Aesthetic Medicine Market Size To Reach USD 28.32 Billion By 2028 | Top Key Players Allergan Inc., Galderma SA, Alma Laser

Growing Acceptance of minimally invasive & non-invasive treatment is a significant factor estimated to stimulate market growth.

The global aesthetic medicine market is expected to reach USD 28.32 Billion by 2028, according to a new report by Reports and Data. Aesthetic Medicine is an emerging field intended for the use of minimally cosmetic invasive and non-invasive treatments to improve patients' contentment with their physical appearance.

Increase in demand for non-invasive cosmetic surgeries, growing incidences accidents and trauma cases, rising prevalence of congenital face and tooth abnormalities, technological innovations, growth in aesthetic awareness programs, including breast reconstructive awareness campaign (launched in the U.S.), high incidence of breast cancer, and rise in number of cosmetology surgeons are anticipated to propel the market growth during the forecast period.

Advancements in surgical along with non-surgical aesthetic treatments is expected to drive the market demand in the upcoming years. Accessibility of advanced aesthetic devices that provide effective, time-saving and minimally invasive treatment is likely to be causative of the increasing acceptance of such devices. Massive investments in R&D to come up with innovative products and technology is further forecasted to drive market growth.

Increasing demand for aesthetic treatment among the rapidly growing elderly population base will also serve a significant driver to the market. The American Society of Plastic Surgeons studied that, in 2016, approximately 85,000 facelift procedures were performed in the U.S. population aged 55 years and above. Besides, increasing prevalence of obesity in developed, as well as developing countries, will boost the demand for body contouring procedures and as a result propelling the market growth.

The high cost of aesthetic treatment, as well as poor reimbursement coverage, may create hindrances in the growth of the market during the forecast period.

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Market Dynamics:

Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.

Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2028.

Competitive Outlook:

The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.

This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.

Further key findings from the report suggest

• Anti-wrinkle products contributed to the largest market share with a share of around 50% in 2020 and are expected to grow at a rate of 9.6% in the forecast period. Factors including widespread awareness about availability of these products, minimally invasive and non-invasive procedures, are attributed to the market dominance of this segment.

• Aesthetic hospitals and clinics segment dominated the global market, in terms of revenue, in 2020, and is projected to have a significant growth rate in the forecast period. High cost associated with the professional devices, strict legislative guidelines for usage, and the prerequisite of skilled professionals are some factors responsible for the growth of this segment.

• The North America region led the market with around 40% market share in 2020. This market dominance can be attributed to the strong presence of leading medical device manufacturers. North America would continue to dominate the market throughout the forecast period owing to the higher purchasing power of the consumers, an increased emphasis on innovation, and a rising number of aesthetic companies operating out of the U.S.

• Additionally, an increase in the number of geriatric population and a high number of consumers looking for ways to delay or reverse signs of aging are other factors driving the market growth in North America.

• Key participants include Allergan Inc., Galderma SA, Alma Laser, Cynosure, Johnson & Johnson, Lumebis, Solta Medical Inc, Syneron Medical Ltd., Hologic Inc., and Dentsply Sirona Inc. among others.

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For the purpose of this report, Reports and Data have segmented the global aesthetic medicine market on the basis of product type, application, end-user, and region:

Product Type Outlook (Revenue, USD Million; 2020-2028)

• Energy-Based Devices
o Aesthetic Laser Devices
o Body Contouring & Skin Tightening Devices
o Microdermabrasion Devices
o Ultrasound Devices
• Implants
o Dental Implants
o Breast implants
o Facial Implants
o Others
• Anti-Wrinkle Products
o Botulinum Toxin/BOTOX
o Dermal Fillers
o Chemical Peel

Application Outlook (Revenue, USD Million; 2020-2028)

• Surgical
• Non-Surgical

End-user Outlook (Revenue, USD Million; 2020-2028)

• Medical Spas & Beauty Centers
• Hospitals & Clinics
• Home Use

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Regional Outlook (Revenue, USD Million; 2020-2028)

• North America
o U.S.
• Europe
o UK
o France
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
• MEA

Thank you for reading our report. To know more about the customization feature, please get in touch with us and our team will ensure the report is customized as per your requirements.

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