Global Medical Aesthetics Market By Procedure (Invasive and Non-Invasive), By Application (Skin Resurfacing & Tightening, Lip Augmentation, Body Contouring, Cellulite Reduction, Rhinoplasty, and Others Application), By End User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

In 2022, the Global Medical Aesthetics Market size is expected to be worth around USD 51.7 Billion by 2032 from USD 15.3 Billion in 2022, growing at a CAGR of 14.7% during the forecast period from 2023 to 2032.

The recent increase in demand for aesthetic operations is a result of manufacturers developing novel aesthetic gadgets. For example, it is predicted that the introduction of technologically advanced products, such as non-surgical procedures that use Cryolipolysis technology without removing any tissue, would create enticing possibilities for market expansion in the following years.

Key Takeaways

• Market Growth: The global medical aesthetics market is expected to grow approximately USD 51.7 billion by 2032, at a CAGR of 13.3%.
• Procedure Analysis: Non-invasive procedures dominate the market due to factors like less pain, lower cost, and instant results. Popular non-invasive procedures include soft tissue fillers, chemical peels, and Botox injections.
• Application Analysis: Skin resurfacing & tightening holds the largest market share among application types, driven by a growing consumer demand for technological advancements in skin rejuvenation.
• End User Analysis: Hospitals & clinics are the primary end users, offering technologically advanced treatments. Home care is also growing due to its cost-effectiveness and convenience.
• Market Drivers: Rising adoption of minimally invasive and non-invasive procedures, increased demand for home-based aesthetic treatments, and technological advancements are driving market growth.
• Restraints: Ethical and social concerns, along with the stigma attached to cosmetic procedures, can negatively affect market expansion.
• Regional Analysis: North America leads the market with over 35% of the revenue share, while Asia Pacific is expected to experience the highest CAGR of 10%, driven by countries like China, India, and South Korea.
• Market Share: Sisram Medical Ltd. holds the largest market share in 2022, with leading companies focusing on mergers and acquisitions to retain their market position.
• Prominent Players: Key players in the global medical aesthetics market include AbbVie Inc., Merz Pharma, Cutera Inc., Medytox, Inc., Allergan PLC, Solta Medical Inc., and many others.

Procedure Analysis

The Non-Invasive Segment Accounted for the Largest Share in Procedure Type

Based on procedure types, the global medical aesthetics market is segmented into invasive and non-invasive. Among these procedure types, the largest market share was occupied by non-invasive because factors such as less pain, low cost, and instant results increased the patient demand for non-invasive treatments globally. Soft tissue fillers, chemical peels, and Botox injections are preferred non-invasive procedures.

However, it has been discovered that the invasive product is effective in minimizing wrinkles. Some of the common invasive aesthetic operations include liposuction, nose reshaping, and breast enhancement.

Application Analysis

The Skin Resurfacing & Tightening Segment Accounted for the Largest Market Share in Application Type

Based on application types, the global medical aesthetics market segmentation is segmented into skin resurfacing & tightening, lip augmentation, body contouring, cellulite reduction, rhinoplasty, and other applications. Among these application types, the largest market share was occupied by resurfacing & tightening. Because, the existence of a sizable patient base receiving treatment options for skin disorders such as acne scars, sagging skin, wrinkles & fine lines, and others is driving up the desire to address such issues.

The segment is expanding as a result of growing consumer demand for technological developments in skin aesthetic rejuvenating procedures and regulatory permissions from different government agencies for the deployment of cutting-edge technologies.

End User Analysis

The Hospitals & clinics Segment Accounted the Largest Market Share in End User Type

Based on end-user types, the global medical aesthetics market is segmented into hospitals & clinics, home care, beauty centers, and other end user. Among these end-user types, the largest market share was occupied by hospitals & clinics. Because, to provide successful yet least invasive cosmetic reconstruction methods, hospitals & clinics have installed the most cutting-edge technologically advanced technology and products. This has made it possible for hospitals to provide patients practically every kind of aesthetic operation.

Moreover, it will support the segment’s expansion globally throughout the predicted period. A wide range of aesthetic products are now accessible in the medical aesthetics market, in order to meet the needs of a variety of clients in private home settings to advance in automation and technology. The home-use aesthetic device is anticipated to develop over the forecasting period because people prefer services at home because it saves them money and time on travel. The end-user segment for hospitals and clinics is expanding at a CAGR of 9%. But throughout the course of the projection period, the home care industry is expanding at a CAGR of 10%.

Key Market Segments

By Procedure

• Invasive
• Non-Invasive

By Application

• Skin Resurfacing & Tightening
• Lip Augmentation
• Body Contouring
• Cellulite Reduction
• Rhinoplasty
• Others Application

By End User

• Hospital & Clinic
• Home Care
• Beauty Centres
• Other End-Users

Drivers

Rising Adoption of Minimally invasive and non-invasive procedures to fuel the market growth

Over the past few years, there has been a preferential shift towards minimally invasive and non-invasive procedures over surgical procedures. Nowadays, there are various tools available for cosmetic surgeons to perform cosmetic procedures such as facelifts and eyelifts making it more affordable and accessible.

