Aesthetic Medicine Market Size to Surpass US$ 155.67 Bn by 2030

Ottawa, May 02, 2022 (GLOBE NEWSWIRE) -- The global aesthetic medicine market size was valued at USD 69.47 billion in 2021. Demand for aesthetic medicine remains strong in 2021. Some sales insight revealing the strong growth of aesthetic medicine during the past few years are listed below:

• The global aesthetic medicine market value is expected to reach US$142.2 billion by 2030
• The non-invasive procedures segment captured a market share of around 51% in 2020
• Around 4.4 million Botox injection procedures were performed in 2020 in US
• India is among the top five non-surgical procedures performing nations at global level
• Global geriatric population is expected to reach 1.5 billion by 2050
• North America accounted for a revenue of around US$20.66 billion in 2020
• Asia Pacific aesthetic medicine market is projected to grow at a CAGR of 10.7% from 2021 to 2030
• Botox injection procedures increased by 845% from 2000 to 2018, in US

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Approximately 36% of the Global Aesthetic Medicine Market Captured by North America

The rapidly shifting consumers’ attitude towards beauty, wellness, and aging has surged the awareness and acceptance of aesthetic medicines and procedures, which has resulted in an increasing demand for the aesthetic medicines among the men. US is the largest market in North America. The presence of aesthetic treatment services via beauty bars, med spas, and aesthetic clinics in the region has significantly fostered the growth of the aesthetic medicine market. The rapidly aging population in US is expected to be a prominent growth driver of the market in the upcoming future. It is estimated that around 24% of the total population in US will constitute the elderly population by 2060. The rising concerns among the middle and high income groups regarding their physical appearance are expected to boost the demand for the aesthetic medicine in US. Botox injection is the leading procedure and the most demanded procedure in North America. According to the American Society of Plastic Surgeons Botox injections procedures has increased by around 845% between 2000 and 2018.

Scope of the Report

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What are the key trends in the Global Aesthetic Medicine Market?

The growing urge among the people to look young and fit is fueling the demand for the aesthetic medicine in the developed and developing economies. The rapidly surging popularity of the non-invasive and minimally invasive surgical procedures is driving the growth of the aesthetic medicine market across the globe. The demand for the cosmetics surgery is boosting the growth of the aesthetic medicine market. The rising adoption of advanced laser resurfacing technology and aesthetic injectable is propelling the growth of the aesthetic medicines globally. Furthermore, the economic benefits and conveniences associated with the minimally invasive procedures like less pain and quick recovery is fostering its demand among the consumers.

What are the key challenges in the Global Aesthetic Medicine Market?

There is a risk of potential side effects associated with the aesthetic procedures. There are certain complications and risks that the consumers may face during or after the procedure. The associated risks are the major factor that may restrict the consumers to adopt the aesthetic treatments. Furthermore, the high costs involved with the treatment and the low awareness in the developing and underdeveloped economies may hamper the market growth during the forecast period. Furthermore, the manufacturers faces a complicated regulations pertaining to the commercialization of various aesthetic medicines.

Asia Pacific is expected to grow at the highest CAGR of 10.7% during the forecast period

The emerging economies like China, India, and South Korea are the growth drivers of the Asia Pacific aesthetic medicine market. South Korea has become a hub for aesthetic treatments owing to the presence of advanced treatment facilities and skilled cosmetics surgeons. The rising awareness among the population regarding the availability of various invasive and non-invasive procedures to improve the aesthetic appearances and anti-aging injectable is boosting the growth of the market. The rapidly growing geriatric population in the region is projected to increase the demand for the aesthetic medicines in the forthcoming years. According to the United Nations, the low and middle income countries are expected to be the home of around 80% of the global geriatric population by 2050. Furthermore, around 93% of the road traffic accidents occur in low and middle income nations, which also contribute towards the increasing demand for the aesthetic medicine market in Asia Pacific. The rising technological advancements and rising penetration of the aesthetic treatment products in the region coupled with rising personal disposable income is augmenting the growth of the aesthetic medicine market in Asia Pacific.

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Top Aesthetic Medicine Manufacturers in 2020

AbbVie Inc., Galderma, Alma Lasers, Cynosure, Johnson & Johnson Private Limited, Lumenis Be Ltd., Solta Medical, Candela Medical, Hologic, Inc., and Dentsply Sirona are the prominent players in the global aesthetic medicine market.

Market Segmentation

By Procedure Type

• Non-Invasive Procedure
• Invasive Procedure

By Product Type

• Energy-Based Devices
  • Laser-based Aesthetic Device
  • Radiofrequency (RF)-based Aesthetic Device
  • Light-based Aesthetic Device
  • Ultrasound Aesthetic Device
  • Others
• Implants
  • Facial Implants
  • Breast Implants
  • Others
• Anti-Wrinkle Products
• Botulinum Toxin
• Dermal Fillers
• Others

By Application

• Surgical
• Non-Surgical

By End-User

• Medical Spas and Beauty Centres
• Hospitals and Clinics
• Ambulatory Surgical Centers
• Home Use

By Gender

• Males
  • 18 years and below
  • 19-34 years
  • 35-50 years
  • 51-64 years
  • 65 years and above
• Females
  • 18 years and below
  • 19-34 years
  • 35-50 years
  • 51-64 years
  • 65 years and above

By Route of Administration

• Oral
• Topical

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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