Medical Aesthetics Market Size, Share, Growth Analysis, By Product (Facial Aesthetic Products, Body Contouring), By Procedure (Surgical, Non-surgical), By End-user (Clinics, Hospitals, And Medicals Spas, Home Care Settings), By Region - Industry Forecast 2024-2031

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).

Global medical aesthetics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies.  In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Lutronic (South Korea) ', 'Vennus Concept (Canada) ', 'Evolus Inc. (US) ', 'Cutera (US) ', 'Eclipse (Belgium) ', 'Cynosure (US) ', 'Merz Pharma (Germany) ', 'Sisram Medical Ltd (Israel) ', 'BTL Group of Companies (Switzerland) ', 'Zimmer Biomet (Poland) ', 'Fotona (US) ', 'AbbVie Inc. (US)   ', 'Johnson & Johnson (US)   ', 'Bausch Health Companies Inc. (Canada)   ', 'Cutera (US)   ', 'El.En. S.P.A. (Italy)   ', 'Inmode Ltd. (Israel)   ', 'Fotona (Slovenia)   ', 'Merz Pharma (Germany)   ', 'Venus Concept (Canada)   ', 'Aerolase Corp. (US)   ', 'Sciton (US)   ', 'Bohus Biotech Ab (Sweden)   ', 'Lutronic (South Korea)   ', 'Recosmo (South Korea)   ', 'Sharplight Technologies Inc. (Canada)   ', 'Therapeutics, Inc. (US)   ', 'Medytox (South Korea)   ', 'Polytech Health & Aesthetics Gmbh (Germany)   ', 'Asclepion (Germany)   ', 'Apyx Medical (US)   ', 'Gc Aesthetics (Ireland)   ', 'Laser Llc (Russia)   ', 'Huadong Medicine Co., Ltd. (China)   ', 'Revance Aesthetics (US)'

While it is true that the cosmetic market worldwide is currently experiencing the massive shift towards proactive aesthetic procedures where people enrol into preventive treatments to preserve their youth instead of just doing so once they start seeing signs of ageing. A shift towards preventive self-care can be inferred here as a millennial approach to look the same age over the years. Moreover, individualized treatments designed as per one's special requirements and driving their inspiration from preferences have gained immense recognition recently. Personalizing treatments improve patient’s experience and forms a relationship between them and the spa. Due to this, customers keep coming back and hence, the need to provide diverse beauty positive practices helps in attracting and retaining clients. 

Increasing Popularity of the Elective Aesthetic Procedures: Nonsurgical facial rejuvenation using botulinum toxin and hyaluronic acid is getting popular in different regions that are further supporting the market growth. People with darker skin types frequently look into alternative medical procedures that might help them achieve a fairer complexion or a lighter skin tone. The majority of people in India have darker skin tones. Consequently, there is always a demand for this procedure. In conclusion, glutathione has seen a significant increase in popularity worldwide after being hailed for decades in countries like the Republic of the Philippines as a "magical skin whitening" molecule. Despite all the controversy, glutathione therapy for skin whitening is increasingly popular in India, where the majority of aesthetic clinics now offer IV-based glutathione therapy.

North America held the largest of the medical aesthetics market revenue share in 2023 and will likely retain the same during the forecast period due to the improved healthcare infrastructure, usage of cosmetic procedures, increasing skin disorders, availability of advanced technologies, and the availability of board-certified and professional cosmetic surgeons in the region. The US and Canada are the largest contributor to the regional market. The expansion of the applications within the healthcare sector is driving the regional growth. Furthermore, the rapid increase in the elderly population and the establishment of aesthetic imaging centres in the region contributes to the market growth.