas such as merger and acquisition, distribution, commercialization, licensing, supply, product development, product and technology integration and manufacturing agreements.
Analysis of funding and investments in medical aesthetics market from 2018 to 2023 covers funding timelines, types, key players, and primary investors based on investment amounts and funding instances.
Key Market Companies
ADSS
Allergan Aesthetics
Astiland, Beijing Kes Biological Technology
BTL Aesthetics
Candela Medical
Classys
Croma Pharma
Cynosure
Daeyang Medical
Establishment Labs
Galderma
Guangzhou Itech Aesthetics
IBSA
Lumenis
Lutronic
MedicalZone
Mentor
Sanhe Medical
Shanghai Haohai Biological Technology
Sinclair Pharma
Sincoheren
Skin Tech Pharma
Wontech
Zesay Beauty