Medical Aesthetics Market to grow further up to USD 32.4 billion

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Medical Aesthetics Market to grow further up to USD 32.4 billion

New York, The medical aesthetics market was valued at USD 10.2 billion in 2021 and it is anticipated to grow further up to USD 32.4 billion by 2031 at a CAGR of 12.3% during the forecast period (2022-2031).

Global Medical Aesthetics Market report from Global Insight Services is the single authoritative source of intelligence on Medical Aesthetics Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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The medical aesthetic is used to treat and improve the aesthetic appearance of a person by treating various conditions, like skin laxity, excessive fat, cellulite, scars, moles, wrinkles, unwanted hair, liver spots, spider veins, and skin discoloration. Conventionally, it comprises dermatology, oral & maxillofacial surgery, reconstructive surgery, and plastic surgery. Aesthetic medicine comprises surgical & non-surgical procedures and a combination of both can be used to enhance an individual’s physical appearance.

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Market Drivers
Growing adoption of minimally invasive and non-invasive aesthetic procedures

There has been a significant increase in the inclination for minimally invasive and non-invasive aesthetic procedures over traditional surgical procedures in the past decade. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, like fewer pain, minimized scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures. As per the International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall increase of 5.4% in the number of plastic and cosmetic procedures during 2017 and 2018.

Market Opportunities
Growing demand from emerging markets

Emerging countries like China, Brazil, Mexico, and India offer significant opportunities for players operating in the medical aesthetics market. The demand for medical aesthetic devices in these countries is rising owing to rapid growth in medical tourism, the growing adult (aged 20 and above) population, rising disposable incomes, and increasing awareness about aesthetic specialties. The presence of a greater number of surgeons in these emerging countries is also contributing to the growth of the medical aesthetics market.

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Market Segmental Analysis
The global medical aesthetics market is segmented into product and end-users.

Global Medical Aesthetics Market by Product

The various products such as facial aesthetic products, body contouring devices, cosmetic implants, hair removal devices, tattoo removal devices, thread lift products, physicians-dispensed cosmeceuticals & skin lighteners, physician-dispensed eyelash products, and nail treatment laser devices. The facial aesthetic product is also sub-segmented into dermal fillers, botulinum toxins, microdermabrasion, and chemical peels. Also, body contouring devices are sub-segmented into non-surgical fat reduction devices, cellulite reduction devices, and liposuction devices. Likewise, the cosmetic implant is sub-segmented into breast implants, facial implants, and gluteal implants. Also, hair removal device is sub-segmented into laser hair removal devices and IPL hair removal devices. Moreover, skin aesthetic device is also sub-segmented into laser resurfacing devices, nonsurgical skin tightening devices, micro-needling products, and light therapy devices.

Global Medical Aesthetic Market by End User

The various end-users such as clinics, hospitals & medical spas, beauty centers, and home care are comprised in the global medical aesthetic market.

The clinics, hospitals & medical spas segment is likely to dominate the market. The key factors such as increasing number of medical spas and clinics combined with the high availability of financial and infrastructural resources in hospitals, comprising technologically advanced devices, trained staff, and skilled professionals to perform aesthetic procedures.

Geographical Analysis of Global Medical Aesthetic Market

The global medical aesthetic market is studied for key countries of various regions such as North America, Europe, Asia Pacific, and the Rest of the World.

North America is anticipated to dominate the market during the forecast period. The key factors such as increasing consumer knowledge and interest in procedures and strong local economies, aggressive marketing by leading companies are boosting the growth of the region in the market.

Market Players of the Global Medical Aesthetic Market
The key players in the global medical aesthetic market are Allergan-AbbVie, Alma Lasers, Ltd., Anika Therapeutics, Cutera, Inc., Cynosure, El.En. S.p.A., Fotona d.o.o., Galderma, Johnson & Johnson, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., SIENTRA, INC., HUADONG MEDICINE CO. LTD. and BAUSCH HEALTH COMPANY, INC. among others.

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