Rising adoption of minimally invasive and non-invasive treatment is a significant factor driving market revenue growth
The global aesthetic medicine market size is expected to reach USD 149.06 Billion in 2030 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Reports and Data. Increasing inclination toward enhancing facial and bodily aesthetic appearance along with advancements in surgical as well as non-surgical aesthetic treatments is driving aesthetic medicine market revenue growth.
Aesthetic medicine is an emerging field t that focuses on altering cosmetic appearance through the treatment of conditions including scars, skin laxity, wrinkles, moles, liver spots, excess fat, cellulite, unwanted hair, skin discoloration, and spider veins among others. Rising accessibility to advanced aesthetic enhancing procedures that are effective and minimally invasive are contributing to the overall market revenue growth. Moreover, increase in demand for non-invasive cosmetic surgeries, growing incidences of accidents and trauma cases, increasing prevalence of congenital face and tooth abnormalities, and technological innovations is fueling the market revenue growth.
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Less pain, faster outcomes, and lower costs are few factors contributing to demand for non-invasive procedures which is, in turn, driving the overall aesthetic medicine market revenue share. Botox injections, soft tissue fillers, and chemical peels are some of the popular non-invasive procedures.
However, high cost of aesthetic treatment, low reimbursements, and risk of malfunctions associated with implants are major factors that hamper market growth.
Growth of medical tourism, increase in preference for a better quality of life, and rise in popularity of celebrities opting for surgeries to look more aesthetically appealing are expected to provide numerous growth opportunities to the market.
Some Key Highlights From the Report
- In December 2021, Allergen Aesthetics, a part of AbbVie, acquired a medical technology company, Soliton, Inc., a medical technology manufacturer in Houston, Texas. This acquisition will strengthen the market’s portfolio of non-invasive body contouring treatments.
- Implant segment is expected to register a fast growth rate during the forecast period owing to increasing patient demand for facial aesthetic treatments, increasing disposable income and spending capabilities, and rising geriatric population across the globe. Aesthetic implants are the devices intended to enhance the physical appearance and improve their image. Implantation is usually performed for cosmetic purposes as well as to rectify the deformed shape of the organ.
- Hospitals & clinics segment accounted for a significantly large revenue share in 2021. Availability of sophisticated professional devices, strict legislative guidelines for usage, and availability of skilled professionals are some factors responsible for growth of this segment.
- Non-surgical segment accounted for a significantly large revenue share in 2021. Non-surgical cosmetic procedures are non-invasive and aim at improving the physical appearance and satisfaction of the patient. The skin is not cut during the procedure. However, these procedures not only focus on the surface; they use devices that activate the skin’s deep layers to stimulate changes.
- Market in North America accounted for largest revenue share in 2021. This can be attributed to the strong presence of leading medical device manufacturers. North America is expected to continue to account for largest revenue share throughout the forecast period owing to higher purchasing power of the consumers, an increased emphasis on innovation, and growing number of aesthetic companies operating out of the US. Moreover, an increase in the geriatric population and a high number of consumers looking for ways to delay or reverse signs of aging are other factors driving the market growth in North America.
- Major participants in global aesthetic medicine market include AbbVie Inc., Galderma, Alma Lasers, Cynosure, Johnson & Johnson Private Limited, Lumenis Be Ltd., Solta Medical, Candela Medical, Hologic, Inc., and Dentsply Sirona.
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For the purpose of this report, Reports and Data has segmented aesthetic medicine market based on product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2019–2030)
- Energy-based Devices
- Aesthetic Laser Devices
- Body Contouring and Skin Tightening Devices
- Microdermabrasion Devices
- Ultrasound Devices
- Dental Implants
- Breast Implants
- Facial Implants
- Anti-Wrinkle Products
- Botulinum Toxin/BOTOX
- Dermal Fillers
- Chemical Peel
Application Outlook (Revenue, USD Billion; 2019–2030)
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Medical Spas & Beauty Centers
- Hospitals & Clinics
- Home Use
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Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2019–2020) and forecast (2021–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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