Vancouver, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global medical aesthetics market size was USD 15.3 Billion in 2022 and is expected to register rapid revenue CAGR of 11.0% during the forecast period. Key factors propelling this growth include the increasing awareness of aesthetic procedures, a surge in the adoption of minimally invasive devices, a rising demand for home-based aesthetic procedures, and continuous technological advancements in aesthetic devices.
Minimally invasive and non-surgical aesthetic treatments are gaining popularity, offering practical and risk-free alternatives to traditional surgery. Procedures such as Botox, dermal fillers, laser therapy, chemical peels, and microdermabrasion are on the rise due to their minimal downtime, making them optimal for quick recovery and the resumption of routine activities. The total number of non-surgical cosmetic operations increased by 44% in 2021 compared to surgical cosmetic procedures, with a substantial growth of 63% in the body procedures category. This trend is driven by accessibility, adaptability, and reduced scarring concerns associated with non-surgical treatments.
The rising demand for home-based cosmetic procedures is a significant driver, fueled by the increasing prevalence of dermatological diseases like acne, psoriasis, and skin cancer. However, poor reimbursement conditions pose a restraint to market growth, as cosmetic procedures, equipment, and devices are often not covered by insurance providers. Recent trends include the growth of medical aesthetics tourism, the destigmatization of aesthetic procedures, and the use of the internet to find the best providers.
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The facial aesthetic product segment led the market in 2022, driven by the increasing number of individuals seeking a youthful appearance and disposable financial resources. Notably, Allergan Aesthetics introduced the SkinMedica Even & Correct Collection, focusing on lightening treatments and dark-spot reduction creams. The cosmetic implant segment is expected to experience moderate growth due to clear regulatory requirements, the acceptance of bio-implants, and an increase in target diseases. Noteworthy approvals include Allergan's NATRELLE INSPIRA Soft Touch breast implants and Sientra Inc.'s gel breast implants.
The non-surgical procedures segment is anticipated to hold a significant revenue share, driven by the increasing popularity of lipolysis. Technological advancements, product introductions like Lumenis Ltd.'s NuEra Tight, and growing awareness among the elderly contribute to this segment's growth. Hospitals and clinics are expected to register fast revenue growth, driven by automated systems, early disease diagnosis, and the digitization of patient workflows. Beauty centers and medical spas, offering non-invasive skin rejuvenation procedures, are projected to account for the largest revenue share.
North America dominated the market in 2022, driven by experienced cosmetic surgeons, increased adoption of cosmetic operations, and advanced healthcare infrastructure. The Cleveland Clinic Organization estimates over 15 million cosmetic surgery treatments annually in the U.S.
The Asia Pacific region is poised for the fastest revenue growth, attributed to rising awareness of anti-aging surgeries, medical tourism, improved healthcare infrastructure, and affordable treatment costs. Government policies promoting cosmetic medicine standardization contribute to market growth.
Europe is expected to account for a substantial revenue share, driven by the demand for high-quality aesthetic procedures, established healthcare infrastructure, and an effective reimbursement system. The rising number of aesthetic operations is also a contributing factor. The global medical aesthetics market is experiencing significant growth driven by a shift towards minimally invasive treatments, increasing demand for home-based procedures, and ongoing technological advancements. Market players are responding with innovative products, contributing to the expansion of the industry.
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Medical Aesthetics Report Summary
Medical Aesthetics Top Companies and Competitive Landscape
The global medical aesthetic market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective medical aesthetic solutions. Some major players included in the global medical aesthetic market report are:
Medical Aesthetics Latest Industry News
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Medical Aesthetics Market Segment Analysis
For the purpose of this report, Emergen Research has segmented global medical aesthetic market on the basis of product, procedure, end-use, and region:
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