Medical Aesthetics Market is projected to reach US$ 16,034.87 million by 2028

The medical aesthetics market is projected to reach US$ 16,034.87 million by 2028 from US$ 7,039.06 million in 2021; it is expected to register a CAGR of 12.5% from 2021 to 2028.

The World Health Organization (WHO) recognizes waste reduction as an important aspect of strengthening health systems. Technological advancements have led to the development of surgical approaches that minimize waste and achieve better results with the available resources. Minimally invasive surgeries are among the approaches that result in low waste generation and reduced medical expenses; moreover, these surgeries ensure low absenteeism at workplaces, which has a net positive effect on the productivity of an economy.

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The modern concept of natural and harmonious rejuvenation is based on a comprehensive, three-dimensional, multi-layered approach that combines several active ingredients and techniques in surgical procedures such as skin relaxation, volume enlargement, volume repositioning, reshaping, surface renewal, and skin tightening, depending on the specific patient needs. Since the appearance of the skin is considered an important factor in wellbeing and health, the number of aesthetic procedures performed around the world is increasing steadily. Further, nonsurgical procedures include facial injections and cryolipolysis, among others. These short procedures help correct facial lines, wrinkles, cellulite reduction, and unwanted fat reduction with minimal side effects.

The International Society of Aesthetic Plastic Surgery (ISAPS) defines a nonsurgical cosmetic procedure as an effective and safe procedure for those who willing to undergo subtle enhancement and surgical result enhancement with lower recovery periods; these procedures often do not require extensive training, unlike surgical procedures that are associated with greater risks. As per ISAPS estimations, the number of nonsurgical cosmetic procedures have increased by 51.4% from 2011 to 2017. With the proliferation of the medical aesthetics industry, competition is also inevitably increasing. It is a heterogeneous industry as the competition is not only among beauty clinics specializing in surgical cosmetic procedures, but other beauty service providers such as salons and also compete with them.

Product-Based Insights
Based on Product, the medical aesthetics market is further segmented into facial aesthetic products, cosmetic implants, body contouring devices, skin aesthetic devices, hair removal devices, tattoo removal devices, and others. In 2021, the facial aesthetic products segment is expected to hold the largest share of the market, and it is estimated to register the highest CAGR during 2021–2028.

In the past 20 years, minimally invasive procedures have undergone continuous innovations. In 2017, doctors performed 15.7 million minimally invasive procedures in North America. Thus, surge in the adoption of minimally invasive and noninvasive aesthetic procedures is driving the medical aesthetics market growth.

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