Medical Aesthetics Market Is Expand at a CAGR of 12.3% to Reach US$ 32.4 billion by 2031

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The medical aesthetics market was valued at USD 10.2 billion in 2021 and it is anticipated to grow further up to USD 32.4 billion by 2031 at a CAGR of 12.3% during the forecast period (2022-2031).

The medical aesthetic is used to treat and improve the aesthetic appearance of a person by treating various conditions, like skin laxity, excessive fat, cellulite, scars, moles, wrinkles, unwanted hair, liver spots, spider veins, and skin discoloration. Conventionally, it comprises dermatology, oral & maxillofacial surgery, reconstructive surgery, and plastic surgery. Aesthetic medicine comprises surgical & non-surgical procedures and a combination of both can be used to enhance an individual's physical appearance. Additionally, deformities caused due to accidents, trauma, and other congenital disorders are rectified by the use of aesthetic devices (particularly implants). Moreover, aesthetic procedures help reverse the aging process to a certain extent. Adding to that, the importance of physical appeal is on the rise and people across the globe are attracted to products and treatments that will help them retain their youth and beauty.

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Market Segmental Analysis

The global medical aesthetics market is segmented into product and end-users.

Global Medical Aesthetics Market by Product

The various products such as facial aesthetic products, body contouring devices, cosmetic implants, hair removal devices, tattoo removal devices, thread lift products, physicians-dispensed cosmeceuticals & skin lighteners, physician-dispensed eyelash products, and nail treatment laser devices. The facial aesthetic product is also sub-segmented into dermal fillers, botulinum toxins, microdermabrasion, and chemical peels. Also, body contouring devices are sub-segmented into non-surgical fat reduction devices, cellulite reduction devices, and liposuction devices. Likewise, the cosmetic implant is sub-segmented into breast implants, facial implants, and gluteal implants. Also, hair removal device is sub-segmented into laser hair removal devices and IPL hair removal devices. Moreover, skin aesthetic device is also sub-segmented into laser resurfacing devices, nonsurgical skin tightening devices, micro-needling products, and light therapy devices.

The facial aesthetic segment is likely to dominate the market. The key factors such as growing patient demand for facial aesthetic treatments coupled with increasing disposable income and spending capabilities, and the increasing geriatric population across the globe are likely to boost the growth of the segment during the forecast period.

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Market Drivers

Growing adoption of minimally invasive and non-invasive aesthetic procedures

There has been a significant increase in the inclination for minimally invasive and non-invasive aesthetic procedures over traditional surgical procedures in the past decade. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, like fewer pain, minimized scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures. As per the International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall increase of 5.4% in the number of plastic and cosmetic procedures during 2017 and 2018.

Market Opportunities

Growing demand from emerging markets

Emerging countries like China, Brazil, Mexico, and India offer significant opportunities for players operating in the medical aesthetics market. The demand for medical aesthetic devices in these countries is rising owing to rapid growth in medical tourism, the growing adult (aged 20 and above) population, rising disposable incomes, and increasing awareness about aesthetic specialties. The presence of a greater number of surgeons in these emerging countries is also contributing to the growth of the medical aesthetics market.

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Market Players of the Global Medical Aesthetic Market

The key players in the global medical aesthetic market are Allergan-AbbVie, Alma Lasers, Ltd., Anika Therapeutics, Cutera, Inc., Cynosure, El.En. S.p.A., Fotona d.o.o., Galderma, Johnson & Johnson, Merz Pharma GmbH & Co. KGaA, Medytox, Inc., SIENTRA, INC., HUADONG MEDICINE CO. LTD. and BAUSCH HEALTH COMPANY, INC. among others.

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