Aesthetic Medicine Global Market Predicted to Augment and Reach over $96.66 Billion at a CAGR of 9.0% By 2028 | AbbVie, Galderma, Bausch Health, Syneron Candela, Vive Cosmetics

The aesthetic medicine market size has grown strongly in recent years. It will grow from $62.37 billion in 2023 to $68.57 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to rising disposable income and urbanization, growing obese population and increasing popularity of noninvasive and minimally invasive aesthetic procedures.

The aesthetic medicine market size is expected to see strong growth in the next few years. It will grow to $96.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to increasing elderly population, rapid urbanization and rise in disposable income, increase in mergers and acquisitions. Major trends in the forecast period include product innovations, use of artificial intelligence in aesthetics, development of focal radio frequency technology, use of laser-assisted liposuction, and partnerships and collaborations.

Market Overview -
Aesthetic medicine refers to a growing field of medicine that is separate from plastic surgery and offers minimally invasive medical procedures to improve patients' pleasure with their physical appearance. These elective operations are carried out on healthy adult patients. The medical aesthetic treatments carried out through these aesthetic medicine products include non-invasive lipolysis, hair restoration and removal, cellulite reduction, wrinkle reduction, skin renewal & resurfacing, and others.

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Rising Obesity Rates Drive Surge In Demand For Aesthetic Medicine Worldwide
The growing obese population across the globe is expected to propel the growth of the aesthetic medicine market. The increase in unhealthy food consumption, lack of physical activity, and parental & postnatal influences are contributing to rapid growth in the obese population across the globe. Individuals with obesity, seek aesthetic medicine for fat reduction, meso/face-lift, and other benefits through various invasive and non-invasive aesthetic medicine procedures. For instance, in July 2021, according to a European health interview survey on the overweight or obese population in Europe conducted by Eurostat, the statistical office of the European Union, reported that 52.7% of the adult population of Europe was overweight. Therefore, the growing number of obese populations across the globe is expected to drive the growth of the aesthetic medicine market.

Competitive Landscape -
Major companies operating in the aesthetic medicine market report are AbbVie, Johnson & Johnson, Galderma, Bausch Health, Shanghai Fosun Pharmaceutical Co, Cynosure, El.En. S.p.A, Cutera, Merz Pharma, Syneron Candela, Vive Cosmetics, VLCC Personal Care, Kazima Cosmetics Mitsubishi Heavy Industries, Ltd, SoftFil, Sinclair Phama, BIOXIS pharmaceuticals, Premium Aesthetics LLC, Martinex, Medical Esthetic, Ipsen Pharma, Ruby Surgery & Aesthetics, Medicina Estética Regenerativa, Xcite Technologies, ReNue aesthetic medicine, VYDENCE Medical, Julphar, MSD (Musculoskeletal disorders), Next Biosciences, Novartis South Africa, BBI Solutions, Aspen Pharmacare, 54gene, Altis Biologics, Cipla Medpro, Sanofi Genzyme.

Lumenis Launches Splendor X With Blend X Technology In The Uk Aesthetic Medicine Market
Companies in the aesthetic medicine market are focused on product innovations and developing new products to strengthen their position in the market. For example, in January 2022, Lumenis, an Israel-based energy-based medical device company for aesthetic, surgical, and ophthalmic applications launched the Splendor X device to the UK market. The device is powered by BLEND X technology, a binary laser emission of Nd: YAG (neodymium-doped yttrium aluminum garnet; Nd: Y3Al5O12) (1064 nm) and Alexandrite (755 nm) wavelengths with synchronized and adjustable proportions and the device is suitable for both men and women and can be used on all Fitzpatrick skin types. It can treat any area of the body, including the face, bikini line, legs, arms, stomach, and underarms.

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Key Segments -
The aesthetic medicine market covered in this report is segmented -
1) By Product: Facial Aesthetic Products, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices, Other Products
2) By Procedure Type: Invasive Procedures, Non-Invasive Procedures
3) By End-User: Hospitals And Clinics, Medical Spas And Beauty Centres, Home Care

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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