Aesthetic Medicine Market

Aesthetic Medicine Market Outlook

The global aesthetic medicine market size in 2021 was held at US$ 64.6 billion. With 10.3%, the projected market growth during 2022 to 2032 is expected to be significantly higher than the historical growth.

Non-invasive procedure is expected to be the highest revenue generating service, accounting for an absolute dollar opportunity of nearly US$ 64.4 billion during 2022 to 2032.

Revenue of Aesthetic Medicine from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the aesthetic medicine market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the aesthetic medicine industry increased at around 8.9% CAGR, wherein, countries such as the, U.S., Canada, Brazil, Mexico and Germany held significant share in the global market.

Despite the negative effects of COVID-19-related closures and limits on non-emergency medical services, the dermatological and aesthetic medicine markets are likely to quickly recover once the epidemic is over.

The aesthetic medicine market is expected to gain from an increase in awareness and demand for preventative procedures that provide anti-aging advantages of injectable medications early in life. Adults are very conscious of their physical appearance. This has raised demand for aesthetic operations, with botox being one of the most popular category. Non-invasive operations have seen a surge in popularity as compared to invasive procedures.

As a result, the market has seen a surge in recent months, and it is projected to be in high demand during the projection period. Owing to this, aesthetic medicine market is projected to grow at a CAGR of 10.3% over the coming 10 years.

• The aesthetic medicine market was valued at US$ 64.6 Bn in 2021, which increased at an annual pace of 8.9% as compared to 2020. According to Fact.MR, the aesthetic medicine industry would rise 2.5X between 2022 and 2032, reaching over US$ 187.7 billion in 2032.
• Liposuction was the most significant contributor in invasive procedures with market share around 22.8% having value of US$ 6.8 billion, whereas botox injection was the most significant contributor in non-invasive procedures with market share around 27.4% valued at US$9.5 billion.
• Non-invasive procedures are projected to accounted for over 50% share of aesthetic medicine throughout the analysis period.
• In the non-invasive procedure segment, laser hair removal has showed promising development in the recent years. In 2021, it had a market value of US$ 8.6 Bn; with a CAGR of 10.6% it will reach US$ 25.4 Bn by 2032.
• Breast augmentation has seen a significant increase in the invasive procedure category. In year 2021, the market value was around US$ 6.1 Bn. With a forecast CAGR of 9.6% it will touch US$ 16.8 billion by 2032.
• The United States leads the way in aesthetic medicine, with CAGR of 10.4% its market is projected to reach US$ 69.3billion in 2032

How is Product and Procedure Innovation Fuelling the Medical Aesthetics Market's Expansion?

Combination treatments have recently been trending in the aesthetics medicines. It is being used with radiofrequency and lasers to produce longer-lasting and smoother results.

Along with rising consumer interest in skin texture and tone enhancement, laser resurfacing, aesthetic injectables, and other non-invasive or minimally invasive therapies are witnessing a surge. Due of the remarkable outcomes and low downtime associated with hybrid fractional laser resurfacing procedures, they have become a popular demand within the aesthetic medicine market.

Within a short period of time and with little side effects, facial lines, wrinkles and undesirable fat reduction can all be achieved. In addition, during the last few years, there has been a significant surge in the desire to reverse the effects of ageing. As a result of the growing acceptability of non-surgical anti-aging procedures among the baby boomer demographic, the category is expected to increase at a faster rate throughout the projected period.

Which Region Is Expected To Have Significant Growth Potential In The Aesthetic Medicines Market?

With a market share of over 40%, North America is likely to maintain its dominance in the medical aesthetics industry during the analysis period. In addition, over the predicted period, the regional share is expected to rise. Demand in the region is also rising since both men and women in the region utilize medical aesthetics products with equal interest.

Some of the important drivers driving the growth of the medical aesthetics market in the country are strong marketing by prominent US companies, rising medical tourism, and increased awareness about aesthetics.

What Is the Influence of Celebrity Promoting Aesthetic Medicine Treatments?

Celebrities are becoming more outspoken about the alterations they are making to their physical appearances. They are more willing to talk about surgery and procedures they have had. Today's cosmetic procedures have advanced to produce natural-looking outcomes.

In 2015, celebrities such as Kylie Jenner was quite open to the treatment of lip filler. The growth in demand for aesthetic treatments among the younger generation is linked to her fame and influence. Kim Kardashian is another example; she is quite open about her skin treatments. For the first time, she revealed about the Botox treatments in an interview. Kaley Cuoco, an American television actress, underwent breast augmentation, a nose procedure and round of fillers.

Country-wise Analysis

How Consumer Acceptance of Aesthetic Medicine has swelled the Most Populated Country in the World?

Consumer acceptance of aesthetic medication consumption has continuously expanded in China, owing to the combined influence of consumption upgrading phenomenon and higher consumer awareness due to novel digital media marketing innovations.

The government has continually established policies to encourage the standardisation of cosmetic medicine businesses. The aesthetic medicine market in China is expected to grow at the fastest pace in Asia Pacific, with a CAGR of 13%. The market in the country is likely to exceed valuation of US $16 Bn by 2032.