Furthermore, these minimally invasive procedures offer several advantages over traditional surgical procedures such as reduced scarring, less pain, and quicker recovery. Moreover, these procedures are more economical as compared to traditional surgical procedures.

• As per the estimations of ISAPS, cosmetics procedures increased by 5.7% from the year 2019 to 2020.

Increasing Demand for home-based Aesthetic Procedures to Boost the Market Growth

In numerous countries, there is a surge in the prevalence of dermatological conditions among the general population such as psoriasis, acne, skin cancer, and others. There is a growing demand for advanced solutions owing to the presence of a large patient pool with severe skin problems, that require treatment. As a result, the demand for availability of home-based products is rising and manufacturers are focused on the development and introduction of new technologies such as LED and radiofrequency-based devices that can be used at home to treat dermatological conditions.

• According to the British Skin Foundation in 2020, nearly 60.0% of individuals suffered from some kind of skin infection.
• In 2022, LightStim introduced Elipsa, a device that offers dual treatment options for the treatment of wrinkles and acne using LED-based technology.

Restraints

Cosmetic Procedures Present Ethical and Social Questions

Social stigma surrounding cosmetic operations such as surgical and nonsurgical are generally brought on by unfavorable opinions of aesthetic treatments in addition to the existence of ethical and religious objections to some aesthetic procedures, such as modifications, implantation, fillings, and erasures. Although the fact that many people undergo some form of cosmetic surgery, only a small percentage of them prefer to discuss it.

Some people consider invasive anti-aging treatments like BOTOX as well as cosmetic surgery to be conceited, selfish, or psychologically unhealthy. Despite the growing emphasis on individuals who are younger among seniors, hiding one’s cosmetic appearance could be harmful to society. The stigma attached associated with cosmetic procedures negatively affects the societal acceptance of these procedures, which restrains market expansion.

Opportunity

Emerging Economies to offer significant growth opportunities

Emerging nations such as India, China, Mexico, and Brazil represent several growth opportunities for the key players to increase their market share. Rising demand for medical aesthetic devices in these countries can be highly attributed to the growing awareness regarding aesthetic specialties, prompt growth in medical tourism, rising disposable incomes, and increasing adult population (from aged 20 and above). In addition, workforce in these countries is comparatively strong.

Thus, they have higher-than-average returns on investment and strong growth potential. Moreover, these countries have lenient trade policies and are underpenetrated in most aspects, helping the companies for brand development. Furthermore, government expenses and subsidies in these countries also aid in the growth of companies.

Regional Analysis

North America Had the Highest Revenue Share 

North America had the highest revenue share of over 35.0% in 2022. Some of the key factors driving the expansion of the industry in this area include acceptance of cosmetic operations, the frequency of increasing skin problems, and board-certified & professional cosmetic surgeons.

Asia Pacific Is Anticipated to Grow Due to South Korea

Asia Pacific is predicted to experience the highest CAGR of 10% during the projection period. Because the region is supported by nations like China, India, and South Korea. The accessibility of technologically advanced products, the rising importance of physical appearance, and South Korea’s prominence as a centre for cosmetic surgery are some of the primary reasons projected to drive the market in the region.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Sisram Medical Ltd Has Largest Market Share in 2022

There are numerous local and foreign businesses competing in the highly fragmented aesthetic medicine market. A stringent regulatory approval for the aesthetic procedure, however, it makes difficult for new products to enter the market in the forecast period. Rapid technological advancement and acceptance of new gadgets for effective health are the main factors influencing the competition in the forecast period. Sisram Medical Ltd. has the largest market share in 2022.

However, leading companies have made mergers and acquisitions a major component of their market share retention strategies. Soliton, Inc., a provider of medicine and technology, and Allergan PLC were bought by AbbVie’s Allergen Aesthetics. This acquisition expanded the portfolio of non-invasive body-reshaping aesthetic procedures.

The following are some of the prominent players in the global medical aesthetics market

• AbbVie Inc.
• Sisram Medical Ltd.
• Merz Pharma
• Cutera Inc.
• Medytox, Inc.
• Solta medical Inc.
• Sientra, Inc.
• Johnson & Johnson Hologic Inc.
• Sciton inc.
• Bausch Health Companies Inc
• Cynosure Inc.
• Evolus Inc.
• Revance Galderma
• Lumenis Inc.
• Solta Medical
• Syneron Candela
• Alma Laser
• Other Key Players.

Recent Development

• In July 2022, according to an announcement from Apyx Medical, the FDA approved the Renuvion device for use in aesthetic operations to improve the appearance of loose skin around the neck.
• In March 2021, The Clear & Brilliant laser of Touch was introduced in the US by Bausch Health Companies Inc. Patients of various ages and skin types can choose from a variety of treatments with the Clear & Brilliant laser of Touch.
• In Jan 2021, The MENTOR MemoryGel BOOST a breast implant was approved by the U.S. FDA for use in breast enlargement in women at 22 years of age and older who are also having breast reconstruction.

Report Scope