USD 13.1 billion
Medical Aesthetics Market Size, Share, Growth Analysis, By Product Type(Skin Resurfacing & Tightening, Hair & Tattoo Removal, Facial Aesthetics Products, and Body Contouring), By Procedure(Surgical and Non-Surgical), By End-Users(Clinics, Hospitals, Medical Spas, and Home Care Settings), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35B2082 |
Region:
Global |
Published Date: August, 2024
Pages:
263
|Tables:
146
|Figures:
78
Medical Aesthetics Market Insights
Global Medical Aesthetics Market size was valued at USD 13.1 Billion in 2022 and is poised to grow from USD 14.4 Billion in 2023 to USD 35.6 Billion by 2031, growing at a CAGR of 10.1 % in the forecast period (2024-2031).
In recent times, the medical aesthetics market has witnessed a massive surge mainly due to the increasing societal focus on a person’s appearance. This transformation in cultural norms along with the awareness of cosmetic solutions that are now readily available in the market have played a vital part in boosting the market growth. People are also becoming more mindful about improving personal aesthetics and embracing different cosmetic interventions, driving the medical aesthetics market. These processes are conducted by skilled medical providers utilizing advanced aesthetic technology. Treatments such as Botulinum toxin injection, aesthetic fillers, chemical peels, and microdermabrasion devices are becoming immensely popular. This is mainly due to their efficiency and minimal invasiveness. This surge is further augmented by the high demand of microneedling devices and other minimally invasive processes. Conventional aesthetic treatments like liposuction, breast augmentation, eyelid surgery, and abdominoplasty are also driving the global aesthetic markets. Furthermore, surge in medical tourism, increasing disposable incomes, and rising awareness of aesthetic specialties are also creating immense opportunities for the companies leading the medical aesthetics market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Facial aesthetic products
Fastest Growth
Facial aesthetic products
Growth Rate
10.1% CAGR
Global Medical Aesthetics Market ($ Bn)
Country Share for North America Region (%)
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Medical Aesthetics Market Segmental Analysis
Global Medical Aesthetics Market is segmented by product, procedure, end-user and region. Based on product, the market can be segmented into Facial Aesthetic Products, Body Contouring Devices, Cosmetics Implant, Skin Aesthetic Devices, Hair Removal Devices, Tattoo Removal Devices, Thread Lift Products, and Others. Based on procedure, the market is segmented into Surgical Procedures and Non-Surgical Procedures. Based on end-user, the market is segmented into Clinics, Hospitals, & Medicals Spas, Beauty Centers, and Home Care Settings. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Product
The facial aesthetic products segment is the largest segment in the medical aesthetics market by product and is expected to grow at the highest CAGR from 2024 to 2031 owing to the growing popularity of facial aesthetic treatments, increasing spending power due to growing disposable income, and because of the elderly population across the globe. There is a growing adoption of the advanced tools which is enhancing precise diagnostics and the rising demand for improved sensitivity outsourcing the growth of the segment.
On the other hand, body contouring devices is the fastest growing segment in medical aesthetics market by product. due to the rising demand for non invasive body sculpting procedures, there is seen a rise in the growth after segment. Few procedures like cryolipolysis, radio frequency, and others are becoming popular as the target localized fat deposits and help in improving body shapes without surgeries. The rising desire for aesthetic body enhancements further contributes to the market growth. Additionally, the advancements in technologies help in enhancing the aesthetic appearance by providing hand pain free procedures, therefore contributing to the growth of the market.
Analysis by End-User
The clinics, hospitals, and medicals spas segment are the largest segment by end user in the medical aesthetics market. The rise in the use of automated advanced systems is driving the growth of the segment. These advanced systems help in the early detection of the disease. The growing awareness among the consumers also contributes to the growth. The rise in the digitalisation of the patient workflows and the growing adoption of the advanced digital systems in the clinics further contributes to the growth of the market by enhancing the quality of the patient care.
On the other hand, the home care segment in the medical aesthetics market is the fastest growing segment by end user. The advances in aesthetic devices and products such as hair removal devices, anti-aging treatments, and at home skin tightening devices are driving the segmental growth as these provide convenience at one’s home. The growing demand for the home use aesthetic technologies and the growing trend towards personalized self-care and beauty routines is further surging the market growth.
Global Medical Aesthetics Market By Product Type
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Medical Aesthetics Market Regional Insights
North America is witnessing the maximum growth in the medical aesthetics market. This region is dominating the market because of factors like advanced medical infrastructure, acceptance of cosmetic procedures, rising prevalence of skin disorders, and the presence of board-certified. Furthermore, this region also has many skilled cosmetic surgeons, which is also progressing the aesthetics market further. Canada is experiencing a huge growth in aesthetic procedures by facial injectables. These processes are being conducted in non-clinical organizations such as shopping malls, beauty salons, and even day spas. But due to this rising demand, it is vital that the rules and regulations of the Canadian Association of Medical Spas & Aesthetics Surgeons (CAMAS) are followed to ensure safety.
