Pune, India, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The global medical aesthetics market size was valued at USD 20.54 billion in 2022 and it is projected to reach USD 45.91 billion by 2029, exhibiting a CAGR of 12.2% during the forecast period. The increasing adoption of non-surgical treatment options is due to the various benefits such as lower side effects, less recovery time, and faster results. Fortune Business Insights, presents this information in its report titled, “Medical Aesthetics Market 2022-2029.”
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Medical Aesthetics Market Key Industry Development:
In March 2023: Galderma introduced "FACE by Galderma," an augmented reality (AR) tool that empowers both aesthetic professionals and patients to preview injectable treatment results before the actual procedure, enhancing the treatment planning process.
Discover the Leading Players Featured in the Report:
“Companies leading the global medical aesthetics market are Sisram Medical Ltd (Israel), Merz Pharma (Germany), Apyx Medical (U.S.), AbbVie Inc. (U.S.), El.En. S.p.A. (Italy), Johnson & Johnson Services, Inc. (MENTOR) (U.S.), Candela Medical (U.S.), Cutera (U.S.), Bausch Health Companies Inc. (Canada), Sientra, Inc. (U.S.).”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 12.2% |
| 2029 Value Projection | USD 45.91 Billion |
| Base Year | 2021 |
| Medical Aesthetics Market Size in 2022 | USD 20.54 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 156 |
| Segments Covered | Type, Application, End User and Geography |
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Medical Aesthetics Market Drivers and Restraints:
Preferential Shift Toward Non-Invasive Procedures to Aid Market Augmentation
Patients have been preferring non-invasive procedures such as chemical peels and dermal fillers over surgical methods owing to the benefits offered by them such as reduced recovery time, less side effects, and faster results. Increasing demand for facial aesthetics procedures among the general population and rising adoption of medical aesthetics procedures by males will also contribute to market expansion.
On the other hand, high costs of procedures and a dearth of reimbursement policies will act as challenges for businesses operating in this domain.
Drivers of Medical Aesthetics Market:
- The growing middle class in developing countries and increased spending on personal appearance are boosting the market.
- The desire to maintain a youthful appearance fuels the demand for anti-aging procedures.
- Minimally invasive, effective, and safer procedures attract more patients.
- Celebrities and influencers promoting treatments normalize aesthetics and create a desire for them.
- Growing preference for less invasive options like injectables and laser treatments drives market growth.
Recent Trends in Medical Aesthetics Market:
- Customized treatment plans based on individual needs and goals are gaining traction.
- Combining different procedures for enhanced results is becoming popular.
- Patients seek subtle enhancements that preserve their individuality.
- Online consultations are increasing accessibility and convenience.
- Men are increasingly opting for aesthetic procedures like Botox and hair transplants.
- Increased competition and focus on patient experience are driving this trend.
Medical Aesthetics Market Segments:
By Type
- Ultrasound Devices
- Light-based Devices
- Radiofrequency-based Devices
- Laser-based Devices
- Energy-based Devices
Non-energy-based Devices
- Botulinum Toxin
- Dermal Fillers
- Microdermabrasion
- Implants
-
- Dental Implants
- Breast Implants
- Other Implants
-
- Others
By Application
- Skin Resurfacing & Tightening
- Body Contouring and Cellulite Reduction
- Hair and Tattoo Removal
- Breast Augmentation
- Other Applications
By End-user
- Hospitals
- Specialty Clinics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Non-energy-based Devices Segment to Lead Owing to Rising Demand for Clinical Procedures
As per type, the market is split into energy-based devices, non-energy-based devices, and others. Among these, the non-energy-based devices segment led the market in 2021 due to an expanding patient base for hair removal, botulinum toxin, and dermal filler procedures across the world, which is boosting the need for non-energy-based medical aesthetics devices.
Skin Resurfacing and Tightening Segment to Lead Owing to Rising Demand for Technological Developments
According to application, the market is divided into skin resurfacing & tightening, body contouring and cellulite reduction, hair and tattoo removal, breast augmentation, and others. Among these, the skin resurfacing & tightening segment held the largest medical aesthetics market share in 2021, owing to rising patient demand for technological developments and the launch of new and advanced devices.
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Medical Aesthetics Market Regional Insights:
Increasing Popularity of Surgical and Non-Surgical Procedures to Escalate North America Market
North America held the largest share and was estimated at USD 9.53 billion in 2021. The increasing popularity of surgical and non-surgical medical aesthetics procedures in the region and the growing number of clinics are the factors attributing to the growth of this segment. The presence of highly qualified surgeons in the U.S. will also aid the market proliferation.
Europe is projected to register the highest CAGR over the forecast timeframe due to increasing medical tourism and a rising number of non-invasive procedures.
Latin America and the Middle East & Africa will grow substantially in the forthcoming years due to the increasing number of aesthetic clinics in Saudi Arabia and Dubai to meet the rising demand for breast augmentation, dermal fillers, and botulinum toxin treatments.
Medical Aesthetics Market Competitive Landscape:
Launch of Innovative Products will Elevate the Market
Industry leaders often make tactical moves such as mergers & acquisitions, partnerships, and investments in research & development to increase productivity, secure larger revenues, and maximize profits. One such move is to the launch new products to enhance product offerings.
FAQs
How big is the medical aesthetics market?
The medical aesthetics market size was USD 20.54 billion in 2022. It is expected to reach USD 45.91 billion by 2029.
How fast is the medical aesthetics market growing?
The medical aesthetics market will exhibit a CAGR of 12.2% by 2029.
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