Aesthetic Medicine Market Size & Share, by Procedure (Surgical, Non-surgical), Aesthetic Device (Energy-based {Laser-based, Radiofrequency-based, Light-based, Ultrasound}, Non Energy-based {Botulinum Toxin, Dermal Fillers, Implants [Facial, Breast]}), Gender (Male, Female), End-use (Hospitals, Ambulatory Surgical Centres, Beauty Centres & Medical Spas, Dermatology Clinics, Home Settings), Regional Forecast, Industry Players, Growth Statistics Report 2024-2033

Market Outlook:

Aesthetic Medicine Market size exceeded USD 17.33 Billion in 2023 and is anticipated to cross USD 70.15 Billion, growing at more than 20.35% CAGR between 2024 and 2033. Increasing consumer demand for a youthful appearance, increased disposable incomes, and technological improvements have all contributed to the market growth in recent years. Along with evolving aesthetic standards, non-surgical procedures are becoming more and more well-liked, which has a positive impact on the market.

Additionally, there has been a move towards minimally invasive and non-invasive treatments because they provide faster healing times, fewer dangers, and adverse effects in comparison to surgical techniques. This pattern has sparked the creation of ground-breaking tools and technologies, thus impelling the market expansion.

The COVID-19 pandemic has propelled the use of virtual consultations and telemedicine in the field of aesthetic medicine. Through remote consultations, patients can talk about their issues, get treatment options, and get expert counsel without actually visiting a clinic. Both patients and practitioners can benefit from this trend\'s simplicity, accessibility, and flexibility.

Market Dynamics:

Growth Drivers & Opportunities:

Increasing awareness of body aesthetics to propel the market growth

Aesthetic operations are becoming more accepted and commonplace in society. Cosmetic operations are no longer stigmatised, and people are more forthcoming about using them. Aesthetic medicine is now more widely known and accepted as a result of this cultural shift, which has been accompanied by greater media coverage and advertising. Self-care and overall wellness are receiving more attention as people realise how crucial it is to look after their physical and mental health. The desire for treatments that improve one\'s looks and increase self-confidence is fueled by the fact that aesthetic operations are frequently viewed as a part of self-care and self-improvement.

Rising advancement in the field of medical technology to drive the market

The discipline of aesthetic medicine has undergone a technological revolution, with more effective and minimally invasive treatment options now available. The number of cosmetic operations available has increased because to cutting-edge technology including lasers, radiofrequency, ultrasound, and energy-based devices. As a result of these developments, more people are seeking out cosmetic treatments since they offer greater results, faster recovery times, and less side effects.

 

Restraints & Challenges:

Misleading marketing practices to restrain the market growth

The market for aesthetic medicine might be difficult because of fraudulent advertising strategies and the encouragement of irrational expectations. Consumers may be misled and have irrational expectations about the results of aesthetic operations as a result of exaggerated promises, manipulated photos, and aggressive marketing strategies. To meet this problem, it is crucial to use ethical and transparent marketing strategies coupled with thorough patient education.

Regional Forecast:

North America Market:

North America aesthetic medicine market size crossed USD 9.03 billion in 2023. The region boasts a strong healthcare system, high levels of disposable income, and a culture that places a premium on youth and physical attractiveness. These elements support the market for aesthetic medicine in North America\'s rapid expansion. Apart from this, North America is home to many top aesthetic medicine companies or is where they have a major presence.

Asia Pacific Market:

Asia Pacific is witnessing the fastest market growth and is expected to surpass USD 15.53 billion by 2033. The beauty and cosmetics business is growing in the Asia Pacific area, which works in concert to promote the market for aesthetic medicine. Consumers are very interested in beauty products, skincare items, and cosmeceuticals. This ecosystem promotes industry innovation and aids in the growth of the market as a whole.

Segmentation Analysis:

Insights by Procedure:

The non-surgical segment accounted the largest market share over around 67% in 2023. The non-surgical segment provides a wide variety of treatment alternatives that address different cosmetic concerns. There are several non-surgical procedures available to meet the demands of different patients, ranging from energy-based devices for skin tightening and body contouring to injectables for wrinkling reduction and facial volumization. The growing number of treatment alternatives has accelerated the development of this market.

Insights by Gender:

The female segment dominated the market with over 81% share in 2023. The demand for non-surgical body sculpting and contouring procedures is also growing among women. Women frequently turn to non-invasive procedures like skin tightening, cellulite removal, and fat reduction to obtain the ideal body shape and address certain issues with their self-image.

Insights by End User:

Hospital segment is witnessing the fastest market growth over the forecast period 2024 to 2033. Hospitals are putting themselves in a strategic position to capture a sizeable portion of the expanding aesthetic medicine market by offering secure, thorough, and superior aesthetic care. Patients can access a variety of therapies and a multidisciplinary approach to address their aesthetic concerns thanks to the integration of aesthetic services within hospitals.

Competitive Landscape:

Major players in the market:

• Allergan-AbbVie
• Alma Lasers
• Anika Therapeutics
• Cutera
• Cynosure
• Fotona
• Galderma
• Johnson & Johnson
• Merz Pharma
• Medytox
• Sientra
• Sinclair Pharma
• Syneron Medical
• Baush
• Solta Medical

Recent Industry Developments:

• In April 2019, Alma introduces BeautiFillTM, a one-step fat grafting procedure.
• In September 2020, AbbVie subsidiary Allergan Aesthetics and Skinbetter Science have announced the beginning of a new educational alliance DREAM.