Global Aesthetic Services Market to Reach $23.3 Billion by 2026 | News

SAN FRANCISCO, March 24, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Aesthetic Services – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 9; Released: February 2022

Executive Engagements: 498

Companies: 76 – Players covered include Advanced Dermatology and Cosmetic Surgery; Allergan plc; Azul Cosmetic Surgery and Medical Spa; GC Aesthetics; Cynosure Inc.; DC Derm Docs; Rousso Facial Plastic Surgery; Human Med AG; Lumentis Ltd.; Marina Plastic Surgery; Mirror Mirror Beauty Boutique; Quatela Center for Plastic Surgery; Riverchase Dermatology and Cosmetic Surgery; Saltz Plastic Surgery; Southwest Plastic Surgery; The Ottawa Skin Clinic and Others.

Coverage: All major geographies and key segments

Segments: Procedure (Surgical, Non-Surgical); Service Type (Breast Augmentation, Liposuction, Dermal Filler & Botox Injection, Body Contouring & Cellulite Treatment, Laser Hair Removal, Chemical Peel, Other Service Types); End-Use (Hospitals, Dermatology Clinics & Cosmetic Centers, Ambulatory Surgery Centers)

Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Rest of World.

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ABSTRACT-

Global Aesthetic Services Market to Reach $23.3 Billion by 2026

Aesthetic services refer to practices which focus on improving the appearance of individuals through cosmetic treatments. These services include the treatment of scars, skin pigmentation correction, wrinkles, acne, moles, excessive fat, unwanted hair, psoriasis, eczema and skin discoloration among others. The growing desire of people to retain youthful appearance constitutes a major demand driver for a wide range of aesthetic services. Growing wealth of citizens and rising pressure to maintain physical appearance in a social media dominated world are prompting individuals to opt for various surgical and non-surgical aesthetic treatment services. Aesthetic services are increasingly finding appeal and usage across a vast number of areas such as skin pigmentation correction, scar treatment, acne treatment, psoriasis treatment, and eczema treatment. The rise in aging population has significantly increased the demand for anti-aging services. The growing acceptance of cosmetic procedures in many cultures as an enhancement or extension of makeup has normalized its use for everyone from young teens to older adults looking for anti-aging solutions. In addition to the growing need to look attractive, demand for cosmetic procedures is mainly driven by the outcomes of a stressful lifestyle such as early aging, hair loss and obesity. Strong R&D activity in this field has increased overall knowledge as well as spurred the development of bioengineered products specifically designed to treat naturally occurring skin imperfections or scars caused by acne, wounds and burns.

Amid the COVID-19 crisis, the global market for Aesthetic Services estimated at US$18.1 Billion in the year 2022, is projected to reach a revised size of US$23.3 Billion by 2026, growing at a CAGR of 6.2% over the analysis period. Surgical, one of the segments analyzed in the report, is projected to record 5.6% CAGR and reach US$14.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Surgical segment is readjusted to a revised 7% CAGR for the next 7-year period. Reconstructive surgery, cosmetic surgery, and plastic surgery are a part of surgical aesthetic procedures. Growth in the surgical segment is being driven by growing demand for breast augmentation. The ability to provide dramatic benefits without surgery has augmented the demand for non-surgical cosmetic procedures.

The U.S. Market is Estimated at $6.4 Billion in 2022, While China is Forecast to Reach $2.2 Billion by 2026

The Aesthetic Services market in the U.S. is estimated at US$6.4 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2026 trailing a CAGR of 8.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5% CAGR. The US is the dominant market and growth is being driven by increasing focus on improving physical appearance, rising disposable incomes of people, and the subsequent rise in demand for cosmetic procedures. Rising popularity of non-surgical aesthetic procedures, including scar reduction, cosmetic enhancements and non-laser tattoo reversals are the major factors propelling growth in the US market. Asia-Pacific is poised to grow at strongly, due to the region’s aging population and the growing demand for anti-aging products. More

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