Asia Pacific is the fastest growing market in the medical aesthetic market. This is majorly due to the increasing adoption of combination therapies. In these types of treatments several aesthetic processes are amalgamated for accomplishing the desired results. This trend is also boosted by the preference for improving their presence and personalized treatment plans customized for Asian beauty idols. Furthermore, there is also a rising demand for skincare products that are infused with conventional herbal components. This is also highlighting the preference for natural remedies and cultural heritage in skincare routines. These factors are helping in the progression of the medical aesthetics market in the Asia Pacific region.
Global Medical Aesthetics Market By Region
- Largest
- Fastest
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Medical Aesthetics Market Dynamics
Drivers
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Increasing Aging Population
The aging population is increasing at an unprecedented rate and has become one of the major drivers of the medical aesthetics market. With an increase in age people are also trying to get treatments for various signs of aging like wrinkles, sagging skin, and reduced volume. This is also boosting the demand for procedures such as injectables, dermal fillers, and skin rejuvenation treatments.
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Growing Disposable Income
Disposal income has increased massively in recent times in the developing economies. It is helping people to afford medical aesthetics processes. With more discretionary income now people are ready to invest in treatments that can enhance their appearance and increase self-confidence.
Restraints
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Regulatory Transformation and Compliance
Strict requirement of regulations and changing legislation related to the use of medical aesthetic products and processes are creating hindrance to the market development. Shifts in regulations like restrictions on many ingredients or treatment methods can influence the availability of products and need expensive adjustments to follow new standards.
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Competitive Setting and Pricing Pressures
One of the major threats to market profitability is huge competition among medical aesthetics providers and manufacturers. Furthermore, pricing pressures from low-cost substitute methods and generic products also intensify this competition hindering market growth. Such fluctuations of price and discounting strategies can reduce brand value and result in commoditization, influencing margins and revenue growth.
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Medical Aesthetics Market Competitive Landscape
Today, there are many local and international organizations that are competing in this extremely fragmented aesthetics medicine market. Strict regulatory approvals for the aesthetic process can make it challenging for new products to enter the market. Furthermore, rapid technological advancement and adoption of new gadgets to get a better appearance is influencing the competition in the market. The prominent companies are also moving towards mergers and acquisitions to increase their market share and presence. This is also helping businesses to launch new products on the market.
Top Player’s Company Profile
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Lutronic (South Korea)
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Vennus Concept (Canada)
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Evolus Inc. (US)
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Cutera (US)
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Eclipse (Belgium)
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Cynosure (US)
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Merz Pharma (Germany)
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Sisram Medical Ltd (Israel)
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BTL Group of Companies (Switzerland)
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Zimmer Biomet (Poland)
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Fotona (US)
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AbbVie Inc. (US)
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Johnson & Johnson (US)
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Bausch Health Companies Inc. (Canada)
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Cutera (US)
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El.En. S.P.A. (Italy)
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Inmode Ltd. (Israel)
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Fotona (Slovenia)
Recent Developments
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LUBEX unveiled Sapphire ice-cooling hair removal device in November 2023. The specialty of the device is that it can be utilized at home.
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SKIBVIVE by JUVEDERM by Allergan was given approval by the US FDA in May 2023. This solution can be used for enhancing the smoothness of the cheeks.
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In July 2022, Apyx Medical made the announcement that the US Food and Drug Administration cleared Renuvion devices for use in aesthetic procedures. This can improve the appearance of lax skin in the neck region.
Medical Aesthetics Key Market Trends
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Transforming Beauty Standards and Social Media Influence
The demand for medical aesthetics treatments is increasing due to the transforming beauty standards and the influence of social media platforms. The desire to get a flawless appearance is frequently portrayed in the social media platforms that encourage people to go through processes that can improve their features and maintain a young look.
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Development of Emerging Markets
The increase in disposable income and awareness of aesthetic process is increasing opportunities for the emerging markets. The medical aesthetics business can extend their presence in these markets by providing a wide range of treatments. They can also embrace marketing tactics for catering local preferences and cultural norms.
Medical Aesthetics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global medical aesthetics market is growing fueled by the rising demand for cosmetic solutions. Innovative systems and technological developments have resulted in the advancement of minimally invasive devices and non-surgical processes like Botox injections and laser therapy. Nowadays, patients also want immediate results and personalized aesthetic treatments like abdominoplasty and liposuction. Furthermore, regulatory compliance and safety standards are in place to guarantee patient safety. The market also provides a vast range of personal aesthetic improvement options from facial aesthetics devices to body contouring devices. The market is constantly evolving with advanced surgical procedures and new beauty products.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 13.1 Billion |
| Market size value in 2031 | USD 35.6 Billion |
| Growth Rate | 10.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered | ’s Company Profile
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Aesthetics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Aesthetics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Aesthetics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Aesthetics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Aesthetics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Aesthetics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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