By 2032, China is estimated to account for more than 7% of the global medical aesthetics demand. Large digital platforms have also been providing first-time access to patients in its third and fourth tier cities in the country. This has sparked interest in the country's future medical aesthetics potential.

Population in Japan Growing Old, Aesthetic Medicine in the Country Getting Young, Check How?

Japan has the largest elderly population in the world. According to a survey published by the World Health Organization (WHO), Japan currently has over 34% of its population over the age of sixty; this figure is expected to rise over 42% by 2050. Wrinkles appear as one's age progresses which is one of the key reasons for rise of cosmetic medicine market in Japan.

The aesthetic device market in Japan is dominated by a number of multinational manufacturers. The healthcare system in Japan is well-established and backed by the government. Owing to this, several businesses are encouraged to enter the market.

From Fashion to Medicine, How Brazilians are transforming the Aesthetic Medicine Dynamics?

In recent years, the Brazilian market for medical aesthetic devices has swelled significantly. Brazilians underwent the most number of non-surgical treatments in the world, as per the International Society of Aesthetic Plastic Surgery's 2018 report. Obesity is another primary fuelling the market's expansion.

Brazil is a developing country that belongs to the World Health Organization's upper middle-income group. As a result, the business is significantly profitable, encouraging numerous worldwide players to enter the Brazilian market.

Category-wise Insights

Why are Non-invasive Procedures Command a Larger Proportion of Cosmetic Medicine Market than Invasive Procedures?

In comparison to invasive procedures, non-invasive procedures have a larger market share. Less pain, faster outcomes, and lower costs are just a few of the factors driving global demand for non-invasive procedures. Botox injections, soft tissue fillers, and chemical peels are all popular non-invasive procedures.

Cosmetic operations are becoming increasingly popular around the world. It is expected to boost the cosmetic medicine market even higher. According to the International Society of Aesthetic Plastic Surgery (ISAPS), India is one of the top five countries in the world when it comes to non-surgical procedures. Adults are increasingly paying attention to their physical appearance as a result of their increased fitness awareness.

How has Covid-19 Impacted Revenue Generation of Aesthetic Medicines?

COVID-19 had a significant impact on the aesthetic medicine industry, resulting in temporary closures of beauty salons, decreased product demand, limited operations, and lower income levels. The industry experienced a period of short-term negative growth however, consumers are particularly conscious of their physical appearance. As a result, demand for cosmetic surgery has increased, with Botox being one of the most popular treatments.

Patients are also interested in cosmetic procedures due to the simplicity with which they can heal while staying at home. As a result, the worldwide aesthetic medicine market rose dramatically during the lockout, resulting in increasing demand. The development of advanced aesthetic devices such as non-invasive aesthetic devices, as well as an increasing focus on physical appearance, are some important market drivers.

Competitive Analysis

• The way in which competition is dealt with has changed considerably as market competition has expanded. The key companies in aesthetic medicine market include Allergan, Galderma Laboratories, Merz Pharmaceuticals, Alma Lasers, Johnson & Johnson, Galderma, Lumenis, Cynosure, Cutera, and Solta Medical

Some of the recent developments of aesthetic medicine providers are as follows:

• In Jan 2021, Allergan Aesthetic established a partnership with Cypris Medical, a Chicago-based private medical device firm. The clinical trial has already begun, and it will aid in the evaluation and cross-checking of Xact's safety in treating face skin drooping and nasolabial sulcus deepening. Allergan Aesthetics will be able to exercise an option to purchase Cypris Medical, which includes the Xact device.
• In Dec 2021, Galderma announced that its new label for SCULPTRA (injectable poly-L-lactic acid (PLLA)) helps in treatment of smoothening of facial wrinkles, such as smile lines, includes higher dilution, the addition of immediate use reconstitution, and new injection techniques. These changes give aesthetic injectors more options for safely and successfully administering SCULPTRA.

Aesthetic medicine Market Report Scope

Attribute	Details
Forecast Period	2022 to 2032
Historical Data Available for	2017 to 2021
Market Analysis	US$ Bn for Value
Key Regions Covered	North America; Latin America; Europe; APAC & MEA
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, U.K., France, Spain, Italy, Russia, China, Japan, South Korea, India, Australia, Israel, UAE, Saudi Arab, South Africa
Key Market Segments Covered	Procedure Type, Region
Key Companies Profiled	Allergan; Galderma Laboratories; Merz Pharmaceuticals; Alma Lasers; Johnson & Johnson; Galderma; Lumenis; Cynosure; Cutera; Solta Medical
Pricing	Available upon Request

Market Segments Covered in Aesthetic Medicines Industry Analysis :

• By Procedure Type :

  • Invasive Procedures
    • Breast augmentation
    • Liposuction
    • Nose reshaping
    • Eyelid surgery
    • Tummy tuck
    • Other invasive procedures
  • Non-Invasive Procedures
    • Botox injections
    • Soft tissue fillers
    • Chemical peel
    • Laser hair removal
    • Microdermabrasion

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA