Global Aesthetic Medicine Market; By Procedure Type (Invasive Procedures and Non-invasive Procedures); By Product (Energy-Based Devices, Implants and Anti-Wrinkle Products); and By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast: 2023-2032

Report Overview

The Aesthetic Medicine Market size is expected to be worth around USD 3,73,612.96 million by 2032 from USD $99,900 million in 2022, growing at a CAGR of 14.10% during the forecast period from 2022 to 2032.

In recent years, aesthetic treatments have indexed a surge in demand due to the introduction of new devices by manufacturers. The launch of new, technologically sophisticated products, such as non-invasive body contouring that uses fat-freezing technology, is anticipated to augment market growth in the coming years. With 141,325 operations completed, non-invasive body fat reduction was one of the most common non-invasive procedures in America in 2021, according to the Aesthetic Society (U.S.). The COVID-19 pandemic has had a profound impact on the market for aesthetic treatments.

Global Aesthetic Medicine Market Scope:

Procedure Type Analysis:

With a market share of more than 51.6%, the non-invasive procedure segment dominated this industry in 2021. This segment is expected to grow at the fastest rate of CAGR over the forecast period. This market is divided into non-invasive and invasive procedures based on the type of procedure. Non-invasive procedures have registered a worldwide increase in demand due to their low cost, ease of use, and quick results. Botox injections and soft tissue fillers are some of the most popular non-invasive procedures.

Allergan Aesthetics (a subsidiary of AbbVie Inc.) received approval from the FDA for JUVEDERM® VOLUMA™ XC to augment the chin area in adults aged over 21 years. Jeuveau was approved by the FDA in 2019. It is similar to Botox but cheaper. It is effective in reducing wrinkles. Some of the most popular aesthetic device procedures include liposuction and breast augmentation. These invasive procedures are in high demand due to the increasing focus on one’s physical appearance.

Product Analysis:

The aesthetic medicine market share, based on the type of product, is divided into energy-based devices, implants, and anti-wrinkle products. In 2021, the anti-wrinkle products segment represented the largest revenue share at about 40.3%. Individuals can lessen age spots, hyperpigmentation, and fine wrinkles thanks to these products. Collagen synthesis and skin cell renewal are also encouraged. Due to these factors, a growing number of geriatric individuals who want to maintain smooth skin use anti-wrinkle treatments. This segment’s sales growth is being driven by the ease of availability and minimal intrusiveness of these products. Hyaluronic acid is reported to be used in studies published in the NCBI in 2021 for the treatment of difficult-to-heal wounds, which is anticipated to promote future revenue growth prospects for this market.

Due to increasing patient demand for facial aesthetic medical treatments, surging disposable incomes and buying power, and a growing acceptance of breast implants among mastectomy patients, the implants category is anticipated to register rapid revenue growth over the forecast period. Implantation is typically done to improve the organ’s distorted shape as well as for cosmetic purposes. Greater breast cancer awareness and the number of diagnosed and undiagnosed women undergoing mastectomy procedures to lower their risk of the illness are both contributing to an increase in the adoption of implantation surgery by patients to regain their pre-cancer body silhouettes. This is anticipated to significantly aid in this segment’s revenue forecast growth in demand trajectory.

Key Market Segments:

Procedure Type:

• Invasive Procedures
  • Breast Augmentation
  • Nose Reshaping
  • Liposuction
  • Tummy Tuck
  • Eyelid Surgery
  • Other Invasive Procedures
• Non-Invasive Procedures
  • Botox Injections
  • Laser Hair Removal
  • Soft Tissue Fillers
  • Chemical Peel
  • Microdermabrasion
  • Other Non-invasive Procedures

Product Type:

• Energy-Based Devices
• Implants
• Anti-Wrinkle Products

Market Dynamics:

This market was initially impacted by the imposition of social distancing norms, a sharp decline in incomes as well as social disillusionment. This industry experienced a short-term period of negative growth due to factors like a decline in product demand, limited operations, and the temporary closure of beauty centers, as well as disruptions in manufacturing and supply chains. Remote working has led to an increase in Zoom calls. Adults are more concerned about their appearance.

A component of aesthetic medical operations is the improvement of patients’ phenotypical characteristics in-line with their needs. Access to a wider range of procedures is becoming more common. These can be used to improve the appearance of scars and wrinkles, liver spots, excess weight, skin discoloration and skin laxity, and cellulite, as well as unwanted hair. Individuals who wish to improve their quality of life by modifying or improving certain bodily areas are eligible for these treatments.

Botox is one of the most sought-after cosmetic procedures. Interest in non-invasive procedures is on the rise, while invasive procedures are gradually declining in popularity. This market has registered a significant increase in interest over the last few months and will continue to be highly sought-after over the forecast period. A growing desire to look younger and more fit has led to an increase in the demand for aesthetic treatments in developing countries.

In countries like India and South Korea, consumers are increasingly becoming interested in aesthetic procedures, such as nose reshaping and liposuction. According to the International Society of Aesthetic and Plastic Surgery (ISAPS), India was among the top five countries where non-surgical procedures were being performed on a global basis. This highlights the potential for India to be a major market for aesthetic medicine.

Regional Analysis:

In 2021, North America had the highest revenue share (36.2%) of any region. Modern healthcare infrastructure, the increasing demand for cosmetic operations, a surging incidence of skin diseases, and the local availability of board-certified cosmetic surgeons, are all contributing major factors to this region’s rise to prominence in this industry. The rate of cosmetic surgery was compared between 2023 and to2032 by the American Society of Plastic Surgeons (ASPS).

Findings revealed that Botox injections surged by 78%, while breast augmentation grew by 48%. In the future, North America is anticipated to be a significant source of income for players involved in aesthetic medicine. The highest CAGR (11.5%) is anticipated to be accounted for by the Asia Pacific over the forecast period. This region’s growth is supported by China, India, South Korea, and South Korea. The availability of technologically improved advanced product launches, an increasing emphasis on physical appearances, and South Korea’s status as the center for cosmetic surgery are major market-driving factors.

Key Regions and Countries Covered іn this Rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis:

There are several players in the market for aesthetic medicine, with some local players competing against international players. This market is restricted by strict regulatory approvals that limit the ability to introduce new products. The Competitive Landscape is impacted by numerous technological advancements and the adoption of new devices that provide better treatment. To retain their given market share rankings, top industry players have resorted to strategic mergers & acquisitions.

In December 2021, Allergen Aesthetics, which is part of AbbVie, purchased Soliton Inc., a medical technology company. This acquisition will increase the company’s portfolio of non-invasive body contouring therapies. In September 2020, Allergan Aesthetics (a division of AbbVie) announced the launch of a new education partnership called DREAM™: Driving Racial Equity in Aesthetic Medicine. The DREAM™ Initiative promotes respect for racial diversity and its inclusion in dermatology and plastic surgery. Galderma announced a major investment in its aesthetic portfolio in March 2020. This included the expansion of U.S. salesforces and digital advances in ASPIRE Galderma rewards. These investments have strengthened Galderma’s position in the medical aesthetics market.

Key Market Major Players:

• Cynosure
• AbbVie
• Allergan plc’s
• Bausch Health Companies Inc.
• Dentsply Sirona
• Revance Galderma
• Galderma Laboratories
• Evolus Inc.
• Syneron Candela
• Lumenis
• Solta Medical
• Soliton, Inc.
• Alma Laser
• Johnson and Johnson

Other Key Players

For the Aesthetic Medicine Market research study, the following years have been considered to estimate the market